DL-M: 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-M
Largest movements
- Receivables within one year -€3,565
down €3,565 (-12.7%), from €28,164 to €24,599
- Tangible fixed assets -€2,439
down €2,439 (-40.5%), from €6,028 to €3,589
- Profit (loss) carried forward -€3,091
down €3,091 (-14.7%), from -€20,961 to -€24,052
- Short-term financial debts -€2,525
down €2,525 (-87.1%), from €2,900 to €375
- Trade debts -€387
down €387 (-21.4%), from €1,812 to €1,424
- Gross operating margin +€230
up €230 (+24.4%), from -€944 to -€714
- Financial charges +€222
up €222 (+82.3%), from €270 to €491
- Financial income +€147
up €147 (+14.4%), from €1,019 to €1,166
- Other operating charges +€18
up €18 (+3.0%), from €595 to €613
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 | €34,211 | €28,207 | -€6,004 | -17.5% |
| Fixed assets | 21/28 | €6,028 | €3,589 | -€2,439 | -40.5% |
| Tangible fixed assets | 22/27 | €6,028 | €3,589 | -€2,439 | -40.5% |
| Plant, machinery and equipment | 23 | €6,028 | €3,589 | -€2,439 | -40.5% |
| Current assets | 29/58 | €28,183 | €24,618 | -€3,565 | -12.6% |
| Amounts receivable within one year | 40/41 | €28,164 | €24,599 | -€3,565 | -12.7% |
| Other amounts receivable | 41 | €28,164 | €24,599 | -€3,565 | -12.7% |
| Cash at bank and in hand | 54/58 | €19 | €19 | = | 0.0% |
| Total equity and liabilities | 10/49 | €34,211 | €28,207 | -€6,004 | -17.5% |
| Equity | 10/15 | €29,499 | €26,408 | -€3,091 | -10.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €44,260 | €44,260 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €42,405 | €42,405 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,961 | -€24,052 | -€3,091 | -14.7% |
| Amounts payable | 17/49 | €4,712 | €1,799 | -€2,913 | -61.8% |
| Amounts payable within one year | 42/48 | €4,712 | €1,799 | -€2,913 | -61.8% |
| Financial debts | 43 | €2,900 | €375 | -€2,525 | -87.1% |
| Credit institutions | 430/8 | €2,900 | €375 | -€2,525 | -87.1% |
| Trade debts | 44 | €1,812 | €1,424 | -€387 | -21.4% |
| Suppliers | 440/4 | €1,812 | €1,424 | -€387 | -21.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,439 | €2,439 | = | 0.0% |
| Other operating charges | 640/8 | €595 | €613 | +€18 | +3.0% |
| Gross operating margin | 9900 | -€944 | -€714 | +€230 | +24.4% |
| Operating profit (loss) | 9901 | -€3,979 | -€3,766 | +€212 | +5.3% |
| Financial income | 75/76B | €1,019 | €1,166 | +€147 | +14.4% |
| Recurring financial income | 75 | €1,019 | €1,166 | +€147 | +14.4% |
| Financial charges | 65/66B | €270 | €491 | +€222 | +82.3% |
| Recurring financial charges | 65 | €270 | €491 | +€222 | +82.3% |
| Profit (loss) for the period before taxes | 9903 | -€3,229 | -€3,091 | +€138 | +4.3% |
| Profit (loss) for the period | 9904 | -€3,229 | -€3,091 | +€138 | +4.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,229 | -€3,091 | +€138 | +4.3% |
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 6 October 2026 via checked.be.