DULLAERT: 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.
DULLAERT
Largest movements
- Stocks and contracts +€136,391
up €136,391 (+47.3%), from €288,076 to €424,467
- Cash +€134,382
up €134,382 (+17.2%), from €782,591 to €916,973
mainly Net result for the year (+€391,376) and Depreciation (+€61,962)
- Tangible fixed assets -€60,625
down €60,625 (-30.0%), from €201,879 to €141,254
of which Furniture and vehicles: -€59,267
- Reserves +€183,555
up €183,555 (+13.2%), from €1.4m to €1.6m
- Trade debts +€42,842
up €42,842 (+17.7%), from €242,253 to €285,094
- Gross operating margin +€189,561
up €189,561 (+35.4%), from €535,896 to €725,457
- Taxes +€55,593
up €55,593 (+44.6%), from €124,519 to €180,112
- Financial income +€21,197
up €21,197 (+79.5%), from €26,652 to €47,848
- Depreciation +€18,917
up €18,917 (+43.9%), from €43,046 to €61,962
- Staff costs +€9,576
up €9,576 (+9.3%), from €103,383 to €112,960
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 | €1,751,863 | €1,975,662 | +€223,799 | +12.8% |
| Fixed assets | 21/28 | €201,879 | €141,254 | -€60,625 | -30.0% |
| Tangible fixed assets | 22/27 | €201,879 | €141,254 | -€60,625 | -30.0% |
| Plant, machinery and equipment | 23 | €3,900 | €2,542 | -€1,358 | -34.8% |
| Furniture and vehicles | 24 | €197,979 | €138,712 | -€59,267 | -29.9% |
| Current assets | 29/58 | €1,549,984 | €1,834,408 | +€284,424 | +18.4% |
| Stocks and contracts in progress | 3 | €288,076 | €424,467 | +€136,391 | +47.3% |
| Stocks | 30/36 | €288,076 | €424,467 | +€136,391 | +47.3% |
| Amounts receivable within one year | 40/41 | €256,102 | €270,114 | +€14,012 | +5.5% |
| Trade receivables | 40 | €256,082 | €269,065 | +€12,983 | +5.1% |
| Other amounts receivable | 41 | €20 | €1,049 | +€1,029 | +5143.4% |
| Current investments | 50/53 | €204,879 | €207,264 | +€2,385 | +1.2% |
| Cash at bank and in hand | 54/58 | €782,591 | €916,973 | +€134,382 | +17.2% |
| Deferred charges and accrued income | 490/1 | €18,337 | €15,589 | -€2,747 | -15.0% |
| Total equity and liabilities | 10/49 | €1,751,863 | €1,975,662 | +€223,799 | +12.8% |
| Equity | 10/15 | €1,414,534 | €1,598,089 | +€183,555 | +13.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,394,534 | €1,578,089 | +€183,555 | +13.2% |
| Distributable reserves | 133 | €1,394,534 | €1,578,089 | +€183,555 | +13.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €337,329 | €377,573 | +€40,244 | +11.9% |
| Amounts payable within one year | 42/48 | €336,200 | €370,712 | +€34,512 | +10.3% |
| Trade debts | 44 | €242,253 | €285,094 | +€42,842 | +17.7% |
| Suppliers | 440/4 | €242,253 | €285,094 | +€42,842 | +17.7% |
| Taxes, remuneration and social security | 45 | €86,902 | €74,299 | -€12,602 | -14.5% |
| Taxes | 450/3 | €81,807 | €65,380 | -€16,426 | -20.1% |
| Remuneration and social security | 454/9 | €5,095 | €8,919 | +€3,824 | +75.0% |
| Other amounts payable | 47/48 | €7,046 | €11,318 | +€4,273 | +60.6% |
| Accrued charges and deferred income | 492/3 | €1,129 | €6,861 | +€5,732 | +507.9% |
| Remuneration, social security and pensions | 62 | €103,383 | €112,960 | +€9,576 | +9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,046 | €61,962 | +€18,917 | +43.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €10,422 | €11,559 | +€1,136 | +10.9% |
| Gross operating margin | 9900 | €535,896 | €725,457 | +€189,561 | +35.4% |
| Operating profit (loss) | 9901 | €379,045 | €538,977 | +€159,932 | +42.2% |
| Financial income | 75/76B | €26,652 | €47,848 | +€21,197 | +79.5% |
| Recurring financial income | 75 | €26,652 | €47,848 | +€21,197 | +79.5% |
| Financial charges | 65/66B | €8,122 | €15,338 | +€7,216 | +88.8% |
| Recurring financial charges | 65 | €8,122 | €15,338 | +€7,216 | +88.8% |
| Profit (loss) for the period before taxes | 9903 | €397,575 | €571,488 | +€173,913 | +43.7% |
| Income taxes | 67/77 | €124,519 | €180,112 | +€55,593 | +44.6% |
| Profit (loss) for the period | 9904 | €273,056 | €391,376 | +€118,320 | +43.3% |
| Profit (loss) for the period to be appropriated | 9905 | €273,056 | €391,376 | +€118,320 | +43.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.