DUAL D & F: what changed
DUAL D & F
Largest movements
- Tangible fixed assets +€158,211
up €158,211 (+20.5%), from €773,407 to €931,619
of which Land and buildings: +€160,846
- Cash -€52,937
down €52,937 (-74.1%), from €71,462 to €18,525
mainly Investment in fixed assets (net) (-€214,457) and Trade debts (-€8,106)
- Debts after one year +€89,491
up €89,491 (+13.7%), from €654,045 to €743,536
- Gross operating margin +€43,080
up €43,080 (+84.0%), from €51,289 to €94,369
- Depreciation +€12,282
up €12,282 (+27.9%), from €43,963 to €56,246
- Other operating charges +€1,489
up €1,489 (+21.3%), from €6,988 to €8,477
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €846,275 | €950,741 | +€104,466 | +12.3% |
| Fixed assets | 21/28 | €773,407 | €931,619 | +€158,211 | +20.5% |
| Tangible fixed assets | 22/27 | €773,407 | €931,619 | +€158,211 | +20.5% |
| Land and buildings | 22 | €503,545 | €664,391 | +€160,846 | +31.9% |
| Plant, machinery and equipment | 23 | €269,862 | €267,227 | -€2,635 | -1.0% |
| Current assets | 29/58 | €72,867 | €19,122 | -€53,745 | -73.8% |
| Cash at bank and in hand | 54/58 | €71,462 | €18,525 | -€52,937 | -74.1% |
| Deferred charges and accrued income | 490/1 | €1,405 | €597 | -€809 | -57.5% |
| Total equity and liabilities | 10/49 | €846,275 | €950,741 | +€104,466 | +12.3% |
| Equity | 10/15 | -€50,977 | -€44,161 | +€6,816 | +13.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €32,500 | €32,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€102,077 | -€95,261 | +€6,816 | +6.7% |
| Amounts payable | 17/49 | €897,251 | €994,901 | +€97,650 | +10.9% |
| Amounts payable after more than one year | 17 | €654,045 | €743,536 | +€89,491 | +13.7% |
| Financial debts | 170/4 | €654,045 | €743,536 | +€89,491 | +13.7% |
| Amounts payable within one year | 42/48 | €243,207 | €251,366 | +€8,159 | +3.4% |
| Current portion of amounts payable after more than one year | 42 | €56,793 | €63,882 | +€7,089 | +12.5% |
| Trade debts | 44 | €14,212 | €6,106 | -€8,106 | -57.0% |
| Suppliers | 440/4 | €14,212 | €6,106 | -€8,106 | -57.0% |
| Other amounts payable | 47/48 | €172,202 | €181,378 | +€9,176 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,963 | €56,246 | +€12,282 | +27.9% |
| Other operating charges | 640/8 | €6,988 | €8,477 | +€1,489 | +21.3% |
| Gross operating margin | 9900 | €51,289 | €94,369 | +€43,080 | +84.0% |
| Operating profit (loss) | 9901 | €337 | €29,646 | +€29,309 | +8,690% |
| Financial income | 75/76B | - | €84 | +€84 | |
| Recurring financial income | 75 | - | €84 | +€84 | |
| Financial charges | 65/66B | €23,460 | €22,914 | -€546 | -2.3% |
| Recurring financial charges | 65 | €23,460 | €22,914 | -€546 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | -€23,123 | €6,816 | +€29,939 | |
| Profit (loss) for the period | 9904 | -€23,123 | €6,816 | +€29,939 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,123 | €6,816 | +€29,939 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.