DUROVAR: 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.
DUROVAR
Largest movements
- Tangible fixed assets +€658,334
up €658,334 (+19.6%), from €3.4m to €4.0m
of which Land and buildings: +€600,597
- Deferred charges and accrued income +€433,388
up €433,388 (+1,666%), from €26,017 to €459,406
- Receivables within one year +€402,340
up €402,340 (+102%), from €394,068 to €796,407
of which Other amounts receivable: +€289,794
- Stocks and contracts +€121,716
up €121,716 (+10.2%), from €1.2m to €1.3m
- Cash -€105,120
down €105,120 (-98.9%), from €106,302 to €1,182
mainly Investment in fixed assets (net) (-€1.1m) and Deferred charges and accrued income (-€433,388)
- Reserves +€852,658
up €852,658 (+69.1%), from €1.2m to €2.1m
of which Tax-exempt reserves: +€439,151
- Debts after one year +€306,595
up €306,595 (+11.8%), from €2.6m to €2.9m
- Trade debts +€235,406
up €235,406 (+55.6%), from €423,453 to €658,858
- Provisions +€141,827
up €141,827 (+1,775%), from €7,988 to €149,816
- Accrued charges and deferred income -€90,578
down €90,578 (-79.8%), from €113,529 to €22,951
- Gross operating margin +€664,101
up €664,101 (+98.2%), from €676,171 to €1.3m
- Depreciation +€93,104
up €93,104 (+28.7%), from €323,909 to €417,013
- Staff costs -€39,241
down €39,241 (-59.0%), from €66,563 to €27,322
- Taxes -€20,215
down €20,215 (-32.8%), from €61,656 to €41,441
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 | €5,141,831 | €6,649,650 | +€1.5m | +29.3% |
| Fixed assets | 21/28 | €3,418,372 | €4,073,867 | +€655,496 | +19.2% |
| Intangible fixed assets | 21 | €5,517 | €2,638 | -€2,878 | -52.2% |
| Tangible fixed assets | 22/27 | €3,361,873 | €4,020,206 | +€658,334 | +19.6% |
| Land and buildings | 22 | €3,011,149 | €3,611,746 | +€600,597 | +19.9% |
| Plant, machinery and equipment | 23 | €288,380 | €334,562 | +€46,182 | +16.0% |
| Furniture and vehicles | 24 | €62,343 | €73,899 | +€11,556 | +18.5% |
| Financial fixed assets | 28 | €50,982 | €51,022 | +€40 | +0.1% |
| Current assets | 29/58 | €1,723,459 | €2,575,783 | +€852,324 | +49.5% |
| Stocks and contracts in progress | 3 | €1,197,072 | €1,318,788 | +€121,716 | +10.2% |
| Stocks | 30/36 | €1,197,072 | €1,318,788 | +€121,716 | +10.2% |
| Amounts receivable within one year | 40/41 | €394,068 | €796,407 | +€402,340 | +102% |
| Trade receivables | 40 | €44,429 | €156,974 | +€112,545 | +253% |
| Other amounts receivable | 41 | €349,639 | €639,433 | +€289,794 | +82.9% |
| Cash at bank and in hand | 54/58 | €106,302 | €1,182 | -€105,120 | -98.9% |
| Deferred charges and accrued income | 490/1 | €26,017 | €459,406 | +€433,388 | +1,666% |
| Total equity and liabilities | 10/49 | €5,141,831 | €6,649,650 | +€1.5m | +29.3% |
| Equity | 10/15 | €1,668,363 | €2,515,027 | +€846,665 | +50.7% |
| Contributions | 10/11 | €174,789 | €204,604 | +€29,815 | +17.1% |
| Revaluation surpluses | 12 | €107,993 | €92,566 | -€15,428 | -14.3% |
| Reserves | 13 | €1,233,800 | €2,086,458 | +€852,658 | +69.1% |
| Non-distributable reserves | 130/1 | €11,485 | €11,485 | = | 0.0% |
| Reserves not available under the articles | 1311 | €11,485 | €11,485 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €439,151 | +€439,151 | |
| Distributable reserves | 133 | €1,222,315 | €1,635,822 | +€413,507 | +33.8% |
| Investment grants | 15 | €151,780 | €131,399 | -€20,381 | -13.4% |
| Provisions and deferred taxes | 16 | €7,988 | €149,816 | +€141,827 | +1,775% |
| Deferred taxes | 168 | €7,988 | €149,816 | +€141,827 | +1,775% |
| Amounts payable | 17/49 | €3,465,480 | €3,984,807 | +€519,327 | +15.0% |
| Amounts payable after more than one year | 17 | €2,590,847 | €2,897,441 | +€306,595 | +11.8% |
| Financial debts | 170/4 | €2,590,847 | €2,897,441 | +€306,595 | +11.8% |
| Amounts payable within one year | 42/48 | €761,105 | €1,064,415 | +€303,310 | +39.9% |
| Current portion of amounts payable after more than one year | 42 | €256,812 | €290,285 | +€33,473 | +13.0% |
| Financial debts | 43 | - | €7,226 | +€7,226 | |
| Credit institutions | 430/8 | - | €7,226 | +€7,226 | |
| Trade debts | 44 | €423,453 | €658,858 | +€235,406 | +55.6% |
| Suppliers | 440/4 | €423,453 | €658,858 | +€235,406 | +55.6% |
| Taxes, remuneration and social security | 45 | €80,840 | €108,046 | +€27,206 | +33.7% |
| Taxes | 450/3 | €71,319 | €103,753 | +€32,435 | +45.5% |
| Remuneration and social security | 454/9 | €9,521 | €4,292 | -€5,229 | -54.9% |
| Accrued charges and deferred income | 492/3 | €113,529 | €22,951 | -€90,578 | -79.8% |
| Non-recurring operating income | 76A | - | €598,999 | +€598,999 | |
| Remuneration, social security and pensions | 62 | €66,563 | €27,322 | -€39,241 | -59.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €323,909 | €417,013 | +€93,104 | +28.7% |
| Other operating charges | 640/8 | €14,029 | €17,603 | +€3,574 | +25.5% |
| Non-recurring operating charges | 66A | €14,632 | €70,000 | +€55,368 | +378% |
| Gross operating margin | 9900 | €676,171 | €1,340,272 | +€664,101 | +98.2% |
| Operating profit (loss) | 9901 | €257,038 | €808,334 | +€551,296 | +214% |
| Financial income | 75/76B | €35,719 | €42,619 | +€6,900 | +19.3% |
| Recurring financial income | 75 | €35,719 | €42,619 | +€6,900 | +19.3% |
| Financial charges | 65/66B | €107,991 | €117,153 | +€9,161 | +8.5% |
| Recurring financial charges | 65 | €107,991 | €117,153 | +€9,161 | +8.5% |
| Profit (loss) for the period before taxes | 9903 | €184,765 | €733,800 | +€549,034 | +297% |
| Transfer to deferred taxes | 680 | - | €142,900 | +€142,900 | |
| Income taxes | 67/77 | €61,656 | €41,441 | -€20,215 | -32.8% |
| Profit (loss) for the period | 9904 | €123,110 | €549,459 | +€426,349 | +346% |
| Transfer from tax-exempt reserves | 789 | €1,072 | €1,073 | +€0 | 0.0% |
| Transfer to tax-exempt reserves | 689 | - | €428,700 | +€428,700 | |
| Profit (loss) for the period to be appropriated | 9905 | €124,182 | €121,832 | -€2,350 | -1.9% |
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 21 October 2026 via checked.be.