Firmin L. DETHIER: 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.
Firmin L. DETHIER
Largest movements
- Tangible fixed assets -€24,187
down €24,187 (-12.4%), from €194,971 to €170,784
of which Land and buildings: -€12,695
- Receivables within one year -€11,838
down €11,838 (-31.7%), from €37,337 to €25,498
of which Other amounts receivable: -€13,060
- Cash -€5,883
down €5,883 (-48.5%), from €12,136 to €6,253
mainly Net result for the year (-€18,277) and Trade debts (-€15,208)
- Profit (loss) carried forward -€18,277
down €18,277, from €306 to -€17,970
- Trade debts -€15,208
down €15,208 (-86.3%), from €17,618 to €2,410
- Other debts -€4,625
down €4,625 (-3.0%), from €155,693 to €151,068
- Debts after one year -€4,095
down €4,095 (-62.9%), from €6,515 to €2,420
- Gross operating margin -€11,167
down €11,167 (-52.9%), from €21,091 to €9,924
- Other operating charges +€1,461
up €1,461 (+69.3%), from €2,108 to €3,570
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 | €254,540 | €211,132 | -€43,407 | -17.1% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €195,056 | €170,869 | -€24,187 | -12.4% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €194,971 | €170,784 | -€24,187 | -12.4% |
| Land and buildings | 22 | €174,257 | €161,562 | -€12,695 | -7.3% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €20,714 | €9,222 | -€11,492 | -55.5% |
| Financial fixed assets | 28 | €85 | €85 | = | 0.0% |
| Current assets | 29/58 | €59,484 | €40,263 | -€19,220 | -32.3% |
| Amounts receivable within one year | 40/41 | €37,337 | €25,498 | -€11,838 | -31.7% |
| Trade receivables | 40 | €7,107 | €8,328 | +€1,222 | +17.2% |
| Other amounts receivable | 41 | €30,230 | €17,170 | -€13,060 | -43.2% |
| Cash at bank and in hand | 54/58 | €12,136 | €6,253 | -€5,883 | -48.5% |
| Deferred charges and accrued income | 490/1 | €10,011 | €8,512 | -€1,499 | -15.0% |
| Total equity and liabilities | 10/49 | €254,540 | €211,132 | -€43,407 | -17.1% |
| Equity | 10/15 | €68,477 | €50,200 | -€18,277 | -26.7% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | €306 | -€17,970 | -€18,277 | |
| Amounts payable | 17/49 | €186,062 | €160,932 | -€25,131 | -13.5% |
| Amounts payable after more than one year | 17 | €6,515 | €2,420 | -€4,095 | -62.9% |
| Financial debts | 170/4 | €6,515 | €2,420 | -€4,095 | -62.9% |
| Amounts payable within one year | 42/48 | €179,547 | €158,511 | -€21,036 | -11.7% |
| Current portion of amounts payable after more than one year | 42 | €4,027 | €4,095 | +€68 | +1.7% |
| Financial debts | 43 | €60 | €34 | -€26 | -43.9% |
| Credit institutions | 430/8 | €60 | €34 | -€26 | -43.9% |
| Trade debts | 44 | €17,618 | €2,410 | -€15,208 | -86.3% |
| Suppliers | 440/4 | €17,618 | €2,410 | -€15,208 | -86.3% |
| Taxes, remuneration and social security | 45 | €2,149 | €905 | -€1,244 | -57.9% |
| Taxes | 450/3 | €2,149 | €905 | -€1,244 | -57.9% |
| Other amounts payable | 47/48 | €155,693 | €151,068 | -€4,625 | -3.0% |
| Turnover | 70 | €0 | €0 | = | |
| Non-recurring operating income | 76A | €0 | - | -€0 | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,299 | €24,187 | -€112 | -0.5% |
| Other operating charges | 640/8 | €2,108 | €3,570 | +€1,461 | +69.3% |
| Gross operating margin | 9900 | €21,091 | €9,924 | -€11,167 | -52.9% |
| Operating profit (loss) | 9901 | -€5,317 | -€17,833 | -€12,516 | -235% |
| Financial charges | 65/66B | €503 | €444 | -€59 | -11.8% |
| Recurring financial charges | 65 | €503 | €444 | -€59 | -11.8% |
| Non-recurring financial charges | 66B | €0 | €0 | +€0 | |
| Profit (loss) for the period before taxes | 9903 | -€5,820 | -€18,277 | -€12,457 | -214% |
| Profit (loss) for the period | 9904 | -€5,820 | -€18,277 | -€12,457 | -214% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,820 | -€18,277 | -€12,457 | -214% |
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 1 November 2026 via checked.be.