DUODEV: 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.
What changed
DUODEV
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€728,631
2024 · -€1.5m+€758,938
Equity
€18.0m
2024 · €18.8m-€728,631
Cash
€1.2m
2024 · €277,487+€887,534
Balance sheet total
€92.9m
2024 · €133.4m-€40.5m
Largest movements
Assets
- Financial fixed assets -€43.7m
down €43.7m (-32.8%), from €133.1m to €89.4m
- Current investments +€2.0m
new in 2025: €2.0m
Equity and liabilities
- Debts after one year -€30.1m
down €30.1m (-29.2%), from €103.1m to €73.1m
of which Financial debts: -€26.0m
- Current portion of long-term debt -€9.7m
down €9.7m (-86.5%), from €11.2m to €1.5m
Income statement
- Financial charges -€10.2m
down €10.2m (-60.8%), from €16.8m to €6.6m
of which Non-recurring financial charges: -€8.2m
- Financial income -€9.5m
down €9.5m (-60.6%), from €15.6m to €6.1m
of which Financial income: -€9.6m
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.
Result 2024
-€1.5m
Write-downs
+€39,422
Other operating charges
+€240
Other operating items
-€37,917
Financial income
-€9.5m
Financial charges
+€10.2m
Result 2025
-€728,631
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.
From operations
-€1.0m
Investment
+€41.7m
Financing
-€39.8m
Cash 2024
€277,487
From operations (derived)
-€1.0m
Net result for the year
-€728,631
Receivables within one year
-€285,051
Smaller working-capital items
+€22,668
Trade debts
-€146,727
Other debts
+€109,525
Investment (derived)
+€41.7m
Investment in fixed assets (net)
+€43.7m
Current investments
-€2.0m
Financing
-€39.8m
Debts after one year
-€30.1m
Current portion of long-term debt
-€9.7m
Contributions, distributions and other
+€0
Cash 2025
€1.2m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €133,404,824 | €92,888,542 | -€40.5m | -30.4% |
| Fixed assets | 21/28 | €133,122,283 | €89,432,500 | -€43.7m | -32.8% |
| Financial fixed assets | 28 | €133,122,283 | €89,432,500 | -€43.7m | -32.8% |
| Affiliated companies | 280/1 | €133,122,283 | €89,432,500 | -€43.7m | -32.8% |
| Participating interests | 280 | €13,191,813 | €13,086,888 | -€104,925 | -0.8% |
| Amounts receivable | 281 | €119,930,470 | €76,345,612 | -€43.6m | -36.3% |
| Current assets | 29/58 | €282,541 | €3,456,042 | +€3.2m | +1123.2% |
| Amounts receivable within one year | 40/41 | €5,054 | €290,105 | +€285,051 | +5640.0% |
| Other amounts receivable | 41 | €5,054 | €290,105 | +€285,051 | +5640.0% |
| Current investments | 50/53 | - | €2,000,000 | +€2.0m | |
| Other investments | 51/53 | - | €2,000,000 | +€2.0m | |
| Cash at bank and in hand | 54/58 | €277,487 | €1,165,021 | +€887,534 | +319.8% |
| Deferred charges and accrued income | 490/1 | - | €916 | +€916 | |
| Total equity and liabilities | 10/49 | €133,404,824 | €92,888,542 | -€40.5m | -30.4% |
| Equity | 10/15 | €18,750,591 | €18,021,960 | -€728,631 | -3.9% |
| Contributions | 10/11 | €3,061,500 | €3,061,500 | = | 0.0% |
| Capital | 10 | €3,061,500 | €3,061,500 | = | 0.0% |
| Issued capital | 100 | €3,061,500 | €3,061,500 | = | 0.0% |
| Reserves | 13 | €444,260 | €444,260 | = | 0.0% |
| Non-distributable reserves | 130/1 | €444,260 | €444,260 | = | 0.0% |
| Legal reserve | 130 | €444,260 | €444,260 | = | 0.0% |
| Profit (loss) carried forward | 14 | €15,244,831 | €14,516,201 | -€728,631 | -4.8% |
| Amounts payable | 17/49 | €114,654,233 | €74,866,582 | -€39.8m | -34.7% |
| Amounts payable after more than one year | 17 | €103,139,274 | €73,057,091 | -€30.1m | -29.2% |
| Financial debts | 170/4 | €52,546,037 | €26,506,371 | -€26.0m | -49.6% |
| Credit institutions | 173 | €8,622,722 | €5,004,909 | -€3.6m | -42.0% |
| Other loans | 174 | €43,923,315 | €21,501,462 | -€22.4m | -51.0% |
| Other amounts payable | 178/9 | €50,593,237 | €46,550,720 | -€4.0m | -8.0% |
| Amounts payable within one year | 42/48 | €11,514,959 | €1,785,908 | -€9.7m | -84.5% |
| Current portion of amounts payable after more than one year | 42 | €11,200,451 | €1,508,601 | -€9.7m | -86.5% |
| Trade debts | 44 | €294,508 | €147,781 | -€146,727 | -49.8% |
| Suppliers | 440/4 | €294,508 | €147,781 | -€146,727 | -49.8% |
| Other amounts payable | 47/48 | €20,000 | €129,525 | +€109,525 | +547.6% |
| Accrued charges and deferred income | 492/3 | - | €23,583 | +€23,583 | |
| Operating income | 70/76A | €139,154 | - | -€139,154 | |
| Other operating income | 74 | €4,724 | - | -€4,724 | |
| Non-recurring operating income | 76A | €134,429 | - | -€134,429 | |
| Operating charges | 60/66A | €434,782 | €293,884 | -€140,898 | -32.4% |
| Services and other goods | 61 | €394,699 | €293,462 | -€101,237 | -25.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €39,422 | - | -€39,422 | |
| Other operating charges | 640/8 | €662 | €422 | -€240 | -36.2% |
| Operating profit (loss) | 9901 | -€295,629 | -€293,884 | +€1,744 | +0.6% |
| Financial income | 75/76B | €15,599,782 | €6,140,208 | -€9.5m | -60.6% |
| Recurring financial income | 75 | €15,599,782 | €5,969,455 | -€9.6m | -61.7% |
| Income from financial fixed assets | 750 | €15,599,748 | €5,968,539 | -€9.6m | -61.7% |
| Income from current assets | 751 | - | €916 | +€916 | |
| Other financial income | 752/9 | €33 | - | -€33 | |
| Non-recurring financial income | 76B | - | €170,753 | +€170,753 | |
| Financial charges | 65/66B | €16,791,722 | €6,574,954 | -€10.2m | -60.8% |
| Recurring financial charges | 65 | €5,702,722 | €3,702,893 | -€2.0m | -35.1% |
| Debt charges | 650 | €5,553,204 | €3,558,945 | -€2.0m | -35.9% |
| Other financial charges | 652/9 | €149,518 | €143,948 | -€5,570 | -3.7% |
| Non-recurring financial charges | 66B | €11,089,000 | €2,872,061 | -€8.2m | -74.1% |
| Profit (loss) for the period before taxes | 9903 | -€1,487,569 | -€728,631 | +€758,938 | +51.0% |
| Profit (loss) for the period | 9904 | -€1,487,569 | -€728,631 | +€758,938 | +51.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,487,569 | -€728,631 | +€758,938 | +51.0% |
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 9 October 2026 via checked.be.