DUPLICATA: 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.
DUPLICATA
Largest movements
- Stocks and contracts +€571,284
up €571,284 (+414%), from €137,938 to €709,222
- Receivables within one year +€119,195
up €119,195 (+256%), from €46,637 to €165,832
of which Trade receivables: +€83,473
- Other debts +€679,886
up €679,886 (+4,183%), from €16,253 to €696,139
- Trade debts +€133,839
up €133,839 (+600%), from €22,295 to €156,134
- Debts after one year -€132,429
no longer reported in 2025 (was €132,429)
- Profit (loss) carried forward +€59,047
up €59,047, from -€28,906 to €30,140
- Short-term financial debts -€25,549
no longer reported in 2025 (was €25,549)
- Gross operating margin +€97,388
up €97,388 (+1,625%), from €5,991 to €103,379
- Taxes +€11,271
up €11,271 (+8,079%), from €140 to €11,411
- Other operating charges +€8,084
up €8,084 (+319%), from €2,533 to €10,617
- Depreciation -€2,667
down €2,667 (-17.9%), from €14,925 to €12,257
- Financial charges +€1,319
up €1,319 (+22.5%), from €5,862 to €7,181
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 | €212,897 | €908,338 | +€695,440 | +327% |
| Fixed assets | 21/28 | €28,009 | €24,798 | -€3,211 | -11.5% |
| Tangible fixed assets | 22/27 | €28,009 | €24,798 | -€3,211 | -11.5% |
| Plant, machinery and equipment | 23 | €23,542 | €15,664 | -€7,879 | -33.5% |
| Furniture and vehicles | 24 | €4,467 | €9,134 | +€4,667 | +104% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €184,888 | €883,540 | +€698,652 | +378% |
| Stocks and contracts in progress | 3 | €137,938 | €709,222 | +€571,284 | +414% |
| Stocks | 30/36 | €137,938 | €709,222 | +€571,284 | +414% |
| Amounts receivable within one year | 40/41 | €46,637 | €165,832 | +€119,195 | +256% |
| Trade receivables | 40 | €36,068 | €119,541 | +€83,473 | +231% |
| Other amounts receivable | 41 | €10,570 | €46,291 | +€35,722 | +338% |
| Cash at bank and in hand | 54/58 | €312 | €6,257 | +€5,944 | +1,903% |
| Deferred charges and accrued income | 490/1 | - | €2,229 | +€2,229 | |
| Total equity and liabilities | 10/49 | €212,897 | €908,338 | +€695,440 | +327% |
| Equity | 10/15 | -€14,393 | €44,654 | +€59,047 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €8,313 | €8,313 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €6,453 | €6,453 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,906 | €30,140 | +€59,047 | |
| Amounts payable | 17/49 | €227,290 | €863,684 | +€636,394 | +280% |
| Amounts payable after more than one year | 17 | €132,429 | - | -€132,429 | |
| Financial debts | 170/4 | €132,429 | - | -€132,429 | |
| Amounts payable within one year | 42/48 | €94,861 | €863,684 | +€768,822 | +810% |
| Current portion of amounts payable after more than one year | 42 | €9,416 | - | -€9,416 | |
| Financial debts | 43 | €25,549 | - | -€25,549 | |
| Credit institutions | 430/8 | €25,549 | - | -€25,549 | |
| Trade debts | 44 | €22,295 | €156,134 | +€133,839 | +600% |
| Suppliers | 440/4 | €22,295 | €156,134 | +€133,839 | +600% |
| Advances received on contracts in progress | 46 | €21,209 | - | -€21,209 | |
| Taxes, remuneration and social security | 45 | €140 | €11,411 | +€11,271 | +8,079% |
| Taxes | 450/3 | €140 | €11,411 | +€11,271 | +8,079% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €16,253 | €696,139 | +€679,886 | +4,183% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,925 | €12,257 | -€2,667 | -17.9% |
| Other operating charges | 640/8 | €2,533 | €10,617 | +€8,084 | +319% |
| Non-recurring operating charges | 66A | - | €2,867 | +€2,867 | |
| Gross operating margin | 9900 | €5,991 | €103,379 | +€97,388 | +1,625% |
| Operating profit (loss) | 9901 | -€11,466 | €77,638 | +€89,104 | |
| Financial charges | 65/66B | €5,862 | €7,181 | +€1,319 | +22.5% |
| Recurring financial charges | 65 | €5,862 | €7,181 | +€1,319 | +22.5% |
| Profit (loss) for the period before taxes | 9903 | -€17,328 | €70,458 | +€87,785 | |
| Income taxes | 67/77 | €140 | €11,411 | +€11,271 | +8,079% |
| Profit (loss) for the period | 9904 | -€17,467 | €59,047 | +€76,514 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,467 | €59,047 | +€76,514 |
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 17 October 2026 via checked.be.