DMA: what changed
Two fiscal 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.
DMA
Largest movements
- Tangible fixed assets -€70,986
down €70,986 (-3.5%), from €2.0m to €1.9m
of which Land and buildings: -€70,360
- Other debts +€283,196
up €283,196 (+39.4%), from €718,125 to €1.0m
- Debts after one year -€232,291
down €232,291 (-16.3%), from €1.4m to €1.2m
of which Financial debts: -€229,796
- Current portion of long-term debt -€88,136
down €88,136 (-46.3%), from €190,401 to €102,265
- Profit (loss) carried forward -€26,636
down €26,636 (-4.6%), from -€573,644 to -€600,280
- Gross operating margin -€18,679
down €18,679 (-13.0%), from €143,550 to €124,871
- Other operating charges -€6,885
down €6,885 (-40.8%), from €16,878 to €9,993
- Taxes -€4,021
down €4,021 (-52.3%), from €7,683 to €3,662
- Financial charges +€2,842
up €2,842 (+6.7%), from €42,217 to €45,060
- Staff costs -€1,506
down €1,506 (-6.1%), from €24,782 to €23,277
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 | €2,194,523 | €2,121,129 | -€73,394 | -3.3% |
| Fixed assets | 21/28 | €2,187,462 | €2,116,477 | -€70,986 | -3.2% |
| Intangible fixed assets | 21 | €166,666 | €166,666 | = | 0.0% |
| Tangible fixed assets | 22/27 | €2,020,796 | €1,949,811 | -€70,986 | -3.5% |
| Land and buildings | 22 | €2,018,339 | €1,947,979 | -€70,360 | -3.5% |
| Furniture and vehicles | 24 | €2,457 | €1,832 | -€625 | -25.5% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €7,061 | €4,652 | -€2,409 | -34.1% |
| Amounts receivable within one year | 40/41 | €36 | €0 | -€36 | -100.0% |
| Other amounts receivable | 41 | €36 | €0 | -€36 | -100.0% |
| Cash at bank and in hand | 54/58 | €4,592 | €2,219 | -€2,373 | -51.7% |
| Deferred charges and accrued income | 490/1 | €2,433 | €2,433 | = | 0.0% |
| Total equity and liabilities | 10/49 | €2,194,523 | €2,121,129 | -€73,394 | -3.3% |
| Equity | 10/15 | -€215,014 | -€248,763 | -€33,750 | -15.7% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Revaluation surpluses | 12 | €75,825 | €75,825 | = | 0.0% |
| Reserves | 13 | €132,805 | €125,691 | -€7,114 | -5.4% |
| Tax-exempt reserves | 132 | €123,127 | €116,014 | -€7,114 | -5.8% |
| Distributable reserves | 133 | €9,678 | €9,678 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€573,644 | -€600,280 | -€26,636 | -4.6% |
| Provisions and deferred taxes | 16 | €65,117 | €62,746 | -€2,371 | -3.6% |
| Deferred taxes | 168 | €65,117 | €62,746 | -€2,371 | -3.6% |
| Amounts payable | 17/49 | €2,344,420 | €2,307,146 | -€37,273 | -1.6% |
| Amounts payable after more than one year | 17 | €1,422,332 | €1,190,042 | -€232,291 | -16.3% |
| Financial debts | 170/4 | €1,416,697 | €1,186,902 | -€229,796 | -16.2% |
| Other amounts payable | 178/9 | €5,635 | €3,140 | -€2,495 | -44.3% |
| Amounts payable within one year | 42/48 | €922,087 | €1,117,105 | +€195,017 | +21.1% |
| Current portion of amounts payable after more than one year | 42 | €190,401 | €102,265 | -€88,136 | -46.3% |
| Trade debts | 44 | €13,561 | €13,519 | -€43 | -0.3% |
| Suppliers | 440/4 | €13,561 | €13,519 | -€43 | -0.3% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €718,125 | €1,001,321 | +€283,196 | +39.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €4,676 | €5,986 | +€1,310 | +28.0% |
| Remuneration, social security and pensions | 62 | €24,782 | €23,277 | -€1,506 | -6.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,692 | €79,024 | +€332 | +0.4% |
| Other operating charges | 640/8 | €16,878 | €9,993 | -€6,885 | -40.8% |
| Gross operating margin | 9900 | €143,550 | €124,871 | -€18,679 | -13.0% |
| Operating profit (loss) | 9901 | €23,197 | €12,576 | -€10,621 | -45.8% |
| Financial income | 75/76B | - | €24 | +€24 | |
| Recurring financial income | 75 | - | €24 | +€24 | |
| Financial charges | 65/66B | €42,217 | €45,060 | +€2,842 | +6.7% |
| Recurring financial charges | 65 | €42,217 | €45,060 | +€2,842 | +6.7% |
| Profit (loss) for the period before taxes | 9903 | -€19,020 | -€32,460 | -€13,440 | -70.7% |
| Transfer from deferred taxes | 780 | €0 | €2,371 | +€2,371 | |
| Income taxes | 67/77 | €7,683 | €3,662 | -€4,021 | -52.3% |
| Profit (loss) for the period | 9904 | -€26,703 | -€33,750 | -€7,047 | -26.4% |
| Transfer from tax-exempt reserves | 789 | €0 | €7,114 | +€7,114 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,703 | -€26,636 | +€67 | +0.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.