DN&T: 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.
DN&T
Largest movements
- Cash -€253,886
down €253,886 (-68.8%), from €369,240 to €115,354
mainly Investment in fixed assets (net) (-€300,231) and Receivables within one year (-€110,789)
- Intangible fixed assets +€172,208
up €172,208 (+451.3%), from €38,159 to €210,367
- Receivables within one year +€110,789
up €110,789 (+69.8%), from €158,733 to €269,522
of which Trade receivables: +€110,177
- Profit (loss) carried forward +€54,500
up €54,500 (+38.0%), from €143,248 to €197,748
- Accrued charges and deferred income -€22,152
down €22,152 (-100.0%), from €22,152 to €0
- Advances received -€18,091
down €18,091 (-27.4%), from €65,919 to €47,828
- Other debts +€13,411
up €13,411 (+36.1%), from €37,153 to €50,564
- Debts after one year -€13,038
down €13,038 (-7.8%), from €168,033 to €154,996
- Gross operating margin +€219,659
up €219,659 (+70.7%), from €310,797 to €530,456
- Staff costs +€95,976
up €95,976 (+50.1%), from €191,563 to €287,539
- Depreciation +€94,030
up €94,030 (+284.9%), from €32,999 to €127,030
- Other operating charges +€6,105
up €6,105 (+120.0%), from €5,087 to €11,192
- Taxes -€5,644
down €5,644, from €456 to -€5,187
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 | €919,185 | €956,008 | +€36,823 | +4.0% |
| Fixed assets | 21/28 | €268,371 | €441,572 | +€173,201 | +64.5% |
| Intangible fixed assets | 21 | €38,159 | €210,367 | +€172,208 | +451.3% |
| Tangible fixed assets | 22/27 | €230,039 | €223,301 | -€6,738 | -2.9% |
| Land and buildings | 22 | €224,621 | €217,260 | -€7,362 | -3.3% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €5,178 | €5,861 | +€684 | +13.2% |
| Other tangible fixed assets | 26 | €240 | €180 | -€60 | -25.0% |
| Financial fixed assets | 28 | €173 | €7,904 | +€7,731 | +4474.0% |
| Current assets | 29/58 | €650,814 | €514,436 | -€136,378 | -21.0% |
| Amounts receivable after more than one year | 29 | - | €5,187 | +€5,187 | |
| Other amounts receivable | 291 | - | €5,187 | +€5,187 | |
| Amounts receivable within one year | 40/41 | €158,733 | €269,522 | +€110,789 | +69.8% |
| Trade receivables | 40 | €158,498 | €268,675 | +€110,177 | +69.5% |
| Other amounts receivable | 41 | €235 | €847 | +€612 | +260.5% |
| Current investments | 50/53 | €101,818 | €103,226 | +€1,408 | +1.4% |
| Cash at bank and in hand | 54/58 | €369,240 | €115,354 | -€253,886 | -68.8% |
| Deferred charges and accrued income | 490/1 | €21,023 | €21,146 | +€123 | +0.6% |
| Total equity and liabilities | 10/49 | €919,185 | €956,008 | +€36,823 | +4.0% |
| Equity | 10/15 | €457,018 | €511,518 | +€54,500 | +11.9% |
| Contributions | 10/11 | €80,700 | €80,700 | = | 0.0% |
| Capital | 10 | €80,700 | €80,700 | = | 0.0% |
| Issued capital | 100 | €80,700 | €80,700 | = | 0.0% |
| Reserves | 13 | €233,070 | €233,070 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,070 | €8,070 | = | 0.0% |
| Legal reserve | 130 | €8,070 | €8,070 | = | 0.0% |
| Distributable reserves | 133 | €225,000 | €225,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €143,248 | €197,748 | +€54,500 | +38.0% |
| Amounts payable | 17/49 | €462,166 | €444,489 | -€17,677 | -3.8% |
| Amounts payable after more than one year | 17 | €168,033 | €154,996 | -€13,038 | -7.8% |
| Financial debts | 170/4 | €168,033 | €154,996 | -€13,038 | -7.8% |
| Amounts payable within one year | 42/48 | €271,981 | €289,494 | +€17,513 | +6.4% |
| Current portion of amounts payable after more than one year | 42 | €12,889 | €13,038 | +€149 | +1.2% |
| Trade debts | 44 | €123,377 | €133,379 | +€10,002 | +8.1% |
| Suppliers | 440/4 | €123,377 | €133,379 | +€10,002 | +8.1% |
| Advances received on contracts in progress | 46 | €65,919 | €47,828 | -€18,091 | -27.4% |
| Taxes, remuneration and social security | 45 | €32,643 | €44,685 | +€12,042 | +36.9% |
| Taxes | 450/3 | €11,723 | €9,752 | -€1,971 | -16.8% |
| Remuneration and social security | 454/9 | €20,921 | €34,933 | +€14,012 | +67.0% |
| Other amounts payable | 47/48 | €37,153 | €50,564 | +€13,411 | +36.1% |
| Accrued charges and deferred income | 492/3 | €22,152 | €0 | -€22,152 | -100.0% |
| Remuneration, social security and pensions | 62 | €191,563 | €287,539 | +€95,976 | +50.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,999 | €127,030 | +€94,030 | +284.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €5,087 | €11,192 | +€6,105 | +120.0% |
| Gross operating margin | 9900 | €310,797 | €530,456 | +€219,659 | +70.7% |
| Operating profit (loss) | 9901 | €81,147 | €104,695 | +€23,548 | +29.0% |
| Financial income | 75/76B | €1,412 | €2,605 | +€1,193 | +84.5% |
| Recurring financial income | 75 | €1,412 | €2,605 | +€1,193 | +84.5% |
| Financial charges | 65/66B | €3,977 | €7,424 | +€3,447 | +86.7% |
| Recurring financial charges | 65 | €3,977 | €7,424 | +€3,447 | +86.7% |
| Profit (loss) for the period before taxes | 9903 | €78,583 | €99,877 | +€21,294 | +27.1% |
| Income taxes | 67/77 | €456 | -€5,187 | -€5,644 | |
| Profit (loss) for the period | 9904 | €78,126 | €105,064 | +€26,938 | +34.5% |
| Profit (loss) for the period to be appropriated | 9905 | €78,126 | €105,064 | +€26,938 | +34.5% |
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 5 October 2026 via checked.be.