DOUVE: 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.
What changed
DOUVE
NACE 46.713, Wholesale trade
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€42,922
2024 · €93,878-€50,956
Equity
€1.4m
2024 · €1.3m+€40,368
Cash
€54,947
2024 · €76,098-€21,151
Balance sheet total
€2.6m
2024 · €3.0m-€422,916
Largest movements
Assets
- Receivables within one year -€296,153
down €296,153 (-73.5%), from €403,045 to €106,892
- Stocks and contracts -€56,239
down €56,239 (-4.3%), from €1.3m to €1.2m
- Tangible fixed assets -€44,587
down €44,587 (-3.6%), from €1.2m to €1.2m
of which Land and buildings: -€71,203
Equity and liabilities
- Trade debts -€339,322
down €339,322 (-75.7%), from €448,168 to €108,846
- Debts after one year -€96,655
down €96,655 (-13.4%), from €719,772 to €623,117
- Reserves +€42,922
up €42,922 (+4.6%), from €934,955 to €977,877
of which Distributable reserves: +€44,521
- Tax, wage and social debts -€39,308
down €39,308 (-23.6%), from €166,400 to €127,092
of which Taxes: -€38,805
Income statement
- Gross operating margin -€76,058
down €76,058 (-9.0%), from €840,576 to €764,518
- Financial charges -€17,062
down €17,062 (-27.7%), from €61,540 to €44,478
- Taxes -€9,424
down €9,424 (-44.5%), from €21,200 to €11,776
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.
Result 2024
€93,878
Gross operating margin
-€76,058
Staff costs
-€3,922
Depreciation
+€2,856
Write-downs
+€4,925
Other operating charges
-€4,928
Financial income
-€315
Financial charges
+€17,062
Taxes
+€9,424
Result 2025
€42,922
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.
From operations
+€122,799
Investment
-€67,623
Financing
-€76,327
Cash 2024
€76,098
From operations (derived)
+€122,799
Net result for the year
+€42,922
Depreciation
+€117,841
Stocks and contracts
+€56,239
Receivables within one year
+€296,153
Smaller working-capital items
-€621
Trade debts
-€339,322
Tax, wage and social debts
-€39,308
Other debts
-€11,105
Investment (derived)
-€67,623
Investment in fixed assets (net)
-€67,623
Financing
-€76,327
Debts after one year
-€96,655
Current portion of long-term debt
+€22,882
Contributions, distributions and other
-€2,554
Cash 2025
€54,947
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,048,140 | €2,625,224 | -€422,916 | -13.9% |
| Fixed assets | 21/28 | €1,258,136 | €1,207,918 | -€50,218 | -4.0% |
| Intangible fixed assets | 21 | €12,305 | €6,674 | -€5,631 | -45.8% |
| Tangible fixed assets | 22/27 | €1,245,831 | €1,201,244 | -€44,587 | -3.6% |
| Land and buildings | 22 | €1,153,166 | €1,081,963 | -€71,203 | -6.2% |
| Plant, machinery and equipment | 23 | €88,524 | €74,137 | -€14,387 | -16.3% |
| Furniture and vehicles | 24 | €4,141 | €19,603 | +€15,462 | +373.4% |
| Leasing and similar rights | 25 | - | €25,541 | +€25,541 | |
| Current assets | 29/58 | €1,790,004 | €1,417,306 | -€372,698 | -20.8% |
| Stocks and contracts in progress | 3 | €1,300,321 | €1,244,082 | -€56,239 | -4.3% |
| Stocks | 30/36 | €1,300,321 | €1,244,082 | -€56,239 | -4.3% |
| Amounts receivable within one year | 40/41 | €403,045 | €106,892 | -€296,153 | -73.5% |
| Trade receivables | 40 | €403,045 | €106,892 | -€296,153 | -73.5% |
