DUBOEL: 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.
DUBOEL
Largest movements
- Cash +€101,663
up €101,663 (+131.8%), from €77,132 to €178,795
mainly Current investments (+€100,000) and Net result for the year (+€7,285)
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Tangible fixed assets -€5,330
down €5,330 (-3.7%), from €145,356 to €140,026
- Debts after one year -€11,319
down €11,319 (-23.3%), from €48,675 to €37,357
- Profit (loss) carried forward +€10,052
up €10,052 (+6.7%), from €150,933 to €160,985
- Gross operating margin +€1,744
up €1,744 (+12.9%), from €13,536 to €15,280
- Taxes +€464
up €464 (+14.9%), from €3,119 to €3,583
- Financial charges -€216
down €216 (-14.9%), from €1,450 to €1,234
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 | €323,234 | €318,821 | -€4,413 | -1.4% |
| Fixed assets | 21/28 | €145,356 | €140,026 | -€5,330 | -3.7% |
| Tangible fixed assets | 22/27 | €145,356 | €140,026 | -€5,330 | -3.7% |
| Land and buildings | 22 | €145,356 | €140,026 | -€5,330 | -3.7% |
| Current assets | 29/58 | €177,878 | €178,795 | +€917 | +0.5% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €77,132 | €178,795 | +€101,663 | +131.8% |
| Deferred charges and accrued income | 490/1 | €746 | - | -€746 | |
| Total equity and liabilities | 10/49 | €323,234 | €318,821 | -€4,413 | -1.4% |
| Equity | 10/15 | €230,419 | €237,703 | +€7,285 | +3.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €73,286 | €70,518 | -€2,768 | -3.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €71,426 | €68,658 | -€2,768 | -3.9% |
| Profit (loss) carried forward | 14 | €150,933 | €160,985 | +€10,052 | +6.7% |
| Provisions and deferred taxes | 16 | €29,174 | €28,043 | -€1,131 | -3.9% |
| Deferred taxes | 168 | €29,174 | €28,043 | -€1,131 | -3.9% |
| Amounts payable | 17/49 | €63,641 | €53,074 | -€10,567 | -16.6% |
| Amounts payable after more than one year | 17 | €48,675 | €37,357 | -€11,319 | -23.3% |
| Financial debts | 170/4 | €48,675 | €37,357 | -€11,319 | -23.3% |
| Amounts payable within one year | 42/48 | €13,951 | €14,703 | +€752 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €11,097 | €11,319 | +€222 | +2.0% |
| Trade debts | 44 | - | €66 | +€66 | |
| Suppliers | 440/4 | - | €66 | +€66 | |
| Taxes, remuneration and social security | 45 | €2,294 | €2,758 | +€464 | +20.2% |
| Taxes | 450/3 | €2,294 | €2,758 | +€464 | +20.2% |
| Other amounts payable | 47/48 | €560 | €560 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,015 | €1,015 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,330 | €5,330 | = | 0.0% |
| Other operating charges | 640/8 | €1,686 | €1,729 | +€43 | +2.5% |
| Gross operating margin | 9900 | €13,536 | €15,280 | +€1,744 | +12.9% |
| Operating profit (loss) | 9901 | €6,520 | €8,221 | +€1,701 | +26.1% |
| Financial income | 75/76B | €2,750 | €2,750 | = | 0.0% |
| Recurring financial income | 75 | €2,750 | €2,750 | = | 0.0% |
| Financial charges | 65/66B | €1,450 | €1,234 | -€216 | -14.9% |
| Recurring financial charges | 65 | €1,450 | €1,234 | -€216 | -14.9% |
| Profit (loss) for the period before taxes | 9903 | €7,821 | €9,737 | +€1,917 | +24.5% |
| Transfer from deferred taxes | 780 | €1,131 | €1,131 | = | 0.0% |
| Income taxes | 67/77 | €3,119 | €3,583 | +€464 | +14.9% |
| Profit (loss) for the period | 9904 | €5,832 | €7,285 | +€1,453 | +24.9% |
| Transfer from tax-exempt reserves | 789 | €2,768 | €2,768 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €8,600 | €10,052 | +€1,453 | +16.9% |
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 5 October 2026 via checked.be.