DULLIER MANAGEMENT: 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.
DULLIER MANAGEMENT
Largest movements
- Receivables within one year +€26,510
up €26,510 (+52.6%), from €50,374 to €76,885
- Cash +€19,299
up €19,299 (+158%), from €12,222 to €31,521
mainly Net result for the year (+€42,974) and Tax, wage and social debts (+€11,722)
- Tangible fixed assets +€9,607
up €9,607 (+76.6%), from €12,548 to €22,155
of which Furniture and vehicles: +€10,076
- Reserves +€40,000
up €40,000 (+67.2%), from €59,500 to €99,500
- Tax, wage and social debts +€11,722
up €11,722 (+204%), from €5,737 to €17,459
- Profit (loss) carried forward +€2,974
up €2,974 (+124%), from €2,407 to €5,381
- Gross operating margin +€52,390
up €52,390 (+325%), from €16,143 to €68,532
- Taxes +€14,401
up €14,401 (+335%), from €4,301 to €18,702
- Depreciation -€2,263
down €2,263 (-26.2%), from €8,649 to €6,386
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 | €75,191 | €130,607 | +€55,416 | +73.7% |
| Fixed assets | 21/28 | €12,595 | €22,202 | +€9,607 | +76.3% |
| Tangible fixed assets | 22/27 | €12,548 | €22,155 | +€9,607 | +76.6% |
| Plant, machinery and equipment | 23 | €1,033 | €564 | -€469 | -45.4% |
| Furniture and vehicles | 24 | €11,515 | €21,591 | +€10,076 | +87.5% |
| Financial fixed assets | 28 | €47 | €47 | = | 0.0% |
| Current assets | 29/58 | €62,596 | €108,405 | +€45,809 | +73.2% |
| Amounts receivable within one year | 40/41 | €50,374 | €76,885 | +€26,510 | +52.6% |
| Other amounts receivable | 41 | €50,374 | €76,885 | +€26,510 | +52.6% |
| Cash at bank and in hand | 54/58 | €12,222 | €31,521 | +€19,299 | +158% |
| Total equity and liabilities | 10/49 | €75,191 | €130,607 | +€55,416 | +73.7% |
| Equity | 10/15 | €64,407 | €107,381 | +€42,974 | +66.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €59,500 | €99,500 | +€40,000 | +67.2% |
| Distributable reserves | 133 | €59,500 | €99,500 | +€40,000 | +67.2% |
| Profit (loss) carried forward | 14 | €2,407 | €5,381 | +€2,974 | +124% |
| Amounts payable | 17/49 | €10,784 | €23,227 | +€12,442 | +115% |
| Amounts payable within one year | 42/48 | €10,784 | €23,227 | +€12,442 | +115% |
| Trade debts | 44 | €475 | €875 | +€400 | +84.3% |
| Suppliers | 440/4 | €475 | €875 | +€400 | +84.3% |
| Taxes, remuneration and social security | 45 | €5,737 | €17,459 | +€11,722 | +204% |
| Taxes | 450/3 | €5,737 | €17,459 | +€11,722 | +204% |
| Other amounts payable | 47/48 | €4,573 | €4,893 | +€320 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,649 | €6,386 | -€2,263 | -26.2% |
| Other operating charges | 640/8 | €388 | €400 | +€11 | +2.9% |
| Gross operating margin | 9900 | €16,143 | €68,532 | +€52,390 | +325% |
| Operating profit (loss) | 9901 | €7,106 | €61,747 | +€54,641 | +769% |
| Financial charges | 65/66B | €72 | €70 | -€1 | -1.6% |
| Recurring financial charges | 65 | €72 | €70 | -€1 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €7,034 | €61,676 | +€54,642 | +777% |
| Income taxes | 67/77 | €4,301 | €18,702 | +€14,401 | +335% |
| Profit (loss) for the period | 9904 | €2,733 | €42,974 | +€40,241 | +1,473% |
| Profit (loss) for the period to be appropriated | 9905 | €2,733 | €42,974 | +€40,241 | +1,473% |
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 24 October 2026 via checked.be.