Duthoo: 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
Duthoo
NACE 46.831, Wholesale of construction materials, general range
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.6m
2024 · €1.2m+€327,699
Equity
€9.3m
2024 · €8.1m+€1.2m
Cash
€944,159
2024 · €729,747+€214,412
Balance sheet total
€12.1m
2024 · €11.0m+€1.1m
Largest movements
Assets
- Current investments +€1.6m
up €1.6m (+41.7%), from €3.8m to €5.4m
- Tangible fixed assets -€526,912
down €526,912 (-15.4%), from €3.4m to €2.9m
of which Land and buildings: -€269,518
- Cash +€214,412
up €214,412 (+29.4%), from €729,747 to €944,159
mainly Net result for the year (+€1.6m) and Depreciation (+€650,403)
Equity and liabilities
- Reserves +€1.2m
up €1.2m (+15.4%), from €7.9m to €9.2m
of which Distributable reserves: +€803,917
- Debts after one year -€333,336
down €333,336 (-16.7%), from €2.0m to €1.7m
- Other debts +€200,000
up €200,000 (+80.0%), from €250,000 to €450,000
Income statement
- Gross operating margin +€416,928
up €416,928 (+11.3%), from €3.7m to €4.1m
- Depreciation -€63,032
down €63,032 (-8.8%), from €713,435 to €650,403
- Taxes +€57,577
up €57,577 (+27.5%), from €209,041 to €266,618
- Staff costs +€53,119
up €53,119 (+3.3%), from €1.6m to €1.7m
- Financial charges +€47,972
up €47,972 (+114.6%), from €41,850 to €89,823
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
€1.2m
Gross operating margin
+€416,928
Staff costs
-€53,119
Depreciation
+€63,032
Write-downs
+€9,504
Other operating charges
+€1,867
Financial income
-€4,964
Financial charges
-€47,972
Taxes
-€57,577
Result 2025
€1.6m
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
+€2.6m
Investment
-€1.7m
Financing
-€683,336
Cash 2024
€729,747
From operations (derived)
+€2.6m
Net result for the year
+€1.6m
Depreciation
+€650,403
Receivables after one year
+€82,852
Stocks and contracts
+€14,120
Receivables within one year
+€7,235
Deferred charges and accrued income
+€5,059
Trade debts
+€61,566
Tax, wage and social debts
-€7,212
Other debts
+€200,000
Accrued charges and deferred income
+€2,205
Investment (derived)
-€1.7m
Investment in fixed assets (net)
-€100,768
Current investments
-€1.6m
Financing
-€683,336
Debts after one year
-€333,336
Contributions, distributions and other
-€350,000
Cash 2025
€944,159
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,987,496 | €12,135,634 | +€1.1m | +10.4% |
| Fixed assets | 21/28 | €3,523,485 | €2,973,849 | -€549,635 | -15.6% |
| Intangible fixed assets | 21 | €91,032 | €43,310 | -€47,723 | -52.4% |
| Tangible fixed assets | 22/27 | €3,432,452 | €2,905,540 | -€526,912 | -15.4% |
| Land and buildings | 22 | €2,719,121 | €2,449,603 | -€269,518 | -9.9% |
| Plant, machinery and equipment | 23 | €501,841 | €325,059 | -€176,782 | -35.2% |
| Furniture and vehicles | 24 | €211,490 | €130,878 | -€80,613 | -38.1% |
| Financial fixed assets | 28 | - | €25,000 | +€25,000 | |
| Current assets | 29/58 | €7,464,011 | €9,161,785 | +€1.7m | +22.7% |
| Amounts receivable after more than one year | 29 | €346,836 | €263,984 | -€82,852 | -23.9% |
| Other amounts receivable | 291 | €346,836 | €263,984 | -€82,852 | -23.9% |
| Stocks and contracts in progress | 3 | €1,138,041 | €1,123,921 | -€14,120 | -1.2% |
| Stocks | 30/36 | €1,138,041 | €1,123,921 | -€14,120 | -1.2% |
| Amounts receivable within one year | 40/41 | €1,401,244 | €1,394,009 | -€7,235 | -0.5% |
| Trade receivables | 40 | €757,847 | €956,172 | +€198,326 | +26.2% |
