DUCARME MANAGEMENT: 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.
DUCARME MANAGEMENT
Largest movements
- Cash +€45,764
up €45,764 (+169.7%), from €26,971 to €72,735
mainly Debts after one year (+€20,120) and Depreciation (+€10,950)
- Tangible fixed assets -€10,950
down €10,950 (-20.8%), from €52,708 to €41,758
- Receivables within one year -€5,746
down €5,746 (-36.6%), from €15,691 to €9,945
of which Other amounts receivable: -€6,134
- Debts after one year +€20,120
up €20,120 (+33.5%), from €60,129 to €80,249
- Reserves +€8,000
up €8,000 (+50.0%), from €16,000 to €24,000
- Gross operating margin +€14,620
up €14,620 (+56.9%), from €25,711 to €40,331
- Financial charges +€11,830
up €11,830 (+27157.8%), from €44 to €11,873
- Depreciation +€8,910
up €8,910 (+436.8%), from €2,040 to €10,950
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 | €95,370 | €124,438 | +€29,068 | +30.5% |
| Fixed assets | 21/28 | €52,708 | €41,758 | -€10,950 | -20.8% |
| Tangible fixed assets | 22/27 | €52,708 | €41,758 | -€10,950 | -20.8% |
| Furniture and vehicles | 24 | €52,708 | €41,758 | -€10,950 | -20.8% |
| Current assets | 29/58 | €42,662 | €82,680 | +€40,017 | +93.8% |
| Amounts receivable within one year | 40/41 | €15,691 | €9,945 | -€5,746 | -36.6% |
| Trade receivables | 40 | €8,968 | €9,356 | +€388 | +4.3% |
| Other amounts receivable | 41 | €6,723 | €588 | -€6,134 | -91.2% |
| Cash at bank and in hand | 54/58 | €26,971 | €72,735 | +€45,764 | +169.7% |
| Total equity and liabilities | 10/49 | €95,370 | €124,438 | +€29,068 | +30.5% |
| Equity | 10/15 | €28,245 | €36,906 | +€8,661 | +30.7% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Reserves | 13 | €16,000 | €24,000 | +€8,000 | +50.0% |
| Distributable reserves | 133 | €16,000 | €24,000 | +€8,000 | +50.0% |
| Profit (loss) carried forward | 14 | €245 | €906 | +€661 | +269.5% |
| Amounts payable | 17/49 | €67,125 | €87,532 | +€20,407 | +30.4% |
| Amounts payable after more than one year | 17 | €60,129 | €80,249 | +€20,120 | +33.5% |
| Other amounts payable | 178/9 | €60,129 | €80,249 | +€20,120 | +33.5% |
| Amounts payable within one year | 42/48 | €6,996 | €7,282 | +€287 | +4.1% |
| Taxes, remuneration and social security | 45 | €6,996 | €7,282 | +€287 | +4.1% |
| Taxes | 450/3 | €6,996 | €7,282 | +€287 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,040 | €10,950 | +€8,910 | +436.8% |
| Other operating charges | 640/8 | €387 | €462 | +€75 | +19.4% |
| Non-recurring operating charges | 66A | - | €1,138 | +€1,138 | |
| Gross operating margin | 9900 | €25,711 | €40,331 | +€14,620 | +56.9% |
| Operating profit (loss) | 9901 | €23,284 | €27,781 | +€4,497 | +19.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Non-recurring financial income | 76B | - | €0 | +€0 | |
| Financial charges | 65/66B | €44 | €11,873 | +€11,830 | +27157.8% |
| Recurring financial charges | 65 | €44 | €11,873 | +€11,830 | +27157.8% |
| Profit (loss) for the period before taxes | 9903 | €23,241 | €15,908 | -€7,333 | -31.6% |
| Income taxes | 67/77 | €6,996 | €7,247 | +€252 | +3.6% |
| Profit (loss) for the period | 9904 | €16,245 | €8,661 | -€7,584 | -46.7% |
| Profit (loss) for the period to be appropriated | 9905 | €16,245 | €8,661 | -€7,584 | -46.7% |
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 5 October 2026 via checked.be.