D-LUX: 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-LUX
Largest movements
- Cash +€412,746
up €412,746 (+96.8%), from €426,383 to €839,129
mainly Current portion of long-term debt (+€844,366) and Trade debts (+€786,829)
- Receivables within one year +€333,380
up €333,380 (+21.8%), from €1.5m to €1.9m
of which Trade receivables: +€317,080
- Stocks and contracts +€314,750
up €314,750 (+40.1%), from €785,250 to €1.1m
- Tangible fixed assets -€197,978
down €197,978 (-10.9%), from €1.8m to €1.6m
- Current portion of long-term debt +€844,366
up €844,366 (+274.9%), from €307,145 to €1.2m
- Trade debts +€786,829
up €786,829 (+86.1%), from €914,125 to €1.7m
- Other debts -€685,530
down €685,530 (-72.6%), from €944,353 to €258,823
- Debts after one year -€177,664
down €177,664 (-19.8%), from €899,401 to €721,736
- Reserves +€136,073
up €136,073 (+9.3%), from €1.5m to €1.6m
of which Distributable reserves: +€137,933
- Depreciation +€30,435
up €30,435 (+9.7%), from €313,323 to €343,757
- Other operating charges +€28,978
up €28,978 (+323.0%), from €8,970 to €37,949
- Staff costs -€26,224
down €26,224 (-2.5%), from €1.1m to €1.0m
- Gross operating margin -€24,780
down €24,780 (-1.2%), from €2.1m to €2.1m
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.
Cash bridge derived
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 | €4,666,434 | €5,536,857 | +€870,423 | +18.7% |
| Fixed assets | 21/28 | €1,911,650 | €1,717,787 | -€193,863 | -10.1% |
| Intangible fixed assets | 21 | €24,000 | €17,194 | -€6,806 | -28.4% |
| Tangible fixed assets | 22/27 | €1,823,400 | €1,625,423 | -€197,978 | -10.9% |
| Land and buildings | 22 | €1,012,806 | €960,993 | -€51,813 | -5.1% |
| Plant, machinery and equipment | 23 | €210,081 | €167,509 | -€42,572 | -20.3% |
| Furniture and vehicles | 24 | €137,878 | €127,327 | -€10,550 | -7.7% |
| Leasing and similar rights | 25 | €462,635 | €369,593 | -€93,042 | -20.1% |
| Financial fixed assets | 28 | €64,250 | €75,170 | +€10,921 | +17.0% |
| Current assets | 29/58 | €2,754,784 | €3,819,070 | +€1.1m | +38.6% |
| Stocks and contracts in progress | 3 | €785,250 | €1,100,000 | +€314,750 | +40.1% |
| Stocks | 30/36 | €785,250 | €1,100,000 | +€314,750 | +40.1% |
| Amounts receivable within one year | 40/41 | €1,526,577 | €1,859,958 | +€333,380 | +21.8% |
| Trade receivables | 40 | €1,359,609 | €1,676,689 | +€317,080 | +23.3% |
| Other amounts receivable | 41 | €166,968 | €183,269 | +€16,301 | +9.8% |
| Cash at bank and in hand | 54/58 | €426,383 | €839,129 | +€412,746 | +96.8% |
| Deferred charges and accrued income | 490/1 | €16,574 | €19,983 | +€3,409 | +20.6% |
| Total equity and liabilities | 10/49 | €4,666,434 | €5,536,857 | +€870,423 | +18.7% |
| Equity | 10/15 | €1,474,769 | €1,610,842 | +€136,073 | +9.2% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €1,462,269 | €1,598,342 | +€136,073 | +9.3% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €1,460,409 | €1,598,342 | +€137,933 | +9.4% |
| Amounts payable | 17/49 | €3,191,665 | €3,926,015 | +€734,349 | +23.0% |
| Amounts payable after more than one year | 17 | €899,401 | €721,736 | -€177,664 | -19.8% |
| Financial debts | 170/4 | €899,401 | €721,736 | -€177,664 | -19.8% |
| Amounts payable within one year | 42/48 | €2,292,264 | €3,204,278 | +€912,014 | +39.8% |
| Current portion of amounts payable after more than one year | 42 | €307,145 | €1,151,511 | +€844,366 | +274.9% |
| Trade debts | 44 | €914,125 | €1,700,953 | +€786,829 | +86.1% |
| Suppliers | 440/4 | €914,125 | €1,700,953 | +€786,829 | +86.1% |
| Advances received on contracts in progress | 46 | €74,943 | - | -€74,943 | |
| Taxes, remuneration and social security | 45 | €51,699 | €92,991 | +€41,292 | +79.9% |
| Taxes | 450/3 | €46,472 | €78,886 | +€32,414 | +69.7% |
| Remuneration and social security | 454/9 | €5,227 | €14,105 | +€8,878 | +169.9% |
| Other amounts payable | 47/48 | €944,353 | €258,823 | -€685,530 | -72.6% |
| Non-recurring operating income | 76A | - | €685 | +€685 | |
| Remuneration, social security and pensions | 62 | €1,066,683 | €1,040,459 | -€26,224 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €313,323 | €343,757 | +€30,435 | +9.7% |
| Other operating charges | 640/8 | €8,970 | €37,949 | +€28,978 | +323.0% |
| Non-recurring operating charges | 66A | €2,492 | €1,189 | -€1,303 | -52.3% |
| Gross operating margin | 9900 | €2,107,699 | €2,082,919 | -€24,780 | -1.2% |
| Operating profit (loss) | 9901 | €716,231 | €659,565 | -€56,666 | -7.9% |
| Financial income | 75/76B | €35,109 | €40,283 | +€5,174 | +14.7% |
| Recurring financial income | 75 | €35,109 | €40,283 | +€5,174 | +14.7% |
| Financial charges | 65/66B | €108,099 | €95,583 | -€12,516 | -11.6% |
| Recurring financial charges | 65 | €108,099 | €95,583 | -€12,516 | -11.6% |
| Profit (loss) for the period before taxes | 9903 | €643,241 | €604,265 | -€38,976 | -6.1% |
| Income taxes | 67/77 | €82,336 | €93,191 | +€10,855 | +13.2% |
| Profit (loss) for the period | 9904 | €560,904 | €511,073 | -€49,831 | -8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €560,904 | €511,073 | -€49,831 | -8.9% |
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 11 October 2026 via checked.be.