DMD Horizon: 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.
DMD Horizon
Largest movements
- Tangible fixed assets -€34,804
down €34,804 (-10.6%), from €328,920 to €294,116
of which Land and buildings: -€24,627
- Receivables within one year +€29,865
up €29,865 (+366%), from €8,162 to €38,028
of which Trade receivables: +€29,865
- Cash -€25,647
down €25,647 (-49.0%), from €52,336 to €26,689
mainly Receivables within one year (-€29,865) and Debts after one year (-€18,642)
- Debts after one year -€18,642
down €18,642 (-6.8%), from €274,207 to €255,565
- Profit (loss) carried forward -€8,493
down €8,493 (-13.8%), from €61,584 to €53,091
- Tax, wage and social debts -€8,049
down €8,049 (-69.5%), from €11,574 to €3,525
of which Taxes: -€6,472
- Gross operating margin -€21,037
down €21,037 (-35.5%), from €59,318 to €38,281
- Taxes -€3,083
down €3,083 (-92.6%), from €3,328 to €245
- Depreciation +€1,334
up €1,334 (+4.0%), from €33,470 to €34,804
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 | €392,090 | €360,109 | -€31,981 | -8.2% |
| Fixed assets | 21/28 | €328,920 | €294,116 | -€34,804 | -10.6% |
| Tangible fixed assets | 22/27 | €328,920 | €294,116 | -€34,804 | -10.6% |
| Land and buildings | 22 | €309,577 | €284,950 | -€24,627 | -8.0% |
| Furniture and vehicles | 24 | €19,343 | €9,166 | -€10,177 | -52.6% |
| Current assets | 29/58 | €63,170 | €65,993 | +€2,823 | +4.5% |
| Amounts receivable within one year | 40/41 | €8,162 | €38,028 | +€29,865 | +366% |
| Trade receivables | 40 | €8,162 | €38,028 | +€29,865 | +366% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €52,336 | €26,689 | -€25,647 | -49.0% |
| Deferred charges and accrued income | 490/1 | €2,672 | €1,276 | -€1,396 | -52.2% |
| Total equity and liabilities | 10/49 | €392,090 | €360,109 | -€31,981 | -8.2% |
| Equity | 10/15 | €69,644 | €61,151 | -€8,493 | -12.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €61,584 | €53,091 | -€8,493 | -13.8% |
| Amounts payable | 17/49 | €322,446 | €298,958 | -€23,488 | -7.3% |
| Amounts payable after more than one year | 17 | €274,207 | €255,565 | -€18,642 | -6.8% |
| Financial debts | 170/4 | €274,207 | €255,565 | -€18,642 | -6.8% |
| Amounts payable within one year | 42/48 | €48,239 | €39,762 | -€8,477 | -17.6% |
| Current portion of amounts payable after more than one year | 42 | €19,525 | €20,018 | +€493 | +2.5% |
| Trade debts | 44 | €305 | €1,666 | +€1,361 | +446% |
| Suppliers | 440/4 | €305 | €1,666 | +€1,361 | +446% |
| Taxes, remuneration and social security | 45 | €11,574 | €3,525 | -€8,049 | -69.5% |
| Taxes | 450/3 | €8,997 | €2,525 | -€6,472 | -71.9% |
| Remuneration and social security | 454/9 | €2,577 | €1,000 | -€1,577 | -61.2% |
| Other amounts payable | 47/48 | €16,835 | €14,553 | -€2,282 | -13.6% |
| Accrued charges and deferred income | 492/3 | - | €3,631 | +€3,631 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,470 | €34,804 | +€1,334 | +4.0% |
| Other operating charges | 640/8 | €4,540 | €4,480 | -€60 | -1.3% |
| Gross operating margin | 9900 | €59,318 | €38,281 | -€21,037 | -35.5% |
| Operating profit (loss) | 9901 | €21,308 | -€1,003 | -€22,311 | |
| Financial income | 75/76B | - | €7 | +€7 | |
| Recurring financial income | 75 | - | €7 | +€7 | |
| Financial charges | 65/66B | €7,817 | €7,253 | -€564 | -7.2% |
| Recurring financial charges | 65 | €7,817 | €7,253 | -€564 | -7.2% |
| Profit (loss) for the period before taxes | 9903 | €13,492 | -€8,248 | -€21,740 | |
| Income taxes | 67/77 | €3,328 | €245 | -€3,083 | -92.6% |
| Profit (loss) for the period | 9904 | €10,164 | -€8,493 | -€18,657 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,164 | -€8,493 | -€18,657 |
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 18 October 2026 via checked.be.