DUBACO: 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.
DUBACO
Largest movements
- Financial fixed assets +€650,000
up €650,000 (+118.1%), from €550,373 to €1.2m
- Current investments -€550,000
down €550,000 (-36.1%), from €1.5m to €972,153
- Receivables within one year +€176,276
up €176,276 (+52.9%), from €333,490 to €509,765
of which Other amounts receivable: +€356,063
- Reserves +€217,988
up €217,988 (+7.4%), from €3.0m to €3.2m
of which Distributable reserves: +€217,988
- Trade debts +€64,437
up €64,437 (+3370.4%), from €1,912 to €66,349
- Gross operating margin -€207,253
down €207,253 (-71.0%), from €291,703 to €84,450
- Financial income +€118,650
up €118,650 (+224.6%), from €52,830 to €171,480
- Other operating charges -€22,993
down €22,993 (-92.3%), from €24,912 to €1,918
- Depreciation -€13,293
down €13,293 (-60.0%), from €22,153 to €8,860
- Taxes -€10,774
down €10,774 (-28.8%), from €37,356 to €26,582
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 | €3,119,537 | €3,405,566 | +€286,029 | +9.2% |
| Fixed assets | 21/28 | €1,150,738 | €1,791,878 | +€641,140 | +55.7% |
| Tangible fixed assets | 22/27 | €600,365 | €591,505 | -€8,860 | -1.5% |
| Land and buildings | 22 | €600,365 | €591,505 | -€8,860 | -1.5% |
| Financial fixed assets | 28 | €550,373 | €1,200,373 | +€650,000 | +118.1% |
| Current assets | 29/58 | €1,968,799 | €1,613,688 | -€355,111 | -18.0% |
| Amounts receivable within one year | 40/41 | €333,490 | €509,765 | +€176,276 | +52.9% |
| Trade receivables | 40 | €311,912 | €132,124 | -€179,788 | -57.6% |
| Other amounts receivable | 41 | €21,578 | €377,641 | +€356,063 | +1650.1% |
| Current investments | 50/53 | €1,522,153 | €972,153 | -€550,000 | -36.1% |
| Cash at bank and in hand | 54/58 | €109,804 | €127,269 | +€17,465 | +15.9% |
| Deferred charges and accrued income | 490/1 | €3,352 | €4,501 | +€1,149 | +34.3% |
| Total equity and liabilities | 10/49 | €3,119,537 | €3,405,566 | +€286,029 | +9.2% |
| Equity | 10/15 | €3,096,028 | €3,314,016 | +€217,988 | +7.0% |
| Contributions | 10/11 | €134,884 | €134,884 | = | 0.0% |
| Capital | 10 | €125,213 | €125,213 | = | 0.0% |
| Issued capital | 100 | €125,213 | €125,213 | = | 0.0% |
| Outside capital | 11 | €9,671 | €9,671 | = | 0.0% |
| Share premium | 1100/10 | €9,671 | €9,671 | = | 0.0% |
| Reserves | 13 | €2,961,144 | €3,179,132 | +€217,988 | +7.4% |
| Non-distributable reserves | 130/1 | €12,521 | €12,521 | = | 0.0% |
| Legal reserve | 130 | €12,521 | €12,521 | = | 0.0% |
| Distributable reserves | 133 | €2,948,623 | €3,166,611 | +€217,988 | +7.4% |
| Amounts payable | 17/49 | €23,509 | €91,550 | +€68,041 | +289.4% |
| Amounts payable within one year | 42/48 | €23,509 | €90,140 | +€66,631 | +283.4% |
| Trade debts | 44 | €1,912 | €66,349 | +€64,437 | +3370.4% |
| Suppliers | 440/4 | €1,912 | €66,349 | +€64,437 | +3370.4% |
| Taxes, remuneration and social security | 45 | €21,597 | €23,791 | +€2,194 | +10.2% |
| Taxes | 450/3 | €21,597 | €23,791 | +€2,194 | +10.2% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | - | €1,410 | +€1,410 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,153 | €8,860 | -€13,293 | -60.0% |
| Other operating charges | 640/8 | €24,912 | €1,918 | -€22,993 | -92.3% |
| Non-recurring operating charges | 66A | €132,483 | €0 | -€132,483 | -100.0% |
| Gross operating margin | 9900 | €291,703 | €84,450 | -€207,253 | -71.0% |
| Operating profit (loss) | 9901 | €112,155 | €73,672 | -€38,483 | -34.3% |
| Financial income | 75/76B | €52,830 | €171,480 | +€118,650 | +224.6% |
| Recurring financial income | 75 | €52,830 | €171,480 | +€118,650 | +224.6% |
| Financial charges | 65/66B | -€2,965 | €582 | +€3,547 | |
| Recurring financial charges | 65 | -€2,965 | €582 | +€3,547 | |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €167,950 | €244,570 | +€76,620 | +45.6% |
| Income taxes | 67/77 | €37,356 | €26,582 | -€10,774 | -28.8% |
| Profit (loss) for the period | 9904 | €130,594 | €217,988 | +€87,394 | +66.9% |
| Profit (loss) for the period to be appropriated | 9905 | €130,594 | €217,988 | +€87,394 | +66.9% |
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 6 October 2026 via checked.be.