Ducens: 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.
Ducens
Largest movements
- Current investments +€250,000
up €250,000 (+62.5%), from €400,000 to €650,000
- Cash -€202,311
down €202,311 (-89.3%), from €226,567 to €24,256
mainly Current investments (-€250,000) and Tax, wage and social debts (-€89,455)
- Receivables after one year -€55,262
down €55,262 (-64.8%), from €85,262 to €30,000
- Reserves +€101,206
up €101,206 (+10.6%), from €952,593 to €1.1m
of which Distributable reserves: +€101,206
- Tax, wage and social debts -€89,455
down €89,455 (-85.5%), from €104,676 to €15,221
- Debts after one year -€30,000
down €30,000 (-27.5%), from €109,167 to €79,167
- Short-term financial debts +€12,649
up €12,649 (+863.5%), from €1,465 to €14,114
- Gross operating margin -€95,337
down €95,337 (-31.3%), from €304,835 to €209,498
- Taxes -€33,703
down €33,703 (-38.1%), from €88,504 to €54,801
- Financial income -€4,692
down €4,692 (-44.4%), from €10,580 to €5,888
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 | €1,245,746 | €1,238,238 | -€7,508 | -0.6% |
| Fixed assets | 21/28 | €491,210 | €498,435 | +€7,225 | +1.5% |
| Tangible fixed assets | 22/27 | €491,210 | €498,435 | +€7,225 | +1.5% |
| Land and buildings | 22 | €475,990 | €459,330 | -€16,661 | -3.5% |
| Plant, machinery and equipment | 23 | €8,463 | €5,739 | -€2,724 | -32.2% |
| Furniture and vehicles | 24 | €6,757 | €33,366 | +€26,610 | +393.8% |
| Current assets | 29/58 | €754,536 | €739,803 | -€14,733 | -2.0% |
| Amounts receivable after more than one year | 29 | €85,262 | €30,000 | -€55,262 | -64.8% |
| Other amounts receivable | 291 | €85,262 | €30,000 | -€55,262 | -64.8% |
| Amounts receivable within one year | 40/41 | €41,878 | €34,016 | -€7,862 | -18.8% |
| Trade receivables | 40 | €41,779 | €32,286 | -€9,493 | -22.7% |
| Other amounts receivable | 41 | €99 | €1,730 | +€1,631 | +1646.2% |
| Current investments | 50/53 | €400,000 | €650,000 | +€250,000 | +62.5% |
| Cash at bank and in hand | 54/58 | €226,567 | €24,256 | -€202,311 | -89.3% |
| Deferred charges and accrued income | 490/1 | €829 | €1,530 | +€702 | +84.7% |
| Total equity and liabilities | 10/49 | €1,245,746 | €1,238,238 | -€7,508 | -0.6% |
| Equity | 10/15 | €971,193 | €1,072,399 | +€101,206 | +10.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €952,593 | €1,053,799 | +€101,206 | +10.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €950,733 | €1,051,939 | +€101,206 | +10.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €274,553 | €165,839 | -€108,714 | -39.6% |
| Amounts payable after more than one year | 17 | €109,167 | €79,167 | -€30,000 | -27.5% |
| Financial debts | 170/4 | €109,167 | €79,167 | -€30,000 | -27.5% |
| Amounts payable within one year | 42/48 | €145,386 | €66,672 | -€78,714 | -54.1% |
| Current portion of amounts payable after more than one year | 42 | €30,000 | €30,000 | = | 0.0% |
| Financial debts | 43 | €1,465 | €14,114 | +€12,649 | +863.5% |
| Credit institutions | 430/8 | €1,465 | €14,114 | +€12,649 | +863.5% |
| Trade debts | 44 | €1,621 | €3,892 | +€2,271 | +140.2% |
| Suppliers | 440/4 | €1,621 | €3,892 | +€2,271 | +140.2% |
| Taxes, remuneration and social security | 45 | €104,676 | €15,221 | -€89,455 | -85.5% |
| Taxes | 450/3 | €104,676 | €15,221 | -€89,455 | -85.5% |
| Other amounts payable | 47/48 | €7,624 | €3,445 | -€4,179 | -54.8% |
| Accrued charges and deferred income | 492/3 | €20,000 | €20,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,700 | €47,052 | +€2,351 | +5.3% |
| Other operating charges | 640/8 | €4,696 | €5,288 | +€593 | +12.6% |
| Gross operating margin | 9900 | €304,835 | €209,498 | -€95,337 | -31.3% |
| Operating profit (loss) | 9901 | €255,439 | €157,158 | -€98,281 | -38.5% |
| Financial income | 75/76B | €10,580 | €5,888 | -€4,692 | -44.4% |
| Recurring financial income | 75 | €10,580 | €5,888 | -€4,692 | -44.4% |
| Financial charges | 65/66B | €9,890 | €7,038 | -€2,852 | -28.8% |
| Recurring financial charges | 65 | €9,890 | €7,038 | -€2,852 | -28.8% |
| Profit (loss) for the period before taxes | 9903 | €256,129 | €156,007 | -€100,122 | -39.1% |
| Income taxes | 67/77 | €88,504 | €54,801 | -€33,703 | -38.1% |
| Profit (loss) for the period | 9904 | €167,625 | €101,206 | -€66,419 | -39.6% |
| Profit (loss) for the period to be appropriated | 9905 | €167,625 | €101,206 | -€66,419 | -39.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.