DUCK MANAGEMENT: 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.
DUCK MANAGEMENT
Largest movements
- Receivables within one year -€23,712
down €23,712 (-53.7%), from €44,166 to €20,454
of which Trade receivables: -€21,031
- Cash +€20,532
up €20,532 (+113%), from €18,195 to €38,727
mainly Other debts (+€38,718) and Receivables within one year (+€23,712)
- Tangible fixed assets +€2,956
up €2,956 (+66.4%), from €4,454 to €7,409
of which Furniture and vehicles: +€2,782
- Other debts +€38,718
up €38,718 (+91,532%), from €42 to €38,761
- Profit (loss) carried forward -€38,671
down €38,671 (-72.4%), from €53,421 to €14,750
- Tax, wage and social debts -€805
down €805 (-8.0%), from €10,022 to €9,217
of which Remuneration and social security: -€3,159
- Gross operating margin -€2,764
down €2,764 (-13.0%), from €21,340 to €18,576
- Depreciation +€788
up €788 (+47.5%), from €1,661 to €2,449
- Taxes -€708
down €708 (-15.0%), from €4,711 to €4,003
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 | €67,990 | €67,779 | -€211 | -0.3% |
| Fixed assets | 21/28 | €4,454 | €7,409 | +€2,956 | +66.4% |
| Tangible fixed assets | 22/27 | €4,454 | €7,409 | +€2,956 | +66.4% |
| Plant, machinery and equipment | 23 | €216 | €389 | +€173 | +80.2% |
| Furniture and vehicles | 24 | €4,238 | €7,020 | +€2,782 | +65.7% |
| Current assets | 29/58 | €63,536 | €60,370 | -€3,166 | -5.0% |
| Amounts receivable within one year | 40/41 | €44,166 | €20,454 | -€23,712 | -53.7% |
| Trade receivables | 40 | €30,311 | €9,280 | -€21,031 | -69.4% |
| Other amounts receivable | 41 | €13,855 | €11,174 | -€2,682 | -19.4% |
| Cash at bank and in hand | 54/58 | €18,195 | €38,727 | +€20,532 | +113% |
| Deferred charges and accrued income | 490/1 | €1,175 | €1,189 | +€14 | +1.2% |
| Total equity and liabilities | 10/49 | €67,990 | €67,779 | -€211 | -0.3% |
| Equity | 10/15 | €57,421 | €18,750 | -€38,671 | -67.3% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €53,421 | €14,750 | -€38,671 | -72.4% |
| Amounts payable | 17/49 | €10,569 | €49,029 | +€38,461 | +364% |
| Amounts payable within one year | 42/48 | €10,568 | €49,005 | +€38,437 | +364% |
| Trade debts | 44 | €504 | €1,027 | +€523 | +104% |
| Suppