DUCARMOIS: 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.
DUCARMOIS
Largest movements
- Cash +€33,275
up €33,275 (+21.5%), from €154,720 to €187,994
mainly Net result for the year (+€45,077) and Depreciation (+€43,074)
- Tangible fixed assets +€27,595
up €27,595 (+23.8%), from €115,940 to €143,535
of which Furniture and vehicles: +€32,815
- Receivables within one year -€18,906
down €18,906 (-27.2%), from €69,425 to €50,519
of which Trade receivables: -€22,283
- Reserves +€25,000
up €25,000 (+22.3%), from €112,000 to €137,000
of which Distributable reserves: +€25,000
- Other debts +€19,705
up €19,705 (+26.0%), from €75,854 to €95,559
- Gross operating margin +€25,074
up €25,074 (+30.4%), from €82,578 to €107,651
- Depreciation +€8,678
up €8,678 (+25.2%), from €34,396 to €43,074
- Other operating charges -€6,516
down €6,516 (-83.7%), from €7,788 to €1,272
- Taxes +€5,566
up €5,566 (+62.4%), from €8,914 to €14,480
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 | €349,404 | €393,570 | +€44,165 | +12.6% |
| Fixed assets | 21/28 | €115,940 | €143,535 | +€27,595 | +23.8% |
| Tangible fixed assets | 22/27 | €115,940 | €143,535 | +€27,595 | +23.8% |
| Land and buildings | 22 | €2,728 | €1,818 | -€910 | -33.4% |
| Plant, machinery and equipment | 23 | €43,392 | €39,082 | -€4,310 | -9.9% |
| Furniture and vehicles | 24 | €69,821 | €102,636 | +€32,815 | +47.0% |
| Current assets | 29/58 | €233,464 | €250,035 | +€16,571 | +7.1% |
| Amounts receivable within one year | 40/41 | €69,425 | €50,519 | -€18,906 | -27.2% |
| Trade receivables | 40 | €69,425 | €47,142 | -€22,283 | -32.1% |
| Other amounts receivable | 41 | - | €3,377 | +€3,377 | |
| Cash at bank and in hand | 54/58 | €154,720 | €187,994 | +€33,275 | +21.5% |
| Deferred charges and accrued income | 490/1 | €9,319 | €11,521 | +€2,202 | +23.6% |
| Total equity and liabilities | 10/49 | €349,404 | €393,570 | +€44,165 | +12.6% |
| Equity | 10/15 | €245,106 | €272,182 | +€27,077 | +11.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €112,000 | €137,000 | +€25,000 | +22.3% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €110,000 | €135,000 | +€25,000 | +22.7% |
| Profit (loss) carried forward | 14 | €113,106 | €115,182 | +€2,077 | +1.8% |
| Amounts payable | 17/49 | €104,299 | €121,387 | +€17,089 | +16.4% |
| Amounts payable within one year | 42/48 | €104,299 | €118,959 | +€14,661 | +14.1% |
| Trade debts | 44 | €17,046 | €15,881 | -€1,164 | -6.8% |
| Suppliers | 440/4 | €17,046 | €15,881 | -€1,164 | -6.8% |
| Taxes, remuneration and social security | 45 | €11,399 | €7,519 | -€3,880 | -34.0% |
| Taxes | 450/3 | €11,399 | €7,519 | -€3,880 | -34.0% |
| Other amounts payable | 47/48 | €75,854 | €95,559 | +€19,705 | +26.0% |
| Accrued charges and deferred income | 492/3 | - | €2,428 | +€2,428 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,396 | €43,074 | +€8,678 | +25.2% |
| Other operating charges | 640/8 | €7,788 | €1,272 | -€6,516 | -83.7% |
| Gross operating margin | 9900 | €82,578 | €107,651 | +€25,074 | +30.4% |
| Operating profit (loss) | 9901 | €40,393 | €63,305 | +€22,912 | +56.7% |
| Financial income | 75/76B | €499 | €1,190 | +€691 | +138% |
| Recurring financial income | 75 | €499 | €1,190 | +€691 | +138% |
| Financial charges | 65/66B | €4,205 | €4,939 | +€734 | +17.4% |
| Recurring financial charges | 65 | €4,205 | €4,939 | +€734 | +17.4% |
| Profit (loss) for the period before taxes | 9903 | €36,688 | €59,557 | +€22,869 | +62.3% |
| Income taxes | 67/77 | €8,914 | €14,480 | +€5,566 | +62.4% |
| Profit (loss) for the period | 9904 | €27,773 | €45,077 | +€17,304 | +62.3% |
| Profit (loss) for the period to be appropriated | 9905 | €27,773 | €45,077 | +€17,304 | +62.3% |
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.