DN-ANALYTICS: 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.
DN-ANALYTICS
Largest movements
- Receivables within one year +€602,133
up €602,133 (+322%), from €186,996 to €789,129
of which Trade receivables: +€526,176
- Cash -€23,923
down €23,923 (-5.8%), from €412,527 to €388,604
mainly Contributions, distributions and other (-€651,000) and Receivables within one year (-€602,133)
- Tangible fixed assets +€15,138
up €15,138 (+189%), from €7,998 to €23,136
- Other debts +€340,100
up €340,100 (+159%), from €213,250 to €553,350
- Tax, wage and social debts +€243,198
up €243,198 (+86.0%), from €282,789 to €525,987
of which Remuneration and social security: +€157,645
- Trade debts +€13,340
up €13,340 (+14.9%), from €89,550 to €102,890
- Gross operating margin +€1.5m
up €1.5m (+97.0%), from €1.5m to €3.0m
- Staff costs +€810,587
up €810,587 (+64.9%), from €1.2m to €2.1m
- Taxes +€160,924
up €160,924 (+205%), from €78,370 to €239,294
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 | €607,521 | €1,200,869 | +€593,348 | +97.7% |
| Fixed assets | 21/28 | €7,998 | €23,136 | +€15,138 | +189% |
| Tangible fixed assets | 22/27 | €7,998 | €23,136 | +€15,138 | +189% |
| Furniture and vehicles | 24 | €7,998 | €23,136 | +€15,138 | +189% |
| Current assets | 29/58 | €599,523 | €1,177,733 | +€578,210 | +96.4% |
| Amounts receivable within one year | 40/41 | €186,996 | €789,129 | +€602,133 | +322% |
| Trade receivables | 40 | €172,517 | €698,693 | +€526,176 | +305% |
| Other amounts receivable | 41 | €14,479 | €90,436 | +€75,957 | +525% |
| Cash at bank and in hand | 54/58 | €412,527 | €388,604 | -€23,923 | -5.8% |
| Total equity and liabilities | 10/49 | €607,521 | €1,200,869 | +€593,348 | +97.7% |
| Equity | 10/15 | €21,932 | €18,642 | -€3,290 | -15.0% |
| Contributions | 10/11 | €18,602 | €18,602 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,330 | €40 | -€3,290 | -98.8% |
| Amounts payable | 17/49 | €585,589 | €1,182,227 | +€596,638 | +102% |
| Amounts payable within one year | 42/48 | €585,589 | €1,182,227 | +€596,638 | +102% |
| Trade debts | 44 | €89,550 | €102,890 | +€13,340 | +14.9% |
| Suppliers | 440/4 | €89,550 | €102,890 | +€13,340 | +14.9% |
| Taxes, remuneration and social security | 45 | €282,789 | €525,987 | +€243,198 | +86.0% |
| Taxes | 450/3 | €143,074 | €228,627 | +€85,553 | +59.8% |
| Remuneration and social security | 454/9 | €139,715 | €297,360 | +€157,645 | +113% |
| Other amounts payable | 47/48 | €213,250 | €553,350 | +€340,100 | +159% |
| Remuneration, social security and pensions | 62 | €1,249,769 | €2,060,356 | +€810,587 | +64.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,703 | €10,082 | +€4,379 | +76.8% |
| Other operating charges | 640/8 | €1,142 | €4,672 | +€3,530 | +309% |
| Non-recurring operating charges | 66A | €10 | €138 | +€128 | +1,280% |
| Gross operating margin | 9900 | €1,504,098 | €2,963,443 | +€1.5m | +97.0% |
| Operating profit (loss) | 9901 | €247,474 | €888,195 | +€640,721 | +259% |
| Financial income | 75/76B | €278 | €423 | +€145 | +52.2% |
| Recurring financial income | 75 | €278 | €423 | +€145 | +52.2% |
| Financial charges | 65/66B | €2,275 | €1,614 | -€661 | -29.1% |
| Recurring financial charges | 65 | €2,275 | €1,614 | -€661 | -29.1% |
| Profit (loss) for the period before taxes | 9903 | €245,477 | €887,004 | +€641,527 | +261% |
| Income taxes | 67/77 | €78,370 | €239,294 | +€160,924 | +205% |
| Profit (loss) for the period | 9904 | €167,107 | €647,710 | +€480,603 | +288% |
| Profit (loss) for the period to be appropriated | 9905 | €167,107 | €647,710 | +€480,603 | +288% |
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 13 October 2026 via checked.be.