DM 2020: 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.
DM 2020
Largest movements
- Tangible fixed assets +€109,451
up €109,451 (+3,290%), from €3,327 to €112,778
of which Furniture and vehicles: +€92,308
- Receivables within one year -€40,396
down €40,396 (-100.0%), from €40,412 to €15
of which Trade receivables: -€39,932
- Cash -€2,101
down €2,101 (-39.0%), from €5,390 to €3,289
mainly Investment in fixed assets (net) (-€134,141) and Net result for the year (-€47,827)
- Stocks and contracts -€2,030
no longer reported in 2025 (was €2,030)
- Other debts +€93,096
up €93,096 (+233%), from €39,871 to €132,967
- Profit (loss) carried forward -€47,827
down €47,827, from €6,441 to -€41,385
- Current portion of long-term debt +€14,016
new in 2025: €14,016
- Debts after one year +€7,423
new in 2025: €7,423
- Trade debts -€1,182
down €1,182 (-34.4%), from €3,440 to €2,258
- Gross operating margin -€54,335
down €54,335, from €34,187 to -€20,148
- Depreciation +€19,951
up €19,951 (+421%), from €4,739 to €24,690
- Financial charges +€1,164
up €1,164 (+498%), from €234 to €1,398
- Staff costs +€669
new in 2025: €669
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 | €52,473 | €117,955 | +€65,483 | +125% |
| Fixed assets | 21/28 | €3,327 | €112,778 | +€109,451 | +3,290% |
| Tangible fixed assets | 22/27 | €3,327 | €112,778 | +€109,451 | +3,290% |
| Plant, machinery and equipment | 23 | €3,327 | €20,469 | +€17,143 | +515% |
| Furniture and vehicles | 24 | - | €92,308 | +€92,308 | |
| Current assets | 29/58 | €49,146 | €5,177 | -€43,968 | -89.5% |
| Stocks and contracts in progress | 3 | €2,030 | - | -€2,030 | |
| Contracts in progress | 37 | €2,030 | - | -€2,030 | |
| Amounts receivable within one year | 40/41 | €40,412 | €15 | -€40,396 | -100.0% |
| Trade receivables | 40 | €39,932 | - | -€39,932 | |
| Other amounts receivable | 41 | €480 | €15 | -€465 | -96.8% |
| Cash at bank and in hand | 54/58 | €5,390 | €3,289 | -€2,101 | -39.0% |
| Deferred charges and accrued income | 490/1 | €1,314 | €1,873 | +€559 | +42.6% |
| Total equity and liabilities | 10/49 | €52,473 | €117,955 | +€65,483 | +125% |
| Equity | 10/15 | €8,941 | -€38,885 | -€47,827 | |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,441 | -€41,385 | -€47,827 | |
| Amounts payable | 17/49 | €43,531 | €156,840 | +€113,309 | +260% |
| Amounts payable after more than one year | 17 | - | €7,423 | +€7,423 | |
| Financial debts | 170/4 | - | €7,423 | +€7,423 | |
| Amounts payable within one year | 42/48 | €43,531 | €149,418 | +€105,886 | +243% |
| Current portion of amounts payable after more than one year | 42 | - | €14,016 | +€14,016 | |
| Trade debts | 44 | €3,440 | €2,258 | -€1,182 | -34.4% |
| Suppliers | 440/4 | €3,440 | €2,258 | -€1,182 | -34.4% |
| Taxes, remuneration and social security | 45 | €220 | €177 | -€43 | -19.6% |
| Taxes | 450/3 | €220 | €177 | -€43 | -19.6% |
| Other amounts payable | 47/48 | €39,871 | €132,967 | +€93,096 | +233% |
| Remuneration, social security and pensions | 62 | - | €669 | +€669 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,739 | €24,690 | +€19,951 | +421% |
| Other operating charges | 640/8 | €784 | €761 | -€23 | -2.9% |
| Gross operating margin | 9900 | €34,187 | -€20,148 | -€54,335 | |
| Operating profit (loss) | 9901 | €28,664 | -€46,268 | -€74,932 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €234 | €1,398 | +€1,164 | +498% |
| Recurring financial charges | 65 | €234 | €1,398 | +€1,164 | +498% |
| Profit (loss) for the period before taxes | 9903 | €28,430 | -€47,666 | -€76,096 | |
| Income taxes | 67/77 | €220 | €160 | -€60 | -27.3% |
| Profit (loss) for the period | 9904 | €28,209 | -€47,827 | -€76,036 | |
| Profit (loss) for the period to be appropriated | 9905 | €28,209 | -€47,827 | -€76,036 |
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 19 October 2026 via checked.be.