TO DHOES: 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.
TO DHOES
Largest movements
- Cash +€48,960
up €48,960 (+73.7%), from €66,409 to €115,368
mainly Net result for the year (+€55,471) and Current portion of long-term debt (+€19,896)
- Tangible fixed assets -€3,836
down €3,836 (-27.4%), from €13,996 to €10,161
- Reserves +€54,638
up €54,638 (+59.4%), from €91,913 to €146,551
- Debts after one year -€35,995
down €35,995 (-24.0%), from €150,000 to €114,005
- Current portion of long-term debt +€19,896
new in 2025: €19,896
- Tax, wage and social debts +€8,767
up €8,767 (+27.7%), from €31,638 to €40,405
- Gross operating margin -€63,715
down €63,715 (-49.7%), from €128,272 to €64,557
- Financial income +€18,800
up €18,800 (+2441581.8%), from €1 to €18,801
- Taxes -€11,808
down €11,808 (-43.3%), from €27,294 to €15,487
- Financial charges +€4,127
up €4,127 (+1291.5%), from €320 to €4,447
- Other operating charges +€1,387
up €1,387 (+50.8%), from €2,732 to €4,118
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 | €333,073 | €378,431 | +€45,357 | +13.6% |
| Fixed assets | 21/28 | €238,996 | €235,161 | -€3,836 | -1.6% |
| Tangible fixed assets | 22/27 | €13,996 | €10,161 | -€3,836 | -27.4% |
| Furniture and vehicles | 24 | €13,996 | €10,161 | -€3,836 | -27.4% |
| Financial fixed assets | 28 | €225,000 | €225,000 | = | 0.0% |
| Current assets | 29/58 | €94,077 | €143,270 | +€49,193 | +52.3% |
| Amounts receivable within one year | 40/41 | €25,102 | €26,613 | +€1,511 | +6.0% |
| Trade receivables | 40 | €25,050 | €26,613 | +€1,563 | +6.2% |
| Other amounts receivable | 41 | €52 | €0 | -€52 | -100.0% |
| Cash at bank and in hand | 54/58 | €66,409 | €115,368 | +€48,960 | +73.7% |
| Deferred charges and accrued income | 490/1 | €2,567 | €1,289 | -€1,278 | -49.8% |
| Total equity and liabilities | 10/49 | €333,073 | €378,431 | +€45,357 | +13.6% |
| Equity | 10/15 | €94,913 | €149,551 | +€54,638 | +57.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €91,913 | €146,551 | +€54,638 | +59.4% |
| Distributable reserves | 133 | €91,913 | €146,551 | +€54,638 | +59.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €238,160 | €228,879 | -€9,281 | -3.9% |
| Amounts payable after more than one year | 17 | €150,000 | €114,005 | -€35,995 | -24.0% |
| Financial debts | 170/4 | €150,000 | €114,005 | -€35,995 | -24.0% |
| Amounts payable within one year | 42/48 | €88,160 | €114,875 | +€26,714 | +30.3% |
| Current portion of amounts payable after more than one year | 42 | - | €19,896 | +€19,896 | |
| Financial debts | 43 | €50,000 | €50,000 | = | 0.0% |
| Other loans | 439 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €4,712 | €2,757 | -€1,955 | -41.5% |
| Suppliers | 440/4 | €4,712 | €2,757 | -€1,955 | -41.5% |
| Taxes, remuneration and social security | 45 | €31,638 | €40,405 | +€8,767 | +27.7% |
| Taxes | 450/3 | €31,638 | €40,405 | +€8,767 | +27.7% |
| Other amounts payable | 47/48 | €1,810 | €1,817 | +€7 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,182 | €3,836 | -€1,346 | -26.0% |
| Other operating charges | 640/8 | €2,732 | €4,118 | +€1,387 | +50.8% |
| Gross operating margin | 9900 | €128,272 | €64,557 | -€63,715 | -49.7% |
| Operating profit (loss) | 9901 | €120,359 | €56,603 | -€63,756 | -53.0% |
| Financial income | 75/76B | €1 | €18,801 | +€18,800 | +2441581.8% |
| Recurring financial income | 75 | €1 | €18,801 | +€18,800 | +2441581.8% |
| Financial charges | 65/66B | €320 | €4,447 | +€4,127 | +1291.5% |
| Recurring financial charges | 65 | €320 | €4,447 | +€4,127 | +1291.5% |
| Profit (loss) for the period before taxes | 9903 | €120,040 | €70,958 | -€49,083 | -40.9% |
| Income taxes | 67/77 | €27,294 | €15,487 | -€11,808 | -43.3% |
| Profit (loss) for the period | 9904 | €92,746 | €55,471 | -€37,275 | -40.2% |
| Profit (loss) for the period to be appropriated | 9905 | €92,746 | €55,471 | -€37,275 | -40.2% |
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 9 October 2026 via checked.be.