DM3: 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.
DM3
Largest movements
- Tangible fixed assets -€339,100
down €339,100 (-35.1%), from €964,912 to €625,812
of which Land and buildings: -€332,282
- Receivables within one year +€202,088
up €202,088 (+80.5%), from €250,981 to €453,069
of which Trade receivables: +€174,912
- Cash +€49,797
up €49,797 (+636%), from €7,825 to €57,621
mainly Investment in fixed assets (net) (+€302,386) and Net result for the year (+€79,646)
- Debts after one year -€205,740
down €205,740 (-16.1%), from €1.3m to €1.1m
- Profit (loss) carried forward +€79,646
up €79,646 (+29.2%), from €272,760 to €352,406
- Other debts -€31,159
down €31,159 (-94.1%), from €33,115 to €1,956
- Tax, wage and social debts +€22,884
up €22,884 (+135%), from €16,964 to €39,848
of which Taxes: +€21,229
- Trade debts +€19,067
up €19,067 (+11.1%), from €171,838 to €190,906
- Staff costs +€33,204
up €33,204 (+106%), from €31,322 to €64,526
- Depreciation -€12,916
down €12,916 (-26.0%), from €49,630 to €36,714
- Gross operating margin +€11,912
up €11,912 (+5.0%), from €236,816 to €248,728
- Other operating charges -€10,773
down €10,773 (-60.7%), from €17,748 to €6,975
- Financial charges -€9,780
down €9,780 (-20.8%), from €46,995 to €37,215
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 | €1,829,351 | €1,723,848 | -€105,503 | -5.8% |
| Fixed assets | 21/28 | €1,252,784 | €913,684 | -€339,100 | -27.1% |
| Tangible fixed assets | 22/27 | €964,912 | €625,812 | -€339,100 | -35.1% |
| Land and buildings | 22 | €839,973 | €507,691 | -€332,282 | -39.6% |
| Plant, machinery and equipment | 23 | €5,909 | €5,101 | -€808 | -13.7% |
| Furniture and vehicles | 24 | €6,628 | €5,780 | -€848 | -12.8% |
| Leasing and similar rights | 25 | €112,402 | €107,241 | -€5,162 | -4.6% |
| Financial fixed assets | 28 | €287,872 | €287,872 | = | 0.0% |
| Current assets | 29/58 | €576,568 | €810,164 | +€233,597 | +40.5% |
| Stocks and contracts in progress | 3 | €297,195 | €284,790 | -€12,406 | -4.2% |
| Stocks | 30/36 | €297,195 | €284,790 | -€12,406 | -4.2% |
| Amounts receivable within one year | 40/41 | €250,981 | €453,069 | +€202,088 | +80.5% |
| Trade receivables | 40 | €194,052 | €368,963 | +€174,912 | +90.1% |
| Other amounts receivable | 41 | €56,929 | €84,106 | +€27,176 | +47.7% |
| Cash at bank and in hand | 54/58 | €7,825 | €57,621 | +€49,797 | +636% |
| Deferred charges and accrued income | 490/1 | €20,567 | €14,684 | -€5,882 | -28.6% |
| Total equity and liabilities | 10/49 | €1,829,351 | €1,723,848 | -€105,503 | -5.8% |
| Equity | 10/15 | €274,760 | €354,406 | +€79,646 | +29.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €272,760 | €352,406 | +€79,646 | +29.2% |
| Amounts payable | 17/49 | €1,554,592 | €1,369,442 | -€185,150 | -11.9% |
| Amounts payable after more than one year | 17 | €1,280,264 | €1,074,524 | -€205,740 | -16.1% |
| Financial debts | 170/4 | €1,280,264 | €1,074,524 | -€205,740 | -16.1% |
| Amounts payable within one year | 42/48 | €274,328 | €294,918 | +€20,590 | +7.5% |
| Current portion of amounts payable after more than one year | 42 | €52,411 | €62,209 | +€9,798 | +18.7% |
| Trade debts | 44 | €171,838 | €190,906 | +€19,067 | +11.1% |
| Suppliers | 440/4 | €171,838 | €190,906 | +€19,067 | +11.1% |
| Taxes, remuneration and social security | 45 | €16,964 | €39,848 | +€22,884 | +135% |
| Taxes | 450/3 | €10,677 | €31,906 | +€21,229 | +199% |
| Remuneration and social security | 454/9 | €6,287 | €7,942 | +€1,655 | +26.3% |
| Other amounts payable | 47/48 | €33,115 | €1,956 | -€31,159 | -94.1% |
| Non-recurring operating income | 76A | - | €1,941 | +€1,941 | |
| Remuneration, social security and pensions | 62 | €31,322 | €64,526 | +€33,204 | +106% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,630 | €36,714 | -€12,916 | -26.0% |
| Other operating charges | 640/8 | €17,748 | €6,975 | -€10,773 | -60.7% |
| Gross operating margin | 9900 | €236,816 | €248,728 | +€11,912 | +5.0% |
| Operating profit (loss) | 9901 | €138,116 | €140,513 | +€2,397 | +1.7% |
| Financial income | 75/76B | €983 | €2 | -€981 | -99.8% |
| Recurring financial income | 75 | €983 | €2 | -€981 | -99.8% |
| Financial charges | 65/66B | €46,995 | €37,215 | -€9,780 | -20.8% |
| Recurring financial charges | 65 | €46,995 | €37,215 | -€9,780 | -20.8% |
| Profit (loss) for the period before taxes | 9903 | €92,104 | €103,300 | +€11,196 | +12.2% |
| Income taxes | 67/77 | €21,572 | €23,654 | +€2,082 | +9.7% |
| Profit (loss) for the period | 9904 | €70,532 | €79,646 | +€9,114 | +12.9% |
| Profit (loss) for the period to be appropriated | 9905 | €70,532 | €79,646 | +€9,114 | +12.9% |
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 24 October 2026 via checked.be.