DUWOLIM: 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.
What changed
DUWOLIM
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€19,398
2024 · €14,141+€5,257
Equity
€488,142
2024 · €468,744+€19,398
Cash
€202,150
2024 · €238,930-€36,780
Balance sheet total
€102.0m
2024 · €93.9m+€8.1m
Largest movements
Assets
- Receivables after one year +€10.2m
up €10.2m (+14.0%), from €73.2m to €83.4m
- Receivables within one year -€2.1m
down €2.1m (-10.5%), from €20.5m to €18.3m
of which Other amounts receivable: -€1.9m
Equity and liabilities
- Debts after one year +€10.5m
up €10.5m (+14.6%), from €71.8m to €82.3m
- Trade debts -€2.1m
down €2.1m (-16.0%), from €13.1m to €11.0m
Income statement
- Gross operating margin -€351,312
down €351,312 (-16.0%), from €2.2m to €1.8m
- Other operating charges -€343,247
down €343,247 (-16.1%), from €2.1m to €1.8m
- Write-downs -€26,951
down €26,951, from €10,757 to -€16,194
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.
Result 2024
€14,141
Gross operating margin
-€351,312
Write-downs
+€26,951
Provisions
-€10,925
Other operating charges
+€343,247
Financial income
+€40
Financial charges
+€2,683
Taxes
-€5,427
Result 2025
€19,398
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.
From operations
-€10.3m
Investment
€0
Financing
+€10.3m
Cash 2024
€238,930
From operations (derived)
-€10.3m
Net result for the year
+€19,398
Receivables after one year
-€10.2m
Receivables within one year
+€2.1m
Deferred charges and accrued income
-€85,990
Trade debts
-€2.1m
Tax, wage and social debts
+€5,490
Other debts
-€686,419
Accrued charges and deferred income
+€610,252
Financing
+€10.3m
Debts after one year
+€10.5m
Current portion of long-term debt
-€227,496
Cash 2025
€202,150
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €93,887,651 | €102,012,367 | +€8.1m | +8.7% |
| Current assets | 29/58 | €93,887,651 | €102,012,367 | +€8.1m | +8.7% |
| Amounts receivable after more than one year | 29 | €73,164,237 | €83,383,724 | +€10.2m | +14.0% |
| Trade receivables | 290 | €73,164,237 | €83,383,724 | +€10.2m | +14.0% |
| Amounts receivable within one year | 40/41 | €20,479,086 | €18,335,105 | -€2.1m | -10.5% |
| Trade receivables | 40 | €7,898,941 | €7,654,704 | -€244,236 | -3.1% |
| Other amounts receivable | 41 | €12,580,145 | €10,680,400 | -€1.9m | -15.1% |
| Cash at bank and in hand | 54/58 | €238,930 | €202,150 | -€36,780 | -15.4% |
| Deferred charges and accrued income | 490/1 | €5,398 | €91,388 | +€85,990 | +1593.0% |
| Total equity and liabilities | 10/49 | €93,887,651 | €102,012,367 | +€8.1m | +8.7% |
| Equity | 10/15 | €468,744 | €488,142 | +€19,398 | +4.1% |
| Contributions | 10/11 | €403,000 | €403,000 | = | 0.0% |
| Reserves | 13 | €65,744 | €85,142 | +€19,398 | +29.5% |
| Non-distributable reserves | 130/1 | €3,581 | €3,581 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,581 | €3,581 | = | 0.0% |
| Distributable reserves | 133 | €62,163 | €81,561 | +€19,398 | +31.2% |
| Provisions and deferred taxes | 16 | €22,064 | €22,064 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €22,064 | €22,064 | = | 0.0% |
| Other liabilities and charges | 164/5 | €22,064 | €22,064 | = | 0.0% |
| Amounts payable | 17/49 | €93,396,843 | €101,502,160 | +€8.1m | +8.7% |
| Amounts payable after more than one year | 17 | €71,766,942 | €82,259,996 | +€10.5m | +14.6% |
| Financial debts | 170/4 | €71,766,942 | €82,259,996 | +€10.5m | +14.6% |
| Amounts payable within one year | 42/48 | €21,560,113 | €18,562,125 | -€3.0m | -13.9% |
| Current portion of amounts payable after more than one year | 42 | €7,575,650 | €7,348,154 | -€227,496 | -3.0% |
| Trade debts | 44 | €13,091,844 | €11,002,282 | -€2.1m | -16.0% |
| Suppliers | 440/4 | €13,091,844 | €11,002,282 | -€2.1m | -16.0% |
| Taxes, remuneration and social security | 45 | €915 | €6,405 | +€5,490 | +600.0% |
| Taxes | 450/3 | €915 | €6,405 | +€5,490 | +600.0% |
| Other amounts payable | 47/48 | €891,704 | €205,285 | -€686,419 | -77.0% |
| Accrued charges and deferred income | 492/3 | €69,788 | €680,040 | +€610,252 | +874.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,757 | -€16,194 | -€26,951 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€10,925 | - | +€10,925 | |
| Other operating charges | 640/8 | €2,132,814 | €1,789,568 | -€343,247 | -16.1% |
| Gross operating margin | 9900 | €2,194,567 | €1,843,255 | -€351,312 | -16.0% |
| Operating profit (loss) | 9901 | €61,920 | €69,881 | +€7,960 | +12.9% |
| Financial income | 75/76B | €861 | €902 | +€40 | +4.7% |
| Recurring financial income | 75 | €861 | €902 | +€40 | +4.7% |
| Financial charges | 65/66B | €47,725 | €45,042 | -€2,683 | -5.6% |
| Recurring financial charges | 65 | €47,725 | €45,042 | -€2,683 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €15,056 | €25,740 | +€10,684 | +71.0% |
| Income taxes | 67/77 | €915 | €6,342 | +€5,427 | +593.1% |
| Profit (loss) for the period | 9904 | €14,141 | €19,398 | +€5,257 | +37.2% |
| Profit (loss) for the period to be appropriated | 9905 | €14,141 | €19,398 | +€5,257 | +37.2% |
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 6 October 2026 via checked.be.