DUVAL CHRISTOPHE: 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.
DUVAL CHRISTOPHE
Largest movements
- Receivables within one year +€22,937
up €22,937 (+61.3%), from €37,444 to €60,381
of which Other amounts receivable: +€30,579
- Tangible fixed assets -€14,106
down €14,106 (-11.6%), from €121,334 to €107,228
of which Furniture and vehicles: -€10,256
- Cash -€11,852
down €11,852 (-22.4%), from €52,830 to €40,978
mainly Receivables within one year (-€22,937) and Current portion of long-term debt (-€16,205)
- Deferred charges and accrued income -€2,780
down €2,780 (-77.4%), from €3,594 to €814
- Trade debts +€17,490
up €17,490 (+919%), from €1,904 to €19,393
- Current portion of long-term debt -€16,205
down €16,205 (-42.6%), from €38,013 to €21,809
- Debts after one year -€11,809
down €11,809 (-8.9%), from €132,691 to €120,883
- Profit (loss) carried forward +€2,868
up €2,868 (+12.0%), from €23,931 to €26,799
- Financial charges -€73,803
down €73,803 (-83.5%), from €88,342 to €14,539
of which Non-recurring financial charges: -€73,005
- Gross operating margin -€41,668
down €41,668 (-41.7%), from €99,942 to €58,274
- Depreciation -€15,231
down €15,231 (-40.1%), from €38,005 to €22,774
- Other operating charges +€11,837
up €11,837 (+581%), from €2,038 to €13,875
- Taxes -€8,308
down €8,308 (-77.3%), from €10,743 to €2,434
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 | €218,343 | €211,113 | -€7,230 | -3.3% |
| Fixed assets | 21/28 | €124,475 | €108,940 | -€15,535 | -12.5% |
| Intangible fixed assets | 21 | €2,730 | €1,301 | -€1,429 | -52.3% |
| Tangible fixed assets | 22/27 | €121,334 | €107,228 | -€14,106 | -11.6% |
| Land and buildings | 22 | €87,535 | €84,445 | -€3,090 | -3.5% |
| Plant, machinery and equipment | 23 | €3,117 | €2,356 | -€760 | -24.4% |
| Furniture and vehicles | 24 | €30,682 | €20,426 | -€10,256 | -33.4% |
| Financial fixed assets | 28 | €412 | €412 | = | 0.0% |
| Current assets | 29/58 | €93,868 | €102,173 | +€8,305 | +8.8% |
| Amounts receivable within one year | 40/41 | €37,444 | €60,381 | +€22,937 | +61.3% |
| Trade receivables | 40 | €14,093 | €6,450 | -€7,642 | -54.2% |
| Other amounts receivable | 41 | €23,351 | €53,930 | +€30,579 | +131% |
| Cash at bank and in hand | 54/58 | €52,830 | €40,978 | -€11,852 | -22.4% |
| Deferred charges and accrued income | 490/1 | €3,594 | €814 | -€2,780 | -77.4% |
| Total equity and liabilities | 10/49 | €218,343 | €211,113 | -€7,230 | -3.3% |
| Equity | 10/15 | €40,931 | €43,799 | +€2,868 | +7.0% |
| Contributions | 10/11 | €17,000 | €17,000 | = | 0.0% |
| Contributions outside capital | 11 | €17,000 | €17,000 | = | 0.0% |
| Other | 1109/19 | €17,000 | €17,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €23,931 | €26,799 | +€2,868 | +12.0% |
| Amounts payable | 17/49 | €177,412 | €167,314 | -€10,098 | -5.7% |
| Amounts payable after more than one year | 17 | €132,691 | €120,883 | -€11,809 | -8.9% |
| Financial debts | 170/4 | €132,691 | €120,883 | -€11,809 | -8.9% |
| Amounts payable within one year | 42/48 | €44,720 | €46,431 | +€1,711 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €38,013 | €21,809 | -€16,205 | -42.6% |
| Trade debts | 44 | €1,904 | €19,393 | +€17,490 | +919% |
| Suppliers | 440/4 | €1,904 | €19,393 | +€17,490 | +919% |
| Taxes, remuneration and social security | 45 | €4,803 | €5,229 | +€426 | +8.9% |
| Taxes | 450/3 | €4,803 | €5,229 | +€426 | +8.9% |
| Remuneration, social security and pensions | 62 | €3,587 | €3,581 | -€6 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,005 | €22,774 | -€15,231 | -40.1% |
| Other operating charges | 640/8 | €2,038 | €13,875 | +€11,837 | +581% |
| Gross operating margin | 9900 | €99,942 | €58,274 | -€41,668 | -41.7% |
| Operating profit (loss) | 9901 | €56,311 | €18,043 | -€38,268 | -68.0% |
| Financial income | 75/76B | €1,368 | €1,798 | +€430 | +31.4% |
| Recurring financial income | 75 | €785 | €1,798 | +€1,014 | +129% |
| Non-recurring financial income | 76B | €584 | - | -€584 | |
| Financial charges | 65/66B | €88,342 | €14,539 | -€73,803 | -83.5% |
| Recurring financial charges | 65 | €11,498 | €10,701 | -€797 | -6.9% |
| Non-recurring financial charges | 66B | €76,844 | €3,839 | -€73,005 | -95.0% |
| Profit (loss) for the period before taxes | 9903 | -€30,662 | €5,303 | +€35,965 | |
| Income taxes | 67/77 | €10,743 | €2,434 | -€8,308 | -77.3% |
| Profit (loss) for the period | 9904 | -€41,405 | €2,868 | +€44,273 | |
| Profit (loss) for the period to be appropriated | 9905 | -€41,405 | €2,868 | +€44,273 |
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.