DUCAET: 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.
DUCAET
Largest movements
- Cash -€8,806
down €8,806 (-80.9%), from €10,890 to €2,083
mainly Net result for the year (-€32,797) and Investment in fixed assets (net) (-€8,244)
- Tangible fixed assets +€3,512
up €3,512 (+5.7%), from €61,205 to €64,716
of which Land and buildings: +€2,183
- Receivables within one year -€1,243
down €1,243 (-59.3%), from €2,096 to €853
- Profit (loss) carried forward -€27,346
down €27,346 (-141.9%), from -€19,271 to -€46,617
- Debts after one year +€14,196
new in 2025: €14,196
- Other debts +€13,567
up €13,567 (+38.6%), from €35,188 to €48,756
- Reserves -€5,451
no longer reported in 2025 (was €5,451)
- Trade debts -€1,504
down €1,504 (-53.3%), from €2,822 to €1,318
- Gross operating margin -€12,819
down €12,819 (-100.3%), from -€12,775 to -€25,594
- Depreciation +€507
up €507 (+12.0%), from €4,226 to €4,732
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 | €74,190 | €67,653 | -€6,538 | -8.8% |
| Fixed assets | 21/28 | €61,205 | €64,716 | +€3,512 | +5.7% |
| Tangible fixed assets | 22/27 | €61,205 | €64,716 | +€3,512 | +5.7% |
| Land and buildings | 22 | €58,372 | €60,555 | +€2,183 | +3.7% |
| Plant, machinery and equipment | 23 | €2,832 | €4,162 | +€1,329 | +46.9% |
| Current assets | 29/58 | €12,986 | €2,936 | -€10,049 | -77.4% |
| Amounts receivable within one year | 40/41 | €2,096 | €853 | -€1,243 | -59.3% |
| Other amounts receivable | 41 | €2,096 | €853 | -€1,243 | -59.3% |
| Cash at bank and in hand | 54/58 | €10,890 | €2,083 | -€8,806 | -80.9% |
| Total equity and liabilities | 10/49 | €74,190 | €67,653 | -€6,538 | -8.8% |
| Equity | 10/15 | €36,181 | €3,383 | -€32,797 | -90.6% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €5,451 | - | -€5,451 | |
| Distributable reserves | 133 | €5,451 | - | -€5,451 | |
| Profit (loss) carried forward | 14 | -€19,271 | -€46,617 | -€27,346 | -141.9% |
| Amounts payable | 17/49 | €38,010 | €64,269 | +€26,260 | +69.1% |
| Amounts payable after more than one year | 17 | - | €14,196 | +€14,196 | |
| Other amounts payable | 178/9 | - | €14,196 | +€14,196 | |
| Amounts payable within one year | 42/48 | €38,010 | €50,074 | +€12,064 | +31.7% |
| Trade debts | 44 | €2,822 | €1,318 | -€1,504 | -53.3% |
| Suppliers | 440/4 | €2,822 | €1,318 | -€1,504 | -53.3% |
| Other amounts payable | 47/48 | €35,188 | €48,756 | +€13,567 | +38.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,226 | €4,732 | +€507 | +12.0% |
| Other operating charges | 640/8 | €2,215 | €2,207 | -€8 | -0.4% |
| Gross operating margin | 9900 | -€12,775 | -€25,594 | -€12,819 | -100.3% |
| Operating profit (loss) | 9901 | -€19,216 | -€32,533 | -€13,318 | -69.3% |
| Financial charges | 65/66B | €55 | €264 | +€209 | +379.6% |
| Recurring financial charges | 65 | €55 | €264 | +€209 | +379.6% |
| Profit (loss) for the period before taxes | 9903 | -€19,271 | -€32,797 | -€13,526 | -70.2% |
| Profit (loss) for the period | 9904 | -€19,271 | -€32,797 | -€13,526 | -70.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,271 | -€32,797 | -€13,526 | -70.2% |
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 8 October 2026 via checked.be.