Den Duts: 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.
Den Duts
Largest movements
- Cash +€571,687
up €571,687 (+1260.4%), from €45,358 to €617,045
mainly Current investments (+€475,000) and Other debts (+€117,751)
- Current investments -€475,000
no longer reported in 2025 (was €475,000)
- Other debts +€117,751
up €117,751 (+625.1%), from €18,836 to €136,587
- Financial income +€6,031
up €6,031 (+285.3%), from €2,114 to €8,144
- Gross operating margin -€4,691
down €4,691 (-13.9%), from €33,632 to €28,941
- Other operating charges +€4,216
up €4,216 (+105.2%), from €4,008 to €8,224
- Depreciation +€2,505
up €2,505 (+17.0%), from €14,717 to €17,222
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 | €1,692,753 | €1,800,647 | +€107,894 | +6.4% |
| Fixed assets | 21/28 | €1,171,043 | €1,180,077 | +€9,034 | +0.8% |
| Tangible fixed assets | 22/27 | €1,171,043 | €1,180,077 | +€9,034 | +0.8% |
| Land and buildings | 22 | €1,150,512 | €1,164,442 | +€13,930 | +1.2% |
| Plant, machinery and equipment | 23 | €20,531 | €15,635 | -€4,896 | -23.8% |
| Current assets | 29/58 | €521,711 | €620,570 | +€98,859 | +18.9% |
| Amounts receivable within one year | 40/41 | €786 | €3,077 | +€2,291 | +291.7% |
| Other amounts receivable | 41 | €786 | €3,077 | +€2,291 | +291.7% |
| Current investments | 50/53 | €475,000 | - | -€475,000 | |
| Cash at bank and in hand | 54/58 | €45,358 | €617,045 | +€571,687 | +1260.4% |
| Deferred charges and accrued income | 490/1 | €567 | €448 | -€119 | -21.0% |
| Total equity and liabilities | 10/49 | €1,692,753 | €1,800,647 | +€107,894 | +6.4% |
| Equity | 10/15 | €540,288 | €523,275 | -€17,013 | -3.1% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €40,288 | €23,275 | -€17,013 | -42.2% |
| Distributable reserves | 133 | €40,288 | €23,275 | -€17,013 | -42.2% |
| Amounts payable | 17/49 | €1,152,465 | €1,277,372 | +€124,906 | +10.8% |
| Amounts payable after more than one year | 17 | €1,123,000 | €1,125,000 | +€2,000 | +0.2% |
| Financial debts | 170/4 | €1,120,000 | €1,120,000 | = | 0.0% |
| Other amounts payable | 178/9 | €3,000 | €5,000 | +€2,000 | +66.7% |
| Amounts payable within one year | 42/48 | €27,965 | €144,996 | +€117,031 | +418.5% |
| Trade debts | 44 | €9,129 | €8,409 | -€720 | -7.9% |
| Suppliers | 440/4 | €9,129 | €8,409 | -€720 | -7.9% |
| Other amounts payable | 47/48 | €18,836 | €136,587 | +€117,751 | +625.1% |
| Accrued charges and deferred income | 492/3 | €1,500 | €7,376 | +€5,876 | +391.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,717 | €17,222 | +€2,505 | +17.0% |
| Other operating charges | 640/8 | €4,008 | €8,224 | +€4,216 | +105.2% |
| Gross operating margin | 9900 | €33,632 | €28,941 | -€4,691 | -13.9% |
| Operating profit (loss) | 9901 | €14,907 | €3,495 | -€11,412 | -76.6% |
| Financial income | 75/76B | €2,114 | €8,144 | +€6,031 | +285.3% |
| Recurring financial income | 75 | €2,114 | €8,144 | +€6,031 | +285.3% |
| Financial charges | 65/66B | €258 | €402 | +€143 | +55.6% |
| Recurring financial charges | 65 | €258 | €402 | +€143 | +55.6% |
| Profit (loss) for the period before taxes | 9903 | €16,762 | €11,237 | -€5,525 | -33.0% |
| Income taxes | 67/77 | €0 | €0 | = | |
| Profit (loss) for the period | 9904 | €16,762 | €11,237 | -€5,525 | -33.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,762 | €11,237 | -€5,525 | -33.0% |
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.