DToS: 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.
DToS
Largest movements
- Cash -€74,066
down €74,066 (-59.6%), from €124,274 to €50,208
mainly Net result for the year (-€49,614) and Current portion of long-term debt (-€20,611)
- Tangible fixed assets -€19,616
down €19,616 (-44.4%), from €44,132 to €24,516
of which Leasing and similar rights: -€15,898
- Stocks and contracts +€19,363
up €19,363 (+154%), from €12,545 to €31,909
of which Contracts in progress: +€16,240
- Receivables within one year +€3,391
up €3,391 (+4.1%), from €83,433 to €86,824
of which Trade receivables: +€5,068
- Profit (loss) carried forward -€49,614
down €49,614 (-161%), from -€30,842 to -€80,456
- Current portion of long-term debt -€20,611
no longer reported in 2025 (was €20,611)
- Other debts +€4,131
up €4,131 (+7.8%), from €53,287 to €57,417
- Trade debts -€3,552
down €3,552 (-69.9%), from €5,084 to €1,532
- Gross operating margin +€3,002
up €3,002 (+10.6%), from -€28,203 to -€25,201
- Depreciation -€2,764
down €2,764 (-11.9%), from €23,312 to €20,548
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 | €267,940 | €197,602 | -€70,338 | -26.3% |
| Fixed assets | 21/28 | €44,132 | €24,516 | -€19,616 | -44.4% |
| Tangible fixed assets | 22/27 | €44,132 | €24,516 | -€19,616 | -44.4% |
| Plant, machinery and equipment | 23 | €1,143 | €978 | -€166 | -14.5% |
| Furniture and vehicles | 24 | €7,625 | €4,988 | -€2,637 | -34.6% |
| Leasing and similar rights | 25 | €29,219 | €13,321 | -€15,898 | -54.4% |
| Other tangible fixed assets | 26 | €6,145 | €5,230 | -€915 | -14.9% |
| Current assets | 29/58 | €223,808 | €173,086 | -€50,722 | -22.7% |
| Stocks and contracts in progress | 3 | €12,545 | €31,909 | +€19,363 | +154% |
| Stocks | 30/36 | €12,545 | €15,669 | +€3,123 | +24.9% |
| Contracts in progress | 37 | - | €16,240 | +€16,240 | |
| Amounts receivable within one year | 40/41 | €83,433 | €86,824 | +€3,391 | +4.1% |
| Trade receivables | 40 | €81,756 | €86,824 | +€5,068 | +6.2% |
| Other amounts receivable | 41 | €1,677 | - | -€1,677 | |
| Cash at bank and in hand | 54/58 | €124,274 | €50,208 | -€74,066 | -59.6% |
| Deferred charges and accrued income | 490/1 | €3,556 | €4,145 | +€589 | +16.6% |
| Total equity and liabilities | 10/49 | €267,940 | €197,602 | -€70,338 | -26.3% |
| Equity | 10/15 | €186,128 | €136,513 | -€49,614 | -26.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €198,370 | €198,370 | = | 0.0% |
| 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 | €196,510 | €196,510 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,842 | -€80,456 | -€49,614 | -161% |
| Amounts payable | 17/49 | €81,812 | €61,089 | -€20,723 | -25.3% |
| Amounts payable within one year | 42/48 | €81,812 | €61,089 | -€20,723 | -25.3% |
| Current portion of amounts payable after more than one year | 42 | €20,611 | - | -€20,611 | |
| Trade debts | 44 | €5,084 | €1,532 | -€3,552 | -69.9% |
| Suppliers | 440/4 | €5,084 | €1,532 | -€3,552 | -69.9% |
| Taxes, remuneration and social security | 45 | €2,831 | €2,140 | -€691 | -24.4% |
| Taxes | 450/3 | €2,831 | €2,140 | -€691 | -24.4% |
| Other amounts payable | 47/48 | €53,287 | €57,417 | +€4,131 | +7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,312 | €20,548 | -€2,764 | -11.9% |
| Other operating charges | 640/8 | €2,868 | €2,675 | -€193 | -6.7% |
| Non-recurring operating charges | 66A | €29,524 | - | -€29,524 | |
| Gross operating margin | 9900 | -€28,203 | -€25,201 | +€3,002 | +10.6% |
| Operating profit (loss) | 9901 | -€83,908 | -€48,424 | +€35,483 | +42.3% |
| Financial income | 75/76B | €510 | €409 | -€101 | -19.8% |
| Recurring financial income | 75 | €510 | €409 | -€101 | -19.8% |
| Financial charges | 65/66B | €1,358 | €1,351 | -€7 | -0.5% |
| Recurring financial charges | 65 | €1,358 | €1,351 | -€7 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | -€84,755 | -€49,366 | +€35,389 | +41.8% |
| Income taxes | 67/77 | €275 | €248 | -€27 | -10.0% |
| Profit (loss) for the period | 9904 | -€85,030 | -€49,614 | +€35,416 | +41.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€85,030 | -€49,614 | +€35,416 | +41.7% |
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 16 October 2026 via checked.be.