DOLEX: what changed
Two fiscal 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.
DOLEX
Largest movements
- Cash +€1.6m
up €1.6m (+268.2%), from €601,570 to €2.2m
mainly Other debts (+€1.8m) and Current investments (+€1.4m)
- Current investments -€1.4m
no longer reported in 2025 (was €1.4m)
- Intangible fixed assets -€75,000
down €75,000 (-17.4%), from €431,096 to €356,096
- Deferred charges and accrued income +€60,485
up €60,485 (+3811.3%), from €1,587 to €62,072
- Profit (loss) carried forward -€2.1m
no longer reported in 2025 (was €2.1m)
- Other debts +€1.8m
up €1.8m (+358243.6%), from €514 to €1.8m
- Reserves +€522,041
new in 2025: €522,041
of which Distributable reserves: +€282,071
- Debts after one year -€108,763
down €108,763 (-47.8%), from €227,563 to €118,800
- Gross operating margin -€74,922
down €74,922 (-8.9%), from €844,532 to €769,610
- Financial income +€36,657
up €36,657 (+112.6%), from €32,568 to €69,226
- Taxes +€19,938
up €19,938 (+10.3%), from €193,324 to €213,262
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 | €2,576,215 | €2,767,125 | +€190,911 | +7.4% |
| Fixed assets | 21/28 | €564,010 | €465,979 | -€98,032 | -17.4% |
| Intangible fixed assets | 21 | €431,096 | €356,096 | -€75,000 | -17.4% |
| Tangible fixed assets | 22/27 | €132,914 | €109,883 | -€23,032 | -17.3% |
| Land and buildings | 22 | €99,541 | €87,046 | -€12,495 | -12.6% |
| Furniture and vehicles | 24 | €33,374 | €22,837 | -€10,537 | -31.6% |
| Current assets | 29/58 | €2,012,204 | €2,301,147 | +€288,942 | +14.4% |
| Amounts receivable within one year | 40/41 | €34,047 | €23,797 | -€10,250 | -30.1% |
| Trade receivables | 40 | €22,600 | €12,350 | -€10,250 | -45.4% |
| Other amounts receivable | 41 | €11,447 | €11,447 | -€0 | 0.0% |
| Current investments | 50/53 | €1,375,000 | - | -€1.4m | |
| Cash at bank and in hand | 54/58 | €601,570 | €2,215,278 | +€1.6m | +268.2% |
| Deferred charges and accrued income | 490/1 | €1,587 | €62,072 | +€60,485 | +3811.3% |
| Total equity and liabilities | 10/49 | €2,576,215 | €2,767,125 | +€190,911 | +7.4% |
| Equity | 10/15 | €2,227,304 | €682,041 | -€1.5m | -69.4% |
| Contributions | 10/11 | €160,000 | €160,000 | = | 0.0% |
| Reserves | 13 | - | €522,041 | +€522,041 | |
| Tax-exempt reserves | 132 | - | €239,970 | +€239,970 | |
| Distributable reserves | 133 | - | €282,071 | +€282,071 | |
| Profit (loss) carried forward | 14 | €2,067,304 | - | -€2.1m | |
| Amounts payable | 17/49 | €348,911 | €2,085,085 | +€1.7m | +497.6% |
| Amounts payable after more than one year | 17 | €227,563 | €118,800 | -€108,763 | -47.8% |
| Financial debts | 170/4 | €227,563 | €118,800 | -€108,763 | -47.8% |
| Amounts payable within one year | 42/48 | €121,276 | €1,965,194 | +€1.8m | +1520.4% |
| Current portion of amounts payable after more than one year | 42 | €107,908 | €108,763 | +€856 | +0.8% |
| Trade debts | 44 | €116 | €76 | -€40 | -34.8% |
| Suppliers | 440/4 | €116 | €76 | -€40 | -34.8% |
| Taxes, remuneration and social security | 45 | €12,738 | €13,143 | +€406 | +3.2% |
| Taxes | 450/3 | €12,738 | €13,143 | +€406 | +3.2% |
| Other amounts payable | 47/48 | €514 | €1,843,212 | +€1.8m | +358243.6% |
| Accrued charges and deferred income | 492/3 | €72 | €1,090 | +€1,019 | +1424.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,705 | €98,032 | +€1,327 | +1.4% |
| Other operating charges | 640/8 | €3,156 | €3,140 | -€16 | -0.5% |
| Gross operating margin | 9900 | €844,532 | €769,610 | -€74,922 | -8.9% |
| Operating profit (loss) | 9901 | €744,671 | €668,438 | -€76,233 | -10.2% |
| Financial income | 75/76B | €32,568 | €69,226 | +€36,657 | +112.6% |
| Recurring financial income | 75 | €32,568 | €69,226 | +€36,657 | +112.6% |
| Financial charges | 65/66B | €3,220 | €2,361 | -€859 | -26.7% |
| Recurring financial charges | 65 | €3,220 | €2,361 | -€859 | -26.7% |
| Profit (loss) for the period before taxes | 9903 | €774,019 | €735,302 | -€38,717 | -5.0% |
| Income taxes | 67/77 | €193,324 | €213,262 | +€19,938 | +10.3% |
| Profit (loss) for the period | 9904 | €580,696 | €522,041 | -€58,655 | -10.1% |
| Transfer to tax-exempt reserves | 689 | - | €239,970 | +€239,970 | |
| Profit (loss) for the period to be appropriated | 9905 | €580,696 | €282,071 | -€298,625 | -51.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.