DIRECT DRIVE: 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.
DIRECT DRIVE
Largest movements
- Receivables within one year +€92,833
up €92,833 (+44.5%), from €208,537 to €301,369
of which Other amounts receivable: +€91,818
- Intangible fixed assets -€27,143
down €27,143 (-57.0%), from €47,648 to €20,505
- Reserves +€86,168
up €86,168 (+94.6%), from €91,097 to €177,264
- Debts after one year -€29,849
down €29,849 (-56.9%), from €52,415 to €22,566
- Trade debts +€5,660
up €5,660 (+40.3%), from €14,043 to €19,703
- Tax, wage and social debts +€5,529
up €5,529 (+10.2%), from €54,452 to €59,980
- Gross operating margin -€10,322
down €10,322 (-7.3%), from €141,323 to €131,001
- Financial income +€3,715
up €3,715 (+38.7%), from €9,608 to €13,324
- Taxes -€1,538
down €1,538 (-5.2%), from €29,467 to €27,929
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 | €260,184 | €327,963 | +€67,779 | +26.1% |
| Fixed assets | 21/28 | €50,277 | €24,947 | -€25,330 | -50.4% |
| Intangible fixed assets | 21 | €47,648 | €20,505 | -€27,143 | -57.0% |
| Tangible fixed assets | 22/27 | €2,629 | €4,442 | +€1,813 | +69.0% |
| Plant, machinery and equipment | 23 | €1,013 | €2,058 | +€1,045 | +103.2% |
| Furniture and vehicles | 24 | €1,615 | €2,383 | +€768 | +47.5% |
| Current assets | 29/58 | €209,907 | €303,015 | +€93,109 | +44.4% |
| Amounts receivable within one year | 40/41 | €208,537 | €301,369 | +€92,833 | +44.5% |
| Trade receivables | 40 | €34,605 | €35,620 | +€1,015 | +2.9% |
| Other amounts receivable | 41 | €173,931 | €265,749 | +€91,818 | +52.8% |
| Cash at bank and in hand | 54/58 | €440 | €787 | +€347 | +78.9% |
| Deferred charges and accrued income | 490/1 | €930 | €859 | -€72 | -7.7% |
| Total equity and liabilities | 10/49 | €260,184 | €327,963 | +€67,779 | +26.1% |
| Equity | 10/15 | €109,697 | €195,864 | +€86,168 | +78.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €91,097 | €177,264 | +€86,168 | +94.6% |
| Distributable reserves | 133 | €91,097 | €177,264 | +€86,168 | +94.6% |
| Amounts payable | 17/49 | €150,487 | €132,098 | -€18,389 | -12.2% |
| Amounts payable after more than one year | 17 | €52,415 | €22,566 | -€29,849 | -56.9% |
| Financial debts | 170/4 | €52,415 | €22,566 | -€29,849 | -56.9% |
| Amounts payable within one year | 42/48 | €98,073 | €109,532 | +€11,460 | +11.7% |
| Current portion of amounts payable after more than one year | 42 | €29,578 | €29,849 | +€271 | +0.9% |
| Trade debts | 44 | €14,043 | €19,703 | +€5,660 | +40.3% |
| Suppliers | 440/4 | €14,043 | €19,703 | +€5,660 | +40.3% |
| Taxes, remuneration and social security | 45 | €54,452 | €59,980 | +€5,529 | +10.2% |
| Taxes | 450/3 | €54,452 | €59,980 | +€5,529 | +10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,784 | €28,660 | -€123 | -0.4% |
| Other operating charges | 640/8 | - | €50 | +€50 | |
| Gross operating margin | 9900 | €141,323 | €131,001 | -€10,322 | -7.3% |
| Operating profit (loss) | 9901 | €112,539 | €102,290 | -€10,249 | -9.1% |
| Financial income | 75/76B | €9,608 | €13,324 | +€3,715 | +38.7% |
| Recurring financial income | 75 | €9,608 | €13,324 | +€3,715 | +38.7% |
| Financial charges | 65/66B | €1,584 | €1,517 | -€67 | -4.2% |
| Recurring financial charges | 65 | €1,551 | €1,115 | -€436 | -28.1% |
| Non-recurring financial charges | 66B | €33 | €403 | +€370 | +1124.3% |
| Profit (loss) for the period before taxes | 9903 | €120,564 | €114,096 | -€6,467 | -5.4% |
| Income taxes | 67/77 | €29,467 | €27,929 | -€1,538 | -5.2% |
| Profit (loss) for the period | 9904 | €91,097 | €86,168 | -€4,929 | -5.4% |
| Profit (loss) for the period to be appropriated | 9905 | €91,097 | €86,168 | -€4,929 | -5.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.