DUCCAT: 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.
DUCCAT
Largest movements
- Cash +€21,689
up €21,689 (+40.6%), from €53,390 to €75,079
mainly Net result for the year (+€51,379) and Depreciation (+€20,165)
- Tangible fixed assets +€8,023
up €8,023 (+2.2%), from €362,326 to €370,349
of which Plant, machinery and equipment: +€23,245
- Reserves +€46,379
up €46,379 (+70.6%), from €65,647 to €112,026
- Debts after one year -€23,984
down €23,984 (-10.1%), from €236,959 to €212,975
- Current portion of long-term debt -€9,141
down €9,141 (-27.6%), from €33,126 to €23,984
- Tax, wage and social debts +€7,622
up €7,622 (+115.2%), from €6,616 to €14,238
of which Taxes: +€9,622
- Other debts +€4,480
up €4,480 (+46.2%), from €9,707 to €14,188
- Gross operating margin +€36,925
up €36,925 (+55.3%), from €66,731 to €103,656
- Taxes +€9,035
up €9,035 (+76.6%), from €11,799 to €20,834
- Financial charges +€3,534
up €3,534 (+53.0%), from €6,671 to €10,205
- Depreciation +€2,505
up €2,505 (+14.2%), from €17,661 to €20,165
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 | €419,267 | €445,428 | +€26,161 | +6.2% |
| Fixed assets | 21/28 | €362,326 | €370,349 | +€8,023 | +2.2% |
| Tangible fixed assets | 22/27 | €362,326 | €370,349 | +€8,023 | +2.2% |
| Land and buildings | 22 | €355,121 | €339,899 | -€15,222 | -4.3% |
| Plant, machinery and equipment | 23 | €7,206 | €30,450 | +€23,245 | +322.6% |
| Current assets | 29/58 | €56,941 | €75,079 | +€18,138 | +31.9% |
| Amounts receivable within one year | 40/41 | €3,551 | - | -€3,551 | |
| Trade receivables | 40 | €1,828 | - | -€1,828 | |
| Other amounts receivable | 41 | €1,723 | - | -€1,723 | |
| Cash at bank and in hand | 54/58 | €53,390 | €75,079 | +€21,689 | +40.6% |
| Total equity and liabilities | 10/49 | €419,267 | €445,428 | +€26,161 | +6.2% |
| Equity | 10/15 | €129,986 | €176,365 | +€46,379 | +35.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €65,647 | €112,026 | +€46,379 | +70.6% |
| Distributable reserves | 133 | €65,647 | €112,026 | +€46,379 | +70.6% |
| Profit (loss) carried forward | 14 | €45,739 | €45,739 | = | 0.0% |
| Amounts payable | 17/49 | €289,281 | €269,062 | -€20,218 | -7.0% |
| Amounts payable after more than one year | 17 | €236,959 | €212,975 | -€23,984 | -10.1% |
| Financial debts | 170/4 | €236,959 | €212,975 | -€23,984 | -10.1% |
| Amounts payable within one year | 42/48 | €50,675 | €56,088 | +€5,413 | +10.7% |
| Current portion of amounts payable after more than one year | 42 | €33,126 | €23,984 | -€9,141 | -27.6% |
| Trade debts | 44 | €1,225 | €3,677 | +€2,452 | +200.1% |
| Suppliers | 440/4 | €1,225 | €3,677 | +€2,452 | +200.1% |
| Taxes, remuneration and social security | 45 | €6,616 | €14,238 | +€7,622 | +115.2% |
| Taxes | 450/3 | €2,616 | €12,238 | +€9,622 | +367.7% |
| Remuneration and social security | 454/9 | €4,000 | €2,000 | -€2,000 | -50.0% |
| Other amounts payable | 47/48 | €9,707 | €14,188 | +€4,480 | +46.2% |
| Accrued charges and deferred income | 492/3 | €1,647 | - | -€1,647 | |
| Non-recurring operating income | 76A | €1,780 | - | -€1,780 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,661 | €20,165 | +€2,505 | +14.2% |
| Other operating charges | 640/8 | €1,705 | €1,252 | -€453 | -26.6% |
| Gross operating margin | 9900 | €66,731 | €103,656 | +€36,925 | +55.3% |
| Operating profit (loss) | 9901 | €47,365 | €82,239 | +€34,874 | +73.6% |
| Financial income | 75/76B | €33 | €179 | +€147 | +451.2% |
| Recurring financial income | 75 | €33 | €179 | +€147 | +451.2% |
| Financial charges | 65/66B | €6,671 | €10,205 | +€3,534 | +53.0% |
| Recurring financial charges | 65 | €6,671 | €10,205 | +€3,534 | +53.0% |
| Profit (loss) for the period before taxes | 9903 | €40,726 | €72,213 | +€31,487 | +77.3% |
| Income taxes | 67/77 | €11,799 | €20,834 | +€9,035 | +76.6% |
| Profit (loss) for the period | 9904 | €28,927 | €51,379 | +€22,452 | +77.6% |
| Profit (loss) for the period to be appropriated | 9905 | €28,927 | €51,379 | +€22,452 | +77.6% |
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 1 October 2026 via checked.be.