DOBBELAERE MICHEL: 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.
DOBBELAERE MICHEL
Largest movements
- Stocks and contracts -€20,134
down €20,134 (-12.1%), from €166,048 to €145,914
- Cash +€16,998
up €16,998 (+75.8%), from €22,428 to €39,427
mainly Stocks and contracts (+€20,134) and Other debts (+€11,642)
- Tangible fixed assets -€3,698
down €3,698 (-36.3%), from €10,187 to €6,489
- Receivables within one year +€2,580
up €2,580 (+11.1%), from €23,203 to €25,783
of which Other amounts receivable: +€1,368
- Trade debts -€19,296
down €19,296 (-64.9%), from €29,716 to €10,420
- Other debts +€11,642
up €11,642 (+7.5%), from €154,243 to €165,884
- Profit (loss) carried forward +€2,717
up €2,717 (+18.3%), from €14,890 to €17,607
- Gross operating margin +€12,644
up €12,644, from -€3,631 to €9,013
- Financial income -€1,712
down €1,712 (-95.2%), from €1,798 to €86
- Other operating charges -€122
down €122 (-13.9%), from €874 to €752
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 | €222,909 | €218,704 | -€4,205 | -1.9% |
| Fixed assets | 21/28 | €10,187 | €6,489 | -€3,698 | -36.3% |
| Tangible fixed assets | 22/27 | €10,187 | €6,489 | -€3,698 | -36.3% |
| Land and buildings | 22 | €4,854 | €3,757 | -€1,097 | -22.6% |
| Plant, machinery and equipment | 23 | €2,251 | €1,174 | -€1,078 | -47.9% |
| Furniture and vehicles | 24 | €3,081 | €1,559 | -€1,523 | -49.4% |
| Current assets | 29/58 | €212,722 | €212,215 | -€508 | -0.2% |
| Stocks and contracts in progress | 3 | €166,048 | €145,914 | -€20,134 | -12.1% |
| Stocks | 30/36 | €166,048 | €145,914 | -€20,134 | -12.1% |
| Amounts receivable within one year | 40/41 | €23,203 | €25,783 | +€2,580 | +11.1% |
| Trade receivables | 40 | €23,203 | €24,415 | +€1,212 | +5.2% |
| Other amounts receivable | 41 | - | €1,368 | +€1,368 | |
| Current investments | 50/53 | €500 | €500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €22,428 | €39,427 | +€16,998 | +75.8% |
| Deferred charges and accrued income | 490/1 | €543 | €591 | +€48 | +8.8% |
| Total equity and liabilities | 10/49 | €222,909 | €218,704 | -€4,205 | -1.9% |
| Equity | 10/15 | €37,820 | €40,537 | +€2,717 | +7.2% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €4,338 | €4,338 | = | 0.0% |
| Distributable reserves | 133 | €4,338 | €4,338 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,890 | €17,607 | +€2,717 | +18.3% |
| Amounts payable | 17/49 | €185,089 | €178,166 | -€6,923 | -3.7% |
| Amounts payable within one year | 42/48 | €184,809 | €177,887 | -€6,923 | -3.7% |
| Financial debts | 43 | - | €500 | +€500 | |
| Credit institutions | 430/8 | - | €500 | +€500 | |
| Trade debts | 44 | €29,716 | €10,420 | -€19,296 | -64.9% |
| Suppliers | 440/4 | €29,716 | €10,420 | -€19,296 | -64.9% |
| Taxes, remuneration and social security | 45 | €851 | €1,082 | +€231 | +27.2% |
| Taxes | 450/3 | €851 | €1,082 | +€231 | +27.2% |
| Other amounts payable | 47/48 | €154,243 | €165,884 | +€11,642 | +7.5% |
| Accrued charges and deferred income | 492/3 | €280 | €280 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,126 | €4,132 | +€6 | +0.1% |
| Other operating charges | 640/8 | €874 | €752 | -€122 | -13.9% |
| Gross operating margin | 9900 | -€3,631 | €9,013 | +€12,644 | |
| Operating profit (loss) | 9901 | -€8,631 | €4,129 | +€12,760 | |
| Financial income | 75/76B | €1,798 | €86 | -€1,712 | -95.2% |
| Recurring financial income | 75 | €1,798 | €86 | -€1,712 | -95.2% |
| Financial charges | 65/66B | €1,313 | €1,365 | +€52 | +4.0% |
| Recurring financial charges | 65 | €1,313 | €1,365 | +€52 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | -€8,146 | €2,849 | +€10,996 | |
| Income taxes | 67/77 | €140 | €132 | -€8 | -5.4% |
| Profit (loss) for the period | 9904 | -€8,286 | €2,717 | +€11,003 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,286 | €2,717 | +€11,003 |
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 31 October 2026 via checked.be.