DPO: 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.
DPO
Largest movements
- Current investments +€150,000
up €150,000 (+214.3%), from €70,000 to €220,000
- Receivables within one year -€72,065
no longer reported in 2025 (was €72,065)
- Tangible fixed assets -€24,488
down €24,488 (-7.4%), from €331,161 to €306,673
- Cash -€20,174
down €20,174 (-70.2%), from €28,731 to €8,557
mainly Current investments (-€150,000) and Trade debts (-€4,872)
- Reserves +€37,185
up €37,185 (+12.3%), from €303,283 to €340,468
of which Distributable reserves: +€37,185
- Gross operating margin +€27,895
up €27,895 (+31.2%), from €89,347 to €117,243
- Taxes +€7,298
up €7,298 (+72.6%), from €10,055 to €17,353
- Financial income -€3,228
down €3,228 (-61.0%), from €5,290 to €2,061
- Other operating charges +€1,919
up €1,919 (+5.0%), from €38,099 to €40,017
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 | €511,393 | €541,914 | +€30,521 | +6.0% |
| Fixed assets | 21/28 | €331,161 | €306,673 | -€24,488 | -7.4% |
| Tangible fixed assets | 22/27 | €331,161 | €306,673 | -€24,488 | -7.4% |
| Land and buildings | 22 | €331,161 | €306,673 | -€24,488 | -7.4% |
| Current assets | 29/58 | €180,232 | €235,241 | +€55,009 | +30.5% |
| Amounts receivable within one year | 40/41 | €72,065 | - | -€72,065 | |
| Other amounts receivable | 41 | €72,065 | - | -€72,065 | |
| Current investments | 50/53 | €70,000 | €220,000 | +€150,000 | +214.3% |
| Cash at bank and in hand | 54/58 | €28,731 | €8,557 | -€20,174 | -70.2% |
| Deferred charges and accrued income | 490/1 | €9,437 | €6,685 | -€2,753 | -29.2% |
| Total equity and liabilities | 10/49 | €511,393 | €541,914 | +€30,521 | +6.0% |
| Equity | 10/15 | €499,800 | €536,985 | +€37,185 | +7.4% |
| Contributions | 10/11 | €196,408 | €196,408 | = | 0.0% |
| Capital | 10 | €196,408 | €196,408 | = | 0.0% |
| Issued capital | 100 | €196,408 | €196,408 | = | 0.0% |
| Reserves | 13 | €303,283 | €340,468 | +€37,185 | +12.3% |
| Non-distributable reserves | 130/1 | €19,641 | €19,641 | = | 0.0% |
| Legal reserve | 130 | €19,641 | €19,641 | = | 0.0% |
| Distributable reserves | 133 | €283,642 | €320,827 | +€37,185 | +13.1% |
| Profit (loss) carried forward | 14 | €110 | €110 | = | 0.0% |
| Amounts payable | 17/49 | €11,593 | €4,929 | -€6,664 | -57.5% |
| Amounts payable within one year | 42/48 | €10,253 | €4,134 | -€6,119 | -59.7% |
| Trade debts | 44 | €7,553 | €2,681 | -€4,872 | -64.5% |
| Suppliers | 440/4 | €7,553 | €2,681 | -€4,872 | -64.5% |
| Taxes, remuneration and social security | 45 | €2,700 | €1,453 | -€1,247 | -46.2% |
| Taxes | 450/3 | - | €1,453 | +€1,453 | |
| Remuneration and social security | 454/9 | €2,700 | - | -€2,700 | |
| Accrued charges and deferred income | 492/3 | €1,339 | €795 | -€544 | -40.6% |
| Non-recurring operating income | 76A | - | €3,900 | +€3,900 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,488 | €24,488 | = | 0.0% |
| Other operating charges | 640/8 | €38,099 | €40,017 | +€1,919 | +5.0% |
| Gross operating margin | 9900 | €89,347 | €117,243 | +€27,895 | +31.2% |
| Operating profit (loss) | 9901 | €26,760 | €52,737 | +€25,977 | +97.1% |
| Financial income | 75/76B | €5,290 | €2,061 | -€3,228 | -61.0% |
| Recurring financial income | 75 | €5,290 | €2,061 | -€3,228 | -61.0% |
| Financial charges | 65/66B | €450 | €261 | -€189 | -42.0% |
| Recurring financial charges | 65 | €450 | €261 | -€189 | -42.0% |
| Profit (loss) for the period before taxes | 9903 | €31,600 | €54,538 | +€22,938 | +72.6% |
| Income taxes | 67/77 | €10,055 | €17,353 | +€7,298 | +72.6% |
| Profit (loss) for the period | 9904 | €21,545 | €37,185 | +€15,640 | +72.6% |
| Profit (loss) for the period to be appropriated | 9905 | €21,545 | €37,185 | +€15,640 | +72.6% |
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.