DUBO: 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.
What changed
DUBO
NACE 25.120, Manufacture of fabricated metal products, except machinery and equipment
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€16,966
2024 · -€263,863+€246,897
Equity
€1.9m
2024 · €1.9m-€16,966
Cash
€502,733
2024 · €1.0m-€524,251
Balance sheet total
€2.3m
2024 · €2.6m-€228,361
Largest movements
Assets
- Cash -€524,251
down €524,251 (-51.0%), from €1.0m to €502,733
mainly Current investments (-€400,000) and Trade debts (-€273,622)
- Current investments +€400,000
new in 2025: €400,000
- Receivables within one year -€213,113
down €213,113 (-27.9%), from €762,611 to €549,499
of which Trade receivables: -€128,043
- Stocks and contracts +€93,930
up €93,930 (+16.6%), from €565,833 to €659,764
Equity and liabilities
- Trade debts -€273,622
down €273,622 (-57.9%), from €472,308 to €198,687
Income statement
- Staff costs -€431,467
down €431,467 (-33.5%), from €1.3m to €855,329
- Gross operating margin -€140,329
down €140,329 (-13.3%), from €1.1m to €914,024
- Financial income -€52,072
down €52,072 (-83.5%), from €62,392 to €10,319
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.
Result 2024
-€263,863
Gross operating margin
-€140,329
Staff costs
+€431,467
Depreciation
+€1,642
Write-downs
-€808
Other operating charges
-€435
Other operating items
+€2,739
Financial income
-€52,072
Financial charges
+€4,500
Taxes
+€192
Result 2025
-€16,966
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€76,426
Investment
-€478,546
Financing
+€30,720
Cash 2024
€1.0m
From operations (derived)
-€76,426
Net result for the year
-€16,966
Depreciation
+€71,124
Stocks and contracts
-€93,930
Receivables within one year
+€213,113
Deferred charges and accrued income
-€7,651
Trade debts
-€273,622
Tax, wage and social debts
+€19,535
Accrued charges and deferred income
+€11,972
Investment (derived)
-€478,546
Investment in fixed assets (net)
-€78,546
Current investments
-€400,000
Financing
+€30,720
Debts after one year
+€23,699
Current portion of long-term debt
+€7,021
Cash 2025
€502,733
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,551,542 | €2,323,181 | -€228,361 | -8.9% |
| Fixed assets | 21/28 | €183,538 | €190,960 | +€7,422 | +4.0% |
| Intangible fixed assets | 21 | - | €24,522 | +€24,522 | |
| Tangible fixed assets | 22/27 | €183,403 | €166,303 | -€17,100 | -9.3% |
| Land and buildings | 22 | €13,207 | €17,763 | +€4,556 | +34.5% |
| Plant, machinery and equipment | 23 | €78,771 | €45,934 | -€32,837 | -41.7% |
| Furniture and vehicles | 24 | €17,959 | €41,984 | +€24,026 | +134% |
| Other tangible fixed assets | 26 | €73,467 | €60,622 | -€12,844 | -17.5% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €2,368,004 | €2,132,221 | -€235,782 | -10.0% |
| Stocks and contracts in progress | 3 | €565,833 | €659,764 | +€93,930 | +16.6% |
| Stocks | 30/36 | €565,833 | €659,764 | +€93,930 | +16.6% |
| Amounts receivable within one year | 40/41 | €762,611 | €549,499 | -€213,113 | -27.9% |
| Trade receivables | 40 | €627,196 | €499,153 | -€128,043 | -20.4% |
| Other amounts receivable | 41 | €135,415 | €50,346 | -€85,069 | -62.8% |
| Current investments | 50/53 | - | €400,000 | +€400,000 | |
| Cash at bank and in hand | 54/58 | €1,026,984 | €502,733 | -€524,251 | -51.0% |
| Deferred charges and accrued income | 490/1 | €12,575 | €20,226 | +€7,651 | +60.8% |
| Total equity and liabilities | 10/49 | €2,551,542 | €2,323,181 | -€228,361 | -8.9% |
| Equity | 10/15 | €1,946,300 | €1,929,335 | -€16,966 | -0.9% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €988,033 | €988,033 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Distributable reserves | 133 | €975,533 | €975,533 | = | 0.0% |
| Profit (loss) carried forward | 14 | €833,267 | €816,302 | -€16,966 | -2.0% |
| Amounts payable | 17/49 | €605,242 | €393,847 | -€211,395 | -34.9% |
| Amounts payable after more than one year | 17 | - | €23,699 | +€23,699 | |
| Financial debts | 170/4 | - | €23,699 | +€23,699 | |
| Amounts payable within one year | 42/48 | €570,325 | €323,259 | -€247,066 | -43.3% |
| Current portion of amounts payable after more than one year | 42 | - | €7,021 | +€7,021 | |
| Trade debts | 44 | €472,308 | €198,687 | -€273,622 | -57.9% |
| Suppliers | 440/4 | €472,308 | €198,687 | -€273,622 | -57.9% |
| Taxes, remuneration and social security | 45 | €87,878 | €107,413 | +€19,535 | +22.2% |
| Taxes | 450/3 | €1,457 | €1,119 | -€338 | -23.2% |
| Remuneration and social security | 454/9 | €86,421 | €106,294 | +€19,873 | +23.0% |
| Other amounts payable | 47/48 | €10,138 | €10,138 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €34,917 | €46,889 | +€11,972 | +34.3% |
| Non-recurring operating income | 76A | €1,813 | €0 | -€1,813 | -100% |
| Remuneration, social security and pensions | 62 | €1,286,796 | €855,329 | -€431,467 | -33.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €72,766 | €71,124 | -€1,642 | -2.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,468 | €3,275 | +€808 | +32.7% |
| Other operating charges | 640/8 | €5,575 | €6,010 | +€435 | +7.8% |
| Non-recurring operating charges | 66A | €2,739 | €0 | -€2,739 | -100% |
| Gross operating margin | 9900 | €1,054,353 | €914,024 | -€140,329 | -13.3% |
| Operating profit (loss) | 9901 | -€315,992 | -€21,714 | +€294,277 | +93.1% |
| Financial income | 75/76B | €62,392 | €10,319 | -€52,072 | -83.5% |
| Recurring financial income | 75 | €62,392 | €10,319 | -€52,072 | -83.5% |
| Financial charges | 65/66B | €9,065 | €4,564 | -€4,500 | -49.6% |
| Recurring financial charges | 65 | €9,065 | €4,564 | -€4,500 | -49.6% |
| Profit (loss) for the period before taxes | 9903 | -€262,665 | -€15,959 | +€246,705 | +93.9% |
| Income taxes | 67/77 | €1,198 | €1,006 | -€192 | -16.0% |
| Profit (loss) for the period | 9904 | -€263,863 | -€16,966 | +€246,897 | +93.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€263,863 | -€16,966 | +€246,897 | +93.6% |
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 18 October 2026 via checked.be.