DOCHAIN NICOLAS: 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.
DOCHAIN NICOLAS
Largest movements
- Cash +€126,828
up €126,828 (+44.9%), from €282,486 to €409,314
mainly Net result for the year (+€394,344) and Other debts (+€105,924)
- Receivables within one year +€67,112
up €67,112 (+803%), from €8,361 to €75,472
of which Trade receivables: +€74,612
- Tangible fixed assets +€11,330
up €11,330 (+20.3%), from €55,676 to €67,006
of which Other tangible fixed assets: +€25,115
- Other debts +€105,924
up €105,924 (+54.6%), from €194,141 to €300,065
- Reserves +€90,000
up €90,000 (+35.9%), from €250,860 to €340,860
of which Distributable reserves: +€90,000
- Debts after one year -€81,726
down €81,726 (-27.8%), from €293,493 to €211,768
- Trade debts +€75,789
up €75,789 (+13,465%), from €563 to €76,352
- Gross operating margin +€181,750
up €181,750 (+49.0%), from €370,932 to €552,682
- Taxes +€45,644
up €45,644 (+52.4%), from €87,110 to €132,754
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 | €858,922 | €1,064,308 | +€205,386 | +23.9% |
| Fixed assets | 21/28 | €566,076 | €577,406 | +€11,330 | +2.0% |
| Tangible fixed assets | 22/27 | €55,676 | €67,006 | +€11,330 | +20.3% |
| Plant, machinery and equipment | 23 | €1,530 | €1,046 | -€484 | -31.7% |
| Furniture and vehicles | 24 | €53,418 | €40,118 | -€13,301 | -24.9% |
| Other tangible fixed assets | 26 | €728 | €25,843 | +€25,115 | +3,452% |
| Financial fixed assets | 28 | €510,400 | €510,400 | = | 0.0% |
| Current assets | 29/58 | €292,846 | €486,902 | +€194,056 | +66.3% |
| Amounts receivable within one year | 40/41 | €8,361 | €75,472 | +€67,112 | +803% |
| Trade receivables | 40 | €388 | €75,000 | +€74,612 | +19,210% |
| Other amounts receivable | 41 | €7,972 | €472 | -€7,500 | -94.1% |
| Cash at bank and in hand | 54/58 | €282,486 | €409,314 | +€126,828 | +44.9% |
| Deferred charges and accrued income | 490/1 | €1,998 | €2,116 | +€117 | +5.9% |
| Total equity and liabilities | 10/49 | €858,922 | €1,064,308 | +€205,386 | +23.9% |
| Equity | 10/15 | €273,253 | €367,597 | +€94,344 | +34.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €250,860 | €340,860 | +€90,000 | +35.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €249,000 | €339,000 | +€90,000 | +36.1% |
| Profit (loss) carried forward | 14 | €3,793 | €8,137 | +€4,344 | +115% |
| Amounts payable | 17/49 | €585,669 | €696,711 | +€111,042 | +19.0% |
| Amounts payable after more than one year | 17 | €293,493 | €211,768 | -€81,726 | -27.8% |
| Financial debts | 170/4 | €293,493 | €211,768 | -€81,726 | -27.8% |
| Amounts payable within one year | 42/48 | €292,176 | €484,944 | +€192,768 | +66.0% |
| Current portion of amounts payable after more than one year | 42 | €80,865 | €81,726 | +€861 | +1.1% |
| Financial debts | 43 | €13,607 | €13,547 | -€60 | -0.4% |
| Credit institutions | 430/8 | €13,607 | €13,547 | -€60 | -0.4% |
| Trade debts | 44 | €563 | €76,352 | +€75,789 | +13,465% |
| Suppliers | 440/4 | €563 | €76,352 | +€75,789 | +13,465% |
| Taxes, remuneration and social security | 45 | €3,000 | €13,254 | +€10,254 | +342% |
| Taxes | 450/3 | €3,000 | €13,254 | +€10,254 | +342% |
| Other amounts payable | 47/48 | €194,141 | €300,065 | +€105,924 | +54.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,137 | €20,364 | +€1,227 | +6.4% |
| Other operating charges | 640/8 | €962 | €992 | +€30 | +3.1% |
| Gross operating margin | 9900 | €370,932 | €552,682 | +€181,750 | +49.0% |
| Operating profit (loss) | 9901 | €350,833 | €531,326 | +€180,493 | +51.4% |
| Financial charges | 65/66B | €5,280 | €4,227 | -€1,053 | -19.9% |
| Recurring financial charges | 65 | €5,280 | €4,227 | -€1,053 | -19.9% |
| Profit (loss) for the period before taxes | 9903 | €345,554 | €527,099 | +€181,545 | +52.5% |
| Income taxes | 67/77 | €87,110 | €132,754 | +€45,644 | +52.4% |
| Profit (loss) for the period | 9904 | €258,443 | €394,344 | +€135,901 | +52.6% |
| Profit (loss) for the period to be appropriated | 9905 | €258,443 | €394,344 | +€135,901 | +52.6% |
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 17 October 2026 via checked.be.