DMU: 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.
DMU
Largest movements
- Stocks and contracts +€238,184
up €238,184 (+37.0%), from €644,217 to €882,401
- Cash +€92,799
up €92,799 (+84.5%), from €109,862 to €202,661
mainly Net result for the year (+€306,896) and Short-term financial debts (+€100,000)
- Tangible fixed assets -€54,835
down €54,835 (-8.1%), from €677,103 to €622,268
of which Land and buildings: -€34,276
- Receivables within one year +€20,810
up €20,810 (+18.5%), from €112,299 to €133,109
of which Trade receivables: +€53,770
- Reserves +€249,396
up €249,396 (+24.9%), from €1.0m to €1.3m
of which Distributable reserves: +€256,503
- Short-term financial debts +€100,000
new in 2026: €100,000
- Other debts -€62,359
down €62,359 (-65.9%), from €94,560 to €32,201
- Tax, wage and social debts -€45,454
down €45,454 (-64.3%), from €70,680 to €25,226
of which Taxes: -€47,882
- Debts after one year +€43,315
up €43,315 (+21.3%), from €203,151 to €246,466
- Gross operating margin +€47,529
up €47,529 (+11.2%), from €425,391 to €472,920
- Taxes -€15,074
down €15,074 (-12.9%), from €117,240 to €102,166
- Financial income -€8,695
down €8,695 (-98.7%), from €8,813 to €118
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,547,165 | €1,841,499 | +€294,334 | +19.0% |
| Fixed assets | 21/28 | €677,178 | €622,343 | -€54,835 | -8.1% |
| Tangible fixed assets | 22/27 | €677,103 | €622,268 | -€54,835 | -8.1% |
| Land and buildings | 22 | €631,826 | €597,550 | -€34,276 | -5.4% |
| Plant, machinery and equipment | 23 | €7,629 | €4,397 | -€3,232 | -42.4% |
| Furniture and vehicles | 24 | €37,648 | €20,321 | -€17,327 | -46.0% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €869,987 | €1,219,156 | +€349,169 | +40.1% |
| Stocks and contracts in progress | 3 | €644,217 | €882,401 | +€238,184 | +37.0% |
| Stocks | 30/36 | €644,217 | €882,401 | +€238,184 | +37.0% |
| Amounts receivable within one year | 40/41 | €112,299 | €133,109 | +€20,810 | +18.5% |
| Trade receivables | 40 | €69,918 | €123,688 | +€53,770 | +76.9% |
| Other amounts receivable | 41 | €42,381 | €9,421 | -€32,960 | -77.8% |
| Cash at bank and in hand | 54/58 | €109,862 | €202,661 | +€92,799 | +84.5% |
| Deferred charges and accrued income | 490/1 | €3,609 | €985 | -€2,624 | -72.7% |
| Total equity and liabilities | 10/49 | €1,547,165 | €1,841,499 | +€294,334 | +19.0% |
| Equity | 10/15 | €1,065,211 | €1,314,607 | +€249,396 | +23.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,003,211 | €1,252,607 | +€249,396 | +24.9% |
| Non-distributable reserves | 130/1 | €19,200 | €19,200 | = | 0.0% |
| Legal reserve | 130 | €19,200 | €19,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €106,798 | €99,691 | -€7,107 | -6.7% |
| Distributable reserves | 133 | €877,213 | €1,133,716 | +€256,503 | +29.2% |
| Provisions and deferred taxes | 16 | €35,599 | €33,230 | -€2,369 | -6.7% |
| Deferred taxes | 168 | €35,599 | €33,230 | -€2,369 | -6.7% |
| Amounts payable | 17/49 | €446,355 | €493,662 | +€47,307 | +10.6% |
| Amounts payable after more than one year | 17 | €203,151 | €246,466 | +€43,315 | +21.3% |
| Financial debts | 170/4 | €203,151 | €246,466 | +€43,315 | +21.3% |
| Amounts payable within one year | 42/48 | €243,204 | €247,196 | +€3,992 | +1.6% |
| Current portion of amounts payable after more than one year | 42 | €69,933 | €79,563 | +€9,630 | +13.8% |
| Financial debts | 43 | - | €100,000 | +€100,000 | |
| Credit institutions | 430/8 | - | €100,000 | +€100,000 | |
| Trade debts | 44 | €8,031 | €10,206 | +€2,175 | +27.1% |
| Suppliers | 440/4 | €8,031 | €10,206 | +€2,175 | +27.1% |
| Taxes, remuneration and social security | 45 | €70,680 | €25,226 | -€45,454 | -64.3% |
| Taxes | 450/3 | €70,680 | €22,798 | -€47,882 | -67.7% |
| Remuneration and social security | 454/9 | - | €2,428 | +€2,428 | |
| Other amounts payable | 47/48 | €94,560 | €32,201 | -€62,359 | -65.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,019 | €53,724 | -€2,295 | -4.1% |
| Other operating charges | 640/8 | €4,370 | €5,777 | +€1,407 | +32.2% |
| Gross operating margin | 9900 | €425,391 | €472,920 | +€47,529 | +11.2% |
| Operating profit (loss) | 9901 | €365,002 | €413,419 | +€48,417 | +13.3% |
| Financial income | 75/76B | €8,813 | €118 | -€8,695 | -98.7% |
| Recurring financial income | 75 | €8,813 | €118 | -€8,695 | -98.7% |
| Financial charges | 65/66B | €7,975 | €6,844 | -€1,131 | -14.2% |
| Recurring financial charges | 65 | €7,975 | €6,844 | -€1,131 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | €365,840 | €406,693 | +€40,853 | +11.2% |
| Transfer from deferred taxes | 780 | €2,369 | €2,369 | = | 0.0% |
| Income taxes | 67/77 | €117,240 | €102,166 | -€15,074 | -12.9% |
| Profit (loss) for the period | 9904 | €250,969 | €306,896 | +€55,927 | +22.3% |
| Transfer from tax-exempt reserves | 789 | €7,106 | €7,107 | +€1 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €258,075 | €314,003 | +€55,928 | +21.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.