DOWI: 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.
DOWI
Largest movements
- Stocks and contracts +€64,095
up €64,095 (+8.7%), from €739,750 to €803,845
of which Contracts in progress: +€62,700
- Receivables within one year -€41,649
down €41,649 (-25.1%), from €166,175 to €124,526
of which Other amounts receivable: -€35,342
- Tangible fixed assets -€21,572
down €21,572 (-21.5%), from €100,451 to €78,879
of which Other tangible fixed assets: -€13,027
- Other debts +€126,967
up €126,967 (+29.7%), from €427,995 to €554,962
- Profit (loss) carried forward -€85,521
down €85,521 (-71.6%), from -€119,385 to -€204,906
- Trade debts -€28,103
down €28,103 (-36.6%), from €76,698 to €48,596
- Debts after one year -€17,776
down €17,776 (-32.7%), from €54,377 to €36,601
- Short-term financial debts +€17,028
up €17,028 (+3.6%), from €467,972 to €485,000
- Gross operating margin -€113,642
down €113,642, from €75,573 to -€38,069
- Depreciation -€10,777
down €10,777 (-33.3%), from €32,350 to €21,572
- Financial charges -€3,978
down €3,978 (-13.8%), from €28,787 to €24,809
- Other operating charges -€1,120
down €1,120 (-46.0%), from €2,435 to €1,315
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 | €1,009,784 | €1,009,539 | -€246 | 0.0% |
| Fixed assets | 21/28 | €102,004 | €80,432 | -€21,572 | -21.1% |
| Tangible fixed assets | 22/27 | €100,451 | €78,879 | -€21,572 | -21.5% |
| Furniture and vehicles | 24 | €1,429 | €715 | -€715 | -50.0% |
| Leasing and similar rights | 25 | €7,831 | €0 | -€7,831 | -100.0% |
| Other tangible fixed assets | 26 | €91,192 | €78,164 | -€13,027 | -14.3% |
| Financial fixed assets | 28 | €1,553 | €1,553 | = | 0.0% |
| Current assets | 29/58 | €907,780 | €929,107 | +€21,327 | +2.3% |
| Stocks and contracts in progress | 3 | €739,750 | €803,845 | +€64,095 | +8.7% |
| Stocks | 30/36 | €9,750 | €11,145 | +€1,395 | +14.3% |
| Contracts in progress | 37 | €730,000 | €792,700 | +€62,700 | +8.6% |
| Amounts receivable within one year | 40/41 | €166,175 | €124,526 | -€41,649 | -25.1% |
| Trade receivables | 40 | €6,307 | €0 | -€6,307 | -100.0% |
| Other amounts receivable | 41 | €159,868 | €124,526 | -€35,342 | -22.1% |
| Cash at bank and in hand | 54/58 | €1,855 | €736 | -€1,119 | -60.3% |
| Total equity and liabilities | 10/49 | €1,009,784 | €1,009,539 | -€246 | 0.0% |
| Equity | 10/15 | -€47,885 | -€133,406 | -€85,521 | -178.6% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €6,500 | €6,500 | = | 0.0% |
| Distributable reserves | 133 | €6,500 | €6,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€119,385 | -€204,906 | -€85,521 | -71.6% |
| Amounts payable | 17/49 | €1,057,670 | €1,142,945 | +€85,276 | +8.1% |
| Amounts payable after more than one year | 17 | €54,377 | €36,601 | -€17,776 | -32.7% |
| Financial debts | 170/4 | €54,377 | €36,601 | -€17,776 | -32.7% |
| Amounts payable within one year | 42/48 | €1,003,292 | €1,106,344 | +€103,052 | +10.3% |
| Current portion of amounts payable after more than one year | 42 | €26,437 | €17,776 | -€8,661 | -32.8% |
| Financial debts | 43 | €467,972 | €485,000 | +€17,028 | +3.6% |
| Credit institutions | 430/8 | €467,972 | €485,000 | +€17,028 | +3.6% |
| Trade debts | 44 | €76,698 | €48,596 | -€28,103 | -36.6% |
| Suppliers | 440/4 | €76,698 | €48,596 | -€28,103 | -36.6% |
| Taxes, remuneration and social security | 45 | €4,189 | €10 | -€4,179 | -99.8% |
| Taxes | 450/3 | €4,189 | €10 | -€4,179 | -99.8% |
| Other amounts payable | 47/48 | €427,995 | €554,962 | +€126,967 | +29.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,350 | €21,572 | -€10,777 | -33.3% |
| Other operating charges | 640/8 | €2,435 | €1,315 | -€1,120 | -46.0% |
| Non-recurring operating charges | 66A | €9,064 | €0 | -€9,064 | -100.0% |
| Gross operating margin | 9900 | €75,573 | -€38,069 | -€113,642 | |
| Operating profit (loss) | 9901 | €31,725 | -€60,956 | -€92,681 | |
| Financial income | 75/76B | €1 | €244 | +€243 | +23372.1% |
| Recurring financial income | 75 | €1 | €244 | +€243 | +23372.1% |
| Financial charges | 65/66B | €28,787 | €24,809 | -€3,978 | -13.8% |
| Recurring financial charges | 65 | €28,787 | €24,809 | -€3,978 | -13.8% |
| Profit (loss) for the period before taxes | 9903 | €2,939 | -€85,521 | -€88,460 | |
| Profit (loss) for the period | 9904 | €2,939 | -€85,521 | -€88,460 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,939 | -€85,521 | -€88,460 |
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 10 October 2026 via checked.be.