DOCEO: 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.
DOCEO
Largest movements
- Stocks and contracts -€192,736
down €192,736 (-29.8%), from €646,005 to €453,269
- Receivables within one year -€165,184
down €165,184 (-34.2%), from €483,293 to €318,110
of which Trade receivables: -€104,144
- Cash -€32,620
down €32,620 (-31.2%), from €104,384 to €71,765
mainly Trade debts (-€297,434) and Net result for the year (-€114,791)
- Tangible fixed assets -€28,250
down €28,250 (-66.8%), from €42,293 to €14,043
of which Furniture and vehicles: -€15,243
- Financial fixed assets +€17,000
up €17,000 (+17000.0%), from €100 to €17,100
- Trade debts -€297,434
down €297,434 (-63.3%), from €470,219 to €172,785
- Profit (loss) carried forward -€114,791
down €114,791 (-61.7%), from -€186,008 to -€300,800
- Other debts +€75,000
up €75,000 (+39.5%), from €190,000 to €265,000
- Tax, wage and social debts -€47,664
down €47,664 (-55.9%), from €85,193 to €37,529
of which Remuneration and social security: -€27,248
- Debts after one year -€20,072
down €20,072 (-38.9%), from €51,604 to €31,532
- Gross operating margin +€158,940
up €158,940 (+47.3%), from €336,333 to €495,273
- Staff costs -€68,267
down €68,267 (-15.6%), from €437,885 to €369,618
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 | €1,313,752 | €908,040 | -€405,712 | -30.9% |
| Formation expenses | 20 | €20,959 | €14,959 | -€6,000 | -28.6% |
| Fixed assets | 21/28 | €51,385 | €37,135 | -€14,250 | -27.7% |
| Intangible fixed assets | 21 | €8,992 | €5,992 | -€3,000 | -33.4% |
| Tangible fixed assets | 22/27 | €42,293 | €14,043 | -€28,250 | -66.8% |
| Plant, machinery and equipment | 23 | €23,870 | €10,863 | -€13,007 | -54.5% |
| Furniture and vehicles | 24 | €18,423 | €3,180 | -€15,243 | -82.7% |
| Financial fixed assets | 28 | €100 | €17,100 | +€17,000 | +17000.0% |
| Current assets | 29/58 | €1,241,409 | €855,946 | -€385,462 | -31.1% |
| Stocks and contracts in progress | 3 | €646,005 | €453,269 | -€192,736 | -29.8% |
| Stocks | 30/36 | €646,005 | €453,269 | -€192,736 | -29.8% |
| Amounts receivable within one year | 40/41 | €483,293 | €318,110 | -€165,184 | -34.2% |
| Trade receivables | 40 | €397,770 | €293,627 | -€104,144 | -26.2% |
| Other amounts receivable | 41 | €85,523 | €24,483 | -€61,040 | -71.4% |
| Current investments | 50/53 | €344 | €344 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €104,384 | €71,765 | -€32,620 | -31.2% |
| Deferred charges and accrued income | 490/1 | €7,382 | €12,459 | +€5,077 | +68.8% |
| Total equity and liabilities | 10/49 | €1,313,752 | €908,040 | -€405,712 | -30.9% |
| Equity | 10/15 | -€122,008 | -€236,800 | -€114,791 | -94.1% |
| 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 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Legal reserve | 130 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€186,008 | -€300,800 | -€114,791 | -61.7% |
| Amounts payable | 17/49 | €1,435,761 | €1,144,840 | -€290,921 | -20.3% |
| Amounts payable after more than one year | 17 | €51,604 | €31,532 | -€20,072 | -38.9% |
| Financial debts | 170/4 | €51,604 | €31,532 | -€20,072 | -38.9% |
| Amounts payable within one year | 42/48 | €1,384,157 | €1,113,308 | -€270,849 | -19.6% |
| Current portion of amounts payable after more than one year | 42 | €28,745 | €27,994 | -€751 | -2.6% |
| Financial debts | 43 | €610,000 | €610,000 | = | 0.0% |
| Credit institutions | 430/8 | €610,000 | €610,000 | = | 0.0% |
| Trade debts | 44 | €470,219 | €172,785 | -€297,434 | -63.3% |
| Suppliers | 440/4 | €470,219 | €172,785 | -€297,434 | -63.3% |
| Taxes, remuneration and social security | 45 | €85,193 | €37,529 | -€47,664 | -55.9% |
| Taxes | 450/3 | €33,533 | €13,116 | -€20,417 | -60.9% |
| Remuneration and social security | 454/9 | €51,660 | €24,413 | -€27,248 | -52.7% |
| Other amounts payable | 47/48 | €190,000 | €265,000 | +€75,000 | +39.5% |
| Remuneration, social security and pensions | 62 | €437,885 | €369,618 | -€68,267 | -15.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,343 | €26,237 | +€1,894 | +7.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €498 | +€498 | |
| Other operating charges | 640/8 | €5,890 | €5,448 | -€442 | -7.5% |
| Non-recurring operating charges | 66A | €1,091 | €169,205 | +€168,114 | +15407.6% |
| Gross operating margin | 9900 | €336,333 | €495,273 | +€158,940 | +47.3% |
| Operating profit (loss) | 9901 | -€132,875 | -€75,733 | +€57,142 | +43.0% |
| Financial income | 75/76B | €3,247 | €2,921 | -€326 | -10.0% |
| Recurring financial income | 75 | €3,247 | €2,921 | -€326 | -10.0% |
| Financial charges | 65/66B | €43,307 | €40,950 | -€2,357 | -5.4% |
| Recurring financial charges | 65 | €43,307 | €40,950 | -€2,357 | -5.4% |
| Profit (loss) for the period before taxes | 9903 | -€172,935 | -€113,762 | +€59,173 | +34.2% |
| Income taxes | 67/77 | €1,238 | €1,029 | -€208 | -16.8% |
| Profit (loss) for the period | 9904 | -€174,173 | -€114,791 | +€59,381 | +34.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€174,173 | -€114,791 | +€59,381 | +34.1% |
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 3 October 2026 via checked.be.