DUSART: 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.
DUSART
Largest movements
- Cash -€97,993
down €97,993 (-46.1%), from €212,548 to €114,555
mainly Investment in fixed assets (net) (-€70,441) and Receivables within one year (-€38,022)
- Tangible fixed assets +€46,659
up €46,659 (+48.5%), from €96,159 to €142,818
of which Other tangible fixed assets: +€51,849
- Receivables within one year +€38,022
up €38,022 (+526%), from €7,224 to €45,246
of which Other amounts receivable: +€25,221
- Deferred charges and accrued income +€6,344
up €6,344 (+101%), from €6,285 to €12,630
- Reserves +€35,477
up €35,477 (+19.9%), from €177,844 to €213,321
of which Distributable reserves: +€35,477
- Trade debts -€29,491
down €29,491 (-24.6%), from €119,825 to €90,334
- Gross operating margin -€52,739
down €52,739 (-14.5%), from €363,746 to €311,007
- Taxes -€22,183
down €22,183 (-70.1%), from €31,661 to €9,477
- Staff costs +€19,578
up €19,578 (+9.2%), from €213,868 to €233,446
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 | €549,914 | €547,080 | -€2,834 | -0.5% |
| Fixed assets | 21/28 | €96,159 | €142,818 | +€46,659 | +48.5% |
| Tangible fixed assets | 22/27 | €96,159 | €142,818 | +€46,659 | +48.5% |
| Furniture and vehicles | 24 | €1,595 | €835 | -€760 | -47.6% |
| Other tangible fixed assets | 26 | €90,134 | €141,983 | +€51,849 | +57.5% |
| Assets under construction and advance payments | 27 | €4,430 | €0 | -€4,430 | -100% |
| Current assets | 29/58 | €453,755 | €404,262 | -€49,493 | -10.9% |
| Stocks and contracts in progress | 3 | €227,698 | €231,831 | +€4,133 | +1.8% |
| Stocks | 30/36 | €227,698 | €231,831 | +€4,133 | +1.8% |
| Amounts receivable within one year | 40/41 | €7,224 | €45,246 | +€38,022 | +526% |
| Trade receivables | 40 | €6,724 | €19,525 | +€12,801 | +190% |
| Other amounts receivable | 41 | €500 | €25,721 | +€25,221 | +5,045% |
| Cash at bank and in hand | 54/58 | €212,548 | €114,555 | -€97,993 | -46.1% |
| Deferred charges and accrued income | 490/1 | €6,285 | €12,630 | +€6,344 | +101% |
| Total equity and liabilities | 10/49 | €549,914 | €547,080 | -€2,834 | -0.5% |
| Equity | 10/15 | €338,439 | €373,916 | +€35,477 | +10.5% |
| Contributions | 10/11 | €62,400 | €62,400 | = | 0.0% |
| Capital | 10 | €62,400 | €62,400 | = | 0.0% |
| Issued capital | 100 | €62,400 | €62,400 | = | 0.0% |
| Reserves | 13 | €177,844 | €213,321 | +€35,477 | +19.9% |
| Non-distributable reserves | 130/1 | €6,240 | €6,240 | = | 0.0% |
| Legal reserve | 130 | €6,240 | €6,240 | = | 0.0% |
| Distributable reserves | 133 | €171,604 | €207,081 | +€35,477 | +20.7% |
| Profit (loss) carried forward | 14 | €98,195 | €98,195 | = | 0.0% |
| Amounts payable | 17/49 | €211,475 | €173,164 | -€38,311 | -18.1% |
| Amounts payable within one year | 42/48 | €196,704 | €162,524 | -€34,180 | -17.4% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €119,825 | €90,334 | -€29,491 | -24.6% |
| Suppliers | 440/4 | €119,825 | €90,334 | -€29,491 | -24.6% |
| Taxes, remuneration and social security | 45 | €74,323 | €69,635 | -€4,688 | -6.3% |
| Taxes | 450/3 | €38,828 | €26,295 | -€12,533 | -32.3% |
| Remuneration and social security | 454/9 | €35,495 | €43,340 | +€7,844 | +22.1% |
| Other amounts payable | 47/48 | €2,555 | €2,555 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €14,771 | €10,640 | -€4,131 | -28.0% |
| Remuneration, social security and pensions | 62 | €213,868 | €233,446 | +€19,578 | +9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,319 | €23,782 | -€537 | -2.2% |
| Other operating charges | 640/8 | €3,701 | €3,996 | +€295 | +8.0% |
| Non-recurring operating charges | 66A | €7,617 | €0 | -€7,617 | -100% |
| Gross operating margin | 9900 | €363,746 | €311,007 | -€52,739 | -14.5% |
| Operating profit (loss) | 9901 | €114,241 | €49,783 | -€64,459 | -56.4% |
| Financial income | 75/76B | €1,790 | €1,315 | -€475 | -26.5% |
| Recurring financial income | 75 | €1,790 | €1,315 | -€475 | -26.5% |
| Financial charges | 65/66B | €7,766 | €6,144 | -€1,622 | -20.9% |
| Recurring financial charges | 65 | €7,766 | €6,144 | -€1,622 | -20.9% |
| Profit (loss) for the period before taxes | 9903 | €108,265 | €44,954 | -€63,311 | -58.5% |
| Income taxes | 67/77 | €31,661 | €9,477 | -€22,183 | -70.1% |
| Profit (loss) for the period | 9904 | €76,604 | €35,477 | -€41,128 | -53.7% |
| Profit (loss) for the period to be appropriated | 9905 | €76,604 | €35,477 | -€41,128 | -53.7% |
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 15 October 2026 via checked.be.