DIMITRI GHEQUIRE: 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.
DIMITRI GHEQUIRE
Largest movements
- Cash +€316,997
up €316,997 (+429%), from €73,962 to €390,959
mainly Net result for the year (+€273,400) and Current investments (+€144,841)
- Current investments -€144,841
down €144,841 (-72.0%), from €201,296 to €56,455
- Tangible fixed assets +€106,103
up €106,103 (+681%), from €15,585 to €121,688
of which Leasing and similar rights: +€109,067
- Receivables within one year -€32,749
down €32,749 (-10.9%), from €301,229 to €268,480
- Deferred charges and accrued income +€8,699
up €8,699 (+461%), from €1,889 to €10,588
- Reserves +€222,130
up €222,130 (+47.2%), from €470,439 to €692,569
- Debts after one year +€85,793
new in 2025: €85,793
- Tax, wage and social debts -€67,214
down €67,214 (-63.2%), from €106,329 to €39,115
of which Taxes: -€67,016
- Current portion of long-term debt +€22,327
new in 2025: €22,327
- Trade debts -€10,858
down €10,858 (-68.1%), from €15,953 to €5,095
- Gross operating margin -€29,867
down €29,867 (-6.9%), from €432,329 to €402,462
- Taxes -€13,012
down €13,012 (-9.5%), from €136,879 to €123,867
- Financial income +€8,855
up €8,855 (+506%), from €1,752 to €10,606
- Depreciation +€7,839
up €7,839 (+239%), from €3,282 to €11,121
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 | €593,961 | €848,170 | +€254,209 | +42.8% |
| Fixed assets | 21/28 | €15,585 | €121,688 | +€106,103 | +681% |
| Tangible fixed assets | 22/27 | €15,585 | €121,688 | +€106,103 | +681% |
| Land and buildings | 22 | €3,163 | €2,728 | -€435 | -13.8% |
| Furniture and vehicles | 24 | €12,422 | €9,893 | -€2,529 | -20.4% |
| Leasing and similar rights | 25 | - | €109,067 | +€109,067 | |
| Current assets | 29/58 | €578,376 | €726,482 | +€148,106 | +25.6% |
| Amounts receivable within one year | 40/41 | €301,229 | €268,480 | -€32,749 | -10.9% |
| Other amounts receivable | 41 | €301,229 | €268,480 | -€32,749 | -10.9% |
| Current investments | 50/53 | €201,296 | €56,455 | -€144,841 | -72.0% |
| Cash at bank and in hand | 54/58 | €73,962 | €390,959 | +€316,997 | +429% |
| Deferred charges and accrued income | 490/1 | €1,889 | €10,588 | +€8,699 | +461% |
| Total equity and liabilities | 10/49 | €593,961 | €848,170 | +€254,209 | +42.8% |
| Equity | 10/15 | €470,539 | €692,669 | +€222,130 | +47.2% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €470,439 | €692,569 | +€222,130 | +47.2% |
| Distributable reserves | 133 | €470,439 | €692,569 | +€222,130 | +47.2% |
| Amounts payable | 17/49 | €123,422 | €155,501 | +€32,079 | +26.0% |
| Amounts payable after more than one year | 17 | - | €85,793 | +€85,793 | |
| Financial debts | 170/4 | - | €85,793 | +€85,793 | |
| Amounts payable within one year | 42/48 | €123,422 | €69,709 | -€53,714 | -43.5% |
| Current portion of amounts payable after more than one year | 42 | - | €22,327 | +€22,327 | |
| Trade debts | 44 | €15,953 | €5,095 | -€10,858 | -68.1% |
| Suppliers | 440/4 | €15,953 | €5,095 | -€10,858 | -68.1% |
| Taxes, remuneration and social security | 45 | €106,329 | €39,115 | -€67,214 | -63.2% |
| Taxes | 450/3 | €103,006 | €35,990 | -€67,016 | -65.1% |
| Remuneration and social security | 454/9 | €3,323 | €3,125 | -€198 | -6.0% |
| Other amounts payable | 47/48 | €1,140 | €3,172 | +€2,032 | +178% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,282 | €11,121 | +€7,839 | +239% |
| Other operating charges | 640/8 | €391 | €1,573 | +€1,181 | +302% |
| Gross operating margin | 9900 | €432,329 | €402,462 | -€29,867 | -6.9% |
| Operating profit (loss) | 9901 | €428,656 | €389,768 | -€38,888 | -9.1% |
| Financial income | 75/76B | €1,752 | €10,606 | +€8,855 | +506% |
| Recurring financial income | 75 | €1,752 | €10,606 | +€8,855 | +506% |
| Financial charges | 65/66B | €1,160 | €3,107 | +€1,947 | +168% |
| Recurring financial charges | 65 | €1,160 | €3,107 | +€1,947 | +168% |
| Profit (loss) for the period before taxes | 9903 | €429,248 | €397,267 | -€31,981 | -7.5% |
| Income taxes | 67/77 | €136,879 | €123,867 | -€13,012 | -9.5% |
| Profit (loss) for the period | 9904 | €292,369 | €273,400 | -€18,968 | -6.5% |
| Profit (loss) for the period to be appropriated | 9905 | €292,369 | €273,400 | -€18,968 | -6.5% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.