DUENDE PM: 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.
DUENDE PM
Largest movements
- Cash +€15,706
up €15,706 (+41.8%), from €37,569 to €53,275
mainly Depreciation (+€44,474) and Other debts (+€20,850)
- Tangible fixed assets -€7,840
down €7,840 (-1.2%), from €674,284 to €666,444
of which Land and buildings: -€20,130
- Debts after one year -€32,353
down €32,353 (-5.7%), from €569,356 to €537,003
- Other debts +€20,850
up €20,850 (+16.2%), from €128,346 to €149,196
- Profit (loss) carried forward +€16,318
up €16,318, from -€14,717 to €1,601
- Gross operating margin +€30,124
up €30,124 (+60.7%), from €49,594 to €79,718
- Financial charges -€9,246
down €9,246 (-44.3%), from €20,891 to €11,646
- Taxes +€4,698
new in 2025: €4,698
- Depreciation +€2,506
up €2,506 (+6.0%), from €41,967 to €44,474
- Other operating charges -€1,377
down €1,377 (-31.6%), from €4,351 to €2,974
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 | €735,084 | €744,785 | +€9,702 | +1.3% |
| Fixed assets | 21/28 | €674,284 | €666,444 | -€7,840 | -1.2% |
| Tangible fixed assets | 22/27 | €674,284 | €666,444 | -€7,840 | -1.2% |
| Land and buildings | 22 | €532,310 | €512,180 | -€20,130 | -3.8% |
| Plant, machinery and equipment | 23 | €130,941 | €138,901 | +€7,960 | +6.1% |
| Furniture and vehicles | 24 | €11,033 | €15,362 | +€4,330 | +39.2% |
| Current assets | 29/58 | €60,800 | €78,342 | +€17,542 | +28.9% |
| Amounts receivable within one year | 40/41 | €20,889 | €25,067 | +€4,178 | +20.0% |
| Trade receivables | 40 | €16,246 | €24,567 | +€8,321 | +51.2% |
| Other amounts receivable | 41 | €4,642 | €500 | -€4,142 | -89.2% |
| Cash at bank and in hand | 54/58 | €37,569 | €53,275 | +€15,706 | +41.8% |
| Deferred charges and accrued income | 490/1 | €2,343 | - | -€2,343 | |
| Total equity and liabilities | 10/49 | €735,084 | €744,785 | +€9,702 | +1.3% |
| Equity | 10/15 | -€14,717 | €1,601 | +€16,318 | |
| Profit (loss) carried forward | 14 | -€14,717 | €1,601 | +€16,318 | |
| Amounts payable | 17/49 | €749,800 | €743,184 | -€6,616 | -0.9% |
| Amounts payable after more than one year | 17 | €569,356 | €537,003 | -€32,353 | -5.7% |
| Financial debts | 170/4 | €569,356 | €537,003 | -€32,353 | -5.7% |
| Amounts payable within one year | 42/48 | €180,444 | €206,181 | +€25,736 | +14.3% |
| Current portion of amounts payable after more than one year | 42 | €31,725 | €32,353 | +€627 | +2.0% |
| Trade debts | 44 | €6,841 | €7,862 | +€1,022 | +14.9% |
| Suppliers | 440/4 | €6,841 | €7,862 | +€1,022 | +14.9% |
| Taxes, remuneration and social security | 45 | €13,532 | €16,770 | +€3,237 | +23.9% |
| Taxes | 450/3 | €10,531 | €10,766 | +€235 | +2.2% |
| Remuneration and social security | 454/9 | €3,001 | €6,003 | +€3,002 | +100.0% |
| Other amounts payable | 47/48 | €128,346 | €149,196 | +€20,850 | +16.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,967 | €44,474 | +€2,506 | +6.0% |
| Other operating charges | 640/8 | €4,351 | €2,974 | -€1,377 | -31.6% |
| Gross operating margin | 9900 | €49,594 | €79,718 | +€30,124 | +60.7% |
| Operating profit (loss) | 9901 | €3,276 | €32,270 | +€28,995 | +885.2% |
| Financial income | 75/76B | €474 | €392 | -€83 | -17.5% |
| Recurring financial income | 75 | €474 | €392 | -€83 | -17.5% |
| Financial charges | 65/66B | €20,891 | €11,646 | -€9,246 | -44.3% |
| Recurring financial charges | 65 | €20,891 | €11,646 | -€9,246 | -44.3% |
| Profit (loss) for the period before taxes | 9903 | -€17,142 | €21,016 | +€38,157 | |
| Income taxes | 67/77 | - | €4,698 | +€4,698 | |
| Profit (loss) for the period | 9904 | -€17,142 | €16,318 | +€33,459 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,142 | €16,318 | +€33,459 |
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 9 October 2026 via checked.be.