DB-HD: what changed
DB-HD
Largest movements
- Cash +€25,095
up €25,095 (+94.5%), from €26,564 to €51,659
mainly Net result for the year (+€38,370) and Receivables after one year (+€13,482)
- Receivables after one year -€13,482
down €13,482 (-18.4%), from €73,420 to €59,938
- Tangible fixed assets -€8,088
down €8,088 (-24.0%), from €33,636 to €25,548
of which Furniture and vehicles: -€7,343
- Receivables within one year +€6,366
up €6,366 (+11.1%), from €57,147 to €63,513
of which Other amounts receivable: +€3,955
- Reserves +€37,000
up €37,000 (+92.8%), from €39,860 to €76,860
of which Distributable reserves: +€37,000
- Profit (loss) carried forward -€33,630
down €33,630 (-31.2%), from €107,665 to €74,035
- Other debts +€4,500
up €4,500 (+22.5%), from €20,000 to €24,500
- Taxes -€13,447
down €13,447 (-44.9%), from €29,950 to €16,503
- Gross operating margin -€8,978
down €8,978 (-12.6%), from €71,027 to €62,049
- Financial income +€1,716
up €1,716 (+65.3%), from €2,628 to €4,344
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €191,989 | €200,658 | +€8,669 | +4.5% |
| Fixed assets | 21/28 | €33,636 | €25,548 | -€8,088 | -24.0% |
| Tangible fixed assets | 22/27 | €33,636 | €25,548 | -€8,088 | -24.0% |
| Plant, machinery and equipment | 23 | - | €1,856 | +€1,856 | |
| Furniture and vehicles | 24 | €15,695 | €8,352 | -€7,343 | -46.8% |
| Other tangible fixed assets | 26 | €17,941 | €15,340 | -€2,601 | -14.5% |
| Current assets | 29/58 | €158,353 | €175,110 | +€16,757 | +10.6% |
| Amounts receivable after more than one year | 29 | €73,420 | €59,938 | -€13,482 | -18.4% |
| Other amounts receivable | 291 | €73,420 | €59,938 | -€13,482 | -18.4% |
| Amounts receivable within one year | 40/41 | €57,147 | €63,513 | +€6,366 | +11.1% |
| Trade receivables | 40 | €11,226 | €13,637 | +€2,411 | +21.5% |
| Other amounts receivable | 41 | €45,921 | €49,876 | +€3,955 | +8.6% |
| Cash at bank and in hand | 54/58 | €26,564 | €51,659 | +€25,095 | +94.5% |
| Deferred charges and accrued income | 490/1 | €1,222 | - | -€1,222 | |
| Total equity and liabilities | 10/49 | €191,989 | €200,658 | +€8,669 | +4.5% |
| Equity | 10/15 | €153,725 | €157,095 | +€3,370 | +2.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €39,860 | €76,860 | +€37,000 | +92.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €38,000 | €75,000 | +€37,000 | +97.4% |
| Profit (loss) carried forward | 14 | €107,665 | €74,035 | -€33,630 | -31.2% |
| Amounts payable | 17/49 | €38,264 | €43,563 | +€5,299 | +13.8% |
| Amounts payable within one year | 42/48 | €38,264 | €43,563 | +€5,299 | +13.8% |
| Trade debts | 44 | €55 | - | -€55 | |
| Suppliers | 440/4 | €55 | - | -€55 | |
| Advances received on contracts in progress | 46 | €18 | - | -€18 | |
| Taxes, remuneration and social security | 45 | €18,191 | €19,063 | +€872 | +4.8% |
| Taxes | 450/3 | €18,191 | €19,063 | +€872 | +4.8% |
| Other amounts payable | 47/48 | €20,000 | €24,500 | +€4,500 | +22.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,943 | €10,244 | +€301 | +3.0% |
| Other operating charges | 640/8 | €475 | €1,166 | +€691 | +145% |
| Gross operating margin | 9900 | €71,027 | €62,049 | -€8,978 | -12.6% |
| Operating profit (loss) | 9901 | €60,609 | €50,639 | -€9,970 | -16.4% |
| Financial income | 75/76B | €2,628 | €4,344 | +€1,716 | +65.3% |
| Recurring financial income | 75 | €2,628 | €4,344 | +€1,716 | +65.3% |
| Financial charges | 65/66B | €322 | €110 | -€212 | -65.8% |
| Recurring financial charges | 65 | €322 | €110 | -€212 | -65.8% |
| Profit (loss) for the period before taxes | 9903 | €62,915 | €54,873 | -€8,042 | -12.8% |
| Income taxes | 67/77 | €29,950 | €16,503 | -€13,447 | -44.9% |
| Profit (loss) for the period | 9904 | €32,965 | €38,370 | +€5,405 | +16.4% |
| Profit (loss) for the period to be appropriated | 9905 | €32,965 | €38,370 | +€5,405 | +16.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.