DUBELDIS: 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.
DUBELDIS
Largest movements
- Stocks and contracts +€70,815
up €70,815 (+36.8%), from €192,679 to €263,494
- Tangible fixed assets -€47,176
down €47,176 (-34.9%), from €135,193 to €88,016
of which Other tangible fixed assets: -€25,394
- Receivables within one year +€34,241
up €34,241 (+235.0%), from €14,571 to €48,812
of which Other amounts receivable: +€22,877
- Trade debts +€76,759
up €76,759 (+26.5%), from €289,463 to €366,222
- Profit (loss) carried forward -€39,660
down €39,660 (-58.5%), from €67,820 to €28,160
- Accrued charges and deferred income +€24,194
up €24,194 (+199.5%), from €12,129 to €36,323
- Gross operating margin -€119,010
down €119,010 (-30.4%), from €391,166 to €272,156
- Taxes -€16,929
down €16,929 (-88.7%), from €19,093 to €2,165
- Staff costs -€12,291
down €12,291 (-4.8%), from €256,477 to €244,187
- Other operating charges +€5,574
up €5,574 (+921.8%), from €605 to €6,179
- Depreciation -€4,001
down €4,001 (-6.9%), from €58,057 to €54,056
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 | €648,936 | €704,261 | +€55,325 | +8.5% |
| Fixed assets | 21/28 | €135,556 | €88,379 | -€47,176 | -34.8% |
| Tangible fixed assets | 22/27 | €135,193 | €88,016 | -€47,176 | -34.9% |
| Plant, machinery and equipment | 23 | €70,831 | €46,163 | -€24,668 | -34.8% |
| Furniture and vehicles | 24 | - | €2,886 | +€2,886 | |
| Other tangible fixed assets | 26 | €64,362 | €38,968 | -€25,394 | -39.5% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €513,381 | €615,882 | +€102,501 | +20.0% |
| Stocks and contracts in progress | 3 | €192,679 | €263,494 | +€70,815 | +36.8% |
| Stocks | 30/36 | €192,679 | €263,494 | +€70,815 | +36.8% |
| Amounts receivable within one year | 40/41 | €14,571 | €48,812 | +€34,241 | +235.0% |
| Trade receivables | 40 | €10,660 | €22,025 | +€11,364 | +106.6% |
| Other amounts receivable | 41 | €3,910 | €26,787 | +€22,877 | +585.0% |
| Cash at bank and in hand | 54/58 | €301,401 | €296,512 | -€4,889 | -1.6% |
| Deferred charges and accrued income | 490/1 | €4,731 | €7,064 | +€2,334 | +49.3% |
| Total equity and liabilities | 10/49 | €648,936 | €704,261 | +€55,325 | +8.5% |
| Equity | 10/15 | €317,820 | €278,160 | -€39,660 | -12.5% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €67,820 | €28,160 | -€39,660 | -58.5% |
| Amounts payable | 17/49 | €331,117 | €426,101 | +€94,984 | +28.7% |
| Amounts payable within one year | 42/48 | €318,988 | €389,778 | +€70,790 | +22.2% |
| Trade debts | 44 | €289,463 | €366,222 | +€76,759 | +26.5% |
| Suppliers | 440/4 | €289,463 | €366,222 | +€76,759 | +26.5% |
| Taxes, remuneration and social security | 45 | €29,525 | €23,556 | -€5,969 | -20.2% |
| Taxes | 450/3 | €535 | €538 | +€3 | +0.6% |
| Remuneration and social security | 454/9 | €28,990 | €23,018 | -€5,972 | -20.6% |
| Accrued charges and deferred income | 492/3 | €12,129 | €36,323 | +€24,194 | +199.5% |
| Remuneration, social security and pensions | 62 | €256,477 | €244,187 | -€12,291 | -4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €58,057 | €54,056 | -€4,001 | -6.9% |
| Other operating charges | 640/8 | €605 | €6,179 | +€5,574 | +921.8% |
| Gross operating margin | 9900 | €391,166 | €272,156 | -€119,010 | -30.4% |
| Operating profit (loss) | 9901 | €76,027 | -€32,265 | -€108,293 | |
| Financial income | 75/76B | €907 | €136 | -€771 | -85.0% |
| Recurring financial income | 75 | €907 | €136 | -€771 | -85.0% |
| Financial charges | 65/66B | €6,000 | €5,366 | -€634 | -10.6% |
| Recurring financial charges | 65 | €6,000 | €5,366 | -€634 | -10.6% |
| Profit (loss) for the period before taxes | 9903 | €70,934 | -€37,495 | -€108,429 | |
| Income taxes | 67/77 | €19,093 | €2,165 | -€16,929 | -88.7% |
| Profit (loss) for the period | 9904 | €51,841 | -€39,660 | -€91,500 | |
| Profit (loss) for the period to be appropriated | 9905 | €51,841 | -€39,660 | -€91,500 |
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 3 October 2026 via checked.be.