| Cash at bank and in hand | 54/58 | €76,098 | €54,947 | -€21,151 | -27.8% |
| Deferred charges and accrued income | 490/1 | €10,540 | €11,385 | +€845 | +8.0% |
| Total equity and liabilities | 10/49 | €3,048,140 | €2,625,224 | -€422,916 | -13.9% |
| Equity | 10/15 | €1,313,783 | €1,354,151 | +€40,368 | +3.1% |
| Contributions | 10/11 | €335,000 | €335,000 | = | 0.0% |
| Reserves | 13 | €934,955 | €977,877 | +€42,922 | +4.6% |
| Tax-exempt reserves | 132 | €60,580 | €58,981 | -€1,599 | -2.6% |
| Distributable reserves | 133 | €874,375 | €918,896 | +€44,521 | +5.1% |
| Investment grants | 15 | €43,828 | €41,274 | -€2,554 | -5.8% |
| Amounts payable | 17/49 | €1,734,357 | €1,271,073 | -€463,284 | -26.7% |
| Amounts payable after more than one year | 17 | €719,772 | €623,117 | -€96,655 | -13.4% |
| Financial debts | 170/4 | €719,772 | €623,117 | -€96,655 | -13.4% |
| Amounts payable within one year | 42/48 | €1,014,147 | €647,294 | -€366,853 | -36.2% |
| Current portion of amounts payable after more than one year | 42 | €99,366 | €122,248 | +€22,882 | +23.0% |
| Financial debts | 43 | €287,000 | €287,000 | = | 0.0% |
| Credit institutions | 430/8 | €287,000 | €287,000 | = | 0.0% |
| Trade debts | 44 | €448,168 | €108,846 | -€339,322 | -75.7% |
| Suppliers | 440/4 | €448,168 | €108,846 | -€339,322 | -75.7% |
| Taxes, remuneration and social security | 45 | €166,400 | €127,092 | -€39,308 | -23.6% |
| Taxes | 450/3 | €81,347 | €42,542 | -€38,805 | -47.7% |
| Remuneration and social security | 454/9 | €85,053 | €84,550 | -€503 | -0.6% |
| Other amounts payable | 47/48 | €13,213 | €2,108 | -€11,105 | -84.0% |
| Accrued charges and deferred income | 492/3 | €438 | €662 | +€224 | +51.1% |
| Non-recurring operating income | 76A | €20,331 | - | -€20,331 | |
| Remuneration, social security and pensions | 62 | €517,717 | €521,639 | +€3,922 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €120,697 | €117,841 | -€2,856 | -2.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €4,925 | - | -€4,925 | |
| Other operating charges | 640/8 | €25,349 | €30,277 | +€4,928 | +19.4% |
| Gross operating margin | 9900 | €840,576 | €764,518 | -€76,058 | -9.0% |
| Operating profit (loss) | 9901 | €171,888 | €94,761 | -€77,127 | -44.9% |
| Financial income | 75/76B | €4,730 | €4,415 | -€315 | -6.7% |
| Recurring financial income | 75 | €4,730 | €4,415 | -€315 | -6.7% |
| Financial charges | 65/66B | €61,540 | €44,478 | -€17,062 | -27.7% |
| Recurring financial charges | 65 | €61,540 | €44,478 | -€17,062 | -27.7% |
| Profit (loss) for the period before taxes | 9903 | €115,078 | €54,698 | -€60,380 | -52.5% |
| Income taxes | 67/77 | €21,200 | €11,776 | -€9,424 | -44.5% |
| Profit (loss) for the period | 9904 | €93,878 | €42,922 | -€50,956 | -54.3% |
| Transfer from tax-exempt reserves | 789 | €1,516 | €1,599 | +€83 | +5.5% |
| Transfer to tax-exempt reserves | 689 | €19,455 | - | -€19,455 | |
| Profit (loss) for the period to be appropriated | 9905 | €75,939 | €44,521 | -€31,418 | -41.4% |
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 5 October 2026 via checked.be.