GROUP-DN: 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.
GROUP-DN
Largest movements
- Receivables within one year -€208,219
down €208,219 (-85.7%), from €243,011 to €34,792
of which Other amounts receivable: -€146,745
- Cash +€205,267
up €205,267 (+693.1%), from €29,614 to €234,881
mainly Receivables within one year (+€208,219) and Net result for the year (+€90,281)
- Tangible fixed assets +€44,000
new in 2025: €44,000
- Receivables after one year -€22,174
no longer reported in 2025 (was €22,174)
- Other debts +€39,420
up €39,420 (+63.5%), from €62,116 to €101,536
- Trade debts -€34,214
down €34,214 (-13.7%), from €250,242 to €216,028
- Tax, wage and social debts +€14,504
up €14,504 (+78612.6%), from €18 to €14,522
- Write-downs -€73,254
no longer reported in 2025 (was €73,254)
- Gross operating margin -€32,987
down €32,987 (-25.0%), from €131,854 to €98,867
- Financial income -€6,421
down €6,421 (-92.9%), from €6,909 to €488
- Depreciation +€4,000
new in 2025: €4,000
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 | €732,810 | €753,316 | +€20,506 | +2.8% |
| Fixed assets | 21/28 | €438,011 | €483,643 | +€45,632 | +10.4% |
| Tangible fixed assets | 22/27 | - | €44,000 | +€44,000 | |
| Furniture and vehicles | 24 | - | €44,000 | +€44,000 | |
| Financial fixed assets | 28 | €438,011 | €439,643 | +€1,632 | +0.4% |
| Current assets | 29/58 | €294,799 | €269,673 | -€25,126 | -8.5% |
| Amounts receivable after more than one year | 29 | €22,174 | - | -€22,174 | |
| Other amounts receivable | 291 | €22,174 | - | -€22,174 | |
| Amounts receivable within one year | 40/41 | €243,011 | €34,792 | -€208,219 | -85.7% |
| Trade receivables | 40 | €76,639 | €15,165 | -€61,474 | -80.2% |
| Other amounts receivable | 41 | €166,372 | €19,627 | -€146,745 | -88.2% |
| Cash at bank and in hand | 54/58 | €29,614 | €234,881 | +€205,267 | +693.1% |
| Total equity and liabilities | 10/49 | €732,810 | €753,316 | +€20,506 | +2.8% |
| Equity | 10/15 | €6,371 | €6,652 | +€281 | +4.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €171 | €452 | +€281 | +164.2% |
| Amounts payable | 17/49 | €726,439 | €746,664 | +€20,225 | +2.8% |
| Amounts payable after more than one year | 17 | €414,063 | €414,063 | = | 0.0% |
| Other amounts payable | 178/9 | €414,063 | €414,063 | = | 0.0% |
| Amounts payable within one year | 42/48 | €312,376 | €332,086 | +€19,710 | +6.3% |
| Trade debts | 44 | €250,242 | €216,028 | -€34,214 | -13.7% |
| Suppliers | 440/4 | €250,242 | €216,028 | -€34,214 | -13.7% |
| Taxes, remuneration and social security | 45 | €18 | €14,522 | +€14,504 | +78612.6% |
| Taxes | 450/3 | €18 | €14,522 | +€14,504 | +78612.6% |
| Other amounts payable | 47/48 | €62,116 | €101,536 | +€39,420 | +63.5% |
| Accrued charges and deferred income | 492/3 | - | €515 | +€515 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €4,000 | +€4,000 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €73,254 | - | -€73,254 | |
| Other operating charges | 640/8 | €1,715 | €1,261 | -€454 | -26.5% |
| Gross operating margin | 9900 | €131,854 | €98,867 | -€32,987 | -25.0% |
| Operating profit (loss) | 9901 | €56,884 | €93,606 | +€36,721 | +64.6% |
| Financial income | 75/76B | €6,909 | €488 | -€6,421 | -92.9% |
| Recurring financial income | 75 | €6,909 | €488 | -€6,421 | -92.9% |
| Financial charges | 65/66B | €273 | €521 | +€248 | +90.8% |
| Recurring financial charges | 65 | €273 | €521 | +€248 | +90.8% |
| Profit (loss) for the period before taxes | 9903 | €63,521 | €93,573 | +€30,052 | +47.3% |
| Income taxes | 67/77 | €3,397 | €3,291 | -€105 | -3.1% |
| Profit (loss) for the period | 9904 | €60,124 | €90,281 | +€30,157 | +50.2% |
| Profit (loss) for the period to be appropriated | 9905 | €60,124 | €90,281 | +€30,157 | +50.2% |
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 5 October 2026 via checked.be.