We are D: 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.
We are D
Largest movements
- Cash +€28,551
up €28,551 (+37.2%), from €76,768 to €105,319
mainly Net result for the year (+€57,494) and Tax, wage and social debts (+€18,228)
- Receivables within one year +€18,044
up €18,044 (+61.6%), from €29,307 to €47,351
of which Trade receivables: +€17,442
- Tangible fixed assets -€11,992
down €11,992 (-53.7%), from €22,346 to €10,354
of which Furniture and vehicles: -€11,011
- Financial fixed assets +€9,749
up €9,749 (+806%), from €1,210 to €10,959
- Stocks and contracts +€6,422
up €6,422 (+502%), from €1,280 to €7,702
- Reserves +€98,558
new in 2025: €98,558
- Profit (loss) carried forward -€41,064
down €41,064 (-100%), from €41,064 to €0
- Trade debts -€20,756
down €20,756 (-43.3%), from €47,883 to €27,126
- Tax, wage and social debts +€18,228
up €18,228 (+47.6%), from €38,312 to €56,539
- Debts after one year -€5,003
down €5,003 (-85.4%), from €5,858 to €855
- Gross operating margin +€25,172
up €25,172 (+37.0%), from €68,124 to €93,295
- Taxes +€6,954
up €6,954 (+55.2%), from €12,604 to €19,558
- Depreciation -€3,653
down €3,653 (-61.1%), from €5,981 to €2,328
- Other operating charges -€3,051
down €3,051 (-78.5%), from €3,887 to €835
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 | €142,733 | €189,364 | +€46,631 | +32.7% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €30,022 | €27,030 | -€2,992 | -10.0% |
| Intangible fixed assets | 21 | €6,466 | €5,716 | -€750 | -11.6% |
| Tangible fixed assets | 22/27 | €22,346 | €10,354 | -€11,992 | -53.7% |
| Furniture and vehicles | 24 | €14,401 | €3,389 | -€11,011 | -76.5% |
| Other tangible fixed assets | 26 | €7,945 | €6,965 | -€980 | -12.3% |
| Financial fixed assets | 28 | €1,210 | €10,959 | +€9,749 | +806% |
| Current assets | 29/58 | €112,710 | €162,334 | +€49,624 | +44.0% |
| Stocks and contracts in progress | 3 | €1,280 | €7,702 | +€6,422 | +502% |
| Stocks | 30/36 | €1,280 | €7,702 | +€6,422 | +502% |
| Amounts receivable within one year | 40/41 | €29,307 | €47,351 | +€18,044 | +61.6% |
| Trade receivables | 40 | €28,969 | €46,411 | +€17,442 | +60.2% |
| Other amounts receivable | 41 | €338 | €940 | +€602 | +178% |
| Cash at bank and in hand | 54/58 | €76,768 | €105,319 | +€28,551 | +37.2% |
| Deferred charges and accrued income | 490/1 | €5,356 | €1,962 | -€3,394 | -63.4% |
| Total equity and liabilities | 10/49 | €142,733 | €189,364 | +€46,631 | +32.7% |
| Equity | 10/15 | €42,064 | €99,558 | +€57,494 | +137% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | - | €98,558 | +€98,558 | |
| Distributable reserves | 133 | - | €98,558 | +€98,558 | |
| Profit (loss) carried forward | 14 | €41,064 | €0 | -€41,064 | -100% |
| Amounts payable | 17/49 | €100,669 | €89,806 | -€10,863 | -10.8% |
| Amounts payable after more than one year | 17 | €5,858 | €855 | -€5,003 | -85.4% |
| Financial debts | 170/4 | €5,858 | €855 | -€5,003 | -85.4% |
| Amounts payable within one year | 42/48 | €91,442 | €88,669 | -€2,773 | -3.0% |
| Current portion of amounts payable after more than one year | 42 | €4,789 | €5,003 | +€214 | +4.5% |
| Trade debts | 44 | €47,883 | €27,126 | -€20,756 | -43.3% |
| Suppliers | 440/4 | €47,883 | €27,126 | -€20,756 | -43.3% |
| Taxes, remuneration and social security | 45 | €38,312 | €56,539 | +€18,228 | +47.6% |
| Taxes | 450/3 | €38,312 | €56,539 | +€18,228 | +47.6% |
| Other amounts payable | 47/48 | €459 | €0 | -€459 | -100% |
| Accrued charges and deferred income | 492/3 | €3,369 | €282 | -€3,087 | -91.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,981 | €2,328 | -€3,653 | -61.1% |
| Other operating charges | 640/8 | €3,887 | €835 | -€3,051 | -78.5% |
| Non-recurring operating charges | 66A | - | €4,264 | +€4,264 | |
| Gross operating margin | 9900 | €68,124 | €93,295 | +€25,172 | +37.0% |
| Operating profit (loss) | 9901 | €58,256 | €85,868 | +€27,612 | +47.4% |
| Financial income | 75/76B | €1,670 | €1,348 | -€322 | -19.3% |
| Recurring financial income | 75 | €1,670 | €1,348 | -€322 | -19.3% |
| Financial charges | 65/66B | €9,900 | €10,164 | +€265 | +2.7% |
| Recurring financial charges | 65 | €9,900 | €10,164 | +€265 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €50,026 | €77,052 | +€27,026 | +54.0% |
| Income taxes | 67/77 | €12,604 | €19,558 | +€6,954 | +55.2% |
| Profit (loss) for the period | 9904 | €37,422 | €57,494 | +€20,072 | +53.6% |
| Profit (loss) for the period to be appropriated | 9905 | €37,422 | €57,494 | +€20,072 | +53.6% |
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 17 October 2026 via checked.be.