DUODECIM: 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.
DUODECIM
Largest movements
- Receivables within one year +€50,643
up €50,643 (+64.5%), from €78,573 to €129,215
of which Other amounts receivable: +€62,289
- Cash -€15,372
down €15,372 (-64.4%), from €23,866 to €8,494
mainly Receivables within one year (-€50,643) and Investment in fixed assets (net) (-€16,605)
- Deferred charges and accrued income -€9,598
down €9,598 (-53.2%), from €18,052 to €8,454
- Tangible fixed assets +€8,995
up €8,995 (+64.6%), from €13,935 to €22,931
of which Plant, machinery and equipment: +€12,368
- Intangible fixed assets -€7,200
down €7,200 (-41.4%), from €17,400 to €10,200
- Reserves +€23,510
up €23,510 (+18.7%), from €125,832 to €149,342
- Tax, wage and social debts -€8,561
down €8,561 (-26.2%), from €32,708 to €24,147
of which Taxes: -€15,097
- Trade debts +€5,689
up €5,689 (+10.4%), from €54,597 to €60,285
- Current portion of long-term debt +€4,563
up €4,563 (+30.2%), from €15,122 to €19,686
- Debts after one year +€2,931
up €2,931 (+131.9%), from €2,222 to €5,153
- Gross operating margin +€47,093
up €47,093 (+29.5%), from €159,397 to €206,490
- Staff costs +€37,922
up €37,922 (+37.0%), from €102,577 to €140,499
- Financial charges -€4,969
down €4,969 (-44.2%), from €11,242 to €6,274
- Taxes +€4,951
up €4,951 (+33.7%), from €14,670 to €19,621
- Financial income -€3,259
down €3,259 (-97.1%), from €3,355 to €96
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 | €238,331 | €265,799 | +€27,468 | +11.5% |
| Fixed assets | 21/28 | €31,335 | €33,131 | +€1,795 | +5.7% |
| Intangible fixed assets | 21 | €17,400 | €10,200 | -€7,200 | -41.4% |
| Tangible fixed assets | 22/27 | €13,935 | €22,931 | +€8,995 | +64.6% |
| Plant, machinery and equipment | 23 | €5,454 | €17,823 | +€12,368 | +226.8% |
| Furniture and vehicles | 24 | €6,297 | €3,647 | -€2,651 | -42.1% |
| Other tangible fixed assets | 26 | €2,184 | €1,462 | -€722 | -33.1% |
| Current assets | 29/58 | €206,996 | €232,669 | +€25,673 | +12.4% |
| Amounts receivable after more than one year | 29 | €86,505 | €86,505 | = | 0.0% |
| Other amounts receivable | 291 | €86,505 | €86,505 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €78,573 | €129,215 | +€50,643 | +64.5% |
| Trade receivables | 40 | €66,395 | €54,749 | -€11,647 | -17.5% |
| Other amounts receivable | 41 | €12,177 | €74,467 | +€62,289 | +511.5% |
| Cash at bank and in hand | 54/58 | €23,866 | €8,494 | -€15,372 | -64.4% |
| Deferred charges and accrued income | 490/1 | €18,052 | €8,454 | -€9,598 | -53.2% |
| Total equity and liabilities | 10/49 | €238,331 | €265,799 | +€27,468 | +11.5% |
| Equity | 10/15 | €132,032 | €155,542 | +€23,510 | +17.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €125,832 | €149,342 | +€23,510 | +18.7% |
| Distributable reserves | 133 | €125,832 | €149,342 | +€23,510 | +18.7% |
| Amounts payable | 17/49 | €106,299 | €110,257 | +€3,958 | +3.7% |
| Amounts payable after more than one year | 17 | €2,222 | €5,153 | +€2,931 | +131.9% |
| Financial debts | 170/4 | €2,222 | €5,153 | +€2,931 | +131.9% |
| Amounts payable within one year | 42/48 | €104,077 | €104,119 | +€42 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €15,122 | €19,686 | +€4,563 | +30.2% |
| Trade debts | 44 | €54,597 | €60,285 | +€5,689 | +10.4% |
| Suppliers | 440/4 | €54,597 | €60,285 | +€5,689 | +10.4% |
| Advances received on contracts in progress | 46 | €1,326 | - | -€1,326 | |
| Taxes, remuneration and social security | 45 | €32,708 | €24,147 | -€8,561 | -26.2% |
| Taxes | 450/3 | €21,998 | €6,901 | -€15,097 | -68.6% |
| Remuneration and social security | 454/9 | €10,710 | €17,246 | +€6,536 | +61.0% |
| Other amounts payable | 47/48 | €323 | - | -€323 | |
| Accrued charges and deferred income | 492/3 | - | €985 | +€985 | |
| Remuneration, social security and pensions | 62 | €102,577 | €140,499 | +€37,922 | +37.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,592 | €14,810 | +€2,218 | +17.6% |
| Other operating charges | 640/8 | €3,980 | €1,873 | -€2,107 | -52.9% |
| Gross operating margin | 9900 | €159,397 | €206,490 | +€47,093 | +29.5% |
| Operating profit (loss) | 9901 | €40,248 | €49,309 | +€9,060 | +22.5% |
| Financial income | 75/76B | €3,355 | €96 | -€3,259 | -97.1% |
| Recurring financial income | 75 | €3,355 | €96 | -€3,259 | -97.1% |
| Financial charges | 65/66B | €11,242 | €6,274 | -€4,969 | -44.2% |
| Recurring financial charges | 65 | €11,242 | €6,274 | -€4,969 | -44.2% |
| Profit (loss) for the period before taxes | 9903 | €32,361 | €43,131 | +€10,770 | +33.3% |
| Income taxes | 67/77 | €14,670 | €19,621 | +€4,951 | +33.7% |
| Profit (loss) for the period | 9904 | €17,692 | €23,510 | +€5,819 | +32.9% |
| Profit (loss) for the period to be appropriated | 9905 | €17,692 | €23,510 | +€5,819 | +32.9% |
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 11 October 2026 via checked.be.