DQ: 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.
DQ
Largest movements
- Tangible fixed assets -€74,814
down €74,814 (-26.0%), from €287,557 to €212,742
- Cash +€23,494
up €23,494 (+470.7%), from €4,991 to €28,485
mainly Investment in fixed assets (net) (+€68,651) and Net result for the year (+€53,297)
- Receivables within one year +€14,006
up €14,006 (+595.9%), from €2,350 to €16,356
of which Other amounts receivable: +€16,086
- Other debts -€79,607
down €79,607 (-58.1%), from €137,130 to €57,523
- Reserves +€53,297
new in 2025: €53,297
- Debts after one year -€19,603
down €19,603 (-12.9%), from €152,224 to €132,622
- Tax, wage and social debts +€13,723
new in 2025: €13,723
- Advances received -€3,104
down €3,104 (-100.0%), from €3,104 to €0
- Gross operating margin +€60,439
up €60,439 (+333.5%), from €18,123 to €78,562
- Taxes +€10,559
up €10,559 (+340.9%), from €3,097 to €13,656
- Depreciation -€3,526
down €3,526 (-36.4%), from €9,689 to €6,163
- Other operating charges -€996
down €996 (-32.6%), from €3,056 to €2,060
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 | €295,251 | €258,439 | -€36,812 | -12.5% |
| Fixed assets | 21/28 | €287,557 | €212,742 | -€74,814 | -26.0% |
| Tangible fixed assets | 22/27 | €287,557 | €212,742 | -€74,814 | -26.0% |
| Land and buildings | 22 | €287,557 | €212,742 | -€74,814 | -26.0% |
| Current assets | 29/58 | €7,695 | €45,697 | +€38,002 | +493.9% |
| Amounts receivable within one year | 40/41 | €2,350 | €16,356 | +€14,006 | +595.9% |
| Trade receivables | 40 | €2,080 | €0 | -€2,080 | -100.0% |
| Other amounts receivable | 41 | €270 | €16,356 | +€16,086 | +5952.2% |
| Cash at bank and in hand | 54/58 | €4,991 | €28,485 | +€23,494 | +470.7% |
| Deferred charges and accrued income | 490/1 | €353 | €856 | +€503 | +142.5% |
| Total equity and liabilities | 10/49 | €295,251 | €258,439 | -€36,812 | -12.5% |
| Equity | 10/15 | -€18,784 | €34,513 | +€53,297 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €53,297 | +€53,297 | |
| Distributable reserves | 133 | - | €53,297 | +€53,297 | |
| Profit (loss) carried forward | 14 | -€37,384 | -€37,384 | = | 0.0% |
| Amounts payable | 17/49 | €314,036 | €223,926 | -€90,109 | -28.7% |
| Amounts payable after more than one year | 17 | €152,224 | €132,622 | -€19,603 | -12.9% |
| Financial debts | 170/4 | €152,224 | €132,622 | -€19,603 | -12.9% |
| Amounts payable within one year | 42/48 | €161,811 | €91,305 | -€70,506 | -43.6% |
| Current portion of amounts payable after more than one year | 42 | €20,273 | €19,603 | -€670 | -3.3% |
| Trade debts | 44 | €1,304 | €456 | -€848 | -65.0% |
| Suppliers | 440/4 | €1,304 | €456 | -€848 | -65.0% |
| Advances received on contracts in progress | 46 | €3,104 | €0 | -€3,104 | -100.0% |
| Taxes, remuneration and social security | 45 | - | €13,723 | +€13,723 | |
| Taxes | 450/3 | - | €13,723 | +€13,723 | |
| Other amounts payable | 47/48 | €137,130 | €57,523 | -€79,607 | -58.1% |
| Non-recurring operating income | 76A | - | €67,695 | +€67,695 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,689 | €6,163 | -€3,526 | -36.4% |
| Other operating charges | 640/8 | €3,056 | €2,060 | -€996 | -32.6% |
| Gross operating margin | 9900 | €18,123 | €78,562 | +€60,439 | +333.5% |
| Operating profit (loss) | 9901 | €5,379 | €70,339 | +€64,960 | +1207.7% |
| Financial income | 75/76B | €13 | €0 | -€13 | -100.0% |
| Recurring financial income | 75 | €13 | €0 | -€13 | -100.0% |
| Financial charges | 65/66B | €3,770 | €3,386 | -€384 | -10.2% |
| Recurring financial charges | 65 | €3,770 | €3,386 | -€384 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | €1,622 | €66,953 | +€65,331 | +4027.1% |
| Income taxes | 67/77 | €3,097 | €13,656 | +€10,559 | +340.9% |
| Profit (loss) for the period | 9904 | -€1,475 | €53,297 | +€54,772 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,475 | €53,297 | +€54,772 |
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 2 October 2026 via checked.be.