Dolfeyn: 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.
Dolfeyn
Largest movements
- Receivables within one year +€51,549
up €51,549 (+95.2%), from €54,139 to €105,688
of which Trade receivables: +€70,931
- Tangible fixed assets -€42,054
down €42,054 (-18.4%), from €228,518 to €186,464
of which Furniture and vehicles: -€27,598
- Stocks and contracts -€8,272
down €8,272 (-14.0%), from €58,910 to €50,638
- Other debts -€30,182
down €30,182 (-44.4%), from €68,014 to €37,832
- Debts after one year +€21,822
up €21,822 (+17.6%), from €124,209 to €146,031
- Trade debts -€18,798
no longer reported in 2025 (was €18,798)
- Current portion of long-term debt +€14,884
up €14,884 (+39.5%), from €37,670 to €52,554
- Profit (loss) carried forward +€9,538
up €9,538 (+7.4%), from €128,687 to €138,225
- Gross operating margin +€36,216
up €36,216 (+15.6%), from €231,531 to €267,747
- Depreciation +€5,377
up €5,377 (+9.8%), from €54,872 to €60,249
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 | €448,976 | €453,409 | +€4,433 | +1.0% |
| Fixed assets | 21/28 | €228,617 | €186,563 | -€42,054 | -18.4% |
| Tangible fixed assets | 22/27 | €228,518 | €186,464 | -€42,054 | -18.4% |
| Land and buildings | 22 | €136,539 | €116,061 | -€20,478 | -15.0% |
| Plant, machinery and equipment | 23 | €19,141 | €25,163 | +€6,022 | +31.5% |
| Furniture and vehicles | 24 | €72,838 | €45,240 | -€27,598 | -37.9% |
| Financial fixed assets | 28 | €99 | €99 | = | 0.0% |
| Current assets | 29/58 | €220,359 | €266,846 | +€46,487 | +21.1% |
| Stocks and contracts in progress | 3 | €58,910 | €50,638 | -€8,272 | -14.0% |
| Stocks | 30/36 | €58,910 | €50,638 | -€8,272 | -14.0% |
| Amounts receivable within one year | 40/41 | €54,139 | €105,688 | +€51,549 | +95.2% |
| Trade receivables | 40 | €20,686 | €91,617 | +€70,931 | +342.9% |
| Other amounts receivable | 41 | €33,453 | €14,071 | -€19,382 | -57.9% |
| Cash at bank and in hand | 54/58 | €106,160 | €109,370 | +€3,210 | +3.0% |
| Deferred charges and accrued income | 490/1 | €1,150 | €1,150 | = | 0.0% |
| Total equity and liabilities | 10/49 | €448,976 | €453,409 | +€4,433 | +1.0% |
| Equity | 10/15 | €196,857 | €206,395 | +€9,538 | +4.8% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | €128,687 | €138,225 | +€9,538 | +7.4% |
| Amounts payable | 17/49 | €252,119 | €247,014 | -€5,105 | -2.0% |
| Amounts payable after more than one year | 17 | €124,209 | €146,031 | +€21,822 | +17.6% |
| Financial debts | 170/4 | €124,209 | €146,031 | +€21,822 | +17.6% |
| Amounts payable within one year | 42/48 | €124,482 | €96,549 | -€27,933 | -22.4% |
| Current portion of amounts payable after more than one year | 42 | €37,670 | €52,554 | +€14,884 | +39.5% |
| Trade debts | 44 | €18,798 | - | -€18,798 | |
| Suppliers | 440/4 | €18,798 | - | -€18,798 | |
| Taxes, remuneration and social security | 45 | - | €6,163 | +€6,163 | |
| Remuneration and social security | 454/9 | - | €6,163 | +€6,163 | |
| Other amounts payable | 47/48 | €68,014 | €37,832 | -€30,182 | -44.4% |
| Accrued charges and deferred income | 492/3 | €3,428 | €4,434 | +€1,006 | +29.3% |
| Remuneration, social security and pensions | 62 | €185,481 | €184,417 | -€1,064 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,872 | €60,249 | +€5,377 | +9.8% |
| Other operating charges | 640/8 | €4,231 | €4,144 | -€87 | -2.1% |
| Gross operating margin | 9900 | €231,531 | €267,747 | +€36,216 | +15.6% |
| Operating profit (loss) | 9901 | -€13,053 | €18,937 | +€31,990 | |
| Financial income | 75/76B | €100 | - | -€100 | |
| Recurring financial income | 75 | €100 | - | -€100 | |
| Financial charges | 65/66B | €9,490 | €9,267 | -€223 | -2.3% |
| Recurring financial charges | 65 | €9,490 | €9,267 | -€223 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | -€22,443 | €9,670 | +€32,113 | |
| Income taxes | 67/77 | €128 | €132 | +€4 | +3.1% |
| Profit (loss) for the period | 9904 | -€22,571 | €9,538 | +€32,109 | |
| Profit (loss) for the period to be appropriated | 9905 | -€22,571 | €9,538 | +€32,109 |
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 3 October 2026 via checked.be.