DT: 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.
DT
Largest movements
- Cash +€930,790
up €930,790 (+7664.0%), from €12,145 to €942,935
mainly Other debts (+€1.0m) and Net result for the year (+€382,166)
- Receivables within one year +€314,915
up €314,915 (+56.5%), from €557,647 to €872,562
of which Other amounts receivable: +€314,915
- Current investments +€115,810
up €115,810 (+1102.6%), from €10,504 to €126,314
- Other debts +€1.0m
up €1.0m (+52.2%), from €1.9m to €2.9m
- Contributions +€960,000
new in 2025: €960,000
- Debts after one year -€427,670
down €427,670 (-11.0%), from €3.9m to €3.5m
of which Financial debts: -€427,670
- Reserves -€210,834
down €210,834 (-47.5%), from €443,837 to €233,002
- Financial income -€1.8m
down €1.8m (-85.0%), from €2.1m to €315,465
- Financial charges -€49,778
down €49,778 (-32.5%), from €153,197 to €103,419
- Gross operating margin -€11,700
down €11,700 (-5.2%), from €225,011 to €213,310
- Taxes +€9,803
up €9,803 (+72.1%), from €13,606 to €23,408
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 | €6,670,891 | €8,013,611 | +€1.3m | +20.1% |
| Fixed assets | 21/28 | €6,089,098 | €6,071,800 | -€17,298 | -0.3% |
| Tangible fixed assets | 22/27 | €162,147 | €144,849 | -€17,298 | -10.7% |
| Land and buildings | 22 | €160,328 | €144,019 | -€16,309 | -10.2% |
| Furniture and vehicles | 24 | €1,819 | €830 | -€989 | -54.4% |
| Financial fixed assets | 28 | €5,926,951 | €5,926,951 | = | 0.0% |
| Current assets | 29/58 | €581,793 | €1,941,811 | +€1.4m | +233.8% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €557,647 | €872,562 | +€314,915 | +56.5% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €557,647 | €872,562 | +€314,915 | +56.5% |
| Current investments | 50/53 | €10,504 | €126,314 | +€115,810 | +1102.6% |
| Cash at bank and in hand | 54/58 | €12,145 | €942,935 | +€930,790 | +7664.0% |
| Deferred charges and accrued income | 490/1 | €1,498 | €0 | -€1,498 | -100.0% |
| Total equity and liabilities | 10/49 | €6,670,891 | €8,013,611 | +€1.3m | +20.1% |
| Equity | 10/15 | €443,837 | €1,193,002 | +€749,166 | +168.8% |
| Contributions | 10/11 | - | €960,000 | +€960,000 | |
| Reserves | 13 | €443,837 | €233,002 | -€210,834 | -47.5% |
| Distributable reserves | 133 | €443,837 | €233,002 | -€210,834 | -47.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €6,227,055 | €6,820,608 | +€593,553 | +9.5% |
| Amounts payable after more than one year | 17 | €3,886,567 | €3,458,897 | -€427,670 | -11.0% |
| Financial debts | 170/4 | €3,786,567 | €3,358,897 | -€427,670 | -11.3% |
| Other amounts payable | 178/9 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,340,488 | €3,361,711 | +€1.0m | +43.6% |
| Current portion of amounts payable after more than one year | 42 | €412,550 | €427,670 | +€15,120 | +3.7% |
| Trade debts | 44 | €2,615 | €1,823 | -€793 | -30.3% |
| Suppliers | 440/4 | €2,615 | €1,823 | -€793 | -30.3% |
| Taxes, remuneration and social security | 45 | €4,192 | €7,460 | +€3,268 | +77.9% |
| Taxes | 450/3 | €4,192 | €7,460 | +€3,268 | +77.9% |
| Other amounts payable | 47/48 | €1,921,131 | €2,924,759 | +€1.0m | +52.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,298 | €17,298 | -€0 | 0.0% |
| Other operating charges | 640/8 | €2,818 | €2,484 | -€334 | -11.9% |
| Gross operating margin | 9900 | €225,011 | €213,310 | -€11,700 | -5.2% |
| Operating profit (loss) | 9901 | €204,894 | €193,528 | -€11,366 | -5.5% |
| Financial income | 75/76B | €2,108,692 | €315,465 | -€1.8m | -85.0% |
| Recurring financial income | 75 | €2,108,692 | €315,465 | -€1.8m | -85.0% |
| Financial charges | 65/66B | €153,197 | €103,419 | -€49,778 | -32.5% |
| Recurring financial charges | 65 | €153,197 | €103,419 | -€49,778 | -32.5% |
| Profit (loss) for the period before taxes | 9903 | €2,160,389 | €405,574 | -€1.8m | -81.2% |
| Income taxes | 67/77 | €13,606 | €23,408 | +€9,803 | +72.1% |
| Profit (loss) for the period | 9904 | €2,146,783 | €382,166 | -€1.8m | -82.2% |
| Profit (loss) for the period to be appropriated | 9905 | €2,146,783 | €382,166 | -€1.8m | -82.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.