DH5: what changed
Two fiscal 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.
DH5
Largest movements
- Current investments +€106,000
up €106,000 (+17.0%), from €625,310 to €731,310
- Receivables within one year -€50,348
down €50,348 (-50.6%), from €99,466 to €49,118
of which Other amounts receivable: -€26,832
- Reserves +€67,154
up €67,154 (+10.4%), from €645,955 to €713,110
- Gross operating margin -€36,779
down €36,779 (-27.0%), from €136,202 to €99,423
- Financial income -€23,177
down €23,177 (-68.8%), from €33,682 to €10,506
- Taxes -€17,347
down €17,347 (-33.1%), from €52,330 to €34,983
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 | €764,208 | €825,056 | +€60,847 | +8.0% |
| Fixed assets | 21/28 | €1,821 | €1,337 | -€484 | -26.6% |
| Tangible fixed assets | 22/27 | €1,653 | €1,169 | -€484 | -29.3% |
| Furniture and vehicles | 24 | €1,653 | €1,169 | -€484 | -29.3% |
| Financial fixed assets | 28 | €168 | €168 | = | 0.0% |
| Current assets | 29/58 | €762,387 | €823,718 | +€61,331 | +8.0% |
| Amounts receivable within one year | 40/41 | €99,466 | €49,118 | -€50,348 | -50.6% |
| Trade receivables | 40 | €68,592 | €45,076 | -€23,517 | -34.3% |
| Other amounts receivable | 41 | €30,873 | €4,042 | -€26,832 | -86.9% |
| Current investments | 50/53 | €625,310 | €731,310 | +€106,000 | +17.0% |
| Cash at bank and in hand | 54/58 | €36,557 | €41,500 | +€4,944 | +13.5% |
| Deferred charges and accrued income | 490/1 | €1,055 | €1,791 | +€736 | +69.7% |
| Total equity and liabilities | 10/49 | €764,208 | €825,056 | +€60,847 | +8.0% |
| Equity | 10/15 | €732,415 | €799,570 | +€67,154 | +9.2% |
| Contributions | 10/11 | €86,460 | €86,460 | = | 0.0% |
| Reserves | 13 | €645,955 | €713,110 | +€67,154 | +10.4% |
| Distributable reserves | 133 | €645,955 | €713,110 | +€67,154 | +10.4% |
| Amounts payable | 17/49 | €31,793 | €25,486 | -€6,307 | -19.8% |
| Amounts payable within one year | 42/48 | €31,793 | €25,486 | -€6,307 | -19.8% |
| Financial debts | 43 | €1,196 | €311 | -€885 | -74.0% |
| Credit institutions | 430/8 | €1,196 | €311 | -€885 | -74.0% |
| Trade debts | 44 | €7,615 | €30 | -€7,585 | -99.6% |
| Suppliers | 440/4 | €7,615 | €30 | -€7,585 | -99.6% |
| Taxes, remuneration and social security | 45 | €10,707 | €7,741 | -€2,966 | -27.7% |
| Taxes | 450/3 | €10,707 | €7,741 | -€2,966 | -27.7% |
| Other amounts payable | 47/48 | €12,276 | €17,404 | +€5,128 | +41.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €242 | €484 | +€242 | +100.0% |
| Other operating charges | 640/8 | €457 | €474 | +€16 | +3.6% |
| Gross operating margin | 9900 | €136,202 | €99,423 | -€36,779 | -27.0% |
| Operating profit (loss) | 9901 | €135,502 | €98,465 | -€37,037 | -27.3% |
| Financial income | 75/76B | €33,682 | €10,506 | -€23,177 | -68.8% |
| Recurring financial income | 75 | €33,682 | €10,506 | -€23,177 | -68.8% |
| Financial charges | 65/66B | €1,211 | €698 | -€513 | -42.3% |
| Recurring financial charges | 65 | €1,211 | €698 | -€513 | -42.3% |
| Profit (loss) for the period before taxes | 9903 | €167,973 | €108,273 | -€59,701 | -35.5% |
| Income taxes | 67/77 | €52,330 | €34,983 | -€17,347 | -33.1% |
| Profit (loss) for the period | 9904 | €115,643 | €73,290 | -€42,354 | -36.6% |
| Transfer from tax-exempt reserves | 789 | €32,838 | - | -€32,838 | |
| Profit (loss) for the period to be appropriated | 9905 | €148,481 | €73,290 | -€75,192 | -50.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.