DON: 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.
DON
Largest movements
- Stocks and contracts +€44,035
new in 2025: €44,035
- Tangible fixed assets -€13,297
down €13,297 (-1.4%), from €931,462 to €918,165
of which Land and buildings: -€10,598
- Cash +€12,180
up €12,180 (+85.7%), from €14,218 to €26,397
mainly Other debts (+€145,375) and Trade debts (+€47,209)
- Debts after one year -€151,432
down €151,432 (-27.1%), from €558,845 to €407,412
- Other debts +€145,375
up €145,375 (+564.3%), from €25,763 to €171,138
- Reserves +€131,347
up €131,347 (+1961.5%), from €6,696 to €138,043
of which Distributable reserves: +€131,347
- Profit (loss) carried forward -€130,297
down €130,297 (-100.0%), from €130,297 to €0
- Trade debts +€47,209
up €47,209 (+32634.6%), from €145 to €47,354
- Gross operating margin -€29,495
down €29,495 (-34.3%), from €86,020 to €56,525
- Taxes -€8,854
down €8,854 (-94.6%), from €9,357 to €503
- Financial charges +€5,337
up €5,337 (+46.8%), from €11,392 to €16,729
- Depreciation -€5,334
down €5,334 (-16.6%), from €32,222 to €26,887
- Other operating charges +€4,582
up €4,582 (+67.6%), from €6,775 to €11,357
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 | €958,065 | €1,009,433 | +€51,368 | +5.4% |
| Fixed assets | 21/28 | €937,712 | €924,415 | -€13,297 | -1.4% |
| Tangible fixed assets | 22/27 | €931,462 | €918,165 | -€13,297 | -1.4% |
| Land and buildings | 22 | €927,318 | €916,720 | -€10,598 | -1.1% |
| Furniture and vehicles | 24 | €4,144 | €1,445 | -€2,699 | -65.1% |
| Financial fixed assets | 28 | €6,250 | €6,250 | = | 0.0% |
| Current assets | 29/58 | €20,353 | €85,018 | +€64,665 | +317.7% |
| Stocks and contracts in progress | 3 | - | €44,035 | +€44,035 | |
| Stocks | 30/36 | - | €44,035 | +€44,035 | |
| Amounts receivable within one year | 40/41 | €2,936 | €11,951 | +€9,015 | +307.1% |
| Trade receivables | 40 | - | €3,284 | +€3,284 | |
| Other amounts receivable | 41 | €2,936 | €8,667 | +€5,731 | +195.2% |
| Cash at bank and in hand | 54/58 | €14,218 | €26,397 | +€12,180 | +85.7% |
| Deferred charges and accrued income | 490/1 | €3,199 | €2,635 | -€565 | -17.6% |
| Total equity and liabilities | 10/49 | €958,065 | €1,009,433 | +€51,368 | +5.4% |
| Equity | 10/15 | €305,543 | €306,593 | +€1,050 | +0.3% |
| Contributions | 10/11 | €168,550 | €168,550 | = | 0.0% |
| Reserves | 13 | €6,696 | €138,043 | +€131,347 | +1961.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €6,696 | €138,043 | +€131,347 | +1961.5% |
| Profit (loss) carried forward | 14 | €130,297 | €0 | -€130,297 | -100.0% |
| Amounts payable | 17/49 | €652,522 | €702,840 | +€50,318 | +7.7% |
| Amounts payable after more than one year | 17 | €558,845 | €407,412 | -€151,432 | -27.1% |
| Financial debts | 170/4 | €558,845 | €407,412 | -€151,432 | -27.1% |
| Amounts payable within one year | 42/48 | €93,677 | €295,427 | +€201,750 | +215.4% |
| Current portion of amounts payable after more than one year | 42 | €65,071 | €76,432 | +€11,361 | +17.5% |
| Trade debts | 44 | €145 | €47,354 | +€47,209 | +32634.6% |
| Suppliers | 440/4 | €145 | €47,354 | +€47,209 | +32634.6% |
| Taxes, remuneration and social security | 45 | €2,698 | €503 | -€2,195 | -81.4% |
| Taxes | 450/3 | €2,698 | €503 | -€2,195 | -81.4% |
| Other amounts payable | 47/48 | €25,763 | €171,138 | +€145,375 | +564.3% |
| Non-recurring operating income | 76A | - | €29,446 | +€29,446 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,222 | €26,887 | -€5,334 | -16.6% |
| Other operating charges | 640/8 | €6,775 | €11,357 | +€4,582 | +67.6% |
| Gross operating margin | 9900 | €86,020 | €56,525 | -€29,495 | -34.3% |
| Operating profit (loss) | 9901 | €47,023 | €18,281 | -€28,742 | -61.1% |
| Financial income | 75/76B | €4 | €1 | -€3 | -67.2% |
| Recurring financial income | 75 | €4 | €1 | -€3 | -67.2% |
| Financial charges | 65/66B | €11,392 | €16,729 | +€5,337 | +46.8% |
| Recurring financial charges | 65 | €11,392 | €16,729 | +€5,337 | +46.8% |
| Profit (loss) for the period before taxes | 9903 | €35,635 | €1,553 | -€34,082 | -95.6% |
| Income taxes | 67/77 | €9,357 | €503 | -€8,854 | -94.6% |
| Profit (loss) for the period | 9904 | €26,278 | €1,050 | -€25,228 | -96.0% |
| Profit (loss) for the period to be appropriated | 9905 | €26,278 | €1,050 | -€25,228 | -96.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.