DL & B: 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 & B
Largest movements
- Current investments -€185,000
down €185,000 (-62.1%), from €297,701 to €112,701
- Cash +€177,058
up €177,058 (+120.1%), from €147,431 to €324,489
mainly Current investments (+€185,000) and Receivables within one year (+€120,689)
- Receivables within one year -€120,689
down €120,689 (-78.5%), from €153,781 to €33,092
of which Other amounts receivable: -€123,673
- Other debts -€76,488
down €76,488 (-89.1%), from €85,818 to €9,330
- Profit (loss) carried forward -€39,402
down €39,402 (-80.4%), from -€49,030 to -€88,432
- Gross operating margin +€32,877
up €32,877 (+76.8%), from -€42,801 to -€9,924
- Financial income -€10,903
down €10,903 (-86.8%), from €12,554 to €1,651
- Other operating charges +€5,779
up €5,779 (+191.2%), from €3,023 to €8,802
- Depreciation +€4,167
up €4,167 (+23.6%), from €17,655 to €21,822
- Financial charges -€2,290
down €2,290 (-96.8%), from €2,366 to €76
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 | €760,188 | €644,408 | -€115,780 | -15.2% |
| Fixed assets | 21/28 | €160,762 | €167,521 | +€6,759 | +4.2% |
| Tangible fixed assets | 22/27 | €160,762 | €167,521 | +€6,759 | +4.2% |
| Land and buildings | 22 | €133,621 | €121,246 | -€12,375 | -9.3% |
| Plant, machinery and equipment | 23 | €1,634 | €2,551 | +€917 | +56.1% |
| Furniture and vehicles | 24 | €24,029 | €17,504 | -€6,525 | -27.2% |
| Other tangible fixed assets | 26 | €1,478 | €26,220 | +€24,742 | +1674.0% |
| Current assets | 29/58 | €599,426 | €476,887 | -€122,539 | -20.4% |
| Amounts receivable within one year | 40/41 | €153,781 | €33,092 | -€120,689 | -78.5% |
| Trade receivables | 40 | €613 | €3,597 | +€2,984 | +486.8% |
| Other amounts receivable | 41 | €153,168 | €29,495 | -€123,673 | -80.7% |
| Current investments | 50/53 | €297,701 | €112,701 | -€185,000 | -62.1% |
| Cash at bank and in hand | 54/58 | €147,431 | €324,489 | +€177,058 | +120.1% |
| Deferred charges and accrued income | 490/1 | €513 | €6,605 | +€6,092 | +1187.5% |
| Total equity and liabilities | 10/49 | €760,188 | €644,408 | -€115,780 | -15.2% |
| Equity | 10/15 | €669,270 | €629,868 | -€39,402 | -5.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €712,100 | €712,100 | = | 0.0% |
| Distributable reserves | 133 | €712,100 | €712,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€49,030 | -€88,432 | -€39,402 | -80.4% |
| Amounts payable | 17/49 | €90,918 | €14,540 | -€76,378 | -84.0% |
| Amounts payable within one year | 42/48 | €90,918 | €14,540 | -€76,378 | -84.0% |
| Trade debts | 44 | - | €4,610 | +€4,610 | |
| Suppliers | 440/4 | - | €4,610 | +€4,610 | |
| Taxes, remuneration and social security | 45 | €5,100 | €600 | -€4,500 | -88.2% |
| Taxes | 450/3 | €3,150 | €600 | -€2,550 | -81.0% |
| Remuneration and social security | 454/9 | €1,950 | €0 | -€1,950 | -100.0% |
| Other amounts payable | 47/48 | €85,818 | €9,330 | -€76,488 | -89.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,655 | €21,822 | +€4,167 | +23.6% |
| Other operating charges | 640/8 | €3,023 | €8,802 | +€5,779 | +191.2% |
| Gross operating margin | 9900 | -€42,801 | -€9,924 | +€32,877 | +76.8% |
| Operating profit (loss) | 9901 | -€63,479 | -€40,548 | +€22,931 | +36.1% |
| Financial income | 75/76B | €12,554 | €1,651 | -€10,903 | -86.8% |
| Recurring financial income | 75 | €12,554 | €1,651 | -€10,903 | -86.8% |
| Financial charges | 65/66B | €2,366 | €76 | -€2,290 | -96.8% |
| Recurring financial charges | 65 | €2,366 | €76 | -€2,290 | -96.8% |
| Profit (loss) for the period before taxes | 9903 | -€53,291 | -€38,973 | +€14,318 | +26.9% |
| Income taxes | 67/77 | €324 | €428 | +€104 | +32.1% |
| Profit (loss) for the period | 9904 | -€53,615 | -€39,401 | +€14,214 | +26.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€53,615 | -€39,401 | +€14,214 | +26.5% |
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.