DUMORTIER DAVID: 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.
DUMORTIER DAVID
Largest movements
- Tangible fixed assets -€38,465
down €38,465 (-19.7%), from €194,831 to €156,366
of which Plant, machinery and equipment: -€40,100
- Cash +€6,620
up €6,620 (+26.8%), from €24,668 to €31,288
mainly Depreciation (+€40,162) and Tax, wage and social debts (+€5,552)
- Debts after one year -€37,000
down €37,000 (-50.0%), from €74,000 to €37,000
- Tax, wage and social debts +€5,552
new in 2025: €5,552
- Gross operating margin -€32,601
down €32,601 (-45.3%), from €71,941 to €39,340
- Other operating charges -€3,039
down €3,039 (-94.0%), from €3,232 to €192
- Financial charges +€1,205
up €1,205 (+107%), from €1,128 to €2,334
- Depreciation -€841
down €841 (-2.1%), from €41,004 to €40,162
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 | €304,470 | €271,227 | -€33,243 | -10.9% |
| Fixed assets | 21/28 | €194,831 | €156,366 | -€38,465 | -19.7% |
| Tangible fixed assets | 22/27 | €194,831 | €156,366 | -€38,465 | -19.7% |
| Land and buildings | 22 | €0 | €1,635 | +€1,635 | |
| Plant, machinery and equipment | 23 | €194,831 | €154,731 | -€40,100 | -20.6% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €109,639 | €114,861 | +€5,221 | +4.8% |
| Amounts receivable within one year | 40/41 | €84,444 | €83,279 | -€1,165 | -1.4% |
| Trade receivables | 40 | €82,914 | €74,096 | -€8,819 | -10.6% |
| Other amounts receivable | 41 | €1,530 | €9,184 | +€7,653 | +500% |
| Cash at bank and in hand | 54/58 | €24,668 | €31,288 | +€6,620 | +26.8% |
| Deferred charges and accrued income | 490/1 | €527 | €294 | -€233 | -44.2% |
| Total equity and liabilities | 10/49 | €304,470 | €271,227 | -€33,243 | -10.9% |
| Equity | 10/15 | €188,106 | €185,418 | -€2,689 | -1.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €17,670 | €14,870 | -€2,800 | -15.8% |
| Tax-exempt reserves | 132 | €15,810 | €13,010 | -€2,800 | -17.7% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €151,836 | €151,947 | +€111 | +0.1% |
| Provisions and deferred taxes | 16 | €3,953 | €3,253 | -€700 | -17.7% |
| Deferred taxes | 168 | €3,953 | €3,253 | -€700 | -17.7% |
| Amounts payable | 17/49 | €112,411 | €82,556 | -€29,855 | -26.6% |
| Amounts payable after more than one year | 17 | €74,000 | €37,000 | -€37,000 | -50.0% |
| Financial debts | 170/4 | €74,000 | €37,000 | -€37,000 | -50.0% |
| Amounts payable within one year | 42/48 | €38,411 | €45,556 | +€7,145 | +18.6% |
| Current portion of amounts payable after more than one year | 42 | €35,024 | €35,024 | = | 0.0% |
| Trade debts | 44 | €1,822 | €415 | -€1,407 | -77.2% |
| Suppliers | 440/4 | €1,822 | €415 | -€1,407 | -77.2% |
| Taxes, remuneration and social security | 45 | - | €5,552 | +€5,552 | |
| Taxes | 450/3 | - | €5,552 | +€5,552 | |
| Other amounts payable | 47/48 | €1,565 | €4,565 | +€3,000 | +192% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,004 | €40,162 | -€841 | -2.1% |
| Other operating charges | 640/8 | €3,232 | €192 | -€3,039 | -94.0% |
| Gross operating margin | 9900 | €71,941 | €39,340 | -€32,601 | -45.3% |
| Operating profit (loss) | 9901 | €27,706 | -€1,015 | -€28,720 | |
| Financial charges | 65/66B | €1,128 | €2,334 | +€1,205 | +107% |
| Recurring financial charges | 65 | €1,128 | €2,334 | +€1,205 | +107% |
| Profit (loss) for the period before taxes | 9903 | €26,577 | -€3,348 | -€29,926 | |
| Transfer from deferred taxes | 780 | €700 | €700 | = | 0.0% |
| Income taxes | 67/77 | - | €41 | +€41 | |
| Profit (loss) for the period | 9904 | €27,277 | -€2,689 | -€29,966 | |
| Transfer from tax-exempt reserves | 789 | €2,800 | €2,800 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €30,077 | €111 | -€29,966 | -99.6% |
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 19 October 2026 via checked.be.