DR SYNDIC: 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 SYNDIC
Largest movements
- Cash +€241,943
up €241,943 (+183.7%), from €131,710 to €373,653
mainly Current investments (+€151,237) and Net result for the year (+€89,228)
- Current investments -€151,237
no longer reported in 2025 (was €151,237)
- Receivables within one year -€19,820
down €19,820 (-30.9%), from €64,175 to €44,356
of which Trade receivables: -€22,028
- Profit (loss) carried forward +€89,228
up €89,228 (+33.8%), from €263,676 to €352,904
- Tax, wage and social debts -€26,372
down €26,372 (-55.7%), from €47,358 to €20,986
of which Taxes: -€16,616
- Trade debts +€8,884
up €8,884 (+54.7%), from €16,233 to €25,116
- Gross operating margin +€52,654
up €52,654 (+13.8%), from €380,988 to €433,642
- Staff costs +€12,702
up €12,702 (+4.3%), from €294,750 to €307,452
- Taxes +€10,662
up €10,662 (+48.5%), from €21,983 to €32,645
- Financial income -€4,883
down €4,883 (-80.3%), from €6,079 to €1,196
- Other operating charges -€4,724
down €4,724 (-64.4%), from €7,337 to €2,613
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 | €351,109 | €422,721 | +€71,611 | +20.4% |
| Formation expenses | 20 | €4 | - | -€4 | |
| Fixed assets | 21/28 | €3,396 | €1,863 | -€1,533 | -45.2% |
| Intangible fixed assets | 21 | €488 | €192 | -€296 | -60.7% |
| Tangible fixed assets | 22/27 | €2,908 | €1,671 | -€1,237 | -42.5% |
| Furniture and vehicles | 24 | €2,908 | €1,671 | -€1,237 | -42.5% |
| Current assets | 29/58 | €347,709 | €420,858 | +€73,149 | +21.0% |
| Amounts receivable within one year | 40/41 | €64,175 | €44,356 | -€19,820 | -30.9% |
| Trade receivables | 40 | €52,670 | €30,642 | -€22,028 | -41.8% |
| Other amounts receivable | 41 | €11,505 | €13,714 | +€2,209 | +19.2% |
| Current investments | 50/53 | €151,237 | - | -€151,237 | |
| Cash at bank and in hand | 54/58 | €131,710 | €373,653 | +€241,943 | +183.7% |
| Deferred charges and accrued income | 490/1 | €587 | €2,850 | +€2,262 | +385.1% |
| Total equity and liabilities | 10/49 | €351,109 | €422,721 | +€71,611 | +20.4% |
| Equity | 10/15 | €268,676 | €357,904 | +€89,228 | +33.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €263,676 | €352,904 | +€89,228 | +33.8% |
| Amounts payable | 17/49 | €82,434 | €64,817 | -€17,617 | -21.4% |
| Amounts payable within one year | 42/48 | €81,734 | €64,104 | -€17,630 | -21.6% |
| Trade debts | 44 | €16,233 | €25,116 | +€8,884 | +54.7% |
| Suppliers | 440/4 | €16,233 | €25,116 | +€8,884 | +54.7% |
| Taxes, remuneration and social security | 45 | €47,358 | €20,986 | -€26,372 | -55.7% |
| Taxes | 450/3 | €16,983 | €367 | -€16,616 | -97.8% |
| Remuneration and social security | 454/9 | €30,375 | €20,619 | -€9,756 | -32.1% |
| Other amounts payable | 47/48 | €18,143 | €18,001 | -€142 | -0.8% |
| Accrued charges and deferred income | 492/3 | €700 | €713 | +€13 | +1.9% |
| Remuneration, social security and pensions | 62 | €294,750 | €307,452 | +€12,702 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,705 | €1,538 | -€1,167 | -43.1% |
| Other operating charges | 640/8 | €7,337 | €2,613 | -€4,724 | -64.4% |
| Gross operating margin | 9900 | €380,988 | €433,642 | +€52,654 | +13.8% |
| Operating profit (loss) | 9901 | €76,197 | €122,039 | +€45,843 | +60.2% |
| Financial income | 75/76B | €6,079 | €1,196 | -€4,883 | -80.3% |
| Recurring financial income | 75 | €6,079 | €1,196 | -€4,883 | -80.3% |
| Financial charges | 65/66B | €1,097 | €1,362 | +€265 | +24.2% |
| Recurring financial charges | 65 | €1,097 | €1,362 | +€265 | +24.2% |
| Profit (loss) for the period before taxes | 9903 | €81,179 | €121,873 | +€40,694 | +50.1% |
| Income taxes | 67/77 | €21,983 | €32,645 | +€10,662 | +48.5% |
| Profit (loss) for the period | 9904 | €59,196 | €89,228 | +€30,033 | +50.7% |
| Profit (loss) for the period to be appropriated | 9905 | €59,196 | €89,228 | +€30,033 | +50.7% |
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.