DIMITRI SCHAFF: 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 SCHAFF
Largest movements
- Tangible fixed assets +€103,717
up €103,717 (+84.0%), from €123,424 to €227,141
of which Leasing and similar rights: +€95,430
- Receivables within one year +€37,935
up €37,935 (+288%), from €13,170 to €51,106
of which Trade receivables: +€29,214
- Stocks and contracts +€33,646
up €33,646 (+107%), from €31,363 to €65,009
- Cash -€16,415
down €16,415 (-82.3%), from €19,952 to €3,538
mainly Investment in fixed assets (net) (-€146,801) and Other debts (-€47,468)
- Deferred charges and accrued income +€8,872
up €8,872 (+828%), from €1,072 to €9,943
- Debts after one year +€130,427
up €130,427 (+256%), from €50,904 to €181,331
of which Financial debts: +€81,126
- Other debts -€47,468
down €47,468 (-100%), from €47,468 to €0
- Trade debts +€46,667
up €46,667 (+322%), from €14,511 to €61,178
- Current portion of long-term debt +€22,252
up €22,252 (+68.0%), from €32,734 to €54,986
- Reserves +€12,331
up €12,331 (+47.6%), from €25,903 to €38,234
- Gross operating margin +€62,357
up €62,357 (+68.1%), from €91,528 to €153,885
- Staff costs +€53,946
up €53,946 (+155%), from €34,820 to €88,766
- Financial charges +€2,508
up €2,508 (+58.1%), from €4,315 to €6,823
- Other operating charges +€1,596
up €1,596 (+264%), from €605 to €2,201
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 | €188,982 | €356,737 | +€167,755 | +88.8% |
| Fixed assets | 21/28 | €123,424 | €227,141 | +€103,717 | +84.0% |
| Tangible fixed assets | 22/27 | €123,424 | €227,141 | +€103,717 | +84.0% |
| Plant, machinery and equipment | 23 | €26,147 | €38,687 | +€12,540 | +48.0% |
| Furniture and vehicles | 24 | €27,291 | €23,851 | -€3,440 | -12.6% |
| Leasing and similar rights | 25 | €18,381 | €113,811 | +€95,430 | +519% |
| Other tangible fixed assets | 26 | €51,606 | €50,792 | -€814 | -1.6% |
| Current assets | 29/58 | €65,558 | €129,596 | +€64,038 | +97.7% |
| Stocks and contracts in progress | 3 | €31,363 | €65,009 | +€33,646 | +107% |
| Stocks | 30/36 | €31,363 | €65,009 | +€33,646 | +107% |
| Amounts receivable within one year | 40/41 | €13,170 | €51,106 | +€37,935 | +288% |
| Trade receivables | 40 | €1,054 | €30,268 | +€29,214 | +2,773% |
| Other amounts receivable | 41 | €12,117 | €20,838 | +€8,721 | +72.0% |
| Cash at bank and in hand | 54/58 | €19,952 | €3,538 | -€16,415 | -82.3% |
| Deferred charges and accrued income | 490/1 | €1,072 | €9,943 | +€8,872 | +828% |
| Total equity and liabilities | 10/49 | €188,982 | €356,737 | +€167,755 | +88.8% |
| Equity | 10/15 | €30,903 | €43,234 | +€12,331 | +39.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €25,903 | €38,234 | +€12,331 | +47.6% |
| Distributable reserves | 133 | €25,903 | €38,234 | +€12,331 | +47.6% |
| Amounts payable | 17/49 | €158,079 | €313,503 | +€155,424 | +98.3% |
| Amounts payable after more than one year | 17 | €50,904 | €181,331 | +€130,427 | +256% |
| Financial debts | 170/4 | €50,904 | €132,030 | +€81,126 | +159% |
| Other amounts payable | 178/9 | - | €49,301 | +€49,301 | |
| Amounts payable within one year | 42/48 | €107,175 | €132,172 | +€24,997 | +23.3% |
| Current portion of amounts payable after more than one year | 42 | €32,734 | €54,986 | +€22,252 | +68.0% |
| Trade debts | 44 | €14,511 | €61,178 | +€46,667 | +322% |
| Suppliers | 440/4 | €14,511 | €61,178 | +€46,667 | +322% |
| Taxes, remuneration and social security | 45 | €12,462 | €16,008 | +€3,546 | +28.5% |
| Taxes | 450/3 | €6,904 | €5,644 | -€1,260 | -18.3% |
| Remuneration and social security | 454/9 | €5,558 | €10,364 | +€4,806 | +86.5% |
| Other amounts payable | 47/48 | €47,468 | €0 | -€47,468 | -100% |
| Remuneration, social security and pensions | 62 | €34,820 | €88,766 | +€53,946 | +155% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,446 | €43,085 | +€639 | +1.5% |
| Other operating charges | 640/8 | €605 | €2,201 | +€1,596 | +264% |
| Gross operating margin | 9900 | €91,528 | €153,885 | +€62,357 | +68.1% |
| Operating profit (loss) | 9901 | €13,658 | €19,834 | +€6,176 | +45.2% |
| Financial income | 75/76B | €1,134 | €576 | -€558 | -49.2% |
| Recurring financial income | 75 | €1,134 | €576 | -€558 | -49.2% |
| Financial charges | 65/66B | €4,315 | €6,823 | +€2,508 | +58.1% |
| Recurring financial charges | 65 | €4,315 | €6,823 | +€2,508 | +58.1% |
| Profit (loss) for the period before taxes | 9903 | €10,476 | €13,587 | +€3,110 | +29.7% |
| Income taxes | 67/77 | €2,166 | €1,256 | -€911 | -42.0% |
| Profit (loss) for the period | 9904 | €8,310 | €12,331 | +€4,021 | +48.4% |
| Profit (loss) for the period to be appropriated | 9905 | €8,310 | €12,331 | +€4,021 | +48.4% |
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 18 October 2026 via checked.be.