DM4L: 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.
DM4L
Largest movements
- Cash -€39,592
down €39,592 (-68.3%), from €57,933 to €18,341
mainly Investment in fixed assets (net) (-€37,633) and Other debts (-€25,658)
- Stocks and contracts +€5,481
up €5,481 (+61.4%), from €8,925 to €14,406
- Tangible fixed assets +€4,091
up €4,091 (+1.7%), from €246,499 to €250,591
of which Furniture and vehicles: +€24,257
- Other debts -€25,658
down €25,658 (-43.2%), from €59,399 to €33,741
- Current portion of long-term debt +€5,557
up €5,557 (+46.2%), from €12,023 to €17,580
- Accrued charges and deferred income -€4,712
down €4,712 (-100.0%), from €4,712 to €0
- Reserves -€3,569
down €3,569 (-7.7%), from €46,085 to €42,516
- Provisions -€21,600
down €21,600 (-100.0%), from €21,600 to €0
- Gross operating margin -€20,101
down €20,101 (-33.9%), from €59,231 to €39,130
- Financial charges -€7,082
down €7,082 (-51.0%), from €13,893 to €6,812
- Depreciation +€4,731
up €4,731 (+16.4%), from €28,810 to €33,542
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 | €316,593 | €285,851 | -€30,741 | -9.7% |
| Fixed assets | 21/28 | €246,499 | €250,591 | +€4,091 | +1.7% |
| Tangible fixed assets | 22/27 | €246,499 | €250,591 | +€4,091 | +1.7% |
| Land and buildings | 22 | €39,653 | €35,571 | -€4,082 | -10.3% |
| Plant, machinery and equipment | 23 | €27,688 | €24,341 | -€3,347 | -12.1% |
| Furniture and vehicles | 24 | €16,238 | €40,495 | +€24,257 | +149.4% |
| Leasing and similar rights | 25 | €162,920 | €150,184 | -€12,736 | -7.8% |
| Current assets | 29/58 | €70,093 | €35,261 | -€34,833 | -49.7% |
| Stocks and contracts in progress | 3 | €8,925 | €14,406 | +€5,481 | +61.4% |
| Stocks | 30/36 | €8,925 | €14,406 | +€5,481 | +61.4% |
| Amounts receivable within one year | 40/41 | €3,078 | €2,102 | -€976 | -31.7% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €3,078 | €2,102 | -€976 | -31.7% |
| Cash at bank and in hand | 54/58 | €57,933 | €18,341 | -€39,592 | -68.3% |
| Deferred charges and accrued income | 490/1 | €158 | €412 | +€254 | +160.2% |
| Total equity and liabilities | 10/49 | €316,593 | €285,851 | -€30,741 | -9.7% |
| Equity | 10/15 | €65,588 | €62,019 | -€3,569 | -5.4% |
| Contributions | 10/11 | €19,503 | €19,503 | = | 0.0% |
| Reserves | 13 | €46,085 | €42,516 | -€3,569 | -7.7% |
| Distributable reserves | 133 | €46,085 | €42,516 | -€3,569 | -7.7% |
| Provisions and deferred taxes | 16 | €21,600 | €21,600 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €21,600 | €21,600 | = | 0.0% |
| Major repairs and maintenance | 162 | €21,600 | €21,600 | = | 0.0% |
| Amounts payable | 17/49 | €229,405 | €202,232 | -€27,173 | -11.8% |
| Amounts payable after more than one year | 17 | €147,278 | €144,435 | -€2,842 | -1.9% |
| Financial debts | 170/4 | €147,278 | €144,435 | -€2,842 | -1.9% |
| Amounts payable within one year | 42/48 | €77,415 | €57,797 | -€19,618 | -25.3% |
| Current portion of amounts payable after more than one year | 42 | €12,023 | €17,580 | +€5,557 | +46.2% |
| Trade debts | 44 | €3,714 | €3,880 | +€166 | +4.5% |
| Suppliers | 440/4 | €3,714 | €3,880 | +€166 | +4.5% |
| Taxes, remuneration and social security | 45 | €2,279 | €2,595 | +€316 | +13.9% |
| Taxes | 450/3 | €2,279 | €2,595 | +€316 | +13.9% |
| Other amounts payable | 47/48 | €59,399 | €33,741 | -€25,658 | -43.2% |
| Accrued charges and deferred income | 492/3 | €4,712 | €0 | -€4,712 | -100.0% |
| Non-recurring operating income | 76A | €6,299 | €0 | -€6,299 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,810 | €33,542 | +€4,731 | +16.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €21,600 | €0 | -€21,600 | -100.0% |
| Other operating charges | 640/8 | €2,210 | €2,652 | +€442 | +20.0% |
| Gross operating margin | 9900 | €59,231 | €39,130 | -€20,101 | -33.9% |
| Operating profit (loss) | 9901 | €6,611 | €2,937 | -€3,675 | -55.6% |
| Financial income | 75/76B | €117 | €306 | +€189 | +161.2% |
| Recurring financial income | 75 | €117 | €306 | +€189 | +161.2% |
| Financial charges | 65/66B | €13,893 | €6,812 | -€7,082 | -51.0% |
| Recurring financial charges | 65 | €13,893 | €6,812 | -€7,082 | -51.0% |
| Profit (loss) for the period before taxes | 9903 | -€7,165 | -€3,569 | +€3,596 | +50.2% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€7,165 | -€3,569 | +€3,596 | +50.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,165 | -€3,569 | +€3,596 | +50.2% |
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.