DK Pulse: what changed
Two fiscal 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.
DK Pulse
Largest movements
- Receivables within one year +€102,640
up €102,640 (+5050.4%), from €2,032 to €104,672
of which Trade receivables: +€93,096
- Cash -€41,447
down €41,447 (-51.9%), from €79,851 to €38,404
mainly Debts after one year (-€209,937) and Other debts (-€132,088)
- Reserves +€290,000
up €290,000 (+290.0%), from €100,000 to €390,000
- Debts after one year -€209,937
down €209,937 (-16.4%), from €1.3m to €1.1m
of which Financial debts: -€109,937
- Other debts -€132,088
down €132,088 (-13.2%), from €999,679 to €867,591
- Short-term financial debts +€68,081
new in 2025: €68,081
- Current portion of long-term debt +€65,731
up €65,731 (+134.8%), from €48,776 to €114,507
- Gross operating margin +€257,436
up €257,436 (+159.7%), from €161,204 to €418,640
- Taxes +€63,745
up €63,745 (+223.9%), from €28,469 to €92,214
- Financial charges +€8,699
up €8,699 (+29.4%), from €29,543 to €38,242
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 | €2,503,218 | €2,564,411 | +€61,193 | +2.4% |
| Fixed assets | 21/28 | €2,421,335 | €2,421,335 | = | 0.0% |
| Financial fixed assets | 28 | €2,421,335 | €2,421,335 | = | 0.0% |
| Current assets | 29/58 | €81,883 | €143,076 | +€61,193 | +74.7% |
| Amounts receivable within one year | 40/41 | €2,032 | €104,672 | +€102,640 | +5050.4% |
| Trade receivables | 40 | €1,673 | €94,769 | +€93,096 | +5565.6% |
| Other amounts receivable | 41 | €360 | €9,903 | +€9,544 | +2653.8% |
| Cash at bank and in hand | 54/58 | €79,851 | €38,404 | -€41,447 | -51.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €2,503,218 | €2,564,411 | +€61,193 | +2.4% |
| Equity | 10/15 | €122,892 | €410,234 | +€287,343 | +233.8% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €100,000 | €390,000 | +€290,000 | +290.0% |
| Distributable reserves | 133 | €100,000 | €390,000 | +€290,000 | +290.0% |
| Profit (loss) carried forward | 14 | €2,892 | €234 | -€2,657 | -91.9% |
| Amounts payable | 17/49 | €2,380,326 | €2,154,177 | -€226,149 | -9.5% |
| Amounts payable after more than one year | 17 | €1,281,224 | €1,071,287 | -€209,937 | -16.4% |
| Financial debts | 170/4 | €681,224 | €571,287 | -€109,937 | -16.1% |
| Other amounts payable | 178/9 | €600,000 | €500,000 | -€100,000 | -16.7% |
| Amounts payable within one year | 42/48 | €1,099,102 | €1,081,713 | -€17,389 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | €48,776 | €114,507 | +€65,731 | +134.8% |
| Financial debts | 43 | - | €68,081 | +€68,081 | |
| Credit institutions | 430/8 | - | €68,081 | +€68,081 | |
| Trade debts | 44 | €4,618 | €1,415 | -€3,203 | -69.4% |
| Suppliers | 440/4 | €4,618 | €1,415 | -€3,203 | -69.4% |
| Taxes, remuneration and social security | 45 | €46,029 | €30,120 | -€15,910 | -34.6% |
| Taxes | 450/3 | €46,029 | €30,120 | -€15,910 | -34.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €999,679 | €867,591 | -€132,088 | -13.2% |
| Accrued charges and deferred income | 492/3 | €0 | €1,176 | +€1,176 | |
| Other operating charges | 640/8 | €790 | €841 | +€50 | +6.4% |
| Gross operating margin | 9900 | €161,204 | €418,640 | +€257,436 | +159.7% |
| Operating profit (loss) | 9901 | €160,414 | €417,799 | +€257,385 | +160.5% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €29,543 | €38,242 | +€8,699 | +29.4% |
| Recurring financial charges | 65 | €29,543 | €38,242 | +€8,699 | +29.4% |
| Profit (loss) for the period before taxes | 9903 | €130,871 | €379,557 | +€248,686 | +190.0% |
| Income taxes | 67/77 | €28,469 | €92,214 | +€63,745 | +223.9% |
| Profit (loss) for the period | 9904 | €102,403 | €287,343 | +€184,940 | +180.6% |
| Profit (loss) for the period to be appropriated | 9905 | €102,403 | €287,343 | +€184,940 | +180.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.