DL: 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.
DL
Largest movements
- Tangible fixed assets -€18,352
down €18,352 (-4.2%), from €437,185 to €418,832
- Debts after one year +€82,714
up €82,714 (+1135.2%), from €7,286 to €90,000
- Reserves -€78,990
down €78,990 (-65.1%), from €121,272 to €42,282
of which Distributable reserves: -€78,990
- Current portion of long-term debt -€21,250
down €21,250 (-74.5%), from €28,536 to €7,286
- Financial charges +€1,478
up €1,478 (+143.8%), from €1,027 to €2,505
- Financial income -€1,000
no longer reported in 2025 (was €1,000)
- Taxes -€739
down €739 (-10.3%), from €7,146 to €6,407
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 | €450,279 | €430,527 | -€19,753 | -4.4% |
| Fixed assets | 21/28 | €437,185 | €418,832 | -€18,352 | -4.2% |
| Tangible fixed assets | 22/27 | €437,185 | €418,832 | -€18,352 | -4.2% |
| Land and buildings | 22 | €437,185 | €418,832 | -€18,352 | -4.2% |
| Current assets | 29/58 | €13,095 | €11,695 | -€1,400 | -10.7% |
| Amounts receivable within one year | 40/41 | €1,542 | €4,447 | +€2,905 | +188.4% |
| Other amounts receivable | 41 | €1,542 | €4,447 | +€2,905 | +188.4% |
| Cash at bank and in hand | 54/58 | €11,552 | €7,247 | -€4,305 | -37.3% |
| Total equity and liabilities | 10/49 | €450,279 | €430,527 | -€19,753 | -4.4% |
| Equity | 10/15 | €412,164 | €333,174 | -€78,990 | -19.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €272,292 | €272,292 | = | 0.0% |
| Reserves | 13 | €121,272 | €42,282 | -€78,990 | -65.1% |
| Non-distributable reserves | 130/1 | €9,219 | €9,219 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,675 | €5,675 | = | 0.0% |
| Other | 1319 | €3,544 | €3,544 | = | 0.0% |
| Distributable reserves | 133 | €112,053 | €33,063 | -€78,990 | -70.5% |
| Amounts payable | 17/49 | €38,115 | €97,353 | +€59,238 | +155.4% |
| Amounts payable after more than one year | 17 | €7,286 | €90,000 | +€82,714 | +1135.2% |
| Financial debts | 170/4 | €7,286 | €90,000 | +€82,714 | +1135.2% |
| Amounts payable within one year | 42/48 | €30,829 | €7,353 | -€23,476 | -76.1% |
| Current portion of amounts payable after more than one year | 42 | €28,536 | €7,286 | -€21,250 | -74.5% |
| Trade debts | 44 | €2,226 | - | -€2,226 | |
| Suppliers | 440/4 | €2,226 | - | -€2,226 | |
| Other amounts payable | 47/48 | €67 | €67 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,352 | €18,352 | = | 0.0% |
| Other operating charges | 640/8 | €14,182 | €14,626 | +€444 | +3.1% |
| Gross operating margin | 9900 | €52,933 | €52,900 | -€33 | -0.1% |
| Operating profit (loss) | 9901 | €20,398 | €19,922 | -€476 | -2.3% |
| Financial income | 75/76B | €1,000 | - | -€1,000 | |
| Recurring financial income | 75 | €1,000 | - | -€1,000 | |
| Financial charges | 65/66B | €1,027 | €2,505 | +€1,478 | +143.8% |
| Recurring financial charges | 65 | €1,027 | €2,505 | +€1,478 | +143.8% |
| Profit (loss) for the period before taxes | 9903 | €20,371 | €17,417 | -€2,954 | -14.5% |
| Income taxes | 67/77 | €7,146 | €6,407 | -€739 | -10.3% |
| Profit (loss) for the period | 9904 | €13,225 | €11,010 | -€2,216 | -16.8% |
| Profit (loss) for the period to be appropriated | 9905 | €13,225 | €11,010 | -€2,216 | -16.8% |
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 9 October 2026 via checked.be.