| Other amounts receivable | 41 | €643,397 | €437,836 | -€205,560 | -31.9% |
| Current investments | 50/53 | €3,821,311 | €5,413,938 | +€1.6m | +41.7% |
| Cash at bank and in hand | 54/58 | €729,747 | €944,159 | +€214,412 | +29.4% |
| Deferred charges and accrued income | 490/1 | €26,833 | €21,774 | -€5,059 | -18.9% |
| Total equity and liabilities | 10/49 | €10,987,496 | €12,135,634 | +€1.1m | +10.4% |
| Equity | 10/15 | €8,078,010 | €9,302,927 | +€1.2m | +15.2% |
| Contributions | 10/11 | €148,736 | €148,736 | = | 0.0% |
| Capital | 10 | €148,736 | €148,736 | = | 0.0% |
| Issued capital | 100 | €148,736 | €148,736 | = | 0.0% |
| Reserves | 13 | €7,929,274 | €9,154,191 | +€1.2m | +15.4% |
| Non-distributable reserves | 130/1 | €14,874 | €14,874 | = | 0.0% |
| Legal reserve | 130 | €14,874 | €14,874 | = | 0.0% |
| Tax-exempt reserves | 132 | €634,213 | €1,055,213 | +€421,000 | +66.4% |
| Distributable reserves | 133 | €7,280,187 | €8,084,104 | +€803,917 | +11.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,909,485 | €2,832,707 | -€76,778 | -2.6% |
| Amounts payable after more than one year | 17 | €1,999,984 | €1,666,648 | -€333,336 | -16.7% |
| Financial debts | 170/4 | €1,999,984 | €1,666,648 | -€333,336 | -16.7% |
| Amounts payable within one year | 42/48 | €906,973 | €1,161,327 | +€254,354 | +28.0% |
| Current portion of amounts payable after more than one year | 42 | €333,336 | €333,336 | = | 0.0% |
| Trade debts | 44 | €109,454 | €171,020 | +€61,566 | +56.2% |
| Suppliers | 440/4 | €109,454 | €171,020 | +€61,566 | +56.2% |
| Taxes, remuneration and social security | 45 | €214,183 | €206,971 | -€7,212 | -3.4% |
| Taxes | 450/3 | €58,777 | €44,788 | -€13,989 | -23.8% |
| Remuneration and social security | 454/9 | €155,406 | €162,183 | +€6,777 | +4.4% |
| Other amounts payable | 47/48 | €250,000 | €450,000 | +€200,000 | +80.0% |
| Accrued charges and deferred income | 492/3 | €2,528 | €4,733 | +€2,205 | +87.2% |
| Non-recurring operating income | 76A | €0 | €228 | +€228 | |
| Remuneration, social security and pensions | 62 | €1,629,653 | €1,682,771 | +€53,119 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €713,435 | €650,403 | -€63,032 | -8.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €9,504 | €0 | -€9,504 | -100.0% |
| Other operating charges | 640/8 | €46,045 | €44,178 | -€1,867 | -4.1% |
| Gross operating margin | 9900 | €3,686,298 | €4,103,225 | +€416,928 | +11.3% |
| Operating profit (loss) | 9901 | €1,287,661 | €1,725,872 | +€438,212 | +34.0% |
| Financial income | 75/76B | €210,449 | €205,486 | -€4,964 | -2.4% |
| Recurring financial income | 75 | €210,449 | €205,486 | -€4,964 | -2.4% |
| Financial charges | 65/66B | €41,850 | €89,823 | +€47,972 | +114.6% |
| Recurring financial charges | 65 | €41,850 | €89,823 | +€47,972 | +114.6% |
| Profit (loss) for the period before taxes | 9903 | €1,456,259 | €1,841,535 | +€385,276 | +26.5% |
| Income taxes | 67/77 | €209,041 | €266,618 | +€57,577 | +27.5% |
| Profit (loss) for the period | 9904 | €1,247,218 | €1,574,917 | +€327,699 | +26.3% |
| Transfer from tax-exempt reserves | 789 | €604,179 | €0 | -€604,179 | -100.0% |
| Transfer to tax-exempt reserves | 689 | €315,750 | €421,000 | +€105,250 | +33.3% |
| Profit (loss) for the period to be appropriated | 9905 | €1,535,647 | €1,153,917 | -€381,730 | -24.9% |
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 10 October 2026 via checked.be.