Duher: 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.
Duher
Largest movements
- Tangible fixed assets -€265,007
down €265,007 (-99.6%), from €266,204 to €1,197
- Receivables within one year +€130,117
up €130,117 (+81.6%), from €159,418 to €289,536
of which Trade receivables: +€108,786
- Cash +€95,784
up €95,784 (+38.0%), from €252,324 to €348,109
mainly Other debts (+€629,764) and Investment in fixed assets (net) (+€255,047)
- Deferred charges and accrued income -€25,131
down €25,131 (-66.3%), from €37,906 to €12,776
- Other debts +€629,764
up €629,764 (+80.8%), from €779,544 to €1.4m
- Trade debts -€607,998
down €607,998 (-83.9%), from €724,478 to €116,480
of which Suppliers: -€604,552
- Profit (loss) carried forward -€84,488
down €84,488 (-7.1%), from -€1.2m to -€1.3m
- Tax, wage and social debts -€43,090
down €43,090 (-25.0%), from €172,430 to €129,340
of which Taxes: -€46,613
- Provisions +€41,567
up €41,567 (+24.9%), from €166,835 to €208,402
- Gross operating margin +€158,252
up €158,252 (+20.0%), from €792,532 to €950,784
- Financial charges +€128,578
up €128,578 (+225.5%), from €57,030 to €185,608
of which Non-recurring financial charges: +€150,671
- Other operating charges +€107,369
up €107,369 (+1266.9%), from €8,475 to €115,844
- Staff costs -€72,779
down €72,779 (-9.7%), from €752,835 to €680,056
- Depreciation -€59,556
down €59,556 (-85.7%), from €69,517 to €9,961
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 | €791,391 | €727,153 | -€64,237 | -8.1% |
| Fixed assets | 21/28 | €341,741 | €76,733 | -€265,008 | -77.5% |
| Intangible fixed assets | 21 | €1 | - | -€1 | |
| Tangible fixed assets | 22/27 | €266,204 | €1,197 | -€265,007 | -99.6% |
| Plant, machinery and equipment | 23 | €114,245 | €1,197 | -€113,048 | -99.0% |
| Furniture and vehicles | 24 | €59,542 | - | -€59,542 | |
| Other tangible fixed assets | 26 | €92,417 | - | -€92,417 | |
| Financial fixed assets | 28 | €75,536 | €75,536 | = | 0.0% |
| Current assets | 29/58 | €449,649 | €650,420 | +€200,771 | +44.7% |
| Amounts receivable within one year | 40/41 | €159,418 | €289,536 | +€130,117 | +81.6% |
| Trade receivables | 40 | €57,897 | €166,682 | +€108,786 | +187.9% |
| Other amounts receivable | 41 | €101,522 | €122,853 | +€21,331 | +21.0% |
| Cash at bank and in hand | 54/58 | €252,324 | €348,109 | +€95,784 | +38.0% |
| Deferred charges and accrued income | 490/1 | €37,906 | €12,776 | -€25,131 | -66.3% |
| Total equity and liabilities | 10/49 | €791,391 | €727,153 | -€64,237 | -8.1% |
| Equity | 10/15 | -€1,051,897 | -€1,136,385 | -€84,488 | -8.0% |
| Contributions | 10/11 | €19,831 | €19,831 | = | 0.0% |
| Reserves | 13 | €119,248 | €119,248 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,983 | €1,983 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,983 | €1,983 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,108 | €18,108 | = | 0.0% |
| Distributable reserves | 133 | €99,157 | €99,157 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,190,977 | -€1,275,465 | -€84,488 | -7.1% |
| Provisions and deferred taxes | 16 | €166,835 | €208,402 | +€41,567 | +24.9% |
| Provisions for liabilities and charges | 160/5 | €166,835 | €208,402 | +€41,567 | +24.9% |
| Taxes | 161 | €141,210 | €185,302 | +€44,092 | +31.2% |
| Other liabilities and charges | 164/5 | €25,625 | €23,100 | -€2,525 | -9.9% |
| Amounts payable | 17/49 | €1,676,452 | €1,655,137 | -€21,315 | -1.3% |
| Amounts payable within one year | 42/48 | €1,676,452 | €1,655,129 | -€21,324 | -1.3% |
| Trade debts | 44 | €724,478 | €116,480 | -€607,998 | -83.9% |
| Suppliers | 440/4 | €721,032 | €116,480 | -€604,552 | -83.8% |
| Bills of exchange payable | 441 | €3,446 | - | -€3,446 | |
| Taxes, remuneration and social security | 45 | €172,430 | €129,340 | -€43,090 | -25.0% |
| Taxes | 450/3 | €68,606 | €21,993 | -€46,613 | -67.9% |
| Remuneration and social security | 454/9 | €103,825 | €107,347 | +€3,522 | +3.4% |
| Other amounts payable | 47/48 | €779,544 | €1,409,308 | +€629,764 | +80.8% |
| Accrued charges and deferred income | 492/3 | - | €8 | +€8 | |
| Non-recurring operating income | 76A | €7,329 | €353,789 | +€346,460 | +4727.1% |
| Remuneration, social security and pensions | 62 | €752,835 | €680,056 | -€72,779 | -9.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,517 | €9,961 | -€59,556 | -85.7% |
| Other operating charges | 640/8 | €8,475 | €115,844 | +€107,369 | +1266.9% |
| Gross operating margin | 9900 | €792,532 | €950,784 | +€158,252 | +20.0% |
| Operating profit (loss) | 9901 | -€38,295 | €144,922 | +€183,218 | |
| Financial income | 75/76B | €613 | €289 | -€324 | -52.9% |
| Recurring financial income | 75 | €613 | €289 | -€324 | -52.9% |
| Financial charges | 65/66B | €57,030 | €185,608 | +€128,578 | +225.5% |
| Recurring financial charges | 65 | €57,030 | €34,937 | -€22,094 | -38.7% |
| Non-recurring financial charges | 66B | - | €150,671 | +€150,671 | |
| Profit (loss) for the period before taxes | 9903 | -€94,712 | -€40,397 | +€54,316 | +57.3% |
| Income taxes | 67/77 | €21,869 | €44,092 | +€22,222 | +101.6% |
| Profit (loss) for the period | 9904 | -€116,582 | -€84,488 | +€32,093 | +27.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€116,582 | -€84,488 | +€32,093 | +27.5% |
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 1 October 2026 via checked.be.