DUEL CONCEPT: 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.
DUEL CONCEPT
Largest movements
- Cash +€522,477
up €522,477 (+2840.5%), from €18,394 to €540,871
mainly Receivables within one year (+€375,244) and Other debts (+€87,953)
- Receivables within one year -€375,244
down €375,244 (-54.4%), from €689,819 to €314,575
- Other debts +€87,953
up €87,953 (+13.5%), from €653,242 to €741,195
- Reserves +€45,556
up €45,556 (+162.2%), from €28,085 to €73,641
of which Distributable reserves: +€45,556
- Tax, wage and social debts +€11,895
up €11,895 (+306.0%), from €3,887 to €15,782
- Gross operating margin +€102,228
up €102,228 (+1180.6%), from €8,659 to €110,887
- Taxes +€32,582
up €32,582 (+2787.2%), from €1,169 to €33,751
- Financial income +€2,271
up €2,271 (+94.0%), from €2,416 to €4,687
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 | €734,875 | €875,876 | +€141,001 | +19.2% |
| Formation expenses | 20 | €729 | €486 | -€243 | -33.3% |
| Fixed assets | 21/28 | €24,940 | €18,754 | -€6,186 | -24.8% |
| Tangible fixed assets | 22/27 | €24,940 | €18,754 | -€6,186 | -24.8% |
| Plant, machinery and equipment | 23 | €4,635 | €4,685 | +€50 | +1.1% |
| Furniture and vehicles | 24 | €20,305 | €14,069 | -€6,236 | -30.7% |
| Current assets | 29/58 | €709,206 | €856,636 | +€147,430 | +20.8% |
| Amounts receivable within one year | 40/41 | €689,819 | €314,575 | -€375,244 | -54.4% |
| Trade receivables | 40 | €689,819 | €314,575 | -€375,244 | -54.4% |
| Cash at bank and in hand | 54/58 | €18,394 | €540,871 | +€522,477 | +2840.5% |
| Deferred charges and accrued income | 490/1 | €993 | €1,190 | +€197 | +19.8% |
| Total equity and liabilities | 10/49 | €734,875 | €875,876 | +€141,001 | +19.2% |
| Equity | 10/15 | €64,961 | €110,517 | +€45,556 | +70.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €28,085 | €73,641 | +€45,556 | +162.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €26,225 | €71,781 | +€45,556 | +173.7% |
| Profit (loss) carried forward | 14 | €18,276 | €18,276 | = | 0.0% |
| Amounts payable | 17/49 | €669,914 | €765,359 | +€95,445 | +14.2% |
| Amounts payable after more than one year | 17 | €8,382 | €4,273 | -€4,109 | -49.0% |
| Financial debts | 170/4 | €8,382 | €4,273 | -€4,109 | -49.0% |
| Amounts payable within one year | 42/48 | €661,532 | €761,086 | +€99,554 | +15.0% |
| Current portion of amounts payable after more than one year | 42 | €3,951 | €4,109 | +€158 | +4.0% |
| Trade debts | 44 | €452 | - | -€452 | |
| Suppliers | 440/4 | €452 | - | -€452 | |
| Taxes, remuneration and social security | 45 | €3,887 | €15,782 | +€11,895 | +306.0% |
| Taxes | 450/3 | €3,887 | €15,782 | +€11,895 | +306.0% |
| Other amounts payable | 47/48 | €653,242 | €741,195 | +€87,953 | +13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,846 | €8,626 | +€780 | +9.9% |
| Other operating charges | 640/8 | €1,019 | €863 | -€156 | -15.3% |
| Gross operating margin | 9900 | €8,659 | €110,887 | +€102,228 | +1180.6% |
| Operating profit (loss) | 9901 | -€206 | €101,398 | +€101,604 | |
| Financial income | 75/76B | €2,416 | €4,687 | +€2,271 | +94.0% |
| Recurring financial income | 75 | €2,416 | €4,687 | +€2,271 | +94.0% |
| Financial charges | 65/66B | €720 | €553 | -€167 | -23.2% |
| Recurring financial charges | 65 | €720 | €553 | -€167 | -23.2% |
| Profit (loss) for the period before taxes | 9903 | €1,490 | €105,532 | +€104,042 | +6982.7% |
| Income taxes | 67/77 | €1,169 | €33,751 | +€32,582 | +2787.2% |
| Profit (loss) for the period | 9904 | €321 | €71,781 | +€71,460 | +22261.7% |
| Profit (loss) for the period to be appropriated | 9905 | €321 | €71,781 | +€71,460 | +22261.7% |
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 12 October 2026 via checked.be.