DNDS: 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.
DNDS
Largest movements
- Receivables within one year -€25,490
down €25,490 (-59.2%), from €43,023 to €17,532
of which Trade receivables: -€25,468
- Cash +€12,662
up €12,662 (+297%), from €4,263 to €16,925
mainly Net result for the year (+€29,120) and Receivables within one year (+€25,490)
- Tangible fixed assets -€2,861
down €2,861 (-77.5%), from €3,693 to €832
- Debts after one year -€13,889
no longer reported in 2025 (was €13,889)
- Current portion of long-term debt -€9,882
down €9,882 (-41.6%), from €23,771 to €13,889
- Tax, wage and social debts +€4,536
up €4,536 (+14.8%), from €30,617 to €35,153
of which Taxes: +€5,953
- Reserves +€3,473
up €3,473 (+3.1%), from €113,147 to €116,620
- Depreciation -€9,997
down €9,997 (-77.7%), from €12,858 to €2,861
- Gross operating margin -€5,799
down €5,799 (-11.0%), from €52,811 to €47,012
- Taxes +€2,951
up €2,951 (+28.6%), from €10,302 to €13,253
- Financial charges -€591
down €591 (-48.2%), from €1,226 to €635
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 | €187,672 | €172,065 | -€15,607 | -8.3% |
| Fixed assets | 21/28 | €140,386 | €137,525 | -€2,861 | -2.0% |
| Tangible fixed assets | 22/27 | €3,693 | €832 | -€2,861 | -77.5% |
| Furniture and vehicles | 24 | €3,693 | €832 | -€2,861 | -77.5% |
| Financial fixed assets | 28 | €136,693 | €136,693 | = | 0.0% |
| Current assets | 29/58 | €47,286 | €34,540 | -€12,746 | -27.0% |
| Amounts receivable within one year | 40/41 | €43,023 | €17,532 | -€25,490 | -59.2% |
| Trade receivables | 40 | €40,436 | €14,968 | -€25,468 | -63.0% |
| Other amounts receivable | 41 | €2,587 | €2,564 | -€23 | -0.9% |
| Cash at bank and in hand | 54/58 | €4,263 | €16,925 | +€12,662 | +297% |
| Deferred charges and accrued income | 490/1 | - | €83 | +€83 | |
| Total equity and liabilities | 10/49 | €187,672 | €172,065 | -€15,607 | -8.3% |
| Equity | 10/15 | €119,147 | €122,620 | +€3,473 | +2.9% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €113,147 | €116,620 | +€3,473 | +3.1% |
| Distributable reserves | 133 | €113,147 | €116,620 | +€3,473 | +3.1% |
| Amounts payable | 17/49 | €68,525 | €49,445 | -€19,080 | -27.8% |
| Amounts payable after more than one year | 17 | €13,889 | - | -€13,889 | |
| Financial debts | 170/4 | €13,889 | - | -€13,889 | |
| Amounts payable within one year | 42/48 | €54,636 | €49,445 | -€5,191 | -9.5% |
| Current portion of amounts payable after more than one year | 42 | €23,771 | €13,889 | -€9,882 | -41.6% |
| Trade debts | 44 | €248 | €403 | +€154 | +62.1% |
| Suppliers | 440/4 | €248 | €403 | +€154 | +62.1% |
| Taxes, remuneration and social security | 45 | €30,617 | €35,153 | +€4,536 | +14.8% |
| Taxes | 450/3 | €29,200 | €35,153 | +€5,953 | +20.4% |
| Remuneration and social security | 454/9 | €1,417 | - | -€1,417 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,858 | €2,861 | -€9,997 | -77.7% |
| Other operating charges | 640/8 | €1,238 | €1,143 | -€96 | -7.7% |
| Gross operating margin | 9900 | €52,811 | €47,012 | -€5,799 | -11.0% |
| Operating profit (loss) | 9901 | €38,715 | €43,008 | +€4,293 | +11.1% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,226 | €635 | -€591 | -48.2% |
| Recurring financial charges | 65 | €1,226 | €635 | -€591 | -48.2% |
| Profit (loss) for the period before taxes | 9903 | €37,489 | €42,373 | +€4,884 | +13.0% |
| Income taxes | 67/77 | €10,302 | €13,253 | +€2,951 | +28.6% |
| Profit (loss) for the period | 9904 | €27,187 | €29,120 | +€1,933 | +7.1% |
| Profit (loss) for the period to be appropriated | 9905 | €27,187 | €29,120 | +€1,933 | +7.1% |
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 29 October 2026 via checked.be.