DUWA: 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.
DUWA
Largest movements
- Tangible fixed assets -€11,302
down €11,302 (-36.2%), from €31,212 to €19,909
- Receivables within one year -€4,491
down €4,491 (-6.9%), from €64,622 to €60,131
of which Trade receivables: -€5,214
- Cash +€2,428
up €2,428 (+326%), from €744 to €3,172
mainly Depreciation (+€11,302) and Receivables within one year (+€4,491)
- Debts after one year -€7,642
down €7,642 (-34.0%), from €22,454 to €14,812
- Trade debts -€6,464
down €6,464 (-76.0%), from €8,509 to €2,046
- Other debts -€3,616
down €3,616 (-59.2%), from €6,104 to €2,488
- Reserves +€3,372
up €3,372 (+2.0%), from €167,799 to €171,171
- Depreciation +€8,607
up €8,607 (+319%), from €2,695 to €11,302
- Gross operating margin +€5,089
up €5,089 (+35.8%), from €14,225 to €19,315
- Financial charges +€891
up €891 (+162%), from €549 to €1,440
- Taxes -€528
down €528 (-15.6%), from €3,372 to €2,845
- Other operating charges -€410
down €410 (-53.5%), from €767 to €356
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 | €235,851 | €222,575 | -€13,276 | -5.6% |
| Fixed assets | 21/28 | €169,012 | €157,709 | -€11,302 | -6.7% |
| Tangible fixed assets | 22/27 | €31,212 | €19,909 | -€11,302 | -36.2% |
| Furniture and vehicles | 24 | €31,212 | €19,909 | -€11,302 | -36.2% |
| Financial fixed assets | 28 | €137,800 | €137,800 | = | 0.0% |
| Current assets | 29/58 | €66,840 | €64,866 | -€1,974 | -3.0% |
| Amounts receivable within one year | 40/41 | €64,622 | €60,131 | -€4,491 | -6.9% |
| Trade receivables | 40 | €11,585 | €6,371 | -€5,214 | -45.0% |
| Other amounts receivable | 41 | €53,036 | €53,759 | +€723 | +1.4% |
| Cash at bank and in hand | 54/58 | €744 | €3,172 | +€2,428 | +326% |
| Deferred charges and accrued income | 490/1 | €1,474 | €1,563 | +€89 | +6.0% |
| Total equity and liabilities | 10/49 | €235,851 | €222,575 | -€13,276 | -5.6% |
| Equity | 10/15 | €186,399 | €189,771 | +€3,372 | +1.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €167,799 | €171,171 | +€3,372 | +2.0% |
| Distributable reserves | 133 | €167,799 | €171,171 | +€3,372 | +2.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €49,452 | €32,804 | -€16,648 | -33.7% |
| Amounts payable after more than one year | 17 | €22,454 | €14,812 | -€7,642 | -34.0% |
| Financial debts | 170/4 | €22,454 | €14,812 | -€7,642 | -34.0% |
| Amounts payable within one year | 42/48 | €26,997 | €17,991 | -€9,006 | -33.4% |
| Current portion of amounts payable after more than one year | 42 | €7,349 | €7,642 | +€294 | +4.0% |
| Trade debts | 44 | €8,509 | €2,046 | -€6,464 | -76.0% |
| Suppliers | 440/4 | €8,509 | €2,046 | -€6,464 | -76.0% |
| Taxes, remuneration and social security | 45 | €5,036 | €5,816 | +€780 | +15.5% |
| Taxes | 450/3 | €5,013 | €5,816 | +€803 | +16.0% |
| Remuneration and social security | 454/9 | €23 | €0 | -€23 | -100% |
| Other amounts payable | 47/48 | €6,104 | €2,488 | -€3,616 | -59.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €2,715 | €0 | -€2,715 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,695 | €11,302 | +€8,607 | +319% |
| Other operating charges | 640/8 | €767 | €356 | -€410 | -53.5% |
| Gross operating margin | 9900 | €14,225 | €19,315 | +€5,089 | +35.8% |
| Operating profit (loss) | 9901 | €10,764 | €7,656 | -€3,108 | -28.9% |
| Financial income | 75/76B | €10 | €0 | -€10 | -95.6% |
| Recurring financial income | 75 | €10 | €0 | -€10 | -95.6% |
| Financial charges | 65/66B | €549 | €1,440 | +€891 | +162% |
| Recurring financial charges | 65 | €549 | €1,440 | +€891 | +162% |
| Profit (loss) for the period before taxes | 9903 | €10,225 | €6,217 | -€4,008 | -39.2% |
| Income taxes | 67/77 | €3,372 | €2,845 | -€528 | -15.6% |
| Profit (loss) for the period | 9904 | €6,853 | €3,372 | -€3,481 | -50.8% |
| Profit (loss) for the period to be appropriated | 9905 | €6,853 | €3,372 | -€3,481 | -50.8% |
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.