DM-POWER: 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-POWER
Largest movements
- Receivables within one year -€1.0m
down €1.0m (-59.6%), from €1.7m to €680,041
of which Other amounts receivable: -€831,808
- Receivables after one year +€932,543
new in 2025: €932,543
- Cash -€153,380
down €153,380 (-50.9%), from €301,331 to €147,951
mainly Receivables after one year (-€932,543) and Short-term financial debts (-€339,124)
- Stocks and contracts +€64,733
up €64,733 (+6.8%), from €951,341 to €1.0m
- Short-term financial debts -€339,124
down €339,124 (-20.4%), from €1.7m to €1.3m
- Trade debts +€141,449
up €141,449 (+299%), from €47,362 to €188,811
- Gross operating margin -€52,526
down €52,526 (-6.8%), from €774,569 to €722,043
- Financial charges -€47,282
down €47,282 (-29.3%), from €161,589 to €114,307
- Other operating charges +€25,075
up €25,075 (+43.4%), from €57,740 to €82,815
- Financial income -€13,318
down €13,318 (-14.1%), from €94,485 to €81,167
- Taxes -€9,454
down €9,454 (-38.8%), from €24,354 to €14,900
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 | €3,025,393 | €2,844,837 | -€180,557 | -6.0% |
| Fixed assets | 21/28 | €72,151 | €47,078 | -€25,073 | -34.8% |
| Intangible fixed assets | 21 | €23,961 | €18,669 | -€5,292 | -22.1% |
| Tangible fixed assets | 22/27 | €30,190 | €28,409 | -€1,781 | -5.9% |
| Plant, machinery and equipment | 23 | €19,441 | €19,292 | -€149 | -0.8% |
| Furniture and vehicles | 24 | €10,749 | €9,117 | -€1,632 | -15.2% |
| Financial fixed assets | 28 | €18,000 | €0 | -€18,000 | -100% |
| Current assets | 29/58 | €2,953,243 | €2,797,759 | -€155,484 | -5.3% |
| Amounts receivable after more than one year | 29 | - | €932,543 | +€932,543 | |
| Other amounts receivable | 291 | - | €932,543 | +€932,543 | |
| Stocks and contracts in progress | 3 | €951,341 | €1,016,073 | +€64,733 | +6.8% |
| Stocks | 30/36 | €951,341 | €1,016,073 | +€64,733 | +6.8% |
| Amounts receivable within one year | 40/41 | €1,685,008 | €680,041 | -€1.0m | -59.6% |
| Trade receivables | 40 | €836,097 | €662,937 | -€173,159 | -20.7% |
| Other amounts receivable | 41 | €848,912 | €17,103 | -€831,808 | -98.0% |
| Cash at bank and in hand | 54/58 | €301,331 | €147,951 | -€153,380 | -50.9% |
| Deferred charges and accrued income | 490/1 | €15,563 | €21,151 | +€5,589 | +35.9% |
| Total equity and liabilities | 10/49 | €3,025,393 | €2,844,837 | -€180,557 | -6.0% |
| Equity | 10/15 | €1,199,088 | €1,202,989 | +€3,901 | +0.3% |
| Contributions | 10/11 | €76,420 | €76,420 | = | 0.0% |
| Capital | 10 | €76,394 | €76,394 | = | 0.0% |
| Issued capital | 100 | €76,394 | €76,394 | = | 0.0% |
| Contributions outside capital | 11 | €25 | €25 | = | 0.0% |
| Share premium | 1100/10 | €25 | €25 | = | 0.0% |
| Reserves | 13 | €1,122,668 | €1,126,569 | +€3,901 | +0.3% |
| Non-distributable reserves | 130/1 | €7,639 | €7,639 | = | 0.0% |
| Legal reserve | 130 | €7,639 | €7,639 | = | 0.0% |
| Distributable reserves | 133 | €1,115,029 | €1,118,930 | +€3,901 | +0.3% |
| Amounts payable | 17/49 | €1,826,305 | €1,641,848 | -€184,457 | -10.1% |
| Amounts payable after more than one year | 17 | €4,255 | €0 | -€4,255 | -100% |
| Financial debts | 170/4 | €4,255 | €0 | -€4,255 | -100% |
| Amounts payable within one year | 42/48 | €1,822,051 | €1,641,848 | -€180,203 | -9.9% |
| Current portion of amounts payable after more than one year | 42 | €4,871 | €4,255 | -€617 | -12.7% |
| Financial debts | 43 | €1,663,108 | €1,323,983 | -€339,124 | -20.4% |
| Credit institutions | 430/8 | €1,663,108 | €1,323,983 | -€339,124 | -20.4% |
| Trade debts | 44 | €47,362 | €188,811 | +€141,449 | +299% |
| Suppliers | 440/4 | €47,362 | €188,811 | +€141,449 | +299% |
| Taxes, remuneration and social security | 45 | €106,710 | €124,799 | +€18,089 | +17.0% |
| Taxes | 450/3 | €52,096 | €55,067 | +€2,971 | +5.7% |
| Remuneration and social security | 454/9 | €54,614 | €69,732 | +€15,118 | +27.7% |
| Remuneration, social security and pensions | 62 | €567,833 | €570,063 | +€2,229 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,785 | €17,226 | -€2,559 | -12.9% |
| Other operating charges | 640/8 | €57,740 | €82,815 | +€25,075 | +43.4% |
| Gross operating margin | 9900 | €774,569 | €722,043 | -€52,526 | -6.8% |
| Operating profit (loss) | 9901 | €129,211 | €51,940 | -€77,271 | -59.8% |
| Financial income | 75/76B | €94,485 | €81,167 | -€13,318 | -14.1% |
| Recurring financial income | 75 | €94,485 | €81,167 | -€13,318 | -14.1% |
| Financial charges | 65/66B | €161,589 | €114,307 | -€47,282 | -29.3% |
| Recurring financial charges | 65 | €161,589 | €114,307 | -€47,282 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | €62,108 | €18,801 | -€43,307 | -69.7% |
| Income taxes | 67/77 | €24,354 | €14,900 | -€9,454 | -38.8% |
| Profit (loss) for the period | 9904 | €37,753 | €3,901 | -€33,853 | -89.7% |
| Profit (loss) for the period to be appropriated | 9905 | €37,753 | €3,901 | -€33,853 | -89.7% |
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 23 October 2026 via checked.be.