DUNE 52: 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.
DUNE 52
Largest movements
- Financial fixed assets +€106,958
new in 2025: €106,958
- Current investments -€94,000
down €94,000 (-83.6%), from €112,500 to €18,500
- Receivables within one year -€33,328
down €33,328 (-52.5%), from €63,440 to €30,112
of which Trade receivables: -€44,606
- Cash -€12,679
down €12,679 (-7.8%), from €161,548 to €148,869
mainly Contributions, distributions and other (-€176,471) and Investment in fixed assets (net) (-€108,899)
- Tangible fixed assets -€9,246
down €9,246 (-23.5%), from €39,378 to €30,132
of which Furniture and vehicles: -€7,905
- Reserves -€150,436
down €150,436 (-43.1%), from €348,950 to €198,514
- Debts after one year +€108,357
new in 2025: €108,357
- Tax, wage and social debts -€20,127
down €20,127 (-72.5%), from €27,779 to €7,653
- Other debts +€19,630
up €19,630 (+9137.6%), from €215 to €19,845
- Gross operating margin -€138,758
down €138,758 (-55.5%), from €250,224 to €111,467
- Taxes -€37,965
down €37,965 (-73.2%), from €51,844 to €13,879
- Financial charges +€22,084
up €22,084 (+75.1%), from €29,399 to €51,483
- Write-downs +€10,000
new in 2025: €10,000
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 | €387,657 | €346,276 | -€41,381 | -10.7% |
| Formation expenses | 20 | €685 | €0 | -€685 | -100.0% |
| Fixed assets | 21/28 | €39,378 | €137,091 | +€97,712 | +248.1% |
| Tangible fixed assets | 22/27 | €39,378 | €30,132 | -€9,246 | -23.5% |
| Plant, machinery and equipment | 23 | €3,783 | €2,442 | -€1,341 | -35.4% |
| Furniture and vehicles | 24 | €35,595 | €27,690 | -€7,905 | -22.2% |
| Financial fixed assets | 28 | - | €106,958 | +€106,958 | |
| Current assets | 29/58 | €347,594 | €209,185 | -€138,408 | -39.8% |
| Amounts receivable within one year | 40/41 | €63,440 | €30,112 | -€33,328 | -52.5% |
| Trade receivables | 40 | €62,657 | €18,051 | -€44,606 | -71.2% |
| Other amounts receivable | 41 | €783 | €12,060 | +€11,277 | +1440.5% |
| Current investments | 50/53 | €112,500 | €18,500 | -€94,000 | -83.6% |
| Cash at bank and in hand | 54/58 | €161,548 | €148,869 | -€12,679 | -7.8% |
| Deferred charges and accrued income | 490/1 | €10,106 | €11,705 | +€1,599 | +15.8% |
| Total equity and liabilities | 10/49 | €387,657 | €346,276 | -€41,381 | -10.7% |
| Equity | 10/15 | €353,950 | €203,514 | -€150,436 | -42.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €348,950 | €198,514 | -€150,436 | -43.1% |
| Distributable reserves | 133 | €348,950 | €198,514 | -€150,436 | -43.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €33,707 | €142,762 | +€109,055 | +323.5% |
| Amounts payable after more than one year | 17 | - | €108,357 | +€108,357 | |
| Financial debts | 170/4 | - | €108,357 | +€108,357 | |
| Amounts payable within one year | 42/48 | €33,351 | €32,134 | -€1,217 | -3.6% |
| Financial debts | 43 | €110 | €72 | -€38 | -34.2% |
| Credit institutions | 430/8 | €110 | €72 | -€38 | -34.2% |
| Trade debts | 44 | €5,247 | €4,564 | -€683 | -13.0% |
| Suppliers | 440/4 | €5,247 | €4,564 | -€683 | -13.0% |
| Taxes, remuneration and social security | 45 | €27,779 | €7,653 | -€20,127 | -72.5% |
| Taxes | 450/3 | €27,779 | €7,653 | -€20,127 | -72.5% |
| Other amounts payable | 47/48 | €215 | €19,845 | +€19,630 | +9137.6% |
| Accrued charges and deferred income | 492/3 | €355 | €2,271 | +€1,916 | +539.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,115 | €11,871 | +€756 | +6.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €10,000 | +€10,000 | |
| Other operating charges | 640/8 | €384 | €387 | +€3 | +0.8% |
| Non-recurring operating charges | 66A | - | €640 | +€640 | |
| Gross operating margin | 9900 | €250,224 | €111,467 | -€138,758 | -55.5% |
| Operating profit (loss) | 9901 | €238,725 | €88,568 | -€150,157 | -62.9% |
| Financial income | 75/76B | €4,016 | €2,829 | -€1,187 | -29.6% |
| Recurring financial income | 75 | €4,016 | €2,829 | -€1,187 | -29.6% |
| Financial charges | 65/66B | €29,399 | €51,483 | +€22,084 | +75.1% |
| Recurring financial charges | 65 | €29,399 | €51,483 | +€22,084 | +75.1% |
| Profit (loss) for the period before taxes | 9903 | €213,342 | €39,914 | -€173,428 | -81.3% |
| Income taxes | 67/77 | €51,844 | €13,879 | -€37,965 | -73.2% |
| Profit (loss) for the period | 9904 | €161,497 | €26,034 | -€135,463 | -83.9% |
| Profit (loss) for the period to be appropriated | 9905 | €161,497 | €26,034 | -€135,463 | -83.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.