De Forti Dulcedo: 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.
De Forti Dulcedo
Largest movements
- Cash +€24,694
up €24,694 (+111%), from €22,277 to €46,971
mainly Net result for the year (+€46,364) and Other debts (+€24,896)
- Tangible fixed assets -€8,675
down €8,675 (-2.8%), from €308,098 to €299,424
of which Land and buildings: -€7,030
- Other debts +€24,896
up €24,896 (+379%), from €6,572 to €31,467
- Current portion of long-term debt -€20,679
down €20,679 (-59.6%), from €34,695 to €14,016
- Profit (loss) carried forward +€20,482
up €20,482, from -€4,706 to €15,776
- Debts after one year -€14,016
down €14,016 (-5.0%), from €278,454 to €264,438
- Tax, wage and social debts +€7,163
up €7,163 (+84.9%), from €8,437 to €15,600
- Gross operating margin +€41,827
up €41,827 (+94.0%), from €44,497 to €86,324
- Taxes +€16,337
up €16,337 (+1,849%), from €883 to €17,220
- Financial charges -€1,633
down €1,633 (-18.4%), from €8,872 to €7,239
- Depreciation +€1,038
up €1,038 (+9.2%), from €11,309 to €12,347
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 | €331,182 | €350,369 | +€19,187 | +5.8% |
| Fixed assets | 21/28 | €308,098 | €299,424 | -€8,675 | -2.8% |
| Tangible fixed assets | 22/27 | €308,098 | €299,424 | -€8,675 | -2.8% |
| Land and buildings | 22 | €272,357 | €265,327 | -€7,030 | -2.6% |
| Plant, machinery and equipment | 23 | €10,809 | €12,111 | +€1,301 | +12.0% |
| Furniture and vehicles | 24 | €18,896 | €15,950 | -€2,946 | -15.6% |
| Other tangible fixed assets | 26 | €6,036 | €6,036 | = | 0.0% |
| Current assets | 29/58 | €23,083 | €50,945 | +€27,862 | +121% |
| Amounts receivable within one year | 40/41 | €617 | €3,604 | +€2,987 | +485% |
| Trade receivables | 40 | - | €2,987 | +€2,987 | |
| Other amounts receivable | 41 | €617 | €617 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €22,277 | €46,971 | +€24,694 | +111% |
| Deferred charges and accrued income | 490/1 | €190 | €370 | +€181 | +95.4% |
| Total equity and liabilities | 10/49 | €331,182 | €350,369 | +€19,187 | +5.8% |
| Equity | 10/15 | -€1,706 | €18,776 | +€20,482 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,706 | €15,776 | +€20,482 | |
| Amounts payable | 17/49 | €332,888 | €331,593 | -€1,295 | -0.4% |
| Amounts payable after more than one year | 17 | €278,454 | €264,438 | -€14,016 | -5.0% |
| Financial debts | 170/4 | €278,454 | €264,438 | -€14,016 | -5.0% |
| Amounts payable within one year | 42/48 | €50,950 | €65,463 | +€14,513 | +28.5% |
| Current portion of amounts payable after more than one year | 42 | €34,695 | €14,016 | -€20,679 | -59.6% |
| Trade debts | 44 | €1,246 | €4,380 | +€3,134 | +251% |
| Suppliers | 440/4 | €1,246 | €4,380 | +€3,134 | +251% |
| Taxes, remuneration and social security | 45 | €8,437 | €15,600 | +€7,163 | +84.9% |
| Taxes | 450/3 | €8,437 | €15,600 | +€7,163 | +84.9% |
| Other amounts payable | 47/48 | €6,572 | €31,467 | +€24,896 | +379% |
| Accrued charges and deferred income | 492/3 | €3,483 | €1,692 | -€1,792 | -51.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,309 | €12,347 | +€1,038 | +9.2% |
| Other operating charges | 640/8 | €2,294 | €3,153 | +€859 | +37.5% |
| Gross operating margin | 9900 | €44,497 | €86,324 | +€41,827 | +94.0% |
| Operating profit (loss) | 9901 | €30,894 | €70,823 | +€39,930 | +129% |
| Financial charges | 65/66B | €8,872 | €7,239 | -€1,633 | -18.4% |
| Recurring financial charges | 65 | €8,872 | €7,239 | -€1,633 | -18.4% |
| Profit (loss) for the period before taxes | 9903 | €22,022 | €63,585 | +€41,563 | +189% |
| Income taxes | 67/77 | €883 | €17,220 | +€16,337 | +1,849% |
| Profit (loss) for the period | 9904 | €21,138 | €46,364 | +€25,226 | +119% |
| Profit (loss) for the period to be appropriated | 9905 | €21,138 | €46,364 | +€25,226 | +119% |
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 29 October 2026 via checked.be.