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
- Cash +€147,641
up €147,641 (+88.2%), from €167,323 to €314,964
mainly Current investments (+€131,253) and Receivables within one year (+€38,167)
- Current investments -€131,253
down €131,253 (-55.5%), from €236,672 to €105,419
- Receivables within one year -€38,167
down €38,167 (-77.4%), from €49,315 to €11,148
of which Trade receivables: -€24,200
- Other debts -€13,908
down €13,908 (-100.0%), from €13,908 to €0
- Trade debts -€9,390
down €9,390 (-86.0%), from €10,916 to €1,526
- Reserves +€6,455
up €6,455 (+2.0%), from €324,336 to €330,791
of which Distributable reserves: +€6,455
- Tax, wage and social debts -€4,936
down €4,936 (-33.4%), from €14,769 to €9,833
- Gross operating margin -€109,103
down €109,103, from €100,743 to -€8,360
- Taxes -€29,521
down €29,521 (-96.5%), from €30,602 to €1,081
- Financial charges -€16,094
down €16,094 (-63.7%), from €25,281 to €9,187
of which Financial charges: -€16,010
- Financial income +€6,500
up €6,500 (+33.7%), from €19,264 to €25,763
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 | €463,930 | €442,151 | -€21,779 | -4.7% |
| Fixed assets | 21/28 | €10,620 | €10,620 | = | 0.0% |
| Tangible fixed assets | 22/27 | €9,945 | €9,945 | = | 0.0% |
| Furniture and vehicles | 24 | €9,945 | €9,945 | = | 0.0% |
| Financial fixed assets | 28 | €675 | €675 | = | 0.0% |
| Current assets | 29/58 | €453,310 | €431,531 | -€21,779 | -4.8% |
| Amounts receivable within one year | 40/41 | €49,315 | €11,148 | -€38,167 | -77.4% |
| Trade receivables | 40 | €24,200 | €0 | -€24,200 | -100.0% |
| Other amounts receivable | 41 | €25,115 | €11,148 | -€13,967 | -55.6% |
| Current investments | 50/53 | €236,672 | €105,419 | -€131,253 | -55.5% |
| Cash at bank and in hand | 54/58 | €167,323 | €314,964 | +€147,641 | +88.2% |
| Total equity and liabilities | 10/49 | €463,930 | €442,151 | -€21,779 | -4.7% |
| Equity | 10/15 | €424,336 | €430,791 | +€6,455 | +1.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €324,336 | €330,791 | +€6,455 | +2.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €314,336 | €320,791 | +€6,455 | +2.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €39,594 | €11,359 | -€28,234 | -71.3% |
| Amounts payable within one year | 42/48 | €39,594 | €11,359 | -€28,234 | -71.3% |
| Trade debts | 44 | €10,916 | €1,526 | -€9,390 | -86.0% |
| Suppliers | 440/4 | €10,916 | €1,526 | -€9,390 | -86.0% |
| Taxes, remuneration and social security | 45 | €14,769 | €9,833 | -€4,936 | -33.4% |
| Taxes | 450/3 | €14,769 | €9,833 | -€4,936 | -33.4% |
| Other amounts payable | 47/48 | €13,908 | €0 | -€13,908 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €724 | €680 | -€44 | -6.1% |
| Gross operating margin | 9900 | €100,743 | -€8,360 | -€109,103 | |
| Operating profit (loss) | 9901 | €100,019 | -€9,040 | -€109,059 | |
| Financial income | 75/76B | €19,264 | €25,763 | +€6,500 | +33.7% |
| Recurring financial income | 75 | €19,264 | €25,763 | +€6,500 | +33.7% |
| Financial charges | 65/66B | €25,281 | €9,187 | -€16,094 | -63.7% |
| Recurring financial charges | 65 | €25,198 | €9,187 | -€16,010 | -63.5% |
| Non-recurring financial charges | 66B | €83 | - | -€83 | |
| Profit (loss) for the period before taxes | 9903 | €94,002 | €7,536 | -€86,465 | -92.0% |
| Income taxes | 67/77 | €30,602 | €1,081 | -€29,521 | -96.5% |
| Profit (loss) for the period | 9904 | €63,400 | €6,455 | -€56,944 | -89.8% |
| Profit (loss) for the period to be appropriated | 9905 | €63,400 | €6,455 | -€56,944 | -89.8% |
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.