Dm.P: 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.P
Largest movements
- Cash +€860,015
up €860,015 (+16,287%), from €5,281 to €865,295
mainly Net result for the year (+€480,209) and Current investments (+€312,904)
- Current investments -€312,904
down €312,904 (-23.8%), from €1.3m to €1.0m
- Tangible fixed assets -€45,571
down €45,571 (-5.5%), from €823,948 to €778,377
of which Land and buildings: -€46,162
- Reserves +€478,543
up €478,543 (+26.6%), from €1.8m to €2.3m
of which Distributable reserves: +€478,543
- Tax, wage and social debts +€57,010
up €57,010 (+112%), from €51,120 to €108,130
of which Taxes: +€57,010
- Debts after one year -€46,743
down €46,743 (-24.3%), from €192,672 to €145,929
- Gross operating margin +€239,451
up €239,451 (+49.1%), from €488,101 to €727,552
- Taxes +€81,284
up €81,284 (+58.6%), from €138,698 to €219,982
- Financial income +€17,041
up €17,041 (+83.5%), from €20,403 to €37,444
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 | €2,183,388 | €2,664,761 | +€481,372 | +22.0% |
| Fixed assets | 21/28 | €823,948 | €778,377 | -€45,571 | -5.5% |
| Tangible fixed assets | 22/27 | €823,948 | €778,377 | -€45,571 | -5.5% |
| Land and buildings | 22 | €821,383 | €775,220 | -€46,162 | -5.6% |
| Furniture and vehicles | 24 | €2,185 | €2,840 | +€654 | +29.9% |
| Other tangible fixed assets | 26 | €380 | €316 | -€63 | -16.7% |
| Current assets | 29/58 | €1,359,441 | €1,886,384 | +€526,943 | +38.8% |
| Amounts receivable within one year | 40/41 | €39,898 | €19,708 | -€20,190 | -50.6% |
| Trade receivables | 40 | €22,985 | €19,612 | -€3,374 | -14.7% |
| Other amounts receivable | 41 | €16,912 | €96 | -€16,816 | -99.4% |
| Current investments | 50/53 | €1,312,904 | €1,000,000 | -€312,904 | -23.8% |
| Cash at bank and in hand | 54/58 | €5,281 | €865,295 | +€860,015 | +16,287% |
| Deferred charges and accrued income | 490/1 | €1,359 | €1,381 | +€22 | +1.6% |
| Total equity and liabilities | 10/49 | €2,183,388 | €2,664,761 | +€481,372 | +22.0% |
| Equity | 10/15 | €1,813,126 | €2,291,669 | +€478,543 | +26.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,800,726 | €2,279,269 | +€478,543 | +26.6% |
| Tax-exempt reserves | 132 | €23,866 | €23,866 | = | 0.0% |
| Distributable reserves | 133 | €1,776,860 | €2,255,403 | +€478,543 | +26.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €64,787 | €64,787 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €64,787 | €64,787 | = | 0.0% |
| Major repairs and maintenance | 162 | €64,787 | €64,787 | = | 0.0% |
| Amounts payable | 17/49 | €305,476 | €308,305 | +€2,829 | +0.9% |
| Amounts payable after more than one year | 17 | €192,672 | €145,929 | -€46,743 | -24.3% |
| Financial debts | 170/4 | €192,672 | €145,929 | -€46,743 | -24.3% |
| Amounts payable within one year | 42/48 | €112,803 | €162,376 | +€49,572 | +43.9% |
| Current portion of amounts payable after more than one year | 42 | €45,824 | €46,743 | +€919 | +2.0% |
| Trade debts | 44 | €3,543 | €466 | -€3,077 | -86.9% |
| Suppliers | 440/4 | €3,543 | €466 | -€3,077 | -86.9% |
| Taxes, remuneration and social security | 45 | €51,120 | €108,130 | +€57,010 | +112% |
| Taxes | 450/3 | €45,691 | €102,701 | +€57,010 | +125% |
| Remuneration and social security | 454/9 | €5,429 | €5,429 | = | 0.0% |
| Other amounts payable | 47/48 | €12,317 | €7,037 | -€5,279 | -42.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,206 | €47,622 | +€416 | +0.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €12,029 | €12,437 | +€408 | +3.4% |
| Gross operating margin | 9900 | €488,101 | €727,552 | +€239,451 | +49.1% |
| Operating profit (loss) | 9901 | €428,865 | €667,493 | +€238,628 | +55.6% |
| Financial income | 75/76B | €20,403 | €37,444 | +€17,041 | +83.5% |
| Recurring financial income | 75 | €20,403 | €37,444 | +€17,041 | +83.5% |
| Financial charges | 65/66B | €5,629 | €4,746 | -€883 | -15.7% |
| Recurring financial charges | 65 | €5,629 | €4,746 | -€883 | -15.7% |
| Profit (loss) for the period before taxes | 9903 | €443,639 | €700,191 | +€256,552 | +57.8% |
| Income taxes | 67/77 | €138,698 | €219,982 | +€81,284 | +58.6% |
| Profit (loss) for the period | 9904 | €304,941 | €480,209 | +€175,268 | +57.5% |
| Profit (loss) for the period to be appropriated | 9905 | €304,941 | €480,209 | +€175,268 | +57.5% |
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 16 October 2026 via checked.be.