Ph. A.V. DEHON: 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.
Ph. A.V. DEHON
Largest movements
- Receivables within one year +€56,789
up €56,789 (+11.5%), from €493,572 to €550,361
of which Trade receivables: +€30,609
- Tangible fixed assets +€11,766
up €11,766 (+223%), from €5,281 to €17,048
of which Land and buildings: +€11,017
- Profit (loss) carried forward +€34,653
up €34,653 (+8.9%), from €390,286 to €424,938
- Reserves +€30,000
up €30,000 (+29.9%), from €100,209 to €130,209
- Gross operating margin +€61,162
up €61,162 (+174%), from €35,121 to €96,282
- Taxes +€15,088
up €15,088 (+116%), from €12,954 to €28,042
- Other operating charges +€5,366
up €5,366 (+388%), from €1,384 to €6,750
- Financial income +€1,329
up €1,329 (+30.6%), from €4,346 to €5,675
- Depreciation +€1,154
up €1,154 (+309%), from €373 to €1,527
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 | €539,127 | €610,576 | +€71,449 | +13.3% |
| Fixed assets | 21/28 | €5,281 | €17,048 | +€11,766 | +223% |
| Tangible fixed assets | 22/27 | €5,281 | €17,048 | +€11,766 | +223% |
| Land and buildings | 22 | €1,035 | €12,052 | +€11,017 | +1,064% |
| Plant, machinery and equipment | 23 | €1,321 | €875 | -€446 | -33.8% |
| Furniture and vehicles | 24 | €2,925 | €4,120 | +€1,195 | +40.9% |
| Current assets | 29/58 | €533,845 | €593,528 | +€59,683 | +11.2% |
| Amounts receivable within one year | 40/41 | €493,572 | €550,361 | +€56,789 | +11.5% |
| Trade receivables | 40 | €2,872 | €33,481 | +€30,609 | +1,066% |
| Other amounts receivable | 41 | €490,701 | €516,880 | +€26,180 | +5.3% |
| Cash at bank and in hand | 54/58 | €40,273 | €42,711 | +€2,438 | +6.1% |
| Deferred charges and accrued income | 490/1 | - | €455 | +€455 | |
| Total equity and liabilities | 10/49 | €539,127 | €610,576 | +€71,449 | +13.3% |
| Equity | 10/15 | €496,692 | €561,345 | +€64,653 | +13.0% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €100,209 | €130,209 | +€30,000 | +29.9% |
| Distributable reserves | 133 | €100,209 | €130,209 | +€30,000 | +29.9% |
| Profit (loss) carried forward | 14 | €390,286 | €424,938 | +€34,653 | +8.9% |
| Amounts payable | 17/49 | €42,435 | €49,231 | +€6,796 | +16.0% |
| Amounts payable after more than one year | 17 | €850 | - | -€850 | |
| Financial debts | 170/4 | €850 | - | -€850 | |
| Amounts payable within one year | 42/48 | €41,584 | €44,231 | +€2,647 | +6.4% |
| Current portion of amounts payable after more than one year | 42 | - | €752 | +€752 | |
| Financial debts | 43 | €4 | - | -€4 | |
| Credit institutions | 430/8 | €4 | - | -€4 | |
| Trade debts | 44 | €23,531 | €22,045 | -€1,486 | -6.3% |
| Suppliers | 440/4 | €23,531 | €22,045 | -€1,486 | -6.3% |
| Taxes, remuneration and social security | 45 | €18,049 | €21,434 | +€3,385 | +18.8% |
| Taxes | 450/3 | €18,049 | €21,434 | +€3,385 | +18.8% |
| Accrued charges and deferred income | 492/3 | - | €5,000 | +€5,000 | |
| Non-recurring operating income | 76A | €3,750 | - | -€3,750 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €373 | €1,527 | +€1,154 | +309% |
| Other operating charges | 640/8 | €1,384 | €6,750 | +€5,366 | +388% |
| Gross operating margin | 9900 | €35,121 | €96,282 | +€61,162 | +174% |
| Operating profit (loss) | 9901 | €33,363 | €88,005 | +€54,642 | +164% |
| Financial income | 75/76B | €4,346 | €5,675 | +€1,329 | +30.6% |
| Recurring financial income | 75 | €4,346 | €5,675 | +€1,329 | +30.6% |
| Financial charges | 65/66B | €839 | €986 | +€147 | +17.5% |
| Recurring financial charges | 65 | €839 | €986 | +€147 | +17.5% |
| Profit (loss) for the period before taxes | 9903 | €36,870 | €92,694 | +€55,824 | +151% |
| Income taxes | 67/77 | €12,954 | €28,042 | +€15,088 | +116% |
| Profit (loss) for the period | 9904 | €23,916 | €64,653 | +€40,737 | +170% |
| Profit (loss) for the period to be appropriated | 9905 | €23,916 | €64,653 | +€40,737 | +170% |
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 18 October 2026 via checked.be.