DONI M: 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.
DONI M
Largest movements
- Receivables within one year -€87,680
down €87,680 (-97.1%), from €90,301 to €2,620
of which Trade receivables: -€59,305
- Cash +€72,353
up €72,353 (+114%), from €63,713 to €136,066
mainly Receivables within one year (+€87,680) and Net result for the year (+€40,699)
- Tangible fixed assets +€24,987
up €24,987 (+26.7%), from €93,457 to €118,444
- Profit (loss) carried forward +€40,699
up €40,699 (+25.5%), from €159,460 to €200,159
- Tax, wage and social debts -€34,568
down €34,568 (-87.7%), from €39,412 to €4,845
- Debts after one year +€24,959
new in 2025: €24,959
- Trade debts -€23,162
down €23,162 (-55.5%), from €41,725 to €18,563
- Current portion of long-term debt +€9,614
new in 2025: €9,614
- Gross operating margin +€25,635
up €25,635 (+30.2%), from €84,789 to €110,424
- Depreciation +€13,594
up €13,594 (+60.5%), from €22,470 to €36,064
- Other operating charges +€7,263
up €7,263 (+84.6%), from €8,588 to €15,851
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 | €262,597 | €271,741 | +€9,144 | +3.5% |
| Fixed assets | 21/28 | €93,457 | €118,444 | +€24,987 | +26.7% |
| Tangible fixed assets | 22/27 | €93,457 | €118,444 | +€24,987 | +26.7% |
| Furniture and vehicles | 24 | €93,457 | €118,444 | +€24,987 | +26.7% |
| Current assets | 29/58 | €169,141 | €153,297 | -€15,843 | -9.4% |
| Stocks and contracts in progress | 3 | €13,331 | €13,197 | -€134 | -1.0% |
| Stocks | 30/36 | €13,331 | €13,197 | -€134 | -1.0% |
| Amounts receivable within one year | 40/41 | €90,301 | €2,620 | -€87,680 | -97.1% |
| Trade receivables | 40 | €59,305 | - | -€59,305 | |
| Other amounts receivable | 41 | €30,995 | €2,620 | -€28,375 | -91.5% |
| Cash at bank and in hand | 54/58 | €63,713 | €136,066 | +€72,353 | +114% |
| Deferred charges and accrued income | 490/1 | €1,797 | €1,414 | -€382 | -21.3% |
| Total equity and liabilities | 10/49 | €262,597 | €271,741 | +€9,144 | +3.5% |
| Equity | 10/15 | €173,060 | €213,759 | +€40,699 | +23.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,200 | €1,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,200 | €1,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,200 | €1,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €159,460 | €200,159 | +€40,699 | +25.5% |
| Amounts payable | 17/49 | €89,538 | €57,982 | -€31,556 | -35.2% |
| Amounts payable after more than one year | 17 | - | €24,959 | +€24,959 | |
| Financial debts | 170/4 | - | €24,959 | +€24,959 | |
| Amounts payable within one year | 42/48 | €89,538 | €33,023 | -€56,515 | -63.1% |
| Current portion of amounts payable after more than one year | 42 | - | €9,614 | +€9,614 | |
| Trade debts | 44 | €41,725 | €18,563 | -€23,162 | -55.5% |
| Suppliers | 440/4 | €41,725 | €18,563 | -€23,162 | -55.5% |
| Taxes, remuneration and social security | 45 | €39,412 | €4,845 | -€34,568 | -87.7% |
| Taxes | 450/3 | €39,412 | €4,845 | -€34,568 | -87.7% |
| Other amounts payable | 47/48 | €8,400 | - | -€8,400 | |
| Remuneration, social security and pensions | 62 | €517 | - | -€517 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,470 | €36,064 | +€13,594 | +60.5% |
| Other operating charges | 640/8 | €8,588 | €15,851 | +€7,263 | +84.6% |
| Non-recurring operating charges | 66A | €1,210 | - | -€1,210 | |
| Gross operating margin | 9900 | €84,789 | €110,424 | +€25,635 | +30.2% |
| Operating profit (loss) | 9901 | €52,004 | €58,509 | +€6,505 | +12.5% |
| Financial charges | 65/66B | €2,380 | €3,135 | +€755 | +31.7% |
| Recurring financial charges | 65 | €2,380 | €3,135 | +€755 | +31.7% |
| Profit (loss) for the period before taxes | 9903 | €49,624 | €55,374 | +€5,750 | +11.6% |
| Income taxes | 67/77 | €14,028 | €14,675 | +€647 | +4.6% |
| Profit (loss) for the period | 9904 | €35,596 | €40,699 | +€5,103 | +14.3% |
| Profit (loss) for the period to be appropriated | 9905 | €35,596 | €40,699 | +€5,103 | +14.3% |
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 24 October 2026 via checked.be.