Duo Ghozli: 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.
Duo Ghozli
Largest movements
- Cash +€58,920
up €58,920 (+21.7%), from €271,693 to €330,613
mainly Debts after one year (+€195,000) and Accrued charges and deferred income (+€13,953)
- Intangible fixed assets +€9,264
new in 2025: €9,264
- Debts after one year +€195,000
new in 2025: €195,000
- Reserves -€81,170
down €81,170 (-39.2%), from €207,049 to €125,879
- Tax, wage and social debts -€67,282
down €67,282 (-96.7%), from €69,543 to €2,261
- Accrued charges and deferred income +€13,953
new in 2025: €13,953
- Trade debts +€5,465
up €5,465 (+381%), from €1,434 to €6,899
- Gross operating margin -€248,477
down €248,477, from €186,076 to -€62,400
- Taxes -€40,091
down €40,091 (-99.7%), from €40,223 to €132
- Financial charges +€13,438
up €13,438 (+718%), from €1,870 to €15,308
- Depreciation +€2,522
new in 2025: €2,522
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 | €283,031 | €353,328 | +€70,297 | +24.8% |
| Fixed assets | 21/28 | - | €10,448 | +€10,448 | |
| Intangible fixed assets | 21 | - | €9,264 | +€9,264 | |
| Tangible fixed assets | 22/27 | - | €1,184 | +€1,184 | |
| Furniture and vehicles | 24 | - | €1,184 | +€1,184 | |
| Current assets | 29/58 | €283,031 | €342,880 | +€59,848 | +21.1% |
| Amounts receivable after more than one year | 29 | €1,000 | €2,200 | +€1,200 | +120% |
| Other amounts receivable | 291 | €1,000 | €2,200 | +€1,200 | +120% |
| Amounts receivable within one year | 40/41 | €10,338 | €10,066 | -€271 | -2.6% |
| Trade receivables | 40 | €0 | €4,740 | +€4,740 | |
| Other amounts receivable | 41 | €10,338 | €5,326 | -€5,012 | -48.5% |
| Cash at bank and in hand | 54/58 | €271,693 | €330,613 | +€58,920 | +21.7% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €283,031 | €353,328 | +€70,297 | +24.8% |
| Equity | 10/15 | €212,049 | €130,879 | -€81,170 | -38.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €207,049 | €125,879 | -€81,170 | -39.2% |
| Distributable reserves | 133 | €207,049 | €125,879 | -€81,170 | -39.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €70,982 | €222,448 | +€151,466 | +213% |
| Amounts payable after more than one year | 17 | - | €195,000 | +€195,000 | |
| Financial debts | 170/4 | - | €195,000 | +€195,000 | |
| Amounts payable within one year | 42/48 | €70,982 | €13,495 | -€57,487 | -81.0% |
| Trade debts | 44 | €1,434 | €6,899 | +€5,465 | +381% |
| Suppliers | 440/4 | €1,434 | €6,899 | +€5,465 | +381% |
| Taxes, remuneration and social security | 45 | €69,543 | €2,261 | -€67,282 | -96.7% |
| Taxes | 450/3 | €69,543 | €2,261 | -€67,282 | -96.7% |
| Other amounts payable | 47/48 | €5 | €4,335 | +€4,330 | +88,016% |
| Accrued charges and deferred income | 492/3 | - | €13,953 | +€13,953 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,522 | +€2,522 | |
| Other operating charges | 640/8 | €2,625 | €807 | -€1,818 | -69.2% |
| Gross operating margin | 9900 | €186,076 | -€62,400 | -€248,477 | |
| Operating profit (loss) | 9901 | €183,451 | -€65,730 | -€249,181 | |
| Financial charges | 65/66B | €1,870 | €15,308 | +€13,438 | +718% |
| Recurring financial charges | 65 | €1,870 | €15,308 | +€13,438 | +718% |
| Profit (loss) for the period before taxes | 9903 | €181,581 | -€81,038 | -€262,618 | |
| Income taxes | 67/77 | €40,223 | €132 | -€40,091 | -99.7% |
| Profit (loss) for the period | 9904 | €141,357 | -€81,170 | -€222,527 | |
| Profit (loss) for the period to be appropriated | 9905 | €141,357 | -€81,170 | -€222,527 |
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 16 October 2026 via checked.be.