D.U.C.K.: 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.
D.U.C.K.
Largest movements
- Cash +€76,759
up €76,759 (+395%), from €19,456 to €96,215
mainly Net result for the year (+€47,392) and Depreciation (+€16,347)
- Receivables within one year -€9,429
down €9,429 (-46.8%), from €20,147 to €10,718
- Deferred charges and accrued income +€2,592
up €2,592 (+104%), from €2,486 to €5,078
- Tangible fixed assets +€1,768
up €1,768 (+2.9%), from €60,080 to €61,848
of which Furniture and vehicles: +€6,878
- Reserves +€47,392
up €47,392 (+184%), from €25,816 to €73,208
- Tax, wage and social debts +€14,960
up €14,960 (+181%), from €8,281 to €23,241
- Current portion of long-term debt +€4,443
up €4,443 (+133%), from €3,348 to €7,791
- Other debts +€2,681
up €2,681 (+7.0%), from €38,192 to €40,874
- Debts after one year +€1,898
up €1,898 (+9.9%), from €19,236 to €21,135
- Gross operating margin +€43,364
up €43,364 (+117%), from €37,204 to €80,568
- Depreciation +€12,912
up €12,912 (+376%), from €3,436 to €16,347
- Taxes +€5,108
up €5,108 (+76.6%), from €6,666 to €11,774
- Financial charges +€3,751
up €3,751 (+733%), from €512 to €4,263
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 | €102,169 | €173,858 | +€71,690 | +70.2% |
| Fixed assets | 21/28 | €60,080 | €61,848 | +€1,768 | +2.9% |
| Tangible fixed assets | 22/27 | €60,080 | €61,848 | +€1,768 | +2.9% |
| Plant, machinery and equipment | 23 | - | €2,377 | +€2,377 | |
| Furniture and vehicles | 24 | €22,944 | €29,822 | +€6,878 | +30.0% |
| Leasing and similar rights | 25 | €37,136 | €29,649 | -€7,486 | -20.2% |
| Current assets | 29/58 | €42,089 | €112,011 | +€69,922 | +166% |
| Amounts receivable within one year | 40/41 | €20,147 | €10,718 | -€9,429 | -46.8% |
| Trade receivables | 40 | €20,147 | €10,718 | -€9,429 | -46.8% |
| Cash at bank and in hand | 54/58 | €19,456 | €96,215 | +€76,759 | +395% |
| Deferred charges and accrued income | 490/1 | €2,486 | €5,078 | +€2,592 | +104% |
| Total equity and liabilities | 10/49 | €102,169 | €173,858 | +€71,690 | +70.2% |
| Equity | 10/15 | €29,816 | €77,208 | +€47,392 | +159% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €25,816 | €73,208 | +€47,392 | +184% |
| Distributable reserves | 133 | €25,816 | €73,208 | +€47,392 | +184% |
| Amounts payable | 17/49 | €72,353 | €96,651 | +€24,298 | +33.6% |
| Amounts payable after more than one year | 17 | €19,236 | €21,135 | +€1,898 | +9.9% |
| Financial debts | 170/4 | €19,236 | €21,135 | +€1,898 | +9.9% |
| Amounts payable within one year | 42/48 | €53,116 | €75,516 | +€22,400 | +42.2% |
| Current portion of amounts payable after more than one year | 42 | €3,348 | €7,791 | +€4,443 | +133% |
| Trade debts | 44 | €3,295 | €3,611 | +€316 | +9.6% |
| Suppliers | 440/4 | €3,295 | €3,611 | +€316 | +9.6% |
| Taxes, remuneration and social security | 45 | €8,281 | €23,241 | +€14,960 | +181% |
| Taxes | 450/3 | €8,281 | €23,241 | +€14,960 | +181% |
| Other amounts payable | 47/48 | €38,192 | €40,874 | +€2,681 | +7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,436 | €16,347 | +€12,912 | +376% |
| Other operating charges | 640/8 | €775 | €912 | +€137 | +17.7% |
| Gross operating margin | 9900 | €37,204 | €80,568 | +€43,364 | +117% |
| Operating profit (loss) | 9901 | €32,994 | €63,309 | +€30,315 | +91.9% |
| Financial income | 75/76B | €0 | €120 | +€120 | +1,204,600% |
| Recurring financial income | 75 | €0 | €120 | +€120 | +1,204,600% |
| Financial charges | 65/66B | €512 | €4,263 | +€3,751 | +733% |
| Recurring financial charges | 65 | €512 | €4,263 | +€3,751 | +733% |
| Profit (loss) for the period before taxes | 9903 | €32,482 | €59,166 | +€26,684 | +82.2% |
| Income taxes | 67/77 | €6,666 | €11,774 | +€5,108 | +76.6% |
| Profit (loss) for the period | 9904 | €25,816 | €47,392 | +€21,576 | +83.6% |
| Profit (loss) for the period to be appropriated | 9905 | €25,816 | €47,392 | +€21,576 | +83.6% |
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 19 October 2026 via checked.be.