Dirk De Schepper: 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.
Dirk De Schepper
Largest movements
- Receivables within one year +€29,549
up €29,549 (+166.5%), from €17,746 to €47,295
of which Trade receivables: +€23,855
- Cash -€13,261
down €13,261 (-20.3%), from €65,315 to €52,054
mainly Receivables within one year (-€29,549) and Contributions, distributions and other (-€13,837)
- Tangible fixed assets -€7,979
down €7,979 (-57.1%), from €13,982 to €6,003
of which Other tangible fixed assets: -€6,327
- Stocks and contracts -€2,831
down €2,831 (-25.7%), from €11,017 to €8,186
- Trade debts +€7,753
up €7,753 (+111.8%), from €6,934 to €14,687
- Other debts +€7,329
up €7,329 (+60.9%), from €12,033 to €19,362
- Tax, wage and social debts -€6,090
down €6,090 (-88.5%), from €6,882 to €792
- Reserves -€3,421
down €3,421 (-5.0%), from €68,137 to €64,716
- Gross operating margin +€5,201
up €5,201 (+26.4%), from €19,680 to €24,881
- Taxes +€1,601
up €1,601 (+47.6%), from €3,364 to €4,965
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 | €108,811 | €114,382 | +€5,571 | +5.1% |
| Fixed assets | 21/28 | €13,982 | €6,003 | -€7,979 | -57.1% |
| Tangible fixed assets | 22/27 | €13,982 | €6,003 | -€7,979 | -57.1% |
| Plant, machinery and equipment | 23 | €3,923 | €3,207 | -€716 | -18.3% |
| Furniture and vehicles | 24 | €1,987 | €1,051 | -€936 | -47.1% |
| Other tangible fixed assets | 26 | €8,072 | €1,745 | -€6,327 | -78.4% |
| Current assets | 29/58 | €94,829 | €108,379 | +€13,550 | +14.3% |
| Stocks and contracts in progress | 3 | €11,017 | €8,186 | -€2,831 | -25.7% |
| Stocks | 30/36 | €11,017 | €8,186 | -€2,831 | -25.7% |
| Amounts receivable within one year | 40/41 | €17,746 | €47,295 | +€29,549 | +166.5% |
| Trade receivables | 40 | €9,079 | €32,934 | +€23,855 | +262.7% |
| Other amounts receivable | 41 | €8,667 | €14,361 | +€5,694 | +65.7% |
| Cash at bank and in hand | 54/58 | €65,315 | €52,054 | -€13,261 | -20.3% |
| Deferred charges and accrued income | 490/1 | €751 | €844 | +€93 | +12.4% |
| Total equity and liabilities | 10/49 | €108,811 | €114,382 | +€5,571 | +5.1% |
| Equity | 10/15 | €82,962 | €79,541 | -€3,421 | -4.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €68,137 | €64,716 | -€3,421 | -5.0% |
| Distributable reserves | 133 | €68,137 | €64,716 | -€3,421 | -5.0% |
| Profit (loss) carried forward | 14 | €2,425 | €2,425 | = | 0.0% |
| Amounts payable | 17/49 | €25,849 | €34,841 | +€8,992 | +34.8% |
| Amounts payable within one year | 42/48 | €25,849 | €34,841 | +€8,992 | +34.8% |
| Trade debts | 44 | €6,934 | €14,687 | +€7,753 | +111.8% |
| Suppliers | 440/4 | €6,934 | €14,687 | +€7,753 | +111.8% |
| Taxes, remuneration and social security | 45 | €6,882 | €792 | -€6,090 | -88.5% |
| Taxes | 450/3 | €6,882 | €792 | -€6,090 | -88.5% |
| Other amounts payable | 47/48 | €12,033 | €19,362 | +€7,329 | +60.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,657 | €8,609 | -€48 | -0.6% |
| Other operating charges | 640/8 | €823 | €721 | -€102 | -12.4% |
| Gross operating margin | 9900 | €19,680 | €24,881 | +€5,201 | +26.4% |
| Operating profit (loss) | 9901 | €10,200 | €15,551 | +€5,351 | +52.5% |
| Financial income | 75/76B | €2 | €6 | +€4 | +200.0% |
| Recurring financial income | 75 | €2 | €6 | +€4 | +200.0% |
| Financial charges | 65/66B | €233 | €176 | -€57 | -24.5% |
| Recurring financial charges | 65 | €233 | €176 | -€57 | -24.5% |
| Profit (loss) for the period before taxes | 9903 | €9,969 | €15,381 | +€5,412 | +54.3% |
| Income taxes | 67/77 | €3,364 | €4,965 | +€1,601 | +47.6% |
| Profit (loss) for the period | 9904 | €6,605 | €10,416 | +€3,811 | +57.7% |
| Profit (loss) for the period to be appropriated | 9905 | €6,605 | €10,416 | +€3,811 | +57.7% |
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 10 October 2026 via checked.be.