DUCAD
Annual accounts 2025
micro format, filed on 13-07-2026, 18 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €410,000. Estimated: probably between €300,000 and €680,000.
Balance sheet
balance sheet total €123,870 on 31-12-2025in euro
in euro
Position in the sector
45.9%
Higher than 53% of 9,462 companies in 2025.
0.88
Higher than 17% of 9,210 companies in 2025.
31.6%
Higher than 86% of 9,282 companies in 2025.
Net result: top quarter · Equity: middle half · Balance sheet total: middle half · Working capital: bottom quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Balance sheet: assets | |||||
20/58 |
123,870 | 127,779 | 54,041 | 73,484 | |
21/28 |
65,217 | 32,052 | 7,868 | 13,054 | |
22/27 |
65,217 | 32,052 | 7,868 | 13,054 | |
23 |
9,418 | 13,975 | 3,922 | 7,728 | |
24 |
55,800 | 18,078 | 3,946 | 5,327 | |
29/58 |
58,653 | 95,726 | 46,173 | 60,430 | |
40/41 |
54,611 | 90,225 | 43,132 | 52,817 | |
40 |
39,751 | 42,473 | 9,818 | 6,762 | |
41 |
14,860 | 47,752 | 33,314 | 46,055 | |
54/58 |
3,002 | 5,501 | 3,041 | 7,613 | |
490/1 |
1,040 | - | - | - | |
| Balance sheet: equity and liabilities | |||||
10/49 |
123,870 | 127,779 | 54,041 | 73,484 | |
10/15 |
56,851 | 46,267 | 33,997 | 17,955 | |
10/11 |
5,000 | 5,000 | - | - | |
14 |
51,851 | 41,267 | 33,997 | 17,955 | |
17/49 |
67,019 | 81,512 | 20,044 | 55,529 | |
42/48 |
67,019 | 81,512 | 20,044 | 55,529 | |
43 |
- | 4,838 | - | 4,973 | |
430/8 |
- | 4,838 | - | 4,973 | |
44 |
30,607 | 55,379 | 3,484 | 45,842 | |
440/4 |
30,607 | 55,379 | 3,484 | 45,842 | |
45 |
36,412 | 21,295 | 16,560 | 4,715 | |
450/3 |
34,212 | 21,295 | 9,727 | 4,715 | |
454/9 |
2,200 | - | 6,833 | - | |
| Income statement | |||||
9900 |
78,662 | 52,041 | 28,125 | 28,310 | |
630 |
16,257 | 9,072 | 5,708 | 4,472 | |
640/8 |
8,698 | 1,280 | 724 | 695 | |
9901 |
53,707 | 41,689 | 21,694 | 23,142 | |
75/76B |
8 | 27 | 18 | 10 | |
75 |
8 | 27 | 18 | 10 | |
65/66B |
547 | 653 | 658 | 483 | |
65 |
547 | 653 | 658 | 483 | |
9903 |
53,167 | 41,063 | 21,055 | 22,669 | |
67/77 |
14,012 | 9,793 | 5,013 | 4,715 | |
9904 |
39,155 | 31,270 | 16,042 | 17,955 | |
9905 |
39,155 | 31,270 | 16,042 | 17,955 | |
| Appropriation of the result | |||||
9906 |
80,422 | 65,267 | 33,997 | 17,955 | |
14P |
41,267 | 33,997 | 17,955 | - | |
694/7 |
28,571 | 24,000 | - | - | |
694 |
28,571 | 24,000 | - | - | |
| Document | |||||
The notes to these accounts have 8 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 13-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankKey figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| 69,964 | 50,761 | 27,401 | 27,615 | ||
| 55,412 | 40,343 | 21,749 | 22,427 | ||
| 56,502 | 33,257 | 521 | 17,527 | ||
| -2,500 | 2,460 | -4,572 | - | ||
| -8,367 | 14,215 | 26,129 | 4,900 | ||
| 45.9% | 36.2% | 62.9% | 24.4% | ||
| 0.88 | 1.17 | 2.30 | 1.09 | ||
| 1.18 | 1.76 | 0.59 | 3.09 | ||
| 68.9% | 67.6% | 47.2% | 100.0% | ||
| 31.6% | 24.5% | 29.7% | 24.4% | ||
| over 100 | 77.72 | 41.67 | 57.18 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Overdue debts
tax and social security| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Overdue tax debts | €1,836 | €6,879 | - | - |
Source: notes to the 2022 to 2025 annual accounts (statement of debts)
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Tangible fixed assets | €56,502 | €33,257 | €521 | €17,527 |
| €16,257 | €9,072 | €5,708 | €4,472 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on DUCAD
The operating result for 2025 is 29% higher than in 2024 and the highest since 2022. It is the second rise in a row, after the fall in 2023.
Debt's share of the balance-sheet total falls from 63.8% to 54.1%. Equity is higher and debt is lower.