DUTHOIT: 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.
DUTHOIT
Largest movements
- Cash +€58,406
up €58,406 (+10.6%), from €549,570 to €607,976
mainly Other debts (+€100,000) and Tax, wage and social debts (+€45,717)
- Tangible fixed assets -€17,063
down €17,063 (-28.7%), from €59,544 to €42,481
- Stocks and contracts +€9,287
up €9,287 (+6.3%), from €148,384 to €157,671
- Profit (loss) carried forward -€250,789
no longer reported in 2025 (was €250,789)
- Reserves +€153,281
up €153,281 (+32.1%), from €477,947 to €631,229
of which Distributable reserves: +€153,281
- Other debts +€100,000
new in 2025: €100,000
- Tax, wage and social debts +€45,717
up €45,717 (+2,362%), from €1,936 to €47,652
of which Taxes: +€44,246
- Gross operating margin +€10,815
up €10,815 (+13.5%), from €80,108 to €90,922
- Taxes +€2,040
up €2,040 (+21.8%), from €9,370 to €11,409
- Staff costs +€1,357
up €1,357 (+15.8%), from €8,586 to €9,942
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 | €766,468 | €814,758 | +€48,290 | +6.3% |
| Formation expenses | 20 | €1,313 | €995 | -€319 | -24.3% |
| Fixed assets | 21/28 | €59,544 | €42,481 | -€17,063 | -28.7% |
| Tangible fixed assets | 22/27 | €59,544 | €42,481 | -€17,063 | -28.7% |
| Land and buildings | 22 | €29,249 | €22,767 | -€6,482 | -22.2% |
| Plant, machinery and equipment | 23 | €14,461 | €10,979 | -€3,483 | -24.1% |
| Furniture and vehicles | 24 | €15,834 | €8,735 | -€7,099 | -44.8% |
| Current assets | 29/58 | €705,610 | €771,283 | +€65,672 | +9.3% |
| Stocks and contracts in progress | 3 | €148,384 | €157,671 | +€9,287 | +6.3% |
| Stocks | 30/36 | €148,384 | €157,671 | +€9,287 | +6.3% |
| Amounts receivable within one year | 40/41 | €7,657 | €4,810 | -€2,847 | -37.2% |
| Trade receivables | 40 | €3,024 | €4,541 | +€1,516 | +50.1% |
| Other amounts receivable | 41 | €4,633 | €269 | -€4,363 | -94.2% |
| Cash at bank and in hand | 54/58 | €549,570 | €607,976 | +€58,406 | +10.6% |
| Deferred charges and accrued income | 490/1 | - | €826 | +€826 | |
| Total equity and liabilities | 10/49 | €766,468 | €814,758 | +€48,290 | +6.3% |
| Equity | 10/15 | €734,936 | €637,429 | -€97,508 | -13.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €477,947 | €631,229 | +€153,281 | +32.1% |
| Non-distributable reserves | 130/1 | €13,681 | €13,681 | = | 0.0% |
| Reserves not available under the articles | 1311 | €13,681 | €13,681 | = | 0.0% |
| Tax-exempt reserves | 132 | €90,568 | €90,568 | = | 0.0% |
| Distributable reserves | 133 | €373,699 | €526,980 | +€153,281 | +41.0% |
| Profit (loss) carried forward | 14 | €250,789 | - | -€250,789 | |
| Amounts payable | 17/49 | €31,531 | €177,329 | +€145,798 | +462% |
| Amounts payable within one year | 42/48 | €31,521 | €177,329 | +€145,808 | +463% |
| Trade debts | 44 | €29,585 | €29,677 | +€92 | +0.3% |
| Suppliers | 440/4 | €29,585 | €29,677 | +€92 | +0.3% |
| Taxes, remuneration and social security | 45 | €1,936 | €47,652 | +€45,717 | +2,362% |
| Taxes | 450/3 | €331 | €44,577 | +€44,246 | +13,357% |
| Remuneration and social security | 454/9 | €1,605 | €3,075 | +€1,471 | +91.7% |
| Other amounts payable | 47/48 | - | €100,000 | +€100,000 | |
| Accrued charges and deferred income | 492/3 | €10 | - | -€10 | |
| Remuneration, social security and pensions | 62 | €8,586 | €9,942 | +€1,357 | +15.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,735 | €21,273 | -€463 | -2.1% |
| Other operating charges | 640/8 | €1,286 | €1,316 | +€30 | +2.3% |
| Gross operating margin | 9900 | €80,108 | €90,922 | +€10,815 | +13.5% |
| Operating profit (loss) | 9901 | €48,501 | €58,392 | +€9,891 | +20.4% |
| Financial income | 75/76B | €28 | €495 | +€467 | +1,640% |
| Recurring financial income | 75 | €28 | €495 | +€467 | +1,640% |
| Financial charges | 65/66B | €2,317 | €2,128 | -€189 | -8.2% |
| Recurring financial charges | 65 | €2,317 | €2,128 | -€189 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €46,212 | €56,759 | +€10,546 | +22.8% |
| Income taxes | 67/77 | €9,370 | €11,409 | +€2,040 | +21.8% |
| Profit (loss) for the period | 9904 | €36,843 | €45,349 | +€8,507 | +23.1% |
| Profit (loss) for the period to be appropriated | 9905 | €36,843 | €45,349 | +€8,507 | +23.1% |
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.