DULLAERT IMMO: 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.
DULLAERT IMMO
Largest movements
- Cash +€67,313
up €67,313 (+54.5%), from €123,573 to €190,886
mainly Other debts (+€127,131) and Net result for the year (+€56,152)
- Receivables within one year -€10,947
no longer reported in 2025 (was €10,947)
- Tangible fixed assets +€5,795
up €5,795 (+1.7%), from €338,332 to €344,127
- Other debts +€127,131
new in 2025: €127,131
- Reserves -€70,979
down €70,979 (-16.6%), from €427,048 to €356,069
of which Distributable reserves: -€66,785
- Gross operating margin +€34,900
up €34,900 (+48.7%), from €71,718 to €106,618
- Taxes +€11,634
up €11,634 (+64.1%), from €18,139 to €29,772
- Depreciation +€1,484
up €1,484 (+13.1%), from €11,370 to €12,854
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.
Derived cash bridge
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 | €472,852 | €535,013 | +€62,161 | +13.1% |
| Fixed assets | 21/28 | €338,332 | €344,127 | +€5,795 | +1.7% |
| Tangible fixed assets | 22/27 | €338,332 | €344,127 | +€5,795 | +1.7% |
| Land and buildings | 22 | €338,332 | €344,127 | +€5,795 | +1.7% |
| Current assets | 29/58 | €134,520 | €190,886 | +€56,366 | +41.9% |
| Amounts receivable within one year | 40/41 | €10,947 | - | -€10,947 | |
| Other amounts receivable | 41 | €10,947 | - | -€10,947 | |
| Cash at bank and in hand | 54/58 | €123,573 | €190,886 | +€67,313 | +54.5% |
| Total equity and liabilities | 10/49 | €472,852 | €535,013 | +€62,161 | +13.1% |
| Equity | 10/15 | €468,611 | €397,632 | -€70,979 | -15.1% |
| Contributions | 10/11 | €21,732 | €21,732 | = | 0.0% |
| Revaluation surpluses | 12 | €19,831 | €19,831 | = | 0.0% |
| Reserves | 13 | €427,048 | €356,069 | -€70,979 | -16.6% |
| Tax-exempt reserves | 132 | €12,760 | €8,566 | -€4,194 | -32.9% |
| Distributable reserves | 133 | €414,288 | €347,503 | -€66,785 | -16.1% |
| Amounts payable | 17/49 | €4,241 | €137,381 | +€133,140 | +3,140% |
| Amounts payable within one year | 42/48 | €4,241 | €137,381 | +€133,140 | +3,140% |
| Trade debts | 44 | €1,102 | €3,127 | +€2,025 | +184% |
| Suppliers | 440/4 | €1,102 | €3,127 | +€2,025 | +184% |
| Taxes, remuneration and social security | 45 | €3,139 | €7,122 | +€3,984 | +127% |
| Taxes | 450/3 | €3,139 | €7,122 | +€3,984 | +127% |
| Other amounts payable | 47/48 | - | €127,131 | +€127,131 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,370 | €12,854 | +€1,484 | +13.1% |
| Other operating charges | 640/8 | €6,839 | €7,840 | +€1,001 | +14.6% |
| Gross operating margin | 9900 | €71,718 | €106,618 | +€34,900 | +48.7% |
| Operating profit (loss) | 9901 | €53,508 | €85,924 | +€32,416 | +60.6% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Profit (loss) for the period before taxes | 9903 | €53,508 | €85,925 | +€32,417 | +60.6% |
| Income taxes | 67/77 | €18,139 | €29,772 | +€11,634 | +64.1% |
| Profit (loss) for the period | 9904 | €35,370 | €56,152 | +€20,783 | +58.8% |
| Profit (loss) for the period to be appropriated | 9905 | €35,370 | €56,152 | +€20,783 | +58.8% |
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 17 October 2026 via checked.be.