DOX NV: 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.
DOX NV
Largest movements
- Stocks and contracts +€606,240
up €606,240 (+77.1%), from €786,438 to €1.4m
of which Contracts in progress: +€632,783
- Cash +€544,434
up €544,434 (+186.6%), from €291,788 to €836,222
mainly Receivables within one year (+€515,061) and Short-term financial debts (+€250,000)
- Receivables within one year -€515,061
down €515,061 (-29.4%), from €1.8m to €1.2m
of which Trade receivables: -€571,895
- Intangible fixed assets +€151,034
up €151,034 (+264.4%), from €57,132 to €208,166
- Tangible fixed assets -€103,442
down €103,442 (-10.4%), from €994,531 to €891,090
of which Land and buildings: -€66,184
- Short-term financial debts +€250,000
up €250,000 (+17.2%), from €1.5m to €1.7m
- Trade debts +€193,212
up €193,212 (+26.6%), from €725,883 to €919,095
- Advances received +€80,812
new in 2025: €80,812
- Debts after one year +€78,374
up €78,374 (+10.9%), from €719,224 to €797,598
- Reserves +€78,338
up €78,338 (+22.4%), from €349,044 to €427,381
of which Distributable reserves: +€78,338
- Gross operating margin +€304,139
up €304,139 (+25.2%), from €1.2m to €1.5m
- Staff costs +€176,221
up €176,221 (+18.6%), from €946,804 to €1.1m
- Financial charges +€43,665
up €43,665 (+44.6%), from €97,816 to €141,481
- Depreciation +€24,250
up €24,250 (+17.1%), from €141,441 to €165,691
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 | €3,893,753 | €4,585,441 | +€691,688 | +17.8% |
| Fixed assets | 21/28 | €1,053,523 | €1,101,116 | +€47,593 | +4.5% |
| Intangible fixed assets | 21 | €57,132 | €208,166 | +€151,034 | +264.4% |
| Tangible fixed assets | 22/27 | €994,531 | €891,090 | -€103,442 | -10.4% |
| Land and buildings | 22 | €512,980 | €446,797 | -€66,184 | -12.9% |
| Plant, machinery and equipment | 23 | €98,741 | €82,713 | -€16,028 | -16.2% |
| Furniture and vehicles | 24 | €83,908 | €67,461 | -€16,447 | -19.6% |
| Other tangible fixed assets | 26 | €298,902 | €294,119 | -€4,783 | -1.6% |
| Financial fixed assets | 28 | €1,859 | €1,859 | = | 0.0% |
| Current assets | 29/58 | €2,840,230 | €3,484,325 | +€644,096 | +22.7% |
| Stocks and contracts in progress | 3 | €786,438 | €1,392,678 | +€606,240 | +77.1% |
| Stocks | 30/36 | €786,438 | €759,896 | -€26,543 | -3.4% |
| Contracts in progress | 37 | - | €632,783 | +€632,783 | |
| Amounts receivable within one year | 40/41 | €1,752,848 | €1,237,787 | -€515,061 | -29.4% |
| Trade receivables | 40 | €1,734,007 | €1,162,112 | -€571,895 | -33.0% |
| Other amounts receivable | 41 | €18,841 | €75,675 | +€56,834 | +301.6% |
| Cash at bank and in hand | 54/58 | €291,788 | €836,222 | +€544,434 | +186.6% |
| Deferred charges and accrued income | 490/1 | €9,155 | €17,638 | +€8,483 | +92.7% |
| Total equity and liabilities | 10/49 | €3,893,753 | €4,585,441 | +€691,688 | +17.8% |
| Equity | 10/15 | €566,794 | €645,131 | +€78,338 | +13.8% |
| Contributions | 10/11 | €217,750 | €217,750 | = | 0.0% |
| Capital | 10 | €217,750 | €217,750 | = | 0.0% |
| Issued capital | 100 | €217,750 | €217,750 | = | 0.0% |
| Reserves | 13 | €349,044 | €427,381 | +€78,338 | +22.4% |
| Non-distributable reserves | 130/1 | €21,775 | €21,775 | = | 0.0% |
| Legal reserve | 130 | €21,775 | €21,775 | = | 0.0% |
| Distributable reserves | 133 | €327,269 | €405,606 | +€78,338 | +23.9% |
| Amounts payable | 17/49 | €3,326,959 | €3,940,309 | +€613,350 | +18.4% |
| Amounts payable after more than one year | 17 | €719,224 | €797,598 | +€78,374 | +10.9% |
| Financial debts | 170/4 | €719,224 | €797,598 | +€78,374 | +10.9% |
| Amounts payable within one year | 42/48 | €2,582,735 | €3,117,711 | +€534,976 | +20.7% |
| Current portion of amounts payable after more than one year | 42 | €70,536 | €114,469 | +€43,933 | +62.3% |
| Financial debts | 43 | €1,450,000 | €1,700,000 | +€250,000 | +17.2% |
| Credit institutions | 430/8 | €1,450,000 | €1,700,000 | +€250,000 | +17.2% |
| Trade debts | 44 | €725,883 | €919,095 | +€193,212 | +26.6% |
| Suppliers | 440/4 | €725,883 | €919,095 | +€193,212 | +26.6% |
| Advances received on contracts in progress | 46 | - | €80,812 | +€80,812 | |
| Taxes, remuneration and social security | 45 | €206,837 | €149,195 | -€57,643 | -27.9% |
| Taxes | 450/3 | €110,407 | €39,339 | -€71,068 | -64.4% |
| Remuneration and social security | 454/9 | €96,431 | €109,855 | +€13,425 | +13.9% |
| Other amounts payable | 47/48 | €129,479 | €154,141 | +€24,662 | +19.0% |
| Accrued charges and deferred income | 492/3 | €25,000 | €25,000 | = | 0.0% |
| Non-recurring operating income | 76A | €4,421 | €0 | -€4,421 | -100.0% |
| Remuneration, social security and pensions | 62 | €946,804 | €1,123,025 | +€176,221 | +18.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €141,441 | €165,691 | +€24,250 | +17.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €24,816 | €21,079 | -€3,737 | -15.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,206,459 | €1,510,598 | +€304,139 | +25.2% |
| Operating profit (loss) | 9901 | €93,399 | €200,803 | +€107,405 | +115.0% |
| Financial income | 75/76B | €14,687 | €19,671 | +€4,984 | +33.9% |
| Recurring financial income | 75 | €14,687 | €19,671 | +€4,984 | +33.9% |
| Financial charges | 65/66B | €97,816 | €141,481 | +€43,665 | +44.6% |
| Recurring financial charges | 65 | €97,816 | €141,481 | +€43,665 | +44.6% |
| Profit (loss) for the period before taxes | 9903 | €10,270 | €78,993 | +€68,723 | +669.2% |
| Income taxes | 67/77 | €769 | €655 | -€114 | -14.8% |
| Profit (loss) for the period | 9904 | €9,500 | €78,338 | +€68,838 | +724.6% |
| Profit (loss) for the period to be appropriated | 9905 | €9,500 | €78,338 | +€68,838 | +724.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.