DUO: 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.
DUO
Largest movements
- Tangible fixed assets -€102,372
down €102,372 (-31.2%), from €327,702 to €225,330
- Cash +€65,675
up €65,675 (+77.3%), from €85,001 to €150,676
mainly Depreciation (+€119,750) and Tax, wage and social debts (+€96,652)
- Stocks and contracts -€60,937
down €60,937 (-54.2%), from €112,434 to €51,497
- Receivables within one year -€46,574
down €46,574 (-4.9%), from €945,882 to €899,308
of which Other amounts receivable: -€73,325
- Deferred charges and accrued income -€38,607
down €38,607 (-43.0%), from €89,716 to €51,109
- Debts after one year -€189,004
down €189,004 (-100.0%), from €189,004 to €0
- Other debts -€98,983
down €98,983 (-41.4%), from €238,983 to €140,000
- Tax, wage and social debts +€96,652
up €96,652 (+37.6%), from €257,000 to €353,652
of which Taxes: +€53,539
- Current portion of long-term debt -€65,190
down €65,190 (-98.1%), from €66,486 to €1,296
- Trade debts +€59,929
up €59,929 (+40.6%), from €147,532 to €207,461
- Gross operating margin +€1.2m
up €1.2m (+125.9%), from €962,783 to €2.2m
- Staff costs +€871,022
up €871,022 (+89.4%), from €974,106 to €1.8m
- Depreciation +€59,085
up €59,085 (+97.4%), from €60,665 to €119,750
- Financial income -€38,780
down €38,780 (-98.5%), from €39,362 to €582
- Taxes +€31,625
up €31,625 (+3161.0%), from €1,000 to €32,626
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,650,973 | €1,457,495 | -€193,479 | -11.7% |
| Fixed assets | 21/28 | €417,941 | €304,905 | -€113,036 | -27.0% |
| Intangible fixed assets | 21 | €27,095 | €16,239 | -€10,856 | -40.1% |
| Tangible fixed assets | 22/27 | €327,702 | €225,330 | -€102,372 | -31.2% |
| Land and buildings | 22 | €188,175 | €146,320 | -€41,855 | -22.2% |
| Plant, machinery and equipment | 23 | €76,024 | €45,967 | -€30,057 | -39.5% |
| Furniture and vehicles | 24 | €63,502 | €33,043 | -€30,460 | -48.0% |
| Financial fixed assets | 28 | €63,143 | €63,335 | +€192 | +0.3% |
| Current assets | 29/58 | €1,233,033 | €1,152,590 | -€80,443 | -6.5% |
| Stocks and contracts in progress | 3 | €112,434 | €51,497 | -€60,937 | -54.2% |
| Contracts in progress | 37 | €112,434 | €51,497 | -€60,937 | -54.2% |
| Amounts receivable within one year | 40/41 | €945,882 | €899,308 | -€46,574 | -4.9% |
| Trade receivables | 40 | €536,882 | €563,634 | +€26,752 | +5.0% |
| Other amounts receivable | 41 | €409,000 | €335,674 | -€73,325 | -17.9% |
| Cash at bank and in hand | 54/58 | €85,001 | €150,676 | +€65,675 | +77.3% |
| Deferred charges and accrued income | 490/1 | €89,716 | €51,109 | -€38,607 | -43.0% |
| Total equity and liabilities | 10/49 | €1,650,973 | €1,457,495 | -€193,479 | -11.7% |
| Equity | 10/15 | €444,654 | €493,049 | +€48,395 | +10.9% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €369,654 | €418,049 | +€48,395 | +13.1% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €26,750 | €26,750 | = | 0.0% |
| Distributable reserves | 133 | €335,404 | €383,799 | +€48,395 | +14.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €1,206,320 | €964,446 | -€241,874 | -20.1% |
| Amounts payable after more than one year | 17 | €189,004 | €0 | -€189,004 | -100.0% |
| Financial debts | 170/4 | €189,004 | €0 | -€189,004 | -100.0% |
| Amounts payable within one year | 42/48 | €914,872 | €861,897 | -€52,975 | -5.8% |
| Current portion of amounts payable after more than one year | 42 | €66,486 | €1,296 | -€65,190 | -98.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €147,532 | €207,461 | +€59,929 | +40.6% |
| Suppliers | 440/4 | €147,532 | €207,461 | +€59,929 | +40.6% |
| Advances received on contracts in progress | 46 | €204,871 | €159,488 | -€45,383 | -22.2% |
| Taxes, remuneration and social security | 45 | €257,000 | €353,652 | +€96,652 | +37.6% |
| Taxes | 450/3 | €63,315 | €116,854 | +€53,539 | +84.6% |
| Remuneration and social security | 454/9 | €193,685 | €236,798 | +€43,113 | +22.3% |
| Other amounts payable | 47/48 | €238,983 | €140,000 | -€98,983 | -41.4% |
| Accrued charges and deferred income | 492/3 | €102,444 | €102,549 | +€105 | +0.1% |
| Remuneration, social security and pensions | 62 | €974,106 | €1,845,128 | +€871,022 | +89.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,665 | €119,750 | +€59,085 | +97.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €11,475 | €21,648 | +€10,173 | +88.7% |
| Non-recurring operating charges | 66A | - | €103,220 | +€103,220 | |
| Gross operating margin | 9900 | €962,783 | €2,175,329 | +€1.2m | +125.9% |
| Operating profit (loss) | 9901 | -€83,463 | €85,583 | +€169,045 | |
| Financial income | 75/76B | €39,362 | €582 | -€38,780 | -98.5% |
| Recurring financial income | 75 | €39,362 | €582 | -€38,780 | -98.5% |
| Financial charges | 65/66B | €8,454 | €5,144 | -€3,310 | -39.2% |
| Recurring financial charges | 65 | €8,454 | €5,144 | -€3,310 | -39.2% |
| Profit (loss) for the period before taxes | 9903 | -€52,554 | €81,021 | +€133,575 | |
| Income taxes | 67/77 | €1,000 | €32,626 | +€31,625 | +3161.0% |
| Profit (loss) for the period | 9904 | -€53,555 | €48,395 | +€101,950 | |
| Profit (loss) for the period to be appropriated | 9905 | -€53,555 | €48,395 | +€101,950 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.