DOUX: 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
DOUX
NACE 10.712, Artisanal bread and fresh pastry making
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€73,242
2024 · €92,613-€19,372
Equity
€65,500
2024 · €158,113-€92,613
Cash
€123,778
2024 · €127,990-€4,212
Balance sheet total
€503,089
2024 · €543,389-€40,299
Largest movements
Assets
- Tangible fixed assets -€42,127
down €42,127 (-10.7%), from €395,254 to €353,127
- Receivables within one year +€6,088
up €6,088 (+724.6%), from €840 to €6,929
Equity and liabilities
- Reserves -€92,613
down €92,613 (-66.4%), from €139,513 to €46,900
- Other debts +€70,222
up €70,222 (+107.6%), from €65,244 to €135,466
- Debts after one year -€30,997
down €30,997 (-12.6%), from €245,310 to €214,314
- Trade debts +€17,488
up €17,488 (+205.9%), from €8,493 to €25,981
Income statement
- Gross operating margin -€21,677
down €21,677 (-7.3%), from €297,415 to €275,738
- Taxes -€6,260
down €6,260 (-25.6%), from €24,445 to €18,185
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
€92,613
Gross operating margin
-€21,677
Staff costs
-€1,095
Depreciation
-€1,714
Other operating charges
-€100
Other operating items
-€1,453
Financial income
-€856
Financial charges
+€1,263
Taxes
+€6,260
Result 2025
€73,242
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
+€206,460
Investment
-€11,338
Financing
-€199,334
Cash 2024
€127,990
From operations (derived)
+€206,460
Net result for the year
+€73,242
Depreciation
+€53,465
Smaller working-capital items
+€48
Receivables within one year
-€6,088
Trade debts
+€17,488
Tax, wage and social debts
-€1,487
Other debts
+€70,222
Accrued charges and deferred income
-€430
Investment (derived)
-€11,338
Investment in fixed assets (net)
-€11,338
Financing
-€199,334
Debts after one year
-€30,997
Current portion of long-term debt
-€2,483
Contributions, distributions and other
-€165,855
Cash 2025
€123,778
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €543,389 | €503,089 | -€40,299 | -7.4% |
| Fixed assets | 21/28 | €395,254 | €353,127 | -€42,127 | -10.7% |
| Tangible fixed assets | 22/27 | €395,254 | €353,127 | -€42,127 | -10.7% |
| Land and buildings | 22 | €224,417 | €207,177 | -€17,240 | -7.7% |
| Plant, machinery and equipment | 23 | €115,241 | €104,322 | -€10,919 | -9.5% |
| Furniture and vehicles | 24 | €55,596 | €41,628 | -€13,968 | -25.1% |
| Current assets | 29/58 | €148,134 | €149,962 | +€1,828 | +1.2% |
| Stocks and contracts in progress | 3 | €15,922 | €15,713 | -€209 | -1.3% |
| Stocks | 30/36 | €15,922 | €15,713 | -€209 | -1.3% |
| Amounts receivable within one year | 40/41 | €840 | €6,929 | +€6,088 | +724.6% |
| Other amounts receivable | 41 | €840 | €6,929 | +€6,088 | +724.6% |
| Cash at bank and in hand | 54/58 | €127,990 | €123,778 | -€4,212 | -3.3% |
| Deferred charges and accrued income | 490/1 | €3,382 | €3,543 | +€161 | +4.8% |
| Total equity and liabilities | 10/49 | €543,389 | €503,089 | -€40,299 | -7.4% |
| Equity | 10/15 | €158,113 | €65,500 | -€92,613 | -58.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €139,513 | €46,900 | -€92,613 | -66.4% |
| Distributable reserves | 133 | €139,513 | €46,900 | -€92,613 | -66.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €385,275 | €437,589 | +€52,314 | +13.6% |
| Amounts payable after more than one year | 17 | €245,310 | €214,314 | -€30,997 | -12.6% |
| Financial debts | 170/4 | €245,310 | €214,314 | -€30,997 | -12.6% |
| Amounts payable within one year | 42/48 | €135,758 | €219,499 | +€83,741 | +61.7% |
| Current portion of amounts payable after more than one year | 42 | €33,479 | €30,997 | -€2,483 | -7.4% |
| Trade debts | 44 | €8,493 | €25,981 | +€17,488 | +205.9% |
| Suppliers | 440/4 | €8,493 | €25,981 | +€17,488 | +205.9% |
| Taxes, remuneration and social security | 45 | €28,542 | €27,055 | -€1,487 | -5.2% |
| Taxes | 450/3 | €3,566 | €3,549 | -€17 | -0.5% |
| Remuneration and social security | 454/9 | €24,976 | €23,506 | -€1,470 | -5.9% |
| Other amounts payable | 47/48 | €65,244 | €135,466 | +€70,222 | +107.6% |
| Accrued charges and deferred income | 492/3 | €4,207 | €3,777 | -€430 | -10.2% |
| Non-recurring operating income | 76A | €3,375 | €0 | -€3,375 | -100.0% |
| Remuneration, social security and pensions | 62 | €114,682 | €115,777 | +€1,095 | +1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,752 | €53,465 | +€1,714 | +3.3% |
| Other operating charges | 640/8 | €2,610 | €2,709 | +€100 | +3.8% |
| Non-recurring operating charges | 66A | €0 | €1,453 | +€1,453 | |
| Gross operating margin | 9900 | €297,415 | €275,738 | -€21,677 | -7.3% |
| Operating profit (loss) | 9901 | €128,372 | €102,334 | -€26,038 | -20.3% |
| Financial income | 75/76B | €1,236 | €380 | -€856 | -69.2% |
| Recurring financial income | 75 | €1,236 | €380 | -€856 | -69.2% |
| Financial charges | 65/66B | €12,550 | €11,287 | -€1,263 | -10.1% |
| Recurring financial charges | 65 | €12,550 | €11,287 | -€1,263 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | €117,058 | €91,427 | -€25,631 | -21.9% |
| Income taxes | 67/77 | €24,445 | €18,185 | -€6,260 | -25.6% |
| Profit (loss) for the period | 9904 | €92,613 | €73,242 | -€19,372 | -20.9% |
| Profit (loss) for the period to be appropriated | 9905 | €92,613 | €73,242 | -€19,372 | -20.9% |
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.