DUVATEX: 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.
DUVATEX
Largest movements
- Receivables within one year -€120,452
down €120,452 (-21.9%), from €550,056 to €429,604
- Cash -€51,653
down €51,653 (-29.9%), from €172,966 to €121,313
mainly Other debts (-€263,850) and Contributions, distributions and other (-€230,000)
- Tangible fixed assets -€43,999
down €43,999 (-3.7%), from €1.2m to €1.1m
of which Furniture and vehicles: -€31,908
- Stocks and contracts +€43,569
up €43,569 (+4.9%), from €892,542 to €936,111
- Other debts -€263,850
down €263,850 (-61.6%), from €428,135 to €164,285
- Reserves +€112,779
up €112,779 (+12.3%), from €914,998 to €1.0m
of which Distributable reserves: +€112,779
- Debts after one year -€103,842
down €103,842 (-16.5%), from €628,752 to €524,910
- Trade debts +€32,347
up €32,347 (+39.0%), from €83,009 to €115,356
- Accrued charges and deferred income +€32,244
new in 2025: €32,244
- Staff costs -€203,143
down €203,143 (-20.5%), from €990,915 to €787,772
- Gross operating margin -€106,645
down €106,645 (-7.6%), from €1.4m to €1.3m
- Other operating charges -€39,992
down €39,992 (-38.1%), from €105,055 to €65,063
- Taxes +€32,573
up €32,573 (+252%), from €12,925 to €45,498
- Depreciation -€16,550
down €16,550 (-22.0%), from €75,166 to €58,616
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 | €2,798,491 | €2,625,956 | -€172,535 | -6.2% |
| Fixed assets | 21/28 | €1,182,927 | €1,138,928 | -€43,999 | -3.7% |
| Tangible fixed assets | 22/27 | €1,182,927 | €1,138,928 | -€43,999 | -3.7% |
| Land and buildings | 22 | €1,015,068 | €1,016,009 | +€941 | +0.1% |
| Plant, machinery and equipment | 23 | €42,875 | €29,843 | -€13,032 | -30.4% |
| Furniture and vehicles | 24 | €124,984 | €93,076 | -€31,908 | -25.5% |
| Current assets | 29/58 | €1,615,564 | €1,487,028 | -€128,536 | -8.0% |
| Stocks and contracts in progress | 3 | €892,542 | €936,111 | +€43,569 | +4.9% |
| Stocks | 30/36 | €892,542 | €936,111 | +€43,569 | +4.9% |
| Amounts receivable within one year | 40/41 | €550,056 | €429,604 | -€120,452 | -21.9% |
| Trade receivables | 40 | €550,056 | €429,604 | -€120,452 | -21.9% |
| Cash at bank and in hand | 54/58 | €172,966 | €121,313 | -€51,653 | -29.9% |
| Total equity and liabilities | 10/49 | €2,798,491 | €2,625,956 | -€172,535 | -6.2% |
| Equity | 10/15 | €1,433,878 | €1,546,657 | +€112,779 | +7.9% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Capital | 10 | €31,000 | €31,000 | = | 0.0% |
| Issued capital | 100 | €31,000 | €31,000 | = | 0.0% |
| Revaluation surpluses | 12 | €487,880 | €487,880 | = | 0.0% |
| Reserves | 13 | €914,998 | €1,027,777 | +€112,779 | +12.3% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Legal reserve | 130 | €3,099 | €3,099 | = | 0.0% |
| Tax-exempt reserves | 132 | €33,947 | €33,947 | = | 0.0% |
| Distributable reserves | 133 | €877,952 | €990,731 | +€112,779 | +12.8% |
| Provisions and deferred taxes | 16 | €25,000 | €25,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €25,000 | €25,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €25,000 | €25,000 | = | 0.0% |
| Amounts payable | 17/49 | €1,339,613 | €1,054,299 | -€285,314 | -21.3% |
| Amounts payable after more than one year | 17 | €628,752 | €524,910 | -€103,842 | -16.5% |
| Financial debts | 170/4 | €628,752 | €524,910 | -€103,842 | -16.5% |
| Amounts payable within one year | 42/48 | €710,861 | €497,145 | -€213,716 | -30.1% |
| Current portion of amounts payable after more than one year | 42 | €103,690 | €103,842 | +€152 | +0.1% |
| Trade debts | 44 | €83,009 | €115,356 | +€32,347 | +39.0% |
| Suppliers | 440/4 | €83,009 | €115,356 | +€32,347 | +39.0% |
| Taxes, remuneration and social security | 45 | €96,027 | €113,662 | +€17,635 | +18.4% |
| Taxes | 450/3 | €8,900 | €30,000 | +€21,100 | +237% |
| Remuneration and social security | 454/9 | €87,127 | €83,662 | -€3,465 | -4.0% |
| Other amounts payable | 47/48 | €428,135 | €164,285 | -€263,850 | -61.6% |
| Accrued charges and deferred income | 492/3 | - | €32,244 | +€32,244 | |
| Remuneration, social security and pensions | 62 | €990,915 | €787,772 | -€203,143 | -20.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €75,166 | €58,616 | -€16,550 | -22.0% |
| Other operating charges | 640/8 | €105,055 | €65,063 | -€39,992 | -38.1% |
| Gross operating margin | 9900 | €1,410,484 | €1,303,839 | -€106,645 | -7.6% |
| Operating profit (loss) | 9901 | €239,348 | €392,388 | +€153,040 | +63.9% |
| Financial income | 75/76B | €18,215 | €18,376 | +€161 | +0.9% |
| Recurring financial income | 75 | €18,215 | €18,376 | +€161 | +0.9% |
| Financial charges | 65/66B | €22,957 | €22,487 | -€470 | -2.0% |
| Recurring financial charges | 65 | €22,957 | €22,487 | -€470 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | €234,606 | €388,277 | +€153,671 | +65.5% |
| Income taxes | 67/77 | €12,925 | €45,498 | +€32,573 | +252% |
| Profit (loss) for the period | 9904 | €221,681 | €342,779 | +€121,098 | +54.6% |
| Profit (loss) for the period to be appropriated | 9905 | €221,681 | €342,779 | +€121,098 | +54.6% |
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 18 October 2026 via checked.be.