DIRECT MANAGEMENT FINANCIAL SERVICES: what changed
DIRECT MANAGEMENT FINANCIAL SERVICES
Largest movements
- Receivables within one year -€76,793
down €76,793 (-35.9%), from €213,688 to €136,895
of which Other amounts receivable: -€76,793
- Cash -€7,383
down €7,383 (-73.7%), from €10,020 to €2,637
mainly Net result for the year (-€66,972) and Tax, wage and social debts (-€25,746)
- Profit (loss) carried forward -€66,972
down €66,972 (-37.1%), from €180,371 to €113,399
- Tax, wage and social debts -€25,746
down €25,746 (-92.6%), from €27,807 to €2,061
of which Taxes: -€17,328
- Trade debts +€8,542
up €8,542 (+581%), from €1,470 to €10,012
- Gross operating margin -€151,703
down €151,703, from €99,328 to -€52,375
- Staff costs -€50,874
down €50,874 (-82.3%), from €61,820 to €10,946
- Financial income -€12,005
no longer reported in 2025 (was €12,005)
- Taxes -€9,653
down €9,653 (-76.4%), from €12,639 to €2,986
- Write-downs +€3,681
no longer reported in 2025 (was -€3,681)
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €224,008 | €139,832 | -€84,176 | -37.6% |
| Fixed assets | 21/28 | €300 | €300 | = | 0.0% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €223,708 | €139,532 | -€84,176 | -37.6% |
| Amounts receivable within one year | 40/41 | €213,688 | €136,895 | -€76,793 | -35.9% |
| Trade receivables | 40 | €3 | €3 | = | 0.0% |
| Other amounts receivable | 41 | €213,685 | €136,892 | -€76,793 | -35.9% |
| Cash at bank and in hand | 54/58 | €10,020 | €2,637 | -€7,383 | -73.7% |
| Total equity and liabilities | 10/49 | €224,008 | €139,832 | -€84,176 | -37.6% |
| Equity | 10/15 | €194,731 | €127,759 | -€66,972 | -34.4% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Contributions outside capital | 11 | €12,500 | - | -€12,500 | |
| Share premium | 1100/10 | €12,500 | - | -€12,500 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €180,371 | €113,399 | -€66,972 | -37.1% |
| Amounts payable | 17/49 | €29,277 | €12,073 | -€17,204 | -58.8% |
| Amounts payable within one year | 42/48 | €29,277 | €12,073 | -€17,204 | -58.8% |
| Trade debts | 44 | €1,470 | €10,012 | +€8,542 | +581% |
| Suppliers | 440/4 | €1,470 | €10,012 | +€8,542 | +581% |
| Taxes, remuneration and social security | 45 | €27,807 | €2,061 | -€25,746 | -92.6% |
| Taxes | 450/3 | €19,389 | €2,061 | -€17,328 | -89.4% |
| Remuneration and social security | 454/9 | €8,418 | - | -€8,418 | |
| Remuneration, social security and pensions | 62 | €61,820 | €10,946 | -€50,874 | -82.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€3,681 | - | +€3,681 | |
| Other operating charges | 640/8 | €128 | €118 | -€10 | -7.8% |
| Gross operating margin | 9900 | €99,328 | -€52,375 | -€151,703 | |
| Operating profit (loss) | 9901 | €41,061 | -€63,439 | -€104,500 | |
| Financial income | 75/76B | €12,005 | - | -€12,005 | |
| Recurring financial income | 75 | €12,005 | - | -€12,005 | |
| Financial charges | 65/66B | €453 | €547 | +€94 | +20.8% |
| Recurring financial charges | 65 | €453 | €547 | +€94 | +20.8% |
| Profit (loss) for the period before taxes | 9903 | €52,613 | -€63,986 | -€116,599 | |
| Income taxes | 67/77 | €12,639 | €2,986 | -€9,653 | -76.4% |
| Profit (loss) for the period | 9904 | €39,974 | -€66,972 | -€106,946 | |
| Profit (loss) for the period to be appropriated | 9905 | €39,974 | -€66,972 | -€106,946 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.