DUFOUR ATH: 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.
DUFOUR ATH
Largest movements
- Receivables within one year -€577,606
down €577,606 (-76.5%), from €754,645 to €177,039
of which Trade receivables: -€401,628
- Cash -€243,342
down €243,342 (-63.7%), from €381,717 to €138,375
mainly Trade debts (-€770,510) and Other debts (-€169,025)
- Tangible fixed assets +€89,837
up €89,837 (+35.5%), from €252,815 to €342,652
of which Plant, machinery and equipment: +€64,562
- Trade debts -€770,510
down €770,510 (-69.7%), from €1.1m to €334,965
- Reserves +€216,300
up €216,300 (+21.1%), from €1.0m to €1.2m
- Other debts -€169,025
down €169,025 (-20.5%), from €825,533 to €656,508
- Gross operating margin +€106,864
up €106,864 (+14.5%), from €736,276 to €843,140
- Staff costs +€29,231
up €29,231 (+10.2%), from €286,184 to €315,415
- Taxes +€17,785
up €17,785 (+16.9%), from €105,352 to €123,137
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 | €3,086,099 | €2,359,813 | -€726,286 | -23.5% |
| Fixed assets | 21/28 | €253,085 | €343,039 | +€89,954 | +35.5% |
| Tangible fixed assets | 22/27 | €252,815 | €342,652 | +€89,837 | +35.5% |
| Land and buildings | 22 | €157,623 | €146,748 | -€10,875 | -6.9% |
| Plant, machinery and equipment | 23 | €52,245 | €116,807 | +€64,562 | +123.6% |
| Furniture and vehicles | 24 | - | €1,894 | +€1,894 | |
| Other tangible fixed assets | 26 | €42,947 | €77,203 | +€34,256 | +79.8% |
| Financial fixed assets | 28 | €270 | €387 | +€117 | +43.3% |
| Current assets | 29/58 | €2,833,014 | €2,016,774 | -€816,240 | -28.8% |
| Stocks and contracts in progress | 3 | €1,669,102 | €1,667,865 | -€1,237 | -0.1% |
| Stocks | 30/36 | €1,669,102 | €1,667,865 | -€1,237 | -0.1% |
| Amounts receivable within one year | 40/41 | €754,645 | €177,039 | -€577,606 | -76.5% |
| Trade receivables | 40 | €578,667 | €177,039 | -€401,628 | -69.4% |
| Other amounts receivable | 41 | €175,978 | - | -€175,978 | |
| Cash at bank and in hand | 54/58 | €381,717 | €138,375 | -€243,342 | -63.7% |
| Deferred charges and accrued income | 490/1 | €27,550 | €33,495 | +€5,945 | +21.6% |
| Total equity and liabilities | 10/49 | €3,086,099 | €2,359,813 | -€726,286 | -23.5% |
| Equity | 10/15 | €1,024,164 | €1,240,464 | +€216,300 | +21.1% |
| Reserves | 13 | €1,023,613 | €1,239,913 | +€216,300 | +21.1% |
| Distributable reserves | 133 | €1,023,613 | €1,239,913 | +€216,300 | +21.1% |
| Profit (loss) carried forward | 14 | €551 | €551 | = | 0.0% |
| Amounts payable | 17/49 | €2,061,935 | €1,119,349 | -€942,586 | -45.7% |
| Amounts payable after more than one year | 17 | €21,781 | €17,195 | -€4,586 | -21.1% |
| Financial debts | 170/4 | €21,781 | €17,195 | -€4,586 | -21.1% |
| Amounts payable within one year | 42/48 | €2,040,154 | €1,102,154 | -€938,000 | -46.0% |
| Current portion of amounts payable after more than one year | 42 | €36,052 | €10,224 | -€25,828 | -71.6% |
| Trade debts | 44 | €1,105,475 | €334,965 | -€770,510 | -69.7% |
| Suppliers | 440/4 | €1,105,475 | €334,965 | -€770,510 | -69.7% |
| Taxes, remuneration and social security | 45 | €73,094 | €100,457 | +€27,363 | +37.4% |
| Taxes | 450/3 | €31,023 | €55,972 | +€24,949 | +80.4% |
| Remuneration and social security | 454/9 | €42,071 | €44,485 | +€2,414 | +5.7% |
| Other amounts payable | 47/48 | €825,533 | €656,508 | -€169,025 | -20.5% |
| Remuneration, social security and pensions | 62 | €286,184 | €315,415 | +€29,231 | +10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,066 | €30,019 | +€7,953 | +36.0% |
| Other operating charges | 640/8 | €12,213 | €10,965 | -€1,248 | -10.2% |
| Non-recurring operating charges | 66A | €100 | €100 | = | 0.0% |
| Gross operating margin | 9900 | €736,276 | €843,140 | +€106,864 | +14.5% |
| Operating profit (loss) | 9901 | €415,713 | €486,641 | +€70,928 | +17.1% |
| Financial income | 75/76B | €1,266 | €132 | -€1,134 | -89.6% |
| Recurring financial income | 75 | €1,266 | €132 | -€1,134 | -89.6% |
| Financial charges | 65/66B | €6,302 | €4,337 | -€1,965 | -31.2% |
| Recurring financial charges | 65 | €6,302 | €4,337 | -€1,965 | -31.2% |
| Profit (loss) for the period before taxes | 9903 | €410,677 | €482,436 | +€71,759 | +17.5% |
| Income taxes | 67/77 | €105,352 | €123,137 | +€17,785 | +16.9% |
| Profit (loss) for the period | 9904 | €305,325 | €359,299 | +€53,974 | +17.7% |
| Profit (loss) for the period to be appropriated | 9905 | €305,325 | €359,299 | +€53,974 | +17.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.