C-DUNE: 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.
C-DUNE
Largest movements
- Receivables within one year +€49,313
up €49,313 (+26.9%), from €183,222 to €232,535
- Cash -€15,675
down €15,675 (-43.0%), from €36,412 to €20,737
mainly Receivables within one year (-€49,313) and Debts after one year (-€37,601)
- Reserves +€76,772
up €76,772 (+31.4%), from €244,553 to €321,325
- Debts after one year -€37,601
down €37,601 (-23.0%), from €163,803 to €126,202
- Tax, wage and social debts -€14,872
down €14,872 (-45.8%), from €32,498 to €17,626
of which Taxes: -€15,110
- Financial income -€140,000
down €140,000 (-73.7%), from €190,000 to €50,000
- Taxes -€15,982
down €15,982 (-48.1%), from €33,204 to €17,222
- Gross operating margin -€9,967
down €9,967 (-14.0%), from €71,356 to €61,389
- Financial charges -€1,801
down €1,801 (-11.1%), from €16,153 to €14,352
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 | €577,458 | €605,194 | +€27,736 | +4.8% |
| Formation expenses | 20 | €1,309 | €40 | -€1,269 | -96.9% |
| Fixed assets | 21/28 | €352,378 | €351,132 | -€1,246 | -0.4% |
| Tangible fixed assets | 22/27 | €2,378 | €1,132 | -€1,246 | -52.4% |
| Plant, machinery and equipment | 23 | €2,378 | €1,132 | -€1,246 | -52.4% |
| Financial fixed assets | 28 | €350,000 | €350,000 | = | 0.0% |
| Current assets | 29/58 | €223,771 | €254,022 | +€30,251 | +13.5% |
| Amounts receivable within one year | 40/41 | €183,222 | €232,535 | +€49,313 | +26.9% |
| Other amounts receivable | 41 | €183,222 | €232,535 | +€49,313 | +26.9% |
| Cash at bank and in hand | 54/58 | €36,412 | €20,737 | -€15,675 | -43.0% |
| Deferred charges and accrued income | 490/1 | €4,137 | €750 | -€3,387 | -81.9% |
| Total equity and liabilities | 10/49 | €577,458 | €605,194 | +€27,736 | +4.8% |
| Equity | 10/15 | €244,553 | €321,325 | +€76,772 | +31.4% |
| Reserves | 13 | €244,553 | €321,325 | +€76,772 | +31.4% |
| Distributable reserves | 133 | €244,553 | €321,325 | +€76,772 | +31.4% |
| Amounts payable | 17/49 | €332,905 | €283,869 | -€49,036 | -14.7% |
| Amounts payable after more than one year | 17 | €163,803 | €126,202 | -€37,601 | -23.0% |
| Financial debts | 170/4 | €163,803 | €126,202 | -€37,601 | -23.0% |
| Amounts payable within one year | 42/48 | €162,129 | €151,053 | -€11,076 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €36,080 | €37,601 | +€1,521 | +4.2% |
| Trade debts | 44 | €4,808 | €2,092 | -€2,716 | -56.5% |
| Suppliers | 440/4 | €4,808 | €2,092 | -€2,716 | -56.5% |
| Taxes, remuneration and social security | 45 | €32,498 | €17,626 | -€14,872 | -45.8% |
| Taxes | 450/3 | €28,186 | €13,076 | -€15,110 | -53.6% |
| Remuneration and social security | 454/9 | €4,312 | €4,550 | +€238 | +5.5% |
| Other amounts payable | 47/48 | €88,743 | €93,734 | +€4,992 | +5.6% |
| Accrued charges and deferred income | 492/3 | €6,974 | €6,615 | -€359 | -5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,537 | €2,515 | -€21 | -0.8% |
| Other operating charges | 640/8 | €126 | €528 | +€402 | +319% |
| Gross operating margin | 9900 | €71,356 | €61,389 | -€9,967 | -14.0% |
| Operating profit (loss) | 9901 | €68,693 | €58,346 | -€10,347 | -15.1% |
| Financial income | 75/76B | €190,000 | €50,000 | -€140,000 | -73.7% |
| Recurring financial income | 75 | €190,000 | €50,000 | -€140,000 | -73.7% |
| Financial charges | 65/66B | €16,153 | €14,352 | -€1,801 | -11.1% |
| Recurring financial charges | 65 | €16,153 | €14,352 | -€1,801 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €242,540 | €93,994 | -€148,546 | -61.2% |
| Income taxes | 67/77 | €33,204 | €17,222 | -€15,982 | -48.1% |
| Profit (loss) for the period | 9904 | €209,336 | €76,772 | -€132,564 | -63.3% |
| Profit (loss) for the period to be appropriated | 9905 | €209,336 | €76,772 | -€132,564 | -63.3% |
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 14 October 2026 via checked.be.