DR J. DE WAN: 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.
DR J. DE WAN
Largest movements
- Tangible fixed assets +€124,120
up €124,120 (+3,661%), from €3,390 to €127,510
of which Furniture and vehicles: +€125,607
- Cash -€78,460
down €78,460 (-19.2%), from €408,418 to €329,958
mainly Investment in fixed assets (net) (-€135,603) and Tax, wage and social debts (-€4,865)
- Reserves +€33,331
up €33,331 (+8.3%), from €401,887 to €435,218
of which Distributable reserves: +€33,331
- Other debts +€15,707
up €15,707 (+136%), from €11,557 to €27,264
- Trade debts +€5,345
up €5,345 (+370%), from €1,443 to €6,788
- Depreciation +€9,590
up €9,590 (+507%), from €1,893 to €11,483
- Gross operating margin +€3,341
up €3,341 (+6.0%), from €56,144 to €59,485
- Taxes -€2,414
down €2,414 (-14.7%), from €16,450 to €14,036
- Financial income -€1,565
down €1,565 (-67.7%), from €2,312 to €747
- Other operating charges -€798
down €798 (-51.7%), from €1,545 to €747
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 | €484,813 | €532,693 | +€47,880 | +9.9% |
| Fixed assets | 21/28 | €4,008 | €128,128 | +€124,120 | +3,097% |
| Tangible fixed assets | 22/27 | €3,390 | €127,510 | +€124,120 | +3,661% |
| Plant, machinery and equipment | 23 | €3,390 | €1,903 | -€1,487 | -43.9% |
| Furniture and vehicles | 24 | - | €125,607 | +€125,607 | |
| Financial fixed assets | 28 | €618 | €618 | = | 0.0% |
| Current assets | 29/58 | €480,805 | €404,565 | -€76,240 | -15.9% |
| Cash at bank and in hand | 54/58 | €408,418 | €329,958 | -€78,460 | -19.2% |
| Deferred charges and accrued income | 490/1 | €72,387 | €74,607 | +€2,220 | +3.1% |
| Total equity and liabilities | 10/49 | €484,813 | €532,693 | +€47,880 | +9.9% |
| Equity | 10/15 | €458,658 | €491,989 | +€33,331 | +7.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €401,887 | €435,218 | +€33,331 | +8.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €400,027 | €433,358 | +€33,331 | +8.3% |
| Profit (loss) carried forward | 14 | €38,171 | €38,171 | = | 0.0% |
| Amounts payable | 17/49 | €26,155 | €40,704 | +€14,549 | +55.6% |
| Amounts payable within one year | 42/48 | €26,063 | €40,704 | +€14,641 | +56.2% |
| Current portion of amounts payable after more than one year | 42 | €2,909 | €1,363 | -€1,546 | -53.1% |
| Trade debts | 44 | €1,443 | €6,788 | +€5,345 | +370% |
| Suppliers | 440/4 | €1,443 | €6,788 | +€5,345 | +370% |
| Taxes, remuneration and social security | 45 | €10,154 | €5,289 | -€4,865 | -47.9% |
| Taxes | 450/3 | €6,854 | €549 | -€6,305 | -92.0% |
| Remuneration and social security | 454/9 | €3,300 | €4,740 | +€1,440 | +43.6% |
| Other amounts payable | 47/48 | €11,557 | €27,264 | +€15,707 | +136% |
| Accrued charges and deferred income | 492/3 | €92 | - | -€92 | |
| Non-recurring operating income | 76A | - | €2,100 | +€2,100 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,893 | €11,483 | +€9,590 | +507% |
| Other operating charges | 640/8 | €1,545 | €747 | -€798 | -51.7% |
| Gross operating margin | 9900 | €56,144 | €59,485 | +€3,341 | +6.0% |
| Operating profit (loss) | 9901 | €52,706 | €47,255 | -€5,451 | -10.3% |
| Financial income | 75/76B | €2,312 | €747 | -€1,565 | -67.7% |
| Recurring financial income | 75 | €2,312 | €747 | -€1,565 | -67.7% |
| Financial charges | 65/66B | €659 | €635 | -€24 | -3.6% |
| Recurring financial charges | 65 | €659 | €635 | -€24 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €54,359 | €47,367 | -€6,992 | -12.9% |
| Income taxes | 67/77 | €16,450 | €14,036 | -€2,414 | -14.7% |
| Profit (loss) for the period | 9904 | €37,909 | €33,331 | -€4,578 | -12.1% |
| Profit (loss) for the period to be appropriated | 9905 | €37,909 | €33,331 | -€4,578 | -12.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.