DUCHESNE: 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.
DUCHESNE
Largest movements
- Tangible fixed assets -€26,140
down €26,140 (-8.9%), from €293,259 to €267,118
- Cash +€24,418
up €24,418 (+19.0%), from €128,700 to €153,118
mainly Depreciation (+€26,140) and Other debts (+€20,064)
- Receivables within one year -€7,240
down €7,240 (-60.0%), from €12,065 to €4,825
- Reserves -€21,086
down €21,086 (-25.3%), from €83,452 to €62,366
- Other debts +€20,064
up €20,064 (+67.0%), from €29,947 to €50,011
- Profit (loss) carried forward -€11,768
down €11,768 (-3.8%), from €307,225 to €295,457
- Gross operating margin +€4,565
up €4,565 (+24.1%), from €18,946 to €23,511
- Other operating charges +€3,895
up €3,895 (+113%), from €3,433 to €7,328
- Depreciation +€3,107
up €3,107 (+13.5%), from €23,033 to €26,140
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 | €440,529 | €431,639 | -€8,889 | -2.0% |
| Fixed assets | 21/28 | €293,859 | €267,718 | -€26,140 | -8.9% |
| Tangible fixed assets | 22/27 | €293,259 | €267,118 | -€26,140 | -8.9% |
| Land and buildings | 22 | €216,700 | €206,965 | -€9,735 | -4.5% |
| Plant, machinery and equipment | 23 | €27,048 | €22,274 | -€4,774 | -17.7% |
| Furniture and vehicles | 24 | €49,510 | €37,879 | -€11,631 | -23.5% |
| Financial fixed assets | 28 | €600 | €600 | = | 0.0% |
| Current assets | 29/58 | €146,670 | €163,921 | +€17,251 | +11.8% |
| Amounts receivable within one year | 40/41 | €12,065 | €4,825 | -€7,240 | -60.0% |
| Other amounts receivable | 41 | €12,065 | €4,825 | -€7,240 | -60.0% |
| Cash at bank and in hand | 54/58 | €128,700 | €153,118 | +€24,418 | +19.0% |
| Deferred charges and accrued income | 490/1 | €5,905 | €5,977 | +€73 | +1.2% |
| Total equity and liabilities | 10/49 | €440,529 | €431,639 | -€8,889 | -2.0% |
| Equity | 10/15 | €409,277 | €376,423 | -€32,853 | -8.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €83,452 | €62,366 | -€21,086 | -25.3% |
| Distributable reserves | 133 | €83,452 | €62,366 | -€21,086 | -25.3% |
| Profit (loss) carried forward | 14 | €307,225 | €295,457 | -€11,768 | -3.8% |
| Amounts payable | 17/49 | €31,252 | €55,216 | +€23,964 | +76.7% |
| Amounts payable within one year | 42/48 | €31,252 | €55,216 | +€23,964 | +76.7% |
| Trade debts | 44 | €940 | €4,856 | +€3,917 | +417% |
| Suppliers | 440/4 | €940 | €4,856 | +€3,917 | +417% |
| Taxes, remuneration and social security | 45 | €365 | €348 | -€17 | -4.6% |
| Taxes | 450/3 | €365 | €348 | -€17 | -4.6% |
| Other amounts payable | 47/48 | €29,947 | €50,011 | +€20,064 | +67.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,033 | €26,140 | +€3,107 | +13.5% |
| Other operating charges | 640/8 | €3,433 | €7,328 | +€3,895 | +113% |
| Gross operating margin | 9900 | €18,946 | €23,511 | +€4,565 | +24.1% |
| Operating profit (loss) | 9901 | -€7,521 | -€9,958 | -€2,437 | -32.4% |
| Financial income | 75/76B | €3 | €5 | +€2 | +44.5% |
| Recurring financial income | 75 | €3 | €5 | +€2 | +44.5% |
| Financial charges | 65/66B | €1,469 | €1,448 | -€21 | -1.4% |
| Recurring financial charges | 65 | €1,469 | €1,448 | -€21 | -1.4% |
| Profit (loss) for the period before taxes | 9903 | -€8,986 | -€11,400 | -€2,414 | -26.9% |
| Income taxes | 67/77 | €364 | €367 | +€3 | +0.7% |
| Profit (loss) for the period | 9904 | -€9,351 | -€11,768 | -€2,417 | -25.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,351 | -€11,768 | -€2,417 | -25.8% |
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 18 October 2026 via checked.be.