DUVARO: 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.
DUVARO
Largest movements
- Tangible fixed assets -€8,468
down €8,468 (-63.8%), from €13,268 to €4,800
of which Leasing and similar rights: -€10,076
- Cash +€6,349
up €6,349 (+9.2%), from €69,150 to €75,500
mainly Depreciation (+€11,277) and Net result for the year (+€5,463)
- Receivables within one year +€4,301
up €4,301 (+16.1%), from €26,751 to €31,051
of which Trade receivables: +€2,486
- Deferred charges and accrued income +€1,727
up €1,727 (+43.5%), from €3,966 to €5,693
- Current portion of long-term debt -€7,333
down €7,333 (-63.4%), from €11,573 to €4,240
- Reserves +€5,463
up €5,463 (+15.7%), from €34,785 to €40,248
- Trade debts +€4,299
up €4,299 (+40.7%), from €10,566 to €14,865
- Other debts +€1,399
up €1,399 (+31.6%), from €4,425 to €5,824
- Depreciation -€3,092
down €3,092 (-21.5%), from €14,369 to €11,277
- Taxes +€2,690
up €2,690 (+90.8%), from €2,962 to €5,653
- Other operating charges -€2,401
down €2,401 (-54.0%), from €4,448 to €2,047
- Financial income -€1,399
down €1,399 (-93.6%), from €1,494 to €95
of which Non-recurring financial income: -€1,472
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 | €113,135 | €117,043 | +€3,908 | +3.5% |
| Fixed assets | 21/28 | €13,268 | €4,800 | -€8,468 | -63.8% |
| Tangible fixed assets | 22/27 | €13,268 | €4,800 | -€8,468 | -63.8% |
| Plant, machinery and equipment | 23 | €1,885 | €3,850 | +€1,965 | +104% |
| Furniture and vehicles | 24 | €357 | €0 | -€357 | -100% |
| Leasing and similar rights | 25 | €11,026 | €950 | -€10,076 | -91.4% |
| Current assets | 29/58 | €99,867 | €112,244 | +€12,377 | +12.4% |
| Amounts receivable within one year | 40/41 | €26,751 | €31,051 | +€4,301 | +16.1% |
| Trade receivables | 40 | €24,713 | €27,199 | +€2,486 | +10.1% |
| Other amounts receivable | 41 | €2,038 | €3,852 | +€1,814 | +89.0% |
| Cash at bank and in hand | 54/58 | €69,150 | €75,500 | +€6,349 | +9.2% |
| Deferred charges and accrued income | 490/1 | €3,966 | €5,693 | +€1,727 | +43.5% |
| Total equity and liabilities | 10/49 | €113,135 | €117,043 | +€3,908 | +3.5% |
| Equity | 10/15 | €84,785 | €90,248 | +€5,463 | +6.4% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €34,785 | €40,248 | +€5,463 | +15.7% |
| Distributable reserves | 133 | €34,785 | €40,248 | +€5,463 | +15.7% |
| Amounts payable | 17/49 | €28,350 | €26,795 | -€1,555 | -5.5% |
| Amounts payable after more than one year | 17 | €864 | €0 | -€864 | -100% |
| Financial debts | 170/4 | €864 | €0 | -€864 | -100% |
| Amounts payable within one year | 42/48 | €27,486 | €26,145 | -€1,341 | -4.9% |
| Current portion of amounts payable after more than one year | 42 | €11,573 | €4,240 | -€7,333 | -63.4% |
| Trade debts | 44 | €10,566 | €14,865 | +€4,299 | +40.7% |
| Suppliers | 440/4 | €10,566 | €14,865 | +€4,299 | +40.7% |
| Taxes, remuneration and social security | 45 | €922 | €1,216 | +€293 | +31.8% |
| Taxes | 450/3 | €922 | €1,216 | +€293 | +31.8% |
| Other amounts payable | 47/48 | €4,425 | €5,824 | +€1,399 | +31.6% |
| Accrued charges and deferred income | 492/3 | - | €650 | +€650 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,369 | €11,277 | -€3,092 | -21.5% |
| Other operating charges | 640/8 | €4,448 | €2,047 | -€2,401 | -54.0% |
| Gross operating margin | 9900 | €27,275 | €27,220 | -€55 | -0.2% |
| Operating profit (loss) | 9901 | €8,458 | €13,896 | +€5,439 | +64.3% |
| Financial income | 75/76B | €1,494 | €95 | -€1,399 | -93.6% |
| Recurring financial income | 75 | €22 | €95 | +€73 | +333% |
| Non-recurring financial income | 76B | €1,472 | €0 | -€1,472 | -100% |
| Financial charges | 65/66B | €2,972 | €2,876 | -€95 | -3.2% |
| Recurring financial charges | 65 | €2,972 | €2,876 | -€95 | -3.2% |
| Profit (loss) for the period before taxes | 9903 | €6,980 | €11,116 | +€4,135 | +59.2% |
| Income taxes | 67/77 | €2,962 | €5,653 | +€2,690 | +90.8% |
| Profit (loss) for the period | 9904 | €4,018 | €5,463 | +€1,445 | +36.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,018 | €5,463 | +€1,445 | +36.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.