DUVINDIS: 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.
DUVINDIS
Largest movements
- Tangible fixed assets -€79,318
down €79,318 (-16.3%), from €487,962 to €408,644
- Stocks and contracts +€27,439
up €27,439 (+10.2%), from €268,270 to €295,709
- Receivables within one year +€27,056
up €27,056 (+77.7%), from €34,819 to €61,875
of which Other amounts receivable: +€25,186
- Trade debts -€66,240
down €66,240 (-19.8%), from €333,959 to €267,719
- Profit (loss) carried forward +€22,088
up €22,088 (+3.4%), from €656,408 to €678,496
- Financial income +€149,851
up €149,851 (+23731.7%), from €631 to €150,483
- Staff costs +€11,331
up €11,331 (+3.5%), from €321,300 to €332,630
- Gross operating margin +€10,753
up €10,753 (+1.8%), from €602,851 to €613,604
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 | €2,144,296 | €2,099,330 | -€44,966 | -2.1% |
| Fixed assets | 21/28 | €1,502,364 | €1,423,047 | -€79,318 | -5.3% |
| Tangible fixed assets | 22/27 | €487,962 | €408,644 | -€79,318 | -16.3% |
| Land and buildings | 22 | €346,243 | €310,114 | -€36,130 | -10.4% |
| Plant, machinery and equipment | 23 | €40,753 | €28,826 | -€11,928 | -29.3% |
| Furniture and vehicles | 24 | €2,408 | - | -€2,408 | |
| Other tangible fixed assets | 26 | €98,557 | €69,705 | -€28,852 | -29.3% |
| Financial fixed assets | 28 | €1,014,403 | €1,014,403 | = | 0.0% |
| Current assets | 29/58 | €641,931 | €676,283 | +€34,352 | +5.4% |
| Stocks and contracts in progress | 3 | €268,270 | €295,709 | +€27,439 | +10.2% |
| Stocks | 30/36 | €268,270 | €295,709 | +€27,439 | +10.2% |
| Amounts receivable within one year | 40/41 | €34,819 | €61,875 | +€27,056 | +77.7% |
| Trade receivables | 40 | €11,029 | €12,899 | +€1,870 | +17.0% |
| Other amounts receivable | 41 | €23,790 | €48,976 | +€25,186 | +105.9% |
| Cash at bank and in hand | 54/58 | €326,705 | €305,900 | -€20,805 | -6.4% |
| Deferred charges and accrued income | 490/1 | €12,138 | €12,799 | +€662 | +5.5% |
| Total equity and liabilities | 10/49 | €2,144,296 | €2,099,330 | -€44,966 | -2.1% |
| Equity | 10/15 | €1,496,408 | €1,518,496 | +€22,088 | +1.5% |
| Contributions | 10/11 | €41,250 | €41,250 | = | 0.0% |
| Reserves | 13 | €798,750 | €798,750 | = | 0.0% |
| Tax-exempt reserves | 132 | €168,750 | €168,750 | = | 0.0% |
| Distributable reserves | 133 | €630,000 | €630,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €656,408 | €678,496 | +€22,088 | +3.4% |
| Amounts payable | 17/49 | €647,888 | €580,834 | -€67,054 | -10.3% |
| Amounts payable within one year | 42/48 | €646,107 | €579,267 | -€66,839 | -10.3% |
| Trade debts | 44 | €333,959 | €267,719 | -€66,240 | -19.8% |
| Suppliers | 440/4 | €333,959 | €267,719 | -€66,240 | -19.8% |
| Taxes, remuneration and social security | 45 | €54,335 | €53,736 | -€599 | -1.1% |
| Taxes | 450/3 | €16,759 | €15,272 | -€1,486 | -8.9% |
| Remuneration and social security | 454/9 | €37,576 | €38,463 | +€887 | +2.4% |
| Other amounts payable | 47/48 | €257,813 | €257,813 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,781 | €1,567 | -€214 | -12.0% |
| Remuneration, social security and pensions | 62 | €321,300 | €332,630 | +€11,331 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,106 | €83,000 | +€2,893 | +3.6% |
| Other operating charges | 640/8 | €10,660 | €10,948 | +€288 | +2.7% |
| Gross operating margin | 9900 | €602,851 | €613,604 | +€10,753 | +1.8% |
| Operating profit (loss) | 9901 | €190,784 | €187,026 | -€3,758 | -2.0% |
| Financial income | 75/76B | €631 | €150,483 | +€149,851 | +23731.7% |
| Recurring financial income | 75 | €631 | €150,483 | +€149,851 | +23731.7% |
| Financial charges | 65/66B | €7,176 | €7,794 | +€618 | +8.6% |
| Recurring financial charges | 65 | €7,176 | €7,794 | +€618 | +8.6% |
| Profit (loss) for the period before taxes | 9903 | €184,240 | €329,715 | +€145,475 | +79.0% |
| Income taxes | 67/77 | €49,295 | €49,814 | +€519 | +1.1% |
| Profit (loss) for the period | 9904 | €134,945 | €279,900 | +€144,956 | +107.4% |
| Profit (loss) for the period to be appropriated | 9905 | €134,945 | €279,900 | +€144,956 | +107.4% |
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 30 September 2026 via checked.be.