DIRK GORISSEN: 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 GORISSEN
Largest movements
- Tangible fixed assets +€873,845
up €873,845 (+72.8%), from €1.2m to €2.1m
of which Plant, machinery and equipment: +€1.0m
- Deferred charges and accrued income +€470,876
new in 2025: €470,876
- Receivables within one year +€200,592
up €200,592 (+32.7%), from €613,784 to €814,376
of which Trade receivables: +€217,786
- Cash -€49,116
down €49,116 (-98.8%), from €49,688 to €572
mainly Investment in fixed assets (net) (-€1.3m) and Deferred charges and accrued income (-€470,876)
- Other debts +€1.1m
up €1.1m (+109%), from €977,813 to €2.0m
- Trade debts +€540,686
up €540,686 (+2,725%), from €19,841 to €560,527
- Current portion of long-term debt -€302,586
down €302,586 (-47.6%), from €635,070 to €332,483
- Short-term financial debts +€99,015
up €99,015 (+2,967%), from €3,337 to €102,352
- Advances received +€81,192
new in 2025: €81,192
- Gross operating margin -€137,429
down €137,429 (-16.3%), from €842,818 to €705,389
- Staff costs -€62,972
down €62,972 (-26.1%), from €240,917 to €177,945
- Financial charges -€58,614
down €58,614 (-46.7%), from €125,475 to €66,860
- Depreciation -€25,886
down €25,886 (-5.5%), from €470,735 to €444,848
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 | €2,606,592 | €4,078,974 | +€1.5m | +56.5% |
| Fixed assets | 21/28 | €1,369,720 | €2,224,748 | +€855,029 | +62.4% |
| Intangible fixed assets | 21 | €169,345 | €150,529 | -€18,816 | -11.1% |
| Tangible fixed assets | 22/27 | €1,200,375 | €2,074,219 | +€873,845 | +72.8% |
| Land and buildings | 22 | €59,383 | €55,111 | -€4,271 | -7.2% |
| Plant, machinery and equipment | 23 | €370,430 | €1,386,441 | +€1.0m | +274% |
| Furniture and vehicles | 24 | €360,005 | €318,365 | -€41,640 | -11.6% |
| Leasing and similar rights | 25 | €410,558 | €314,302 | -€96,256 | -23.4% |
| Current assets | 29/58 | €1,236,873 | €1,854,225 | +€617,353 | +49.9% |
| Stocks and contracts in progress | 3 | €573,400 | €568,401 | -€4,999 | -0.9% |
| Stocks | 30/36 | €573,400 | €568,401 | -€4,999 | -0.9% |
| Amounts receivable within one year | 40/41 | €613,784 | €814,376 | +€200,592 | +32.7% |
| Trade receivables | 40 | €483,645 | €701,431 | +€217,786 | +45.0% |
| Other amounts receivable | 41 | €130,139 | €112,945 | -€17,194 | -13.2% |
| Cash at bank and in hand | 54/58 | €49,688 | €572 | -€49,116 | -98.8% |
| Deferred charges and accrued income | 490/1 | - | €470,876 | +€470,876 | |
| Total equity and liabilities | 10/49 | €2,606,592 | €4,078,974 | +€1.5m | +56.5% |
| Equity | 10/15 | €357,301 | €372,992 | +€15,692 | +4.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | €12,400 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €184,719 | €184,719 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €182,859 | €182,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €160,182 | €175,873 | +€15,692 | +9.8% |
| Amounts payable | 17/49 | €2,249,292 | €3,705,982 | +€1.5m | +64.8% |
| Amounts payable after more than one year | 17 | €613,232 | €581,712 | -€31,519 | -5.1% |
| Financial debts | 170/4 | €613,232 | €581,712 | -€31,519 | -5.1% |
| Amounts payable within one year | 42/48 | €1,636,060 | €3,124,269 | +€1.5m | +91.0% |
| Current portion of amounts payable after more than one year | 42 | €635,070 | €332,483 | -€302,586 | -47.6% |
| Financial debts | 43 | €3,337 | €102,352 | +€99,015 | +2,967% |
| Credit institutions | 430/8 | €3,337 | €102,352 | +€99,015 | +2,967% |
| Trade debts | 44 | €19,841 | €560,527 | +€540,686 | +2,725% |
| Suppliers | 440/4 | €19,841 | €560,527 | +€540,686 | +2,725% |
| Advances received on contracts in progress | 46 | - | €81,192 | +€81,192 | |
| Other amounts payable | 47/48 | €977,813 | €2,047,715 | +€1.1m | +109% |
| Remuneration, social security and pensions | 62 | €240,917 | €177,945 | -€62,972 | -26.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €470,735 | €444,848 | -€25,886 | -5.5% |
| Other operating charges | 640/8 | €189 | €44 | -€145 | -76.7% |
| Gross operating margin | 9900 | €842,818 | €705,389 | -€137,429 | -16.3% |
| Operating profit (loss) | 9901 | €130,978 | €82,552 | -€48,426 | -37.0% |
| Financial income | 75/76B | €70 | €0 | -€70 | -100.0% |
| Recurring financial income | 75 | €70 | €0 | -€70 | -100.0% |
| Financial charges | 65/66B | €125,475 | €66,860 | -€58,614 | -46.7% |
| Recurring financial charges | 65 | €125,475 | €66,860 | -€58,614 | -46.7% |
| Profit (loss) for the period before taxes | 9903 | €5,573 | €15,692 | +€10,118 | +182% |
| Profit (loss) for the period | 9904 | €5,573 | €15,692 | +€10,118 | +182% |
| Profit (loss) for the period to be appropriated | 9905 | €5,573 | €15,692 | +€10,118 | +182% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.