DHOW: 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.
DHOW
Largest movements
- Receivables within one year +€403,874
up €403,874 (+6101.2%), from €6,620 to €410,493
of which Trade receivables: +€404,367
- Financial fixed assets +€252,416
new in 2025: €252,416
- Cash -€76,305
down €76,305 (-39.8%), from €191,600 to €115,295
mainly Receivables within one year (-€403,874) and Investment in fixed assets (net) (-€252,416)
- Short-term financial debts +€310,000
new in 2025: €310,000
- Other debts +€119,991
up €119,991 (+120.0%), from €100,009 to €220,000
- Contributions +€100,000
up €100,000 (+100.0%), from €100,000 to €200,000
- Trade debts +€27,226
up €27,226 (+1222.8%), from €2,227 to €29,453
- Profit (loss) carried forward +€15,679
up €15,679 (+729.5%), from €2,149 to €17,828
- Gross operating margin +€16,708
up €16,708 (+517.7%), from €3,227 to €19,936
- Financial income +€7,141
new in 2025: €7,141
- Taxes +€5,449
up €5,449 (+1014.1%), from €537 to €5,986
- Financial charges +€4,585
up €4,585 (+4042.5%), from €113 to €4,698
- Other operating charges +€286
up €286 (+66.8%), from €427 to €713
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 | €204,922 | €789,202 | +€584,280 | +285.1% |
| Fixed assets | 21/28 | - | €252,416 | +€252,416 | |
| Financial fixed assets | 28 | - | €252,416 | +€252,416 | |
| Current assets | 29/58 | €204,922 | €536,786 | +€331,864 | +161.9% |
| Amounts receivable within one year | 40/41 | €6,620 | €410,493 | +€403,874 | +6101.2% |
| Trade receivables | 40 | €6,097 | €410,464 | +€404,367 | +6632.2% |
| Other amounts receivable | 41 | €523 | €30 | -€493 | -94.3% |
| Cash at bank and in hand | 54/58 | €191,600 | €115,295 | -€76,305 | -39.8% |
| Deferred charges and accrued income | 490/1 | €6,702 | €10,997 | +€4,295 | +64.1% |
| Total equity and liabilities | 10/49 | €204,922 | €789,202 | +€584,280 | +285.1% |
| Equity | 10/15 | €102,149 | €217,828 | +€115,679 | +113.2% |
| Contributions | 10/11 | €100,000 | €200,000 | +€100,000 | +100.0% |
| Profit (loss) carried forward | 14 | €2,149 | €17,828 | +€15,679 | +729.5% |
| Amounts payable | 17/49 | €102,773 | €571,374 | +€468,601 | +456.0% |
| Amounts payable within one year | 42/48 | €102,773 | €571,374 | +€468,601 | +456.0% |
| Financial debts | 43 | - | €310,000 | +€310,000 | |
| Credit institutions | 430/8 | - | €310,000 | +€310,000 | |
| Trade debts | 44 | €2,227 | €29,453 | +€27,226 | +1222.8% |
| Suppliers | 440/4 | €2,227 | €29,453 | +€27,226 | +1222.8% |
| Taxes, remuneration and social security | 45 | €537 | €11,921 | +€11,384 | +2118.5% |
| Taxes | 450/3 | €537 | €11,921 | +€11,384 | +2118.5% |
| Other amounts payable | 47/48 | €100,009 | €220,000 | +€119,991 | +120.0% |
| Other operating charges | 640/8 | €427 | €713 | +€286 | +66.8% |
| Gross operating margin | 9900 | €3,227 | €19,936 | +€16,708 | +517.7% |
| Operating profit (loss) | 9901 | €2,800 | €19,223 | +€16,423 | +586.5% |
| Financial income | 75/76B | - | €7,141 | +€7,141 | |
| Recurring financial income | 75 | - | €7,141 | +€7,141 | |
| Financial charges | 65/66B | €113 | €4,698 | +€4,585 | +4042.5% |
| Recurring financial charges | 65 | €113 | €4,698 | +€4,585 | +4042.5% |
| Profit (loss) for the period before taxes | 9903 | €2,687 | €21,665 | +€18,979 | +706.4% |
| Income taxes | 67/77 | €537 | €5,986 | +€5,449 | +1014.1% |
| Profit (loss) for the period | 9904 | €2,149 | €15,679 | +€13,530 | +629.5% |
| Profit (loss) for the period to be appropriated | 9905 | €2,149 | €15,679 | +€13,530 | +629.5% |
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 9 October 2026 via checked.be.