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.
D+
Largest movements
- Stocks and contracts -€12,600
down €12,600 (-38.5%), from €32,709 to €20,110
- Cash +€11,041
up €11,041 (+257%), from €4,290 to €15,332
mainly Stocks and contracts (+€12,600) and Receivables within one year (+€2,241)
- Receivables within one year -€2,241
down €2,241 (-5.1%), from €43,573 to €41,332
of which Other amounts receivable: -€2,337
- Profit (loss) carried forward -€2,566
down €2,566 (-5.2%), from €49,517 to €46,951
- Current portion of long-term debt -€1,187
no longer reported in 2025 (was €1,187)
- Gross operating margin -€5,080
down €5,080 (-99.8%), from €5,092 to €11
- Financial charges +€2,940
up €2,940 (+263%), from €1,118 to €4,058
- Taxes -€1,466
no longer reported in 2025 (was €1,466)
- Financial income -€554
down €554 (-19.6%), from €2,823 to €2,270
- Other operating charges -€161
down €161 (-17.0%), from €950 to €789
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 | €84,394 | €80,681 | -€3,713 | -4.4% |
| Fixed assets | 21/28 | €3,822 | €3,822 | = | 0.0% |
| Financial fixed assets | 28 | €3,822 | €3,822 | = | 0.0% |
| Current assets | 29/58 | €80,573 | €76,860 | -€3,713 | -4.6% |
| Stocks and contracts in progress | 3 | €32,709 | €20,110 | -€12,600 | -38.5% |
| Stocks | 30/36 | €32,709 | €20,110 | -€12,600 | -38.5% |
| Amounts receivable within one year | 40/41 | €43,573 | €41,332 | -€2,241 | -5.1% |
| Trade receivables | 40 | - | €96 | +€96 | |
| Other amounts receivable | 41 | €43,573 | €41,236 | -€2,337 | -5.4% |
| Cash at bank and in hand | 54/58 | €4,290 | €15,332 | +€11,041 | +257% |
| Deferred charges and accrued income | 490/1 | - | €87 | +€87 | |
| Total equity and liabilities | 10/49 | €84,394 | €80,681 | -€3,713 | -4.4% |
| Equity | 10/15 | €77,017 | €74,451 | -€2,566 | -3.3% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,517 | €46,951 | -€2,566 | -5.2% |
| Amounts payable | 17/49 | €7,377 | €6,230 | -€1,147 | -15.6% |
| Amounts payable within one year | 42/48 | €6,474 | €5,430 | -€1,044 | -16.1% |
| Current portion of amounts payable after more than one year | 42 | €1,187 | - | -€1,187 | |
| Trade debts | 44 | €579 | €1,293 | +€714 | +123% |
| Suppliers | 440/4 | €579 | €1,293 | +€714 | +123% |
| Taxes, remuneration and social security | 45 | €4,708 | €4,137 | -€571 | -12.1% |
| Taxes | 450/3 | €4,708 | €4,137 | -€571 | -12.1% |
| Accrued charges and deferred income | 492/3 | €903 | €800 | -€103 | -11.5% |
| Non-recurring operating income | 76A | - | €5,000 | +€5,000 | |
| Remuneration, social security and pensions | 62 | €19 | - | -€19 | |
| Other operating charges | 640/8 | €950 | €789 | -€161 | -17.0% |
| Gross operating margin | 9900 | €5,092 | €11 | -€5,080 | -99.8% |
| Operating profit (loss) | 9901 | €4,123 | -€777 | -€4,900 | |
| Financial income | 75/76B | €2,823 | €2,270 | -€554 | -19.6% |
| Recurring financial income | 75 | €2,823 | €2,270 | -€554 | -19.6% |
| Financial charges | 65/66B | €1,118 | €4,058 | +€2,940 | +263% |
| Recurring financial charges | 65 | €1,118 | €4,058 | +€2,940 | +263% |
| Profit (loss) for the period before taxes | 9903 | €5,828 | -€2,566 | -€8,394 | |
| Income taxes | 67/77 | €1,466 | - | -€1,466 | |
| Profit (loss) for the period | 9904 | €4,362 | -€2,566 | -€6,927 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,362 | -€2,566 | -€6,927 |
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 21 October 2026 via checked.be.