DUCHESSE: 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.
DUCHESSE
Largest movements
- Tangible fixed assets +€27,283
up €27,283 (+1.7%), from €1.6m to €1.6m
of which Furniture and vehicles: +€44,728
- Other debts +€64,225
up €64,225 (+37.5%), from €171,400 to €235,625
- Profit (loss) carried forward -€51,048
down €51,048 (-15.7%), from -€325,962 to -€377,010
- Debts after one year +€17,834
up €17,834 (+7.7%), from €232,166 to €250,000
- Gross operating margin +€66,961
up €66,961 (+254.3%), from €26,336 to €93,297
- Financial charges +€48,297
up €48,297 (+132.7%), from €36,396 to €84,693
- Depreciation +€15,675
up €15,675 (+36.6%), from €42,879 to €58,554
- Other operating charges -€2,441
down €2,441 (-69.0%), from €3,539 to €1,098
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 | €1,579,679 | €1,615,184 | +€35,505 | +2.2% |
| Fixed assets | 21/28 | €1,575,427 | €1,602,710 | +€27,283 | +1.7% |
| Tangible fixed assets | 22/27 | €1,575,427 | €1,602,710 | +€27,283 | +1.7% |
| Land and buildings | 22 | €1,575,427 | €1,557,982 | -€17,446 | -1.1% |
| Furniture and vehicles | 24 | - | €44,728 | +€44,728 | |
| Current assets | 29/58 | €4,251 | €12,474 | +€8,222 | +193.4% |
| Amounts receivable within one year | 40/41 | €1,359 | €6,422 | +€5,063 | +372.7% |
| Trade receivables | 40 | €1,359 | €6,422 | +€5,063 | +372.7% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,342 | €4,488 | +€3,146 | +234.4% |
| Deferred charges and accrued income | 490/1 | €1,551 | €1,564 | +€13 | +0.9% |
| Total equity and liabilities | 10/49 | €1,579,679 | €1,615,184 | +€35,505 | +2.2% |
| Equity | 10/15 | -€305,962 | -€357,010 | -€51,048 | -16.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€325,962 | -€377,010 | -€51,048 | -15.7% |
| Amounts payable | 17/49 | €1,885,640 | €1,972,194 | +€86,553 | +4.6% |
| Amounts payable after more than one year | 17 | €232,166 | €250,000 | +€17,834 | +7.7% |
| Other amounts payable | 178/9 | €232,166 | €250,000 | +€17,834 | +7.7% |
| Amounts payable within one year | 42/48 | €1,653,475 | €1,722,194 | +€68,719 | +4.2% |
| Financial debts | 43 | €1,450,000 | €1,450,000 | = | 0.0% |
| Credit institutions | 430/8 | €1,450,000 | €1,450,000 | = | 0.0% |
| Trade debts | 44 | €32,075 | €36,569 | +€4,494 | +14.0% |
| Suppliers | 440/4 | €32,075 | €36,569 | +€4,494 | +14.0% |
| Other amounts payable | 47/48 | €171,400 | €235,625 | +€64,225 | +37.5% |
| Non-recurring operating income | 76A | - | €7,265 | +€7,265 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,879 | €58,554 | +€15,675 | +36.6% |
| Other operating charges | 640/8 | €3,539 | €1,098 | -€2,441 | -69.0% |
| Gross operating margin | 9900 | €26,336 | €93,297 | +€66,961 | +254.3% |
| Operating profit (loss) | 9901 | -€20,083 | €33,644 | +€53,728 | |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €36,396 | €84,693 | +€48,297 | +132.7% |
| Recurring financial charges | 65 | €36,396 | €84,693 | +€48,297 | +132.7% |
| Profit (loss) for the period before taxes | 9903 | -€56,479 | -€51,048 | +€5,431 | +9.6% |
| Profit (loss) for the period | 9904 | -€56,479 | -€51,048 | +€5,431 | +9.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€56,479 | -€51,048 | +€5,431 | +9.6% |
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 11 October 2026 via checked.be.