DR-M: 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.
DR-M
Largest movements
- Receivables after one year -€7.9m
no longer reported in 2025 (was €7.9m)
- Receivables within one year +€106,362
up €106,362 (+124%), from €85,719 to €192,081
of which Other amounts receivable: +€106,362
- Profit (loss) carried forward -€5.5m
down €5.5m, from €5.5m to -€19,360
- Tax, wage and social debts -€2.0m
down €2.0m (-93.8%), from €2.1m to €129,796
- Reserves -€247,492
down €247,492 (-97.2%), from €254,712 to €7,220
of which Tax-exempt reserves: -€200,505
- Gross operating margin +€119,622
up €119,622, from -€6,553 to €113,069
- Taxes +€98,931
up €98,931, from €0 to €98,931
- Other operating charges +€26,860
up €26,860 (+4,050%), from €663 to €27,523
- Financial charges +€4,501
up €4,501 (+85.6%), from €5,257 to €9,759
- Financial income -€3,000
down €3,000 (-100%), from €3,000 to €0
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 | €7,957,717 | €192,081 | -€7.8m | -97.6% |
| Current assets | 29/58 | €7,957,717 | €192,081 | -€7.8m | -97.6% |
| Amounts receivable after more than one year | 29 | €7,871,500 | - | -€7.9m | |
| Other amounts receivable | 291 | €7,871,500 | - | -€7.9m | |
| Amounts receivable within one year | 40/41 | €85,719 | €192,081 | +€106,362 | +124% |
| Trade receivables | 40 | €30,855 | €30,855 | = | 0.0% |
| Other amounts receivable | 41 | €54,864 | €161,226 | +€106,362 | +194% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €498 | €0 | -€498 | -100% |
| Total equity and liabilities | 10/49 | €7,957,717 | €192,081 | -€7.8m | -97.6% |
| Equity | 10/15 | €5,741,230 | €6,860 | -€5.7m | -99.9% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €254,712 | €7,220 | -€247,492 | -97.2% |
| Tax-exempt reserves | 132 | €200,505 | €0 | -€200,505 | -100% |
| Distributable reserves | 133 | €54,207 | €7,220 | -€46,987 | -86.7% |
| Profit (loss) carried forward | 14 | €5,467,518 | -€19,360 | -€5.5m | |
| Provisions and deferred taxes | 16 | €70,392 | €4,204 | -€66,188 | -94.0% |
| Provisions for liabilities and charges | 160/5 | €4,204 | €4,204 | = | 0.0% |
| Other liabilities and charges | 164/5 | €4,204 | €4,204 | = | 0.0% |
| Deferred taxes | 168 | €66,188 | €0 | -€66,188 | -100% |
| Amounts payable | 17/49 | €2,146,095 | €181,017 | -€2.0m | -91.6% |
| Amounts payable within one year | 42/48 | €2,146,095 | €181,017 | -€2.0m | -91.6% |
| Financial debts | 43 | €48,841 | €49,344 | +€503 | +1.0% |
| Credit institutions | 430/8 | €48,841 | €49,344 | +€503 | +1.0% |
| Trade debts | 44 | €572 | €1,156 | +€584 | +102% |
| Suppliers | 440/4 | €572 | €1,156 | +€584 | +102% |
| Taxes, remuneration and social security | 45 | €2,096,059 | €129,796 | -€2.0m | -93.8% |
| Taxes | 450/3 | €2,096,059 | €129,796 | -€2.0m | -93.8% |
| Other amounts payable | 47/48 | €623 | €721 | +€97 | +15.6% |
| Non-recurring operating income | 76A | €0 | €115,885 | +€115,885 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €663 | €27,523 | +€26,860 | +4,050% |
| Gross operating margin | 9900 | -€6,553 | €113,069 | +€119,622 | |
| Operating profit (loss) | 9901 | -€7,216 | €85,546 | +€92,762 | |
| Financial income | 75/76B | €3,000 | €0 | -€3,000 | -100% |
| Recurring financial income | 75 | €3,000 | €0 | -€3,000 | -100% |
| Financial charges | 65/66B | €5,257 | €9,759 | +€4,501 | +85.6% |
| Recurring financial charges | 65 | €5,257 | €9,759 | +€4,501 | +85.6% |
| Profit (loss) for the period before taxes | 9903 | -€9,473 | €75,787 | +€85,261 | |
| Transfer from deferred taxes | 780 | - | €66,188 | +€66,188 | |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €0 | €98,931 | +€98,931 | |
| Profit (loss) for the period | 9904 | -€9,473 | €43,045 | +€52,518 | |
| Transfer from tax-exempt reserves | 789 | - | €200,505 | +€200,505 | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,473 | €243,550 | +€253,023 |
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 22 October 2026 via checked.be.