DUTVER: what changed
Two fiscal 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.
DUTVER
Largest movements
- Formation expenses -€46,592
down €46,592 (-100.0%), from €46,602 to €10
- Stocks and contracts -€10,949
down €10,949 (-37.6%), from €29,139 to €18,191
- Receivables within one year +€9,959
up €9,959 (+55.6%), from €17,920 to €27,878
of which Trade receivables: +€10,633
- Deferred charges and accrued income -€6,372
down €6,372 (-99.0%), from €6,436 to €64
- Debts after one year -€48,680
down €48,680 (-19.0%), from €255,659 to €206,979
- Other debts -€33,275
down €33,275 (-8.3%), from €403,012 to €369,737
- Trade debts +€26,107
new in 2025: €26,107
- Current portion of long-term debt +€16,739
up €16,739 (+266.6%), from €6,279 to €23,018
- Tax, wage and social debts -€10,395
down €10,395 (-71.1%), from €14,614 to €4,219
- Gross operating margin +€30,580
up €30,580 (+72.0%), from €42,489 to €73,070
- Depreciation +€5,266
up €5,266 (+11.3%), from €46,656 to €51,922
- Other operating charges +€1,953
up €1,953 (+97.2%), from €2,010 to €3,963
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €589,188 | €540,784 | -€48,404 | -8.2% |
| Formation expenses | 20 | €46,602 | €10 | -€46,592 | -100.0% |
| Fixed assets | 21/28 | €483,035 | €485,385 | +€2,350 | +0.5% |
| Tangible fixed assets | 22/27 | €483,035 | €485,385 | +€2,350 | +0.5% |
| Land and buildings | 22 | €416,273 | €441,987 | +€25,714 | +6.2% |
| Plant, machinery and equipment | 23 | €31,181 | €18,520 | -€12,662 | -40.6% |
| Furniture and vehicles | 24 | €35,581 | €24,879 | -€10,702 | -30.1% |
| Current assets | 29/58 | €59,551 | €55,389 | -€4,162 | -7.0% |
| Stocks and contracts in progress | 3 | €29,139 | €18,191 | -€10,949 | -37.6% |
| Stocks | 30/36 | €29,139 | €18,191 | -€10,949 | -37.6% |
| Amounts receivable within one year | 40/41 | €17,920 | €27,878 | +€9,959 | +55.6% |
| Trade receivables | 40 | €17,245 | €27,878 | +€10,633 | +61.7% |
| Other amounts receivable | 41 | €675 | - | -€675 | |
| Cash at bank and in hand | 54/58 | €6,056 | €9,256 | +€3,199 | +52.8% |
| Deferred charges and accrued income | 490/1 | €6,436 | €64 | -€6,372 | -99.0% |
| Total equity and liabilities | 10/49 | €589,188 | €540,784 | -€48,404 | -8.2% |
| Equity | 10/15 | -€90,376 | -€89,627 | +€749 | +0.8% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€105,376 | -€104,627 | +€749 | +0.7% |
| Amounts payable | 17/49 | €679,564 | €630,411 | -€49,153 | -7.2% |
| Amounts payable after more than one year | 17 | €255,659 | €206,979 | -€48,680 | -19.0% |
| Financial debts | 170/4 | €255,659 | €206,979 | -€48,680 | -19.0% |
| Amounts payable within one year | 42/48 | €423,905 | €423,081 | -€823 | -0.2% |
| Current portion of amounts payable after more than one year | 42 | €6,279 | €23,018 | +€16,739 | +266.6% |
| Trade debts | 44 | - | €26,107 | +€26,107 | |
| Suppliers | 440/4 | - | €26,107 | +€26,107 | |
| Taxes, remuneration and social security | 45 | €14,614 | €4,219 | -€10,395 | -71.1% |
| Taxes | 450/3 | €14,614 | €4,219 | -€10,395 | -71.1% |
| Other amounts payable | 47/48 | €403,012 | €369,737 | -€33,275 | -8.3% |
| Accrued charges and deferred income | 492/3 | - | €350 | +€350 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,656 | €51,922 | +€5,266 | +11.3% |
| Other operating charges | 640/8 | €2,010 | €3,963 | +€1,953 | +97.2% |
| Gross operating margin | 9900 | €42,489 | €73,070 | +€30,580 | +72.0% |
| Operating profit (loss) | 9901 | -€6,177 | €17,185 | +€23,362 | |
| Financial income | 75/76B | €65 | €544 | +€478 | +731.8% |
| Recurring financial income | 75 | €65 | €544 | +€478 | +731.8% |
| Financial charges | 65/66B | €4,852 | €4,877 | +€25 | +0.5% |
| Recurring financial charges | 65 | €4,852 | €4,877 | +€25 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | -€10,964 | €12,851 | +€23,815 | |
| Income taxes | 67/77 | - | €141 | +€141 | |
| Profit (loss) for the period | 9904 | -€10,964 | €12,710 | +€23,674 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,964 | €12,710 | +€23,674 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.