T. DAMOISEAU: 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.
T. DAMOISEAU
Largest movements
- Cash -€30,172
down €30,172 (-97.9%), from €30,829 to €656
mainly Investment in fixed assets (net) (-€62,802) and Net result for the year (-€30,230)
- Receivables within one year +€16,271
up €16,271 (+64.3%), from €25,296 to €41,567
of which Trade receivables: +€18,963
- Intangible fixed assets -€15,000
down €15,000 (-46.2%), from €32,473 to €17,473
- Tangible fixed assets -€11,943
down €11,943 (-3.5%), from €343,303 to €331,359
of which Furniture and vehicles: -€58,464
- Profit (loss) carried forward -€30,230
down €30,230 (-452%), from -€6,684 to -€36,914
- Other debts -€15,036
down €15,036 (-15.9%), from €94,636 to €79,600
- Debts after one year -€10,414
down €10,414 (-5.3%), from €197,879 to €187,465
- Current portion of long-term debt +€8,494
up €8,494 (+18.3%), from €46,318 to €54,811
- Financial income -€95,274
down €95,274 (-84.0%), from €113,423 to €18,149
of which Non-recurring financial income: -€95,244
- Gross operating margin +€91,072
up €91,072 (+469%), from €19,420 to €110,492
- Depreciation +€23,101
up €23,101 (+34.7%), from €66,644 to €89,745
- Other operating charges +€3,791
up €3,791 (+115%), from €3,302 to €7,093
- Staff costs +€2,407
up €2,407 (+5.1%), from €47,263 to €49,670
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 | €444,691 | €404,691 | -€40,000 | -9.0% |
| Fixed assets | 21/28 | €375,776 | €348,833 | -€26,943 | -7.2% |
| Intangible fixed assets | 21 | €32,473 | €17,473 | -€15,000 | -46.2% |
| Tangible fixed assets | 22/27 | €343,303 | €331,359 | -€11,943 | -3.5% |
| Plant, machinery and equipment | 23 | €36,767 | €25,239 | -€11,528 | -31.4% |
| Furniture and vehicles | 24 | €306,536 | €248,072 | -€58,464 | -19.1% |
| Leasing and similar rights | 25 | - | €58,048 | +€58,048 | |
| Current assets | 29/58 | €68,915 | €55,859 | -€13,057 | -18.9% |
| Stocks and contracts in progress | 3 | €1,600 | €800 | -€800 | -50.0% |
| Stocks | 30/36 | €1,600 | €800 | -€800 | -50.0% |
| Amounts receivable within one year | 40/41 | €25,296 | €41,567 | +€16,271 | +64.3% |
| Trade receivables | 40 | €21,275 | €40,238 | +€18,963 | +89.1% |
| Other amounts receivable | 41 | €4,021 | €1,329 | -€2,692 | -67.0% |
| Cash at bank and in hand | 54/58 | €30,829 | €656 | -€30,172 | -97.9% |
| Deferred charges and accrued income | 490/1 | €11,191 | €12,835 | +€1,645 | +14.7% |
| Total equity and liabilities | 10/49 | €444,691 | €404,691 | -€40,000 | -9.0% |
| Equity | 10/15 | €94,316 | €64,086 | -€30,230 | -32.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €81,000 | €81,000 | = | 0.0% |
| Distributable reserves | 133 | €81,000 | €81,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,684 | -€36,914 | -€30,230 | -452% |
| Amounts payable | 17/49 | €350,375 | €340,605 | -€9,770 | -2.8% |
| Amounts payable after more than one year | 17 | €197,879 | €187,465 | -€10,414 | -5.3% |
| Financial debts | 170/4 | €197,879 | €187,465 | -€10,414 | -5.3% |
| Amounts payable within one year | 42/48 | €150,326 | €150,969 | +€643 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €46,318 | €54,811 | +€8,494 | +18.3% |
| Trade debts | 44 | €1,008 | €5,142 | +€4,134 | +410% |
| Suppliers | 440/4 | €1,008 | €5,142 | +€4,134 | +410% |
| Taxes, remuneration and social security | 45 | €8,365 | €11,415 | +€3,050 | +36.5% |
| Taxes | 450/3 | €5,216 | €9,946 | +€4,729 | +90.7% |
| Remuneration and social security | 454/9 | €3,148 | €1,470 | -€1,679 | -53.3% |
| Other amounts payable | 47/48 | €94,636 | €79,600 | -€15,036 | -15.9% |
| Accrued charges and deferred income | 492/3 | €2,170 | €2,171 | +€1 | +0.1% |
| Remuneration, social security and pensions | 62 | €47,263 | €49,670 | +€2,407 | +5.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,644 | €89,745 | +€23,101 | +34.7% |
| Other operating charges | 640/8 | €3,302 | €7,093 | +€3,791 | +115% |
| Gross operating margin | 9900 | €19,420 | €110,492 | +€91,072 | +469% |
| Operating profit (loss) | 9901 | -€97,788 | -€36,016 | +€61,772 | +63.2% |
| Financial income | 75/76B | €113,423 | €18,149 | -€95,274 | -84.0% |
| Recurring financial income | 75 | €166 | €135 | -€31 | -18.6% |
| Non-recurring financial income | 76B | €113,257 | €18,014 | -€95,244 | -84.1% |
| Financial charges | 65/66B | €14,204 | €12,025 | -€2,179 | -15.3% |
| Recurring financial charges | 65 | €13,401 | €12,025 | -€1,376 | -10.3% |
| Non-recurring financial charges | 66B | €803 | - | -€803 | |
| Profit (loss) for the period before taxes | 9903 | €1,431 | -€29,892 | -€31,323 | |
| Income taxes | 67/77 | €596 | €338 | -€258 | -43.3% |
| Profit (loss) for the period | 9904 | €835 | -€30,230 | -€31,065 | |
| Profit (loss) for the period to be appropriated | 9905 | €835 | -€30,230 | -€31,065 |
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 19 October 2026 via checked.be.