DNF: 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.
DNF
Largest movements
- Tangible fixed assets -€87,273
down €87,273 (-100.0%), from €87,273 to €0
- Cash +€67,066
up €67,066 (+304.2%), from €22,046 to €89,111
mainly Investment in fixed assets (net) (+€87,273) and Receivables within one year (+€4,259)
- Receivables within one year -€4,259
down €4,259 (-51.3%), from €8,294 to €4,035
of which Trade receivables: -€8,096
- Profit (loss) carried forward -€19,425
down €19,425, from €8,726 to -€10,699
- Debts after one year -€7,925
down €7,925 (-15.8%), from €50,047 to €42,121
- Trade debts +€3,708
up €3,708 (+29.2%), from €12,694 to €16,402
- Gross operating margin -€3,578
down €3,578 (-41.4%), from €8,635 to €5,057
- Depreciation -€2,409
down €2,409 (-100.0%), from €2,409 to €0
- Staff costs -€493
down €493 (-100.0%), from €493 to €0
- Financial charges -€218
down €218 (-17.8%), from €1,225 to €1,007
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 | €117,612 | €93,146 | -€24,466 | -20.8% |
| Fixed assets | 21/28 | €87,273 | €0 | -€87,273 | -100.0% |
| Tangible fixed assets | 22/27 | €87,273 | €0 | -€87,273 | -100.0% |
| Land and buildings | 22 | €87,273 | €0 | -€87,273 | -100.0% |
| Current assets | 29/58 | €30,339 | €93,146 | +€62,807 | +207.0% |
| Amounts receivable within one year | 40/41 | €8,294 | €4,035 | -€4,259 | -51.3% |
| Trade receivables | 40 | €8,294 | €197 | -€8,096 | -97.6% |
| Other amounts receivable | 41 | - | €3,838 | +€3,838 | |
| Cash at bank and in hand | 54/58 | €22,046 | €89,111 | +€67,066 | +304.2% |
| Total equity and liabilities | 10/49 | €117,612 | €93,146 | -€24,466 | -20.8% |
| Equity | 10/15 | €21,126 | €1,701 | -€19,425 | -92.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,726 | -€10,699 | -€19,425 | |
| Amounts payable | 17/49 | €96,486 | €91,446 | -€5,041 | -5.2% |
| Amounts payable after more than one year | 17 | €50,047 | €42,121 | -€7,925 | -15.8% |
| Financial debts | 170/4 | €50,047 | €42,121 | -€7,925 | -15.8% |
| Amounts payable within one year | 42/48 | €46,440 | €49,325 | +€2,885 | +6.2% |
| Current portion of amounts payable after more than one year | 42 | €7,811 | €7,925 | +€115 | +1.5% |
| Trade debts | 44 | €12,694 | €16,402 | +€3,708 | +29.2% |
| Suppliers | 440/4 | €12,694 | €16,402 | +€3,708 | +29.2% |
| Taxes, remuneration and social security | 45 | €7,889 | €7,971 | +€82 | +1.0% |
| Taxes | 450/3 | €7,889 | €7,971 | +€82 | +1.0% |
| Other amounts payable | 47/48 | €18,045 | €17,025 | -€1,020 | -5.7% |
| Remuneration, social security and pensions | 62 | €493 | €0 | -€493 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,409 | €0 | -€2,409 | -100.0% |
| Other operating charges | 640/8 | €1,485 | €1,487 | +€3 | +0.2% |
| Non-recurring operating charges | 66A | - | €22,046 | +€22,046 | |
| Gross operating margin | 9900 | €8,635 | €5,057 | -€3,578 | -41.4% |
| Operating profit (loss) | 9901 | €4,248 | -€18,476 | -€22,723 | |
| Financial charges | 65/66B | €1,225 | €1,007 | -€218 | -17.8% |
| Recurring financial charges | 65 | €1,225 | €1,007 | -€218 | -17.8% |
| Profit (loss) for the period before taxes | 9903 | €3,023 | -€19,483 | -€22,506 | |
| Income taxes | 67/77 | €0 | -€58 | -€58 | |
| Profit (loss) for the period | 9904 | €3,023 | -€19,425 | -€22,448 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,023 | -€19,425 | -€22,448 |
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 7 October 2026 via checked.be.