DL&D: 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.
DL&D
Largest movements
- Tangible fixed assets -€8,023
down €8,023 (-20.3%), from €39,562 to €31,540
of which Plant, machinery and equipment: -€5,562
- Intangible fixed assets -€6,500
down €6,500 (-13.4%), from €48,332 to €41,832
- Debts after one year -€10,345
down €10,345 (-43.1%), from €24,002 to €13,656
- Profit (loss) carried forward -€7,339
down €7,339 (-19.8%), from -€37,045 to -€44,384
- Other debts +€7,206
up €7,206 (+10.8%), from €66,806 to €74,012
- Trade debts -€3,296
down €3,296 (-25.2%), from €13,076 to €9,780
- Staff costs +€29,252
up €29,252 (+24.1%), from €121,312 to €150,563
- Gross operating margin +€8,028
up €8,028 (+5.2%), from €155,214 to €163,242
- Financial charges -€2,288
down €2,288 (-41.7%), from €5,492 to €3,204
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 | €104,064 | €91,235 | -€12,830 | -12.3% |
| Fixed assets | 21/28 | €88,109 | €73,802 | -€14,307 | -16.2% |
| Intangible fixed assets | 21 | €48,332 | €41,832 | -€6,500 | -13.4% |
| Tangible fixed assets | 22/27 | €39,562 | €31,540 | -€8,023 | -20.3% |
| Plant, machinery and equipment | 23 | €31,808 | €26,246 | -€5,562 | -17.5% |
| Furniture and vehicles | 24 | €7,755 | €5,294 | -€2,461 | -31.7% |
| Financial fixed assets | 28 | €216 | €431 | +€216 | +100.0% |
| Current assets | 29/58 | €15,955 | €17,432 | +€1,478 | +9.3% |
| Stocks and contracts in progress | 3 | €8,316 | €9,281 | +€965 | +11.6% |
| Stocks | 30/36 | €8,316 | €9,281 | +€965 | +11.6% |
| Amounts receivable within one year | 40/41 | €1,008 | €1,297 | +€289 | +28.7% |
| Trade receivables | 40 | €860 | - | -€860 | |
| Other amounts receivable | 41 | €148 | €1,297 | +€1,149 | +776.4% |
| Current investments | 50/53 | €3 | €1 | -€2 | -78.5% |
| Cash at bank and in hand | 54/58 | €6,403 | €6,771 | +€368 | +5.8% |
| Deferred charges and accrued income | 490/1 | €225 | €83 | -€143 | -63.3% |
| Total equity and liabilities | 10/49 | €104,064 | €91,235 | -€12,830 | -12.3% |
| Equity | 10/15 | -€22,045 | -€29,384 | -€7,339 | -33.3% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€37,045 | -€44,384 | -€7,339 | -19.8% |
| Amounts payable | 17/49 | €126,109 | €120,619 | -€5,490 | -4.4% |
| Amounts payable after more than one year | 17 | €24,002 | €13,656 | -€10,345 | -43.1% |
| Financial debts | 170/4 | €24,002 | €13,656 | -€10,345 | -43.1% |
| Amounts payable within one year | 42/48 | €102,108 | €106,963 | +€4,855 | +4.8% |
| Current portion of amounts payable after more than one year | 42 | €9,857 | €10,345 | +€489 | +5.0% |
| Trade debts | 44 | €13,076 | €9,780 | -€3,296 | -25.2% |
| Suppliers | 440/4 | €13,076 | €9,780 | -€3,296 | -25.2% |
| Taxes, remuneration and social security | 45 | €12,369 | €12,825 | +€456 | +3.7% |
| Taxes | 450/3 | €1,961 | €1,282 | -€679 | -34.6% |
| Remuneration and social security | 454/9 | €10,408 | €11,544 | +€1,135 | +10.9% |
| Other amounts payable | 47/48 | €66,806 | €74,012 | +€7,206 | +10.8% |
| Remuneration, social security and pensions | 62 | €121,312 | €150,563 | +€29,252 | +24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,427 | €14,523 | +€96 | +0.7% |
| Other operating charges | 640/8 | €1,909 | €2,296 | +€387 | +20.3% |
| Gross operating margin | 9900 | €155,214 | €163,242 | +€8,028 | +5.2% |
| Operating profit (loss) | 9901 | €17,566 | -€4,140 | -€21,706 | |
| Financial income | 75/76B | €43 | €5 | -€38 | -88.8% |
| Recurring financial income | 75 | €43 | €5 | -€38 | -88.8% |
| Financial charges | 65/66B | €5,492 | €3,204 | -€2,288 | -41.7% |
| Recurring financial charges | 65 | €5,492 | €3,204 | -€2,288 | -41.7% |
| Profit (loss) for the period before taxes | 9903 | €12,117 | -€7,339 | -€19,457 | |
| Profit (loss) for the period | 9904 | €12,117 | -€7,339 | -€19,457 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,117 | -€7,339 | -€19,457 |
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 2 October 2026 via checked.be.