DR MORTIER: 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.
DR MORTIER
Largest movements
- Financial fixed assets +€80,612
new in 2025: €80,612
- Cash -€71,478
down €71,478 (-52.5%), from €136,230 to €64,751
mainly Contributions, distributions and other (-€419,033) and Investment in fixed assets (net) (-€82,594)
- Deferred charges and accrued income +€46,388
up €46,388 (+59.7%), from €77,691 to €124,078
- Tangible fixed assets -€19,744
down €19,744 (-35.2%), from €56,018 to €36,274
of which Furniture and vehicles: -€19,886
- Current investments -€18,000
down €18,000 (-16.8%), from €107,104 to €89,104
- Other debts +€256,075
up €256,075 (+293.4%), from €87,291 to €343,366
- Profit (loss) carried forward -€228,835
no longer reported in 2025 (was €228,835)
- Debts after one year -€13,171
down €13,171 (-36.1%), from €36,497 to €23,326
- Gross operating margin +€111,620
up €111,620 (+66.6%), from €167,501 to €279,122
- Taxes +€32,865
up €32,865 (+104.0%), from €31,616 to €64,481
- Financial income -€3,725
down €3,725 (-62.6%), from €5,955 to €2,230
of which Non-recurring financial income: -€3,312
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 | €380,525 | €398,593 | +€18,067 | +4.7% |
| Fixed assets | 21/28 | €56,018 | €116,886 | +€60,868 | +108.7% |
| Tangible fixed assets | 22/27 | €56,018 | €36,274 | -€19,744 | -35.2% |
| Land and buildings | 22 | €2,177 | €2,319 | +€143 | +6.6% |
| Furniture and vehicles | 24 | €53,841 | €33,955 | -€19,886 | -36.9% |
| Financial fixed assets | 28 | - | €80,612 | +€80,612 | |
| Current assets | 29/58 | €324,508 | €281,707 | -€42,801 | -13.2% |
| Amounts receivable within one year | 40/41 | €3,483 | €3,773 | +€290 | +8.3% |
| Trade receivables | 40 | - | €290 | +€290 | |
| Other amounts receivable | 41 | €3,483 | €3,483 | = | 0.0% |
| Current investments | 50/53 | €107,104 | €89,104 | -€18,000 | -16.8% |
| Cash at bank and in hand | 54/58 | €136,230 | €64,751 | -€71,478 | -52.5% |
| Deferred charges and accrued income | 490/1 | €77,691 | €124,078 | +€46,388 | +59.7% |
| Total equity and liabilities | 10/49 | €380,525 | €398,593 | +€18,067 | +4.7% |
| Equity | 10/15 | €231,835 | €3,000 | -€228,835 | -98.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €228,835 | - | -€228,835 | |
| Amounts payable | 17/49 | €148,690 | €395,593 | +€246,903 | +166.1% |
| Amounts payable after more than one year | 17 | €36,497 | €23,326 | -€13,171 | -36.1% |
| Financial debts | 170/4 | €36,497 | €23,326 | -€13,171 | -36.1% |
| Amounts payable within one year | 42/48 | €111,758 | €371,832 | +€260,074 | +232.7% |
| Current portion of amounts payable after more than one year | 42 | €12,586 | €13,171 | +€585 | +4.6% |
| Taxes, remuneration and social security | 45 | €11,880 | €15,294 | +€3,414 | +28.7% |
| Taxes | 450/3 | €8,180 | €14,294 | +€6,114 | +74.7% |
| Remuneration and social security | 454/9 | €3,700 | €1,000 | -€2,700 | -73.0% |
| Other amounts payable | 47/48 | €87,291 | €343,366 | +€256,075 | +293.4% |
| Accrued charges and deferred income | 492/3 | €435 | €435 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,610 | €21,726 | +€117 | +0.5% |
| Other operating charges | 640/8 | €2,989 | €2,933 | -€56 | -1.9% |
| Gross operating margin | 9900 | €167,501 | €279,122 | +€111,620 | +66.6% |
| Operating profit (loss) | 9901 | €142,902 | €254,462 | +€111,560 | +78.1% |
| Financial income | 75/76B | €5,955 | €2,230 | -€3,725 | -62.6% |
| Recurring financial income | 75 | €2,643 | €2,230 | -€413 | -15.6% |
| Non-recurring financial income | 76B | €3,312 | - | -€3,312 | |
| Financial charges | 65/66B | €2,604 | €2,013 | -€592 | -22.7% |
| Recurring financial charges | 65 | €2,604 | €2,013 | -€592 | -22.7% |
| Profit (loss) for the period before taxes | 9903 | €146,253 | €254,679 | +€108,426 | +74.1% |
| Income taxes | 67/77 | €31,616 | €64,481 | +€32,865 | +104.0% |
| Profit (loss) for the period | 9904 | €114,637 | €190,198 | +€75,561 | +65.9% |
| Profit (loss) for the period to be appropriated | 9905 | €114,637 | €190,198 | +€75,561 | +65.9% |
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 8 October 2026 via checked.be.