DUX: 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.
DUX
Largest movements
- Receivables within one year +€108,968
up €108,968 (+50.7%), from €214,790 to €323,758
of which Trade receivables: +€76,354
- Cash +€17,935
up €17,935 (+31.3%), from €57,229 to €75,164
mainly Net result for the year (+€225,619) and Tax, wage and social debts (+€55,151)
- Tangible fixed assets -€13,906
down €13,906 (-9.7%), from €142,746 to €128,840
of which Land and buildings: -€13,307
- Profit (loss) carried forward +€225,619
up €225,619 (+206.4%), from €109,297 to €334,916
- Reserves -€150,959
down €150,959 (-65.4%), from €230,896 to €79,937
- Tax, wage and social debts +€55,151
up €55,151 (+166.9%), from €33,040 to €88,191
- Other debts -€29,909
no longer reported in 2025 (was €29,909)
- Trade debts +€26,838
up €26,838 (+83.4%), from €32,164 to €59,002
- Gross operating margin +€165,721
up €165,721 (+97.6%), from €169,776 to €335,497
- Taxes +€55,735
up €55,735 (+145.1%), from €38,408 to €94,143
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 | €506,255 | €617,784 | +€111,529 | +22.0% |
| Fixed assets | 21/28 | €142,746 | €128,840 | -€13,906 | -9.7% |
| Tangible fixed assets | 22/27 | €142,746 | €128,840 | -€13,906 | -9.7% |
| Land and buildings | 22 | €142,146 | €128,840 | -€13,307 | -9.4% |
| Plant, machinery and equipment | 23 | €600 | - | -€600 | |
| Current assets | 29/58 | €363,509 | €488,944 | +€125,435 | +34.5% |
| Amounts receivable after more than one year | 29 | €90,000 | €90,000 | = | 0.0% |
| Other amounts receivable | 291 | €90,000 | €90,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €214,790 | €323,758 | +€108,968 | +50.7% |
| Trade receivables | 40 | €214,214 | €290,568 | +€76,354 | +35.6% |
| Other amounts receivable | 41 | €576 | €33,189 | +€32,613 | +5663.0% |
| Cash at bank and in hand | 54/58 | €57,229 | €75,164 | +€17,935 | +31.3% |
| Deferred charges and accrued income | 490/1 | €1,490 | €22 | -€1,468 | -98.5% |
| Total equity and liabilities | 10/49 | €506,255 | €617,784 | +€111,529 | +22.0% |
| Equity | 10/15 | €358,793 | €433,453 | +€74,660 | +20.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €230,896 | €79,937 | -€150,959 | -65.4% |
| Distributable reserves | 133 | €230,896 | €79,937 | -€150,959 | -65.4% |
| Profit (loss) carried forward | 14 | €109,297 | €334,916 | +€225,619 | +206.4% |
| Amounts payable | 17/49 | €147,462 | €184,330 | +€36,869 | +25.0% |
| Amounts payable after more than one year | 17 | €22,505 | €3,289 | -€19,216 | -85.4% |
| Financial debts | 170/4 | €22,505 | €3,289 | -€19,216 | -85.4% |
| Amounts payable within one year | 42/48 | €113,470 | €166,409 | +€52,939 | +46.7% |
| Current portion of amounts payable after more than one year | 42 | €18,357 | €19,216 | +€859 | +4.7% |
| Trade debts | 44 | €32,164 | €59,002 | +€26,838 | +83.4% |
| Suppliers | 440/4 | €32,164 | €59,002 | +€26,838 | +83.4% |
| Taxes, remuneration and social security | 45 | €33,040 | €88,191 | +€55,151 | +166.9% |
| Taxes | 450/3 | €33,040 | €88,191 | +€55,151 | +166.9% |
| Other amounts payable | 47/48 | €29,909 | - | -€29,909 | |
| Accrued charges and deferred income | 492/3 | €11,487 | €14,633 | +€3,146 | +27.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,025 | €13,906 | -€119 | -0.8% |
| Other operating charges | 640/8 | €4,001 | €2,678 | -€1,323 | -33.1% |
| Gross operating margin | 9900 | €169,776 | €335,497 | +€165,721 | +97.6% |
| Operating profit (loss) | 9901 | €151,749 | €318,913 | +€167,163 | +110.2% |
| Financial income | 75/76B | €2,322 | €4,042 | +€1,720 | +74.1% |
| Recurring financial income | 75 | €2,322 | €4,042 | +€1,720 | +74.1% |
| Financial charges | 65/66B | €6,366 | €3,193 | -€3,173 | -49.8% |
| Recurring financial charges | 65 | €6,366 | €3,193 | -€3,173 | -49.8% |
| Profit (loss) for the period before taxes | 9903 | €147,705 | €319,762 | +€172,057 | +116.5% |
| Income taxes | 67/77 | €38,408 | €94,143 | +€55,735 | +145.1% |
| Profit (loss) for the period | 9904 | €109,297 | €225,619 | +€116,322 | +106.4% |
| Profit (loss) for the period to be appropriated | 9905 | €109,297 | €225,619 | +€116,322 | +106.4% |
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 12 October 2026 via checked.be.