DMJ: 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.
DMJ
Largest movements
- Financial fixed assets +€1.5m
up €1.5m (+465%), from €311,880 to €1.8m
- Debts after one year +€1.6m
new in 2025: €1.6m
- Short-term financial debts -€231,280
down €231,280 (-100%), from €231,280 to €0
- Reserves +€61,335
up €61,335 (+67.0%), from €91,487 to €152,823
- Current portion of long-term debt +€55,200
new in 2025: €55,200
- Other debts -€18,761
down €18,761 (-87.8%), from €21,363 to €2,602
- Financial income +€18,744
up €18,744, from €0 to €18,744
- Gross operating margin +€12,672
up €12,672 (+20.0%), from €63,395 to €76,067
- Taxes +€7,111
up €7,111 (+39.0%), from €18,231 to €25,342
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 | €383,414 | €1,839,440 | +€1.5m | +380% |
| Fixed assets | 21/28 | €328,902 | €1,772,921 | +€1.4m | +439% |
| Tangible fixed assets | 22/27 | €17,022 | €9,995 | -€7,028 | -41.3% |
| Furniture and vehicles | 24 | €17,022 | €9,995 | -€7,028 | -41.3% |
| Financial fixed assets | 28 | €311,880 | €1,762,926 | +€1.5m | +465% |
| Current assets | 29/58 | €54,512 | €66,519 | +€12,007 | +22.0% |
| Amounts receivable within one year | 40/41 | €15,338 | €18,888 | +€3,550 | +23.1% |
| Trade receivables | 40 | €15,338 | €18,888 | +€3,550 | +23.1% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €38,544 | €46,986 | +€8,442 | +21.9% |
| Deferred charges and accrued income | 490/1 | €630 | €645 | +€15 | +2.5% |
| Total equity and liabilities | 10/49 | €383,414 | €1,839,440 | +€1.5m | +380% |
| Equity | 10/15 | €94,487 | €155,823 | +€61,335 | +64.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €91,487 | €152,823 | +€61,335 | +67.0% |
| Distributable reserves | 133 | €91,487 | €152,823 | +€61,335 | +67.0% |
| Amounts payable | 17/49 | €288,927 | €1,683,617 | +€1.4m | +483% |
| Amounts payable after more than one year | 17 | - | €1,589,926 | +€1.6m | |
| Financial debts | 170/4 | - | €1,589,926 | +€1.6m | |
| Amounts payable within one year | 42/48 | €288,927 | €93,691 | -€195,236 | -67.6% |
| Current portion of amounts payable after more than one year | 42 | - | €55,200 | +€55,200 | |
| Financial debts | 43 | €231,280 | €0 | -€231,280 | -100% |
| Other loans | 439 | €231,280 | €0 | -€231,280 | -100% |
| Trade debts | 44 | €16,846 | €5,244 | -€11,601 | -68.9% |
| Suppliers | 440/4 | €16,846 | €5,244 | -€11,601 | -68.9% |
| Taxes, remuneration and social security | 45 | €19,439 | €30,645 | +€11,206 | +57.7% |
| Taxes | 450/3 | €19,439 | €18,465 | -€973 | -5.0% |
| Remuneration and social security | 454/9 | €0 | €12,180 | +€12,180 | |
| Other amounts payable | 47/48 | €21,363 | €2,602 | -€18,761 | -87.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,028 | €7,028 | = | 0.0% |
| Other operating charges | 640/8 | €314 | €952 | +€637 | +203% |
| Gross operating margin | 9900 | €63,395 | €76,067 | +€12,672 | +20.0% |
| Operating profit (loss) | 9901 | €56,052 | €68,087 | +€12,035 | +21.5% |
| Financial income | 75/76B | €0 | €18,744 | +€18,744 | |
| Recurring financial income | 75 | €0 | €18,744 | +€18,744 | |
| Financial charges | 65/66B | €123 | €154 | +€31 | +25.5% |
| Recurring financial charges | 65 | €123 | €154 | +€31 | +25.5% |
| Profit (loss) for the period before taxes | 9903 | €55,929 | €86,677 | +€30,748 | +55.0% |
| Income taxes | 67/77 | €18,231 | €25,342 | +€7,111 | +39.0% |
| Profit (loss) for the period | 9904 | €37,698 | €61,335 | +€23,637 | +62.7% |
| Profit (loss) for the period to be appropriated | 9905 | €37,698 | €61,335 | +€23,637 | +62.7% |
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 24 October 2026 via checked.be.