DUBBLE H: 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.
DUBBLE H
Largest movements
- Receivables within one year -€228,503
down €228,503 (-40.8%), from €560,446 to €331,944
of which Trade receivables: -€231,192
- Cash -€31,755
down €31,755 (-33.1%), from €95,900 to €64,145
mainly Advances received (-€262,475) and Debts after one year (-€66,021)
- Financial fixed assets -€30,000
down €30,000 (-70.9%), from €42,303 to €12,303
- Tangible fixed assets -€29,269
down €29,269 (-13.4%), from €218,572 to €189,303
of which Other tangible fixed assets: -€16,535
- Stocks and contracts -€24,290
down €24,290 (-19.1%), from €127,105 to €102,816
- Advances received -€262,475
down €262,475 (-40.3%), from €650,498 to €388,023
- Debts after one year -€66,021
down €66,021 (-70.4%), from €93,800 to €27,779
- Profit (loss) carried forward -€37,411
down €37,411 (-99.4%), from €37,648 to €238
- Accrued charges and deferred income +€34,435
new in 2025: €34,435
- Gross operating margin -€138,969
down €138,969 (-58.8%), from €236,306 to €97,337
- Staff costs -€22,176
down €22,176 (-13.9%), from €159,307 to €137,131
- Taxes -€12,374
down €12,374, from €10,240 to -€2,134
- Depreciation -€8,136
down €8,136 (-21.8%), from €37,405 to €29,269
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 | €1,054,318 | €713,318 | -€341,000 | -32.3% |
| Fixed assets | 21/28 | €260,874 | €201,605 | -€59,269 | -22.7% |
| Tangible fixed assets | 22/27 | €218,572 | €189,303 | -€29,269 | -13.4% |
| Plant, machinery and equipment | 23 | €39,194 | €34,625 | -€4,569 | -11.7% |
| Furniture and vehicles | 24 | €9,081 | €917 | -€8,164 | -89.9% |
| Other tangible fixed assets | 26 | €170,296 | €153,761 | -€16,535 | -9.7% |
| Financial fixed assets | 28 | €42,303 | €12,303 | -€30,000 | -70.9% |
| Current assets | 29/58 | €793,444 | €511,713 | -€281,731 | -35.5% |
| Stocks and contracts in progress | 3 | €127,105 | €102,816 | -€24,290 | -19.1% |
| Stocks | 30/36 | €127,105 | €102,816 | -€24,290 | -19.1% |
| Amounts receivable within one year | 40/41 | €560,446 | €331,944 | -€228,503 | -40.8% |
| Trade receivables | 40 | €557,822 | €326,630 | -€231,192 | -41.4% |
| Other amounts receivable | 41 | €2,624 | €5,313 | +€2,689 | +102.5% |
| Cash at bank and in hand | 54/58 | €95,900 | €64,145 | -€31,755 | -33.1% |
| Deferred charges and accrued income | 490/1 | €9,993 | €12,808 | +€2,815 | +28.2% |
| Total equity and liabilities | 10/49 | €1,054,318 | €713,318 | -€341,000 | -32.3% |
| Equity | 10/15 | €137,648 | €100,238 | -€37,411 | -27.2% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €37,648 | €238 | -€37,411 | -99.4% |
| Amounts payable | 17/49 | €916,670 | €613,080 | -€303,590 | -33.1% |
| Amounts payable after more than one year | 17 | €93,800 | €27,779 | -€66,021 | -70.4% |
| Financial debts | 170/4 | €93,800 | €27,779 | -€66,021 | -70.4% |
| Amounts payable within one year | 42/48 | €822,870 | €550,867 | -€272,003 | -33.1% |
| Current portion of amounts payable after more than one year | 42 | €65,118 | €66,021 | +€904 | +1.4% |
| Trade debts | 44 | €70,165 | €63,833 | -€6,332 | -9.0% |
| Suppliers | 440/4 | €70,165 | €63,833 | -€6,332 | -9.0% |
| Advances received on contracts in progress | 46 | €650,498 | €388,023 | -€262,475 | -40.3% |
| Taxes, remuneration and social security | 45 | €31,688 | €31,935 | +€246 | +0.8% |
| Taxes | 450/3 | €12,871 | €10,353 | -€2,518 | -19.6% |
| Remuneration and social security | 454/9 | €18,817 | €21,581 | +€2,764 | +14.7% |
| Other amounts payable | 47/48 | €5,401 | €1,055 | -€4,346 | -80.5% |
| Accrued charges and deferred income | 492/3 | - | €34,435 | +€34,435 | |
| Non-recurring operating income | 76A | €3,027 | €3,850 | +€823 | +27.2% |
| Remuneration, social security and pensions | 62 | €159,307 | €137,131 | -€22,176 | -13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,405 | €29,269 | -€8,136 | -21.8% |
| Other operating charges | 640/8 | €2,059 | €2,285 | +€226 | +11.0% |
| Gross operating margin | 9900 | €236,306 | €97,337 | -€138,969 | -58.8% |
| Operating profit (loss) | 9901 | €37,534 | -€71,348 | -€108,882 | |
| Financial income | 75/76B | €37,269 | €35,076 | -€2,194 | -5.9% |
| Recurring financial income | 75 | €37,269 | €29,449 | -€7,821 | -21.0% |
| Non-recurring financial income | 76B | - | €5,627 | +€5,627 | |
| Financial charges | 65/66B | €5,305 | €3,273 | -€2,032 | -38.3% |
| Recurring financial charges | 65 | €5,305 | €3,273 | -€2,032 | -38.3% |
| Profit (loss) for the period before taxes | 9903 | €69,499 | -€39,545 | -€109,044 | |
| Income taxes | 67/77 | €10,240 | -€2,134 | -€12,374 | |
| Profit (loss) for the period | 9904 | €59,259 | -€37,411 | -€96,670 | |
| Profit (loss) for the period to be appropriated | 9905 | €59,259 | -€37,411 | -€96,670 |
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 4 October 2026 via checked.be.