Dhaene Timothy: 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.
Dhaene Timothy
Largest movements
- Tangible fixed assets -€13,411
down €13,411 (-30.9%), from €43,366 to €29,954
of which Furniture and vehicles: -€11,000
- Cash -€12,634
down €12,634 (-32.5%), from €38,826 to €26,193
mainly Net result for the year (-€19,058) and Debts after one year (-€9,080)
- Profit (loss) carried forward -€19,058
down €19,058 (-40.3%), from €47,336 to €28,278
- Debts after one year -€9,080
down €9,080 (-35.0%), from €25,930 to €16,850
- Tax, wage and social debts +€2,838
up €2,838 (+169%), from €1,680 to €4,519
of which Taxes: +€4,519
- Trade debts -€2,313
down €2,313 (-29.7%), from €7,782 to €5,469
- Taxes -€11,268
no longer reported in 2025 (was €11,268)
- Financial charges -€586
down €586 (-30.9%), from €1,896 to €1,310
- Gross operating margin -€491
down €491 (-16.6%), from -€2,957 to -€3,448
- Depreciation -€44
down €44 (-0.3%), from €13,455 to €13,411
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.
Derived cash bridge
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 | €216,445 | €189,211 | -€27,234 | -12.6% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €112,116 | €98,704 | -€13,411 | -12.0% |
| Tangible fixed assets | 22/27 | €43,366 | €29,954 | -€13,411 | -30.9% |
| Land and buildings | 22 | €1,977 | €0 | -€1,977 | -100% |
| Plant, machinery and equipment | 23 | €764 | €330 | -€435 | -56.9% |
| Furniture and vehicles | 24 | €40,625 | €29,625 | -€11,000 | -27.1% |
| Financial fixed assets | 28 | €68,750 | €68,750 | = | 0.0% |
| Current assets | 29/58 | €104,329 | €90,507 | -€13,823 | -13.2% |
| Amounts receivable within one year | 40/41 | €65,503 | €64,314 | -€1,189 | -1.8% |
| Trade receivables | 40 | €58,122 | €62,964 | +€4,842 | +8.3% |
| Other amounts receivable | 41 | €7,381 | €1,350 | -€6,031 | -81.7% |
| Cash at bank and in hand | 54/58 | €38,826 | €26,193 | -€12,634 | -32.5% |
| Total equity and liabilities | 10/49 | €216,445 | €189,211 | -€27,234 | -12.6% |
| Equity | 10/15 | €172,351 | €153,293 | -€19,058 | -11.1% |
| Contributions | 10/11 | €38,600 | €38,600 | = | 0.0% |
| Reserves | 13 | €86,415 | €86,415 | = | 0.0% |
| Distributable reserves | 133 | €86,415 | €86,415 | = | 0.0% |
| Profit (loss) carried forward | 14 | €47,336 | €28,278 | -€19,058 | -40.3% |
| Amounts payable | 17/49 | €44,094 | €35,918 | -€8,175 | -18.5% |
| Amounts payable after more than one year | 17 | €25,930 | €16,850 | -€9,080 | -35.0% |
| Financial debts | 170/4 | €25,930 | €16,850 | -€9,080 | -35.0% |
| Amounts payable within one year | 42/48 | €18,164 | €19,068 | +€904 | +5.0% |
| Current portion of amounts payable after more than one year | 42 | €8,701 | €9,080 | +€379 | +4.3% |
| Trade debts | 44 | €7,782 | €5,469 | -€2,313 | -29.7% |
| Suppliers | 440/4 | €7,782 | €5,469 | -€2,313 | -29.7% |
| Taxes, remuneration and social security | 45 | €1,680 | €4,519 | +€2,838 | +169% |
| Taxes | 450/3 | - | €4,519 | +€4,519 | |
| Remuneration and social security | 454/9 | €1,680 | - | -€1,680 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,455 | €13,411 | -€44 | -0.3% |
| Other operating charges | 640/8 | €903 | €889 | -€14 | -1.5% |
| Gross operating margin | 9900 | -€2,957 | -€3,448 | -€491 | -16.6% |
| Operating profit (loss) | 9901 | -€17,315 | -€17,748 | -€434 | -2.5% |
| Financial charges | 65/66B | €1,896 | €1,310 | -€586 | -30.9% |
| Recurring financial charges | 65 | €1,896 | €1,310 | -€586 | -30.9% |
| Profit (loss) for the period before taxes | 9903 | -€19,210 | -€19,058 | +€152 | +0.8% |
| Income taxes | 67/77 | €11,268 | - | -€11,268 | |
| Profit (loss) for the period | 9904 | -€30,478 | -€19,058 | +€11,420 | +37.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,478 | -€19,058 | +€11,420 | +37.5% |
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 25 October 2026 via checked.be.