DM ADVICE: 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 ADVICE
Largest movements
- Tangible fixed assets -€344,997
down €344,997 (-99.8%), from €345,789 to €792
of which Land and buildings: -€335,476
- Receivables after one year +€230,000
new in 2025: €230,000
- Cash +€154,849
up €154,849 (+662.7%), from €23,366 to €178,215
mainly Investment in fixed assets (net) (+€343,396) and Net result for the year (+€45,647)
- Receivables within one year -€11,572
down €11,572 (-35.0%), from €33,078 to €21,506
of which Trade receivables: -€9,754
- Deferred charges and accrued income -€7,743
down €7,743 (-10.8%), from €71,640 to €63,897
- Reserves +€45,647
up €45,647 (+48.1%), from €94,826 to €140,473
- Debts after one year -€18,098
down €18,098 (-7.9%), from €227,849 to €209,750
- Other debts -€13,823
down €13,823 (-18.6%), from €74,441 to €60,618
- Tax, wage and social debts +€5,785
up €5,785 (+65.5%), from €8,832 to €14,618
- Gross operating margin +€37,816
up €37,816 (+90.8%), from €41,625 to €79,441
- Depreciation -€19,319
down €19,319 (-92.3%), from €20,920 to €1,601
- Taxes +€14,123
up €14,123 (+299.3%), from €4,718 to €18,841
- Financial charges +€6,438
up €6,438 (+127.5%), from €5,050 to €11,488
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 | €476,272 | €502,760 | +€26,488 | +5.6% |
| Fixed assets | 21/28 | €347,189 | €2,192 | -€344,997 | -99.4% |
| Tangible fixed assets | 22/27 | €345,789 | €792 | -€344,997 | -99.8% |
| Land and buildings | 22 | €335,476 | €0 | -€335,476 | -100.0% |
| Plant, machinery and equipment | 23 | €722 | €508 | -€214 | -29.6% |
| Furniture and vehicles | 24 | €9,590 | €284 | -€9,307 | -97.0% |
| Financial fixed assets | 28 | €1,400 | €1,400 | = | 0.0% |
| Current assets | 29/58 | €129,084 | €500,568 | +€371,484 | +287.8% |
| Amounts receivable after more than one year | 29 | - | €230,000 | +€230,000 | |
| Trade receivables | 290 | - | €230,000 | +€230,000 | |
| Stocks and contracts in progress | 3 | €999 | €6,949 | +€5,950 | +595.6% |
| Stocks | 30/36 | €999 | €6,949 | +€5,950 | +595.6% |
| Amounts receivable within one year | 40/41 | €33,078 | €21,506 | -€11,572 | -35.0% |
| Trade receivables | 40 | €30,654 | €20,900 | -€9,754 | -31.8% |
| Other amounts receivable | 41 | €2,424 | €606 | -€1,818 | -75.0% |
| Cash at bank and in hand | 54/58 | €23,366 | €178,215 | +€154,849 | +662.7% |
| Deferred charges and accrued income | 490/1 | €71,640 | €63,897 | -€7,743 | -10.8% |
| Total equity and liabilities | 10/49 | €476,272 | €502,760 | +€26,488 | +5.6% |
| Equity | 10/15 | €139,017 | €184,665 | +€45,647 | +32.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €94,826 | €140,473 | +€45,647 | +48.1% |
| Distributable reserves | 133 | €94,826 | €140,473 | +€45,647 | +48.1% |
| Profit (loss) carried forward | 14 | €25,592 | €25,592 | = | 0.0% |
| Amounts payable | 17/49 | €337,255 | €318,096 | -€19,159 | -5.7% |
| Amounts payable after more than one year | 17 | €227,849 | €209,750 | -€18,098 | -7.9% |
| Financial debts | 170/4 | €227,849 | €209,750 | -€18,098 | -7.9% |
| Amounts payable within one year | 42/48 | €109,406 | €103,326 | -€6,081 | -5.6% |
| Current portion of amounts payable after more than one year | 42 | €17,768 | €18,098 | +€331 | +1.9% |
| Financial debts | 43 | €739 | €645 | -€94 | -12.7% |
| Credit institutions | 430/8 | €739 | €645 | -€94 | -12.7% |
| Trade debts | 44 | €7,626 | €9,347 | +€1,721 | +22.6% |
| Suppliers | 440/4 | €7,626 | €9,347 | +€1,721 | +22.6% |
| Taxes, remuneration and social security | 45 | €8,832 | €14,618 | +€5,785 | +65.5% |
| Taxes | 450/3 | €8,832 | €14,618 | +€5,785 | +65.5% |
| Other amounts payable | 47/48 | €74,441 | €60,618 | -€13,823 | -18.6% |
| Accrued charges and deferred income | 492/3 | - | €5,020 | +€5,020 | |
| Non-recurring operating income | 76A | - | €49,920 | +€49,920 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,920 | €1,601 | -€19,319 | -92.3% |
| Other operating charges | 640/8 | €2,299 | €1,956 | -€343 | -14.9% |
| Gross operating margin | 9900 | €41,625 | €79,441 | +€37,816 | +90.8% |
| Operating profit (loss) | 9901 | €18,406 | €75,884 | +€57,478 | +312.3% |
| Financial income | 75/76B | €328 | €92 | -€236 | -71.9% |
| Recurring financial income | 75 | €328 | €92 | -€236 | -71.9% |
| Financial charges | 65/66B | €5,050 | €11,488 | +€6,438 | +127.5% |
| Recurring financial charges | 65 | €5,050 | €11,488 | +€6,438 | +127.5% |
| Profit (loss) for the period before taxes | 9903 | €13,684 | €64,488 | +€50,804 | +371.3% |
| Income taxes | 67/77 | €4,718 | €18,841 | +€14,123 | +299.3% |
| Profit (loss) for the period | 9904 | €8,966 | €45,647 | +€36,682 | +409.1% |
| Profit (loss) for the period to be appropriated | 9905 | €8,966 | €45,647 | +€36,682 | +409.1% |
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 12 October 2026 via checked.be.