Didier DEMBLON: 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.
Didier DEMBLON
Largest movements
- Receivables within one year -€39,082
down €39,082 (-39.9%), from €98,055 to €58,973
of which Trade receivables: -€53,286
- Cash -€7,929
down €7,929 (-6.4%), from €124,297 to €116,368
mainly Investment in fixed assets (net) (-€60,321) and Contributions, distributions and other (-€53,000)
- Reserves -€53,000
down €53,000 (-24.9%), from €212,630 to €159,630
- Profit (loss) carried forward -€50,743
down €50,743 (-64.5%), from €78,674 to €27,930
- Other debts +€47,783
new in 2025: €47,783
- Tax, wage and social debts -€9,014
down €9,014 (-21.2%), from €42,420 to €33,407
of which Taxes: -€11,281
- Trade debts +€8,828
up €8,828 (+37.0%), from €23,833 to €32,661
- Staff costs +€42,269
up €42,269 (+14.7%), from €287,396 to €329,665
- Gross operating margin -€21,646
down €21,646 (-5.9%), from €369,705 to €348,059
- Depreciation +€16,925
up €16,925 (+39.4%), from €42,989 to €59,915
- Taxes -€6,666
down €6,666 (-95.7%), from €6,967 to €301
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 | €504,241 | €458,283 | -€45,958 | -9.1% |
| Fixed assets | 21/28 | €182,280 | €182,686 | +€406 | +0.2% |
| Tangible fixed assets | 22/27 | €173,348 | €172,927 | -€422 | -0.2% |
| Plant, machinery and equipment | 23 | €42,023 | €33,834 | -€8,190 | -19.5% |
| Furniture and vehicles | 24 | €131,325 | €139,093 | +€7,768 | +5.9% |
| Financial fixed assets | 28 | €8,932 | €9,759 | +€828 | +9.3% |
| Current assets | 29/58 | €321,961 | €275,597 | -€46,364 | -14.4% |
| Stocks and contracts in progress | 3 | €85,269 | €85,972 | +€703 | +0.8% |
| Stocks | 30/36 | €85,269 | €85,972 | +€703 | +0.8% |
| Amounts receivable within one year | 40/41 | €98,055 | €58,973 | -€39,082 | -39.9% |
| Trade receivables | 40 | €86,887 | €33,601 | -€53,286 | -61.3% |
| Other amounts receivable | 41 | €11,168 | €25,372 | +€14,204 | +127% |
| Cash at bank and in hand | 54/58 | €124,297 | €116,368 | -€7,929 | -6.4% |
| Deferred charges and accrued income | 490/1 | €14,341 | €14,284 | -€57 | -0.4% |
| Total equity and liabilities | 10/49 | €504,241 | €458,283 | -€45,958 | -9.1% |
| Equity | 10/15 | €309,896 | €206,152 | -€103,743 | -33.5% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €212,630 | €159,630 | -€53,000 | -24.9% |
| Distributable reserves | 133 | €212,630 | €159,630 | -€53,000 | -24.9% |
| Profit (loss) carried forward | 14 | €78,674 | €27,930 | -€50,743 | -64.5% |
| Amounts payable | 17/49 | €194,346 | €252,131 | +€57,785 | +29.7% |
| Amounts payable after more than one year | 17 | €93,887 | €100,240 | +€6,353 | +6.8% |
| Financial debts | 170/4 | €93,887 | €100,240 | +€6,353 | +6.8% |
| Amounts payable within one year | 42/48 | €100,459 | €151,891 | +€51,432 | +51.2% |
| Current portion of amounts payable after more than one year | 42 | €34,206 | €38,041 | +€3,835 | +11.2% |
| Trade debts | 44 | €23,833 | €32,661 | +€8,828 | +37.0% |
| Suppliers | 440/4 | €23,833 | €32,661 | +€8,828 | +37.0% |
| Taxes, remuneration and social security | 45 | €42,420 | €33,407 | -€9,014 | -21.2% |
| Taxes | 450/3 | €14,840 | €3,560 | -€11,281 | -76.0% |
| Remuneration and social security | 454/9 | €27,580 | €29,847 | +€2,267 | +8.2% |
| Other amounts payable | 47/48 | - | €47,783 | +€47,783 | |
| Remuneration, social security and pensions | 62 | €287,396 | €329,665 | +€42,269 | +14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,989 | €59,915 | +€16,925 | +39.4% |
| Other operating charges | 640/8 | €2,865 | €2,183 | -€683 | -23.8% |
| Gross operating margin | 9900 | €369,705 | €348,059 | -€21,646 | -5.9% |
| Operating profit (loss) | 9901 | €36,454 | -€43,703 | -€80,158 | |
| Financial income | 75/76B | €1,209 | €4,048 | +€2,839 | +235% |
| Recurring financial income | 75 | €1,209 | €4,048 | +€2,839 | +235% |
| Financial charges | 65/66B | €8,576 | €10,787 | +€2,211 | +25.8% |
| Recurring financial charges | 65 | €8,576 | €10,787 | +€2,211 | +25.8% |
| Profit (loss) for the period before taxes | 9903 | €29,088 | -€50,442 | -€79,530 | |
| Income taxes | 67/77 | €6,967 | €301 | -€6,666 | -95.7% |
| Profit (loss) for the period | 9904 | €22,120 | -€50,743 | -€72,864 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,120 | -€50,743 | -€72,864 |
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 31 October 2026 via checked.be.