DONATO: 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.
DONATO
Largest movements
- Stocks and contracts +€159,079
up €159,079 (+54.6%), from €291,548 to €450,627
of which Contracts in progress: +€224,577
- Receivables within one year +€67,492
up €67,492 (+3.0%), from €2.2m to €2.3m
of which Other amounts receivable: +€132,569
- Deferred charges and accrued income +€46,257
up €46,257 (+169.2%), from €27,347 to €73,604
- Tax, wage and social debts -€160,653
down €160,653 (-39.3%), from €408,745 to €248,092
of which Remuneration and social security: -€141,758
- Other debts +€149,705
up €149,705 (+119.4%), from €125,414 to €275,118
- Debts after one year +€135,793
up €135,793 (+11.8%), from €1.1m to €1.3m
of which Advances received on contracts in progress: +€81,020
- Trade debts +€120,982
up €120,982 (+97.0%), from €124,776 to €245,758
- Gross operating margin +€175,669
up €175,669 (+24.6%), from €714,644 to €890,313
- Staff costs +€111,211
up €111,211 (+20.3%), from €546,559 to €657,769
- Financial charges +€65,821
up €65,821 (+589.0%), from €11,174 to €76,996
- Other operating charges +€10,692
up €10,692 (+58.8%), from €18,180 to €28,872
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 | €3,138,878 | €3,396,908 | +€258,029 | +8.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €560,005 | €556,229 | -€3,775 | -0.7% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €549,323 | €546,547 | -€2,775 | -0.5% |
| Land and buildings | 22 | €369,433 | €344,684 | -€24,750 | -6.7% |
| Plant, machinery and equipment | 23 | €30,372 | €27,757 | -€2,615 | -8.6% |
| Furniture and vehicles | 24 | €149,517 | €174,107 | +€24,590 | +16.4% |
| Leasing and similar rights | 25 | €0 | €0 | = | |
| Financial fixed assets | 28 | €10,682 | €9,682 | -€1,000 | -9.4% |
| Current assets | 29/58 | €2,578,874 | €2,840,678 | +€261,805 | +10.2% |
| Stocks and contracts in progress | 3 | €291,548 | €450,627 | +€159,079 | +54.6% |
| Stocks | 30/36 | €291,548 | €226,051 | -€65,498 | -22.5% |
| Contracts in progress | 37 | - | €224,577 | +€224,577 | |
| Amounts receivable within one year | 40/41 | €2,215,637 | €2,283,130 | +€67,492 | +3.0% |
| Trade receivables | 40 | €341,929 | €276,853 | -€65,076 | -19.0% |
| Other amounts receivable | 41 | €1,873,708 | €2,006,277 | +€132,569 | +7.1% |
| Cash at bank and in hand | 54/58 | €44,342 | €33,318 | -€11,024 | -24.9% |
| Deferred charges and accrued income | 490/1 | €27,347 | €73,604 | +€46,257 | +169.2% |
| Total equity and liabilities | 10/49 | €3,138,878 | €3,396,908 | +€258,029 | +8.2% |
| Equity | 10/15 | €1,271,772 | €1,272,510 | +€738 | +0.1% |
| Contributions | 10/11 | €165,065 | €165,065 | = | 0.0% |
| Capital | 10 | €155,000 | €155,000 | = | 0.0% |
| Issued capital | 100 | €155,000 | €155,000 | = | 0.0% |
| Outside capital | 11 | €10,065 | €10,065 | = | 0.0% |
| Share premium | 1100/10 | €10,065 | €10,065 | = | 0.0% |
| Reserves | 13 | €220,903 | €220,903 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,500 | €15,500 | = | 0.0% |
| Legal reserve | 130 | €15,500 | €15,500 | = | 0.0% |
| Distributable reserves | 133 | €205,403 | €205,403 | = | 0.0% |
| Profit (loss) carried forward | 14 | €885,805 | €886,543 | +€738 | +0.1% |
| Amounts payable | 17/49 | €1,867,106 | €2,124,398 | +€257,292 | +13.8% |
| Amounts payable after more than one year | 17 | €1,148,109 | €1,283,903 | +€135,793 | +11.8% |
| Financial debts | 170/4 | €106,199 | €160,972 | +€54,773 | +51.6% |
| Advances received on contracts in progress | 176 | €1,041,910 | €1,122,930 | +€81,020 | +7.8% |
| Amounts payable within one year | 42/48 | €716,638 | €840,495 | +€123,857 | +17.3% |
| Current portion of amounts payable after more than one year | 42 | €36,300 | €56,467 | +€20,166 | +55.6% |
| Financial debts | 43 | €20,903 | €15,060 | -€5,843 | -28.0% |
| Credit institutions | 430/8 | €20,903 | €15,060 | -€5,843 | -28.0% |
| Trade debts | 44 | €124,776 | €245,758 | +€120,982 | +97.0% |
| Suppliers | 440/4 | €124,776 | €245,758 | +€120,982 | +97.0% |
| Advances received on contracts in progress | 46 | €500 | - | -€500 | |
| Taxes, remuneration and social security | 45 | €408,745 | €248,092 | -€160,653 | -39.3% |
| Taxes | 450/3 | €74,808 | €55,913 | -€18,895 | -25.3% |
| Remuneration and social security | 454/9 | €333,937 | €192,179 | -€141,758 | -42.5% |
| Other amounts payable | 47/48 | €125,414 | €275,118 | +€149,705 | +119.4% |
| Accrued charges and deferred income | 492/3 | €2,359 | - | -€2,359 | |
| Remuneration, social security and pensions | 62 | €546,559 | €657,769 | +€111,211 | +20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,575 | €98,418 | -€8,157 | -7.7% |
| Other operating charges | 640/8 | €18,180 | €28,872 | +€10,692 | +58.8% |
| Non-recurring operating charges | 66A | - | €6,247 | +€6,247 | |
| Gross operating margin | 9900 | €714,644 | €890,313 | +€175,669 | +24.6% |
| Operating profit (loss) | 9901 | €43,331 | €99,007 | +€55,677 | +128.5% |
| Financial income | 75/76B | €2,135 | €282 | -€1,853 | -86.8% |
| Recurring financial income | 75 | €2,135 | €282 | -€1,853 | -86.8% |
| Financial charges | 65/66B | €11,174 | €76,996 | +€65,821 | +589.0% |
| Recurring financial charges | 65 | €11,174 | €76,996 | +€65,821 | +589.0% |
| Profit (loss) for the period before taxes | 9903 | €34,292 | €22,294 | -€11,998 | -35.0% |
| Income taxes | 67/77 | €17,539 | €16,556 | -€983 | -5.6% |
| Profit (loss) for the period | 9904 | €16,753 | €5,738 | -€11,015 | -65.8% |
| Profit (loss) for the period to be appropriated | 9905 | €16,753 | €5,738 | -€11,015 | -65.8% |
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 5 October 2026 via checked.be.