DIBELCO: 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.
DIBELCO
Largest movements
- Tangible fixed assets -€172,828
down €172,828 (-5.2%), from €3.3m to €3.1m
of which Land and buildings: -€176,431
- Financial fixed assets +€140,000
up €140,000 (+17.9%), from €780,043 to €920,043
- Debts after one year -€144,024
down €144,024 (-16.8%), from €857,091 to €713,067
of which Financial debts: -€144,024
- Gross operating margin +€149,890
up €149,890 (+43.0%), from €348,598 to €498,487
- Depreciation +€68,667
up €68,667 (+49.8%), from €137,853 to €206,520
- Financial charges +€65,555
up €65,555 (+55.7%), from €117,790 to €183,345
- Other operating charges +€13,038
up €13,038 (+64.6%), from €20,191 to €33,230
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,160,185 | €4,087,645 | -€72,541 | -1.7% |
| Fixed assets | 21/28 | €4,096,346 | €4,063,518 | -€32,828 | -0.8% |
| Tangible fixed assets | 22/27 | €3,316,303 | €3,143,474 | -€172,828 | -5.2% |
| Land and buildings | 22 | €3,316,303 | €3,139,872 | -€176,431 | -5.3% |
| Furniture and vehicles | 24 | - | €3,603 | +€3,603 | |
| Financial fixed assets | 28 | €780,043 | €920,043 | +€140,000 | +17.9% |
| Current assets | 29/58 | €63,839 | €24,127 | -€39,712 | -62.2% |
| Amounts receivable within one year | 40/41 | €3,770 | €2,070 | -€1,701 | -45.1% |
| Trade receivables | 40 | €3,770 | €0 | -€3,770 | -100% |
| Other amounts receivable | 41 | - | €2,070 | +€2,070 | |
| Cash at bank and in hand | 54/58 | €44,178 | €11,124 | -€33,054 | -74.8% |
| Deferred charges and accrued income | 490/1 | €15,891 | €10,933 | -€4,958 | -31.2% |
| Total equity and liabilities | 10/49 | €4,160,185 | €4,087,645 | -€72,541 | -1.7% |
| Equity | 10/15 | €1,478,009 | €1,491,854 | +€13,845 | +0.9% |
| Contributions | 10/11 | €1,071,000 | €1,071,000 | = | 0.0% |
| Capital | 10 | €1,071,000 | €1,071,000 | = | 0.0% |
| Issued capital | 100 | €1,071,000 | €1,071,000 | = | 0.0% |
| Reserves | 13 | €407,009 | €420,854 | +€13,845 | +3.4% |
| Non-distributable reserves | 130/1 | €24,840 | €27,501 | +€2,661 | +10.7% |
| Legal reserve | 130 | €24,840 | €27,501 | +€2,661 | +10.7% |
| Tax-exempt reserves | 132 | €29,492 | €25,170 | -€4,323 | -14.7% |
| Distributable reserves | 133 | €352,677 | €368,183 | +€15,506 | +4.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €9,831 | €8,390 | -€1,441 | -14.7% |
| Deferred taxes | 168 | €9,831 | €8,390 | -€1,441 | -14.7% |
| Amounts payable | 17/49 | €2,672,345 | €2,587,401 | -€84,945 | -3.2% |
| Amounts payable after more than one year | 17 | €857,091 | €713,067 | -€144,024 | -16.8% |
| Financial debts | 170/4 | €856,616 | €712,592 | -€144,024 | -16.8% |
| Other amounts payable | 178/9 | €475 | €475 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,810,219 | €1,867,574 | +€57,355 | +3.2% |
| Current portion of amounts payable after more than one year | 42 | €92,590 | €98,241 | +€5,651 | +6.1% |
| Financial debts | 43 | €425,000 | €450,000 | +€25,000 | +5.9% |
| Credit institutions | 430/8 | - | €450,000 | +€450,000 | |
| Other loans | 439 | €425,000 | - | -€425,000 | |
| Trade debts | 44 | €20,755 | €17,958 | -€2,797 | -13.5% |
| Suppliers | 440/4 | €20,755 | €17,958 | -€2,797 | -13.5% |
| Taxes, remuneration and social security | 45 | €11,874 | €6,317 | -€5,557 | -46.8% |
| Taxes | 450/3 | €11,874 | €6,317 | -€5,557 | -46.8% |
| Other amounts payable | 47/48 | €1,260,000 | €1,295,058 | +€35,058 | +2.8% |
| Accrued charges and deferred income | 492/3 | €5,036 | €6,760 | +€1,724 | +34.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €137,853 | €206,520 | +€68,667 | +49.8% |
| Other operating charges | 640/8 | €20,191 | €33,230 | +€13,038 | +64.6% |
| Gross operating margin | 9900 | €348,598 | €498,487 | +€149,890 | +43.0% |
| Operating profit (loss) | 9901 | €190,554 | €258,738 | +€68,184 | +35.8% |
| Financial income | 75/76B | €1 | €0 | -€0 | -88.2% |
| Recurring financial income | 75 | €1 | €0 | -€0 | -88.2% |
| Financial charges | 65/66B | €117,790 | €183,345 | +€65,555 | +55.7% |
| Recurring financial charges | 65 | €117,790 | €183,345 | +€65,555 | +55.7% |
| Profit (loss) for the period before taxes | 9903 | €72,764 | €75,392 | +€2,628 | +3.6% |
| Transfer from deferred taxes | 780 | €961 | €1,441 | +€480 | +50.0% |
| Income taxes | 67/77 | €25,088 | €27,930 | +€2,843 | +11.3% |
| Profit (loss) for the period | 9904 | €48,637 | €48,903 | +€266 | +0.5% |
| Transfer from tax-exempt reserves | 789 | €2,882 | €4,323 | +€1,441 | +50.0% |
| Profit (loss) for the period to be appropriated | 9905 | €51,519 | €53,226 | +€1,707 | +3.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.