The Dune: 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.
The Dune
Largest movements
- Cash -€42,106
down €42,106 (-95.2%), from €44,251 to €2,145
mainly Other debts (-€75,000) and Tax, wage and social debts (-€2,321)
- Tangible fixed assets -€21,335
down €21,335 (-5.3%), from €403,993 to €382,658
of which Land and buildings: -€19,563
- Other debts -€75,000
down €75,000 (-22.2%), from €337,161 to €262,161
- Reserves +€14,212
up €14,212 (+166%), from €8,579 to €22,791
- Financial income -€2,988
no longer reported in 2025 (was €2,988)
- Gross operating margin +€2,401
up €2,401 (+5.8%), from €41,302 to €43,703
- Taxes +€1,520
up €1,520 (+47.2%), from €3,217 to €4,737
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 | €448,244 | €385,066 | -€63,178 | -14.1% |
| Fixed assets | 21/28 | €403,993 | €382,658 | -€21,335 | -5.3% |
| Tangible fixed assets | 22/27 | €403,993 | €382,658 | -€21,335 | -5.3% |
| Land and buildings | 22 | €399,602 | €380,039 | -€19,563 | -4.9% |
| Plant, machinery and equipment | 23 | €2,043 | €988 | -€1,055 | -51.6% |
| Furniture and vehicles | 24 | €2,348 | €1,630 | -€717 | -30.6% |
| Current assets | 29/58 | €44,251 | €2,408 | -€41,843 | -94.6% |
| Amounts receivable within one year | 40/41 | - | €263 | +€263 | |
| Other amounts receivable | 41 | - | €263 | +€263 | |
| Cash at bank and in hand | 54/58 | €44,251 | €2,145 | -€42,106 | -95.2% |
| Total equity and liabilities | 10/49 | €448,244 | €385,066 | -€63,178 | -14.1% |
| Equity | 10/15 | €108,579 | €122,791 | +€14,212 | +13.1% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €8,579 | €22,791 | +€14,212 | +166% |
| Distributable reserves | 133 | €8,579 | €22,791 | +€14,212 | +166% |
| Amounts payable | 17/49 | €339,665 | €262,275 | -€77,390 | -22.8% |
| Amounts payable within one year | 42/48 | €339,665 | €262,275 | -€77,390 | -22.8% |
| Trade debts | 44 | €183 | €114 | -€69 | -37.7% |
| Suppliers | 440/4 | €183 | €114 | -€69 | -37.7% |
| Taxes, remuneration and social security | 45 | €2,321 | - | -€2,321 | |
| Taxes | 450/3 | €2,321 | - | -€2,321 | |
| Other amounts payable | 47/48 | €337,161 | €262,161 | -€75,000 | -22.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,335 | €21,335 | = | 0.0% |
| Other operating charges | 640/8 | €2,877 | €3,232 | +€355 | +12.3% |
| Gross operating margin | 9900 | €41,302 | €43,703 | +€2,401 | +5.8% |
| Operating profit (loss) | 9901 | €17,091 | €19,136 | +€2,046 | +12.0% |
| Financial income | 75/76B | €2,988 | - | -€2,988 | |
| Recurring financial income | 75 | €2,988 | - | -€2,988 | |
| Financial charges | 65/66B | €153 | €187 | +€34 | +22.1% |
| Recurring financial charges | 65 | €153 | €187 | +€34 | +22.1% |
| Profit (loss) for the period before taxes | 9903 | €19,925 | €18,949 | -€976 | -4.9% |
| Income taxes | 67/77 | €3,217 | €4,737 | +€1,520 | +47.2% |
| Profit (loss) for the period | 9904 | €16,708 | €14,212 | -€2,496 | -14.9% |
| Profit (loss) for the period to be appropriated | 9905 | €16,708 | €14,212 | -€2,496 | -14.9% |
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 24 October 2026 via checked.be.