DONALDM: 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.
DONALDM
Largest movements
- Cash -€86,899
down €86,899 (-76.4%), from €113,696 to €26,797
mainly Other debts (-€82,297) and Contributions, distributions and other (-€16,000)
- Receivables within one year -€3,904
down €3,904 (-27.9%), from €13,983 to €10,079
of which Trade receivables: -€2,435
- Tangible fixed assets -€1,559
down €1,559 (-26.7%), from €5,848 to €4,288
- Other debts -€82,297
down €82,297 (-83.7%), from €98,297 to €16,000
- Tax, wage and social debts -€11,552
down €11,552 (-70.2%), from €16,453 to €4,901
of which Taxes: -€11,042
- Profit (loss) carried forward +€1,530
new in 2025: €1,530
- Gross operating margin -€104,677
down €104,677 (-72.2%), from €144,894 to €40,217
- Taxes -€22,781
down €22,781 (-94.5%), from €24,105 to €1,323
- Financial charges -€3,328
down €3,328 (-93.9%), from €3,546 to €218
of which Non-recurring financial charges: -€3,337
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 | €133,527 | €41,165 | -€92,362 | -69.2% |
| Fixed assets | 21/28 | €5,848 | €4,288 | -€1,559 | -26.7% |
| Tangible fixed assets | 22/27 | €5,848 | €4,288 | -€1,559 | -26.7% |
| Furniture and vehicles | 24 | €5,848 | €4,288 | -€1,559 | -26.7% |
| Current assets | 29/58 | €127,679 | €36,877 | -€90,803 | -71.1% |
| Amounts receivable within one year | 40/41 | €13,983 | €10,079 | -€3,904 | -27.9% |
| Trade receivables | 40 | €9,425 | €6,990 | -€2,435 | -25.8% |
| Other amounts receivable | 41 | €4,558 | €3,089 | -€1,469 | -32.2% |
| Cash at bank and in hand | 54/58 | €113,696 | €26,797 | -€86,899 | -76.4% |
| Total equity and liabilities | 10/49 | €133,527 | €41,165 | -€92,362 | -69.2% |
| Equity | 10/15 | €18,551 | €20,081 | +€1,530 | +8.2% |
| Reserves | 13 | €18,551 | €18,551 | = | 0.0% |
| Non-distributable reserves | 130/1 | €18,551 | €18,551 | = | 0.0% |
| Reserves not available under the articles | 1311 | €18,551 | €18,551 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €1,530 | +€1,530 | |
| Amounts payable | 17/49 | €114,976 | €21,084 | -€93,892 | -81.7% |
| Amounts payable within one year | 42/48 | €114,976 | €21,084 | -€93,892 | -81.7% |
| Trade debts | 44 | €226 | €183 | -€44 | -19.2% |
| Suppliers | 440/4 | €226 | €183 | -€44 | -19.2% |
| Taxes, remuneration and social security | 45 | €16,453 | €4,901 | -€11,552 | -70.2% |
| Taxes | 450/3 | €12,366 | €1,323 | -€11,042 | -89.3% |
| Remuneration and social security | 454/9 | €4,087 | €3,578 | -€509 | -12.5% |
| Other amounts payable | 47/48 | €98,297 | €16,000 | -€82,297 | -83.7% |
| Remuneration, social security and pensions | 62 | €15,339 | €15,725 | +€386 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,057 | €1,559 | +€503 | +47.6% |
| Other operating charges | 640/8 | €4,356 | €3,863 | -€493 | -11.3% |
| Gross operating margin | 9900 | €144,894 | €40,217 | -€104,677 | -72.2% |
| Operating profit (loss) | 9901 | €124,143 | €19,071 | -€105,072 | -84.6% |
| Financial charges | 65/66B | €3,546 | €218 | -€3,328 | -93.9% |
| Recurring financial charges | 65 | €209 | €218 | +€9 | +4.2% |
| Non-recurring financial charges | 66B | €3,337 | - | -€3,337 | |
| Profit (loss) for the period before taxes | 9903 | €120,597 | €18,853 | -€101,744 | -84.4% |
| Income taxes | 67/77 | €24,105 | €1,323 | -€22,781 | -94.5% |
| Profit (loss) for the period | 9904 | €96,492 | €17,530 | -€78,962 | -81.8% |
| Profit (loss) for the period to be appropriated | 9905 | €96,492 | €17,530 | -€78,962 | -81.8% |
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 8 October 2026 via checked.be.