DUBBEL: 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.
DUBBEL
Largest movements
- Cash -€400,324
down €400,324 (-47.0%), from €851,044 to €450,720
mainly Contributions, distributions and other (-€550,000) and Other debts (-€325,817)
- Stocks and contracts +€67,509
up €67,509 (+23.9%), from €282,179 to €349,688
- Other debts -€325,817
down €325,817 (-67.0%), from €486,170 to €160,353
- Tax, wage and social debts -€50,747
down €50,747 (-18.3%), from €276,963 to €226,216
of which Remuneration and social security: -€45,370
- Reserves +€36,623
up €36,623 (+13.5%), from €271,515 to €308,138
of which Distributable reserves: +€36,623
- Gross operating margin +€110,183
up €110,183 (+7.5%), from €1.5m to €1.6m
- Taxes +€25,518
up €25,518 (+13.9%), from €183,431 to €208,949
- Staff costs +€20,471
up €20,471 (+2.8%), from €719,191 to €739,662
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.
Derived cash bridge
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 | €1,283,666 | €938,529 | -€345,137 | -26.9% |
| Fixed assets | 21/28 | €53,831 | €42,617 | -€11,214 | -20.8% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €53,831 | €42,617 | -€11,214 | -20.8% |
| Land and buildings | 22 | €1,551 | €1,946 | +€395 | +25.5% |
| Plant, machinery and equipment | 23 | €37,916 | €27,670 | -€10,246 | -27.0% |
| Furniture and vehicles | 24 | €14,364 | €13,001 | -€1,363 | -9.5% |
| Current assets | 29/58 | €1,229,835 | €895,912 | -€333,923 | -27.2% |
| Stocks and contracts in progress | 3 | €282,179 | €349,688 | +€67,509 | +23.9% |
| Stocks | 30/36 | €282,179 | €349,688 | +€67,509 | +23.9% |
| Amounts receivable within one year | 40/41 | €96,612 | €95,199 | -€1,413 | -1.5% |
| Trade receivables | 40 | €81,942 | €74,900 | -€7,042 | -8.6% |
| Other amounts receivable | 41 | €14,670 | €20,299 | +€5,629 | +38.4% |
| Cash at bank and in hand | 54/58 | €851,044 | €450,720 | -€400,324 | -47.0% |
| Deferred charges and accrued income | 490/1 | - | €305 | +€305 | |
| Total equity and liabilities | 10/49 | €1,283,666 | €938,529 | -€345,137 | -26.9% |
| Equity | 10/15 | €290,115 | €326,738 | +€36,623 | +12.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €271,515 | €308,138 | +€36,623 | +13.5% |
| Tax-exempt reserves | 132 | €196 | €196 | = | 0.0% |
| Distributable reserves | 133 | €271,319 | €307,942 | +€36,623 | +13.5% |
| Amounts payable | 17/49 | €993,551 | €611,791 | -€381,760 | -38.4% |
| Amounts payable after more than one year | 17 | €10,992 | - | -€10,992 | |
| Financial debts | 170/4 | €10,992 | - | -€10,992 | |
| Amounts payable within one year | 42/48 | €957,343 | €586,791 | -€370,552 | -38.7% |
| Current portion of amounts payable after more than one year | 42 | €129,002 | €132,063 | +€3,061 | +2.4% |
| Trade debts | 44 | €57,706 | €68,159 | +€10,453 | +18.1% |
| Suppliers | 440/4 | €57,706 | €68,159 | +€10,453 | +18.1% |
| Advances received on contracts in progress | 46 | €7,502 | - | -€7,502 | |
| Taxes, remuneration and social security | 45 | €276,963 | €226,216 | -€50,747 | -18.3% |
| Taxes | 450/3 | €150,146 | €144,769 | -€5,377 | -3.6% |
| Remuneration and social security | 454/9 | €126,817 | €81,447 | -€45,370 | -35.8% |
| Other amounts payable | 47/48 | €486,170 | €160,353 | -€325,817 | -67.0% |
| Accrued charges and deferred income | 492/3 | €25,216 | €25,000 | -€216 | -0.9% |
| Non-recurring operating income | 76A | €16,115 | - | -€16,115 | |
| Remuneration, social security and pensions | 62 | €719,191 | €739,662 | +€20,471 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,244 | €24,727 | -€2,517 | -9.2% |
| Other operating charges | 640/8 | €16,073 | €19,001 | +€2,928 | +18.2% |
| Gross operating margin | 9900 | €1,474,626 | €1,584,809 | +€110,183 | +7.5% |
| Operating profit (loss) | 9901 | €712,118 | €801,419 | +€89,301 | +12.5% |
| Financial income | 75/76B | €1,194 | €820 | -€374 | -31.3% |
| Recurring financial income | 75 | €1,194 | €820 | -€374 | -31.3% |
| Financial charges | 65/66B | €7,715 | €6,667 | -€1,048 | -13.6% |
| Recurring financial charges | 65 | €7,715 | €6,667 | -€1,048 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €705,597 | €795,572 | +€89,975 | +12.8% |
| Income taxes | 67/77 | €183,431 | €208,949 | +€25,518 | +13.9% |
| Profit (loss) for the period | 9904 | €522,166 | €586,623 | +€64,457 | +12.3% |
| Profit (loss) for the period to be appropriated | 9905 | €522,166 | €586,623 | +€64,457 | +12.3% |
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 24 October 2026 via checked.be.