DL EQUESTRIAN: 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 EQUESTRIAN
Largest movements
- Cash +€175,695
up €175,695 (+595%), from €29,545 to €205,241
mainly Advances received (+€124,975) and Net result for the year (+€114,585)
- Receivables within one year +€52,811
up €52,811 (+54.5%), from €96,957 to €149,768
of which Other amounts receivable: +€60,284
- Stocks and contracts +€45,735
up €45,735 (+32.9%), from €139,112 to €184,847
- Tangible fixed assets -€12,758
down €12,758 (-33.9%), from €37,680 to €24,922
of which Leasing and similar rights: -€12,096
- Deferred charges and accrued income -€8,805
down €8,805 (-90.7%), from €9,711 to €906
- Advances received +€124,975
new in 2025: €124,975
- Trade debts +€69,396
up €69,396 (+68.5%), from €101,344 to €170,741
- Tax, wage and social debts +€49,818
up €49,818 (+115%), from €43,180 to €92,998
of which Taxes: +€48,233
- Profit (loss) carried forward +€18,801
up €18,801 (+16.8%), from €111,828 to €130,630
- Debts after one year -€11,595
down €11,595 (-37.5%), from €30,907 to €19,312
- Gross operating margin +€111,998
up €111,998 (+67.9%), from €164,917 to €276,915
- Taxes +€24,923
up €24,923 (+118%), from €21,072 to €45,994
- Staff costs +€15,923
up €15,923 (+19.5%), from €81,487 to €97,410
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 | €320,481 | €573,159 | +€252,678 | +78.8% |
| Fixed assets | 21/28 | €45,155 | €32,397 | -€12,758 | -28.3% |
| Tangible fixed assets | 22/27 | €37,680 | €24,922 | -€12,758 | -33.9% |
| Plant, machinery and equipment | 23 | €2,155 | €1,493 | -€662 | -30.7% |
| Leasing and similar rights | 25 | €35,526 | €23,430 | -€12,096 | -34.0% |
| Financial fixed assets | 28 | €7,475 | €7,475 | = | 0.0% |
| Current assets | 29/58 | €275,325 | €540,762 | +€265,436 | +96.4% |
| Stocks and contracts in progress | 3 | €139,112 | €184,847 | +€45,735 | +32.9% |
| Stocks | 30/36 | €139,112 | €184,847 | +€45,735 | +32.9% |
| Amounts receivable within one year | 40/41 | €96,957 | €149,768 | +€52,811 | +54.5% |
| Trade receivables | 40 | €80,000 | €72,527 | -€7,473 | -9.3% |
| Other amounts receivable | 41 | €16,957 | €77,241 | +€60,284 | +356% |
| Cash at bank and in hand | 54/58 | €29,545 | €205,241 | +€175,695 | +595% |
| Deferred charges and accrued income | 490/1 | €9,711 | €906 | -€8,805 | -90.7% |
| Total equity and liabilities | 10/49 | €320,481 | €573,159 | +€252,678 | +78.8% |
| Equity | 10/15 | €130,533 | €149,335 | +€18,801 | +14.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €105 | €105 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €105 | €105 | = | 0.0% |
| Profit (loss) carried forward | 14 | €111,828 | €130,630 | +€18,801 | +16.8% |
| Amounts payable | 17/49 | €189,947 | €423,824 | +€233,877 | +123% |
| Amounts payable after more than one year | 17 | €30,907 | €19,312 | -€11,595 | -37.5% |
| Financial debts | 170/4 | €30,907 | €19,312 | -€11,595 | -37.5% |
| Amounts payable within one year | 42/48 | €159,040 | €404,512 | +€245,472 | +154% |
| Current portion of amounts payable after more than one year | 42 | €10,212 | €10,647 | +€435 | +4.3% |
| Financial debts | 43 | €2,669 | €3,735 | +€1,066 | +39.9% |
| Credit institutions | 430/8 | €2,669 | €2,504 | -€165 | -6.2% |
| Other loans | 439 | - | €1,231 | +€1,231 | |
| Trade debts | 44 | €101,344 | €170,741 | +€69,396 | +68.5% |
| Suppliers | 440/4 | €101,344 | €170,741 | +€69,396 | +68.5% |
| Advances received on contracts in progress | 46 | - | €124,975 | +€124,975 | |
| Taxes, remuneration and social security | 45 | €43,180 | €92,998 | +€49,818 | +115% |
| Taxes | 450/3 | €37,002 | €85,234 | +€48,233 | +130% |
| Remuneration and social security | 454/9 | €6,179 | €7,764 | +€1,585 | +25.7% |
| Other amounts payable | 47/48 | €1,633 | €1,416 | -€217 | -13.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €81,487 | €97,410 | +€15,923 | +19.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,758 | €12,758 | = | 0.0% |
| Other operating charges | 640/8 | €2,430 | €975 | -€1,455 | -59.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €164,917 | €276,915 | +€111,998 | +67.9% |
| Operating profit (loss) | 9901 | €68,242 | €165,772 | +€97,529 | +143% |
| Financial income | 75/76B | €527 | €1,989 | +€1,462 | +277% |
| Recurring financial income | 75 | €527 | €1,989 | +€1,462 | +277% |
| Financial charges | 65/66B | €4,641 | €7,182 | +€2,541 | +54.7% |
| Recurring financial charges | 65 | €4,641 | €7,182 | +€2,541 | +54.7% |
| Profit (loss) for the period before taxes | 9903 | €64,129 | €160,579 | +€96,451 | +150% |
| Income taxes | 67/77 | €21,072 | €45,994 | +€24,923 | +118% |
| Profit (loss) for the period | 9904 | €43,057 | €114,585 | +€71,528 | +166% |
| Profit (loss) for the period to be appropriated | 9905 | €43,057 | €114,585 | +€71,528 | +166% |
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 22 October 2026 via checked.be.