DEXR: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
DEXR
Largest movements
- Intangible fixed assets +€89,191
up €89,191 (+32.9%), from €271,134 to €360,324
- Cash +€56,431
up €56,431 (+124.9%), from €45,172 to €101,604
mainly Contributions, distributions and other (+€176,800) and Depreciation (+€154,660)
- Receivables within one year -€8,480
down €8,480 (-14.0%), from €60,495 to €52,015
of which Other amounts receivable: -€7,267
- Contributions +€176,800
up €176,800 (+124.5%), from €142,000 to €318,800
- Profit (loss) carried forward -€144,102
down €144,102 (-471.3%), from -€30,576 to -€174,678
- Debts after one year +€73,711
up €73,711 (+69.2%), from €106,474 to €180,186
- Trade debts +€39,243
up €39,243 (+113.8%), from €34,480 to €73,723
- Other debts -€18,136
down €18,136 (-16.8%), from €108,121 to €89,985
- Depreciation +€72,590
up €72,590 (+88.4%), from €82,070 to €154,660
- Gross operating margin -€53,472
down €53,472 (-67.3%), from €79,510 to €26,038
- Staff costs +€4,952
new in 2025: €4,952
- Financial charges +€3,252
up €3,252 (+53.9%), from €6,035 to €9,287
- Other operating charges +€1,033
up €1,033 (+276.6%), from €373 to €1,407
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €381,000 | €517,510 | +€136,510 | +35.8% |
| Fixed assets | 21/28 | €275,332 | €363,877 | +€88,545 | +32.2% |
| Intangible fixed assets | 21 | €271,134 | €360,324 | +€89,191 | +32.9% |
| Tangible fixed assets | 22/27 | €1,949 | €1,303 | -€646 | -33.1% |
| Furniture and vehicles | 24 | €1,949 | €1,303 | -€646 | -33.1% |
| Financial fixed assets | 28 | €2,250 | €2,250 | = | 0.0% |
| Current assets | 29/58 | €105,668 | €153,632 | +€47,965 | +45.4% |
| Amounts receivable within one year | 40/41 | €60,495 | €52,015 | -€8,480 | -14.0% |
| Trade receivables | 40 | €40,847 | €39,635 | -€1,213 | -3.0% |
| Other amounts receivable | 41 | €19,648 | €12,381 | -€7,267 | -37.0% |
| Cash at bank and in hand | 54/58 | €45,172 | €101,604 | +€56,431 | +124.9% |
| Deferred charges and accrued income | 490/1 | - | €13 | +€13 | |
| Total equity and liabilities | 10/49 | €381,000 | €517,510 | +€136,510 | +35.8% |
| Equity | 10/15 | €111,424 | €144,122 | +€32,698 | +29.3% |
| Contributions | 10/11 | €142,000 | €318,800 | +€176,800 | +124.5% |
| Profit (loss) carried forward | 14 | -€30,576 | -€174,678 | -€144,102 | -471.3% |
| Amounts payable | 17/49 | €269,576 | €373,387 | +€103,812 | +38.5% |
| Amounts payable after more than one year | 17 | €106,474 | €180,186 | +€73,711 | +69.2% |
| Financial debts | 170/4 | €106,474 | €180,186 | +€73,711 | +69.2% |
| Amounts payable within one year | 42/48 | €161,887 | €191,692 | +€29,805 | +18.4% |
| Current portion of amounts payable after more than one year | 42 | €19,286 | €20,289 | +€1,003 | +5.2% |
| Trade debts | 44 | €34,480 | €73,723 | +€39,243 | +113.8% |
| Suppliers | 440/4 | €34,480 | €73,723 | +€39,243 | +113.8% |
| Taxes, remuneration and social security | 45 | - | €7,696 | +€7,696 | |
| Remuneration and social security | 454/9 | - | €7,696 | +€7,696 | |
| Other amounts payable | 47/48 | €108,121 | €89,985 | -€18,136 | -16.8% |
| Accrued charges and deferred income | 492/3 | €1,215 | €1,510 | +€295 | +24.3% |
| Non-recurring operating income | 76A | - | €25,050 | +€25,050 | |
| Remuneration, social security and pensions | 62 | - | €4,952 | +€4,952 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €82,070 | €154,660 | +€72,590 | +88.4% |
| Other operating charges | 640/8 | €373 | €1,407 | +€1,033 | +276.6% |
| Gross operating margin | 9900 | €79,510 | €26,038 | -€53,472 | -67.3% |
| Operating profit (loss) | 9901 | -€2,934 | -€134,981 | -€132,046 | -4500.2% |
| Financial income | 75/76B | - | €166 | +€166 | |
| Recurring financial income | 75 | - | €166 | +€166 | |
| Financial charges | 65/66B | €6,035 | €9,287 | +€3,252 | +53.9% |
| Recurring financial charges | 65 | €6,035 | €9,287 | +€3,252 | +53.9% |
| Profit (loss) for the period before taxes | 9903 | -€8,969 | -€144,102 | -€135,133 | -1506.6% |
| Profit (loss) for the period | 9904 | -€8,969 | -€144,102 | -€135,133 | -1506.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,969 | -€144,102 | -€135,133 | -1506.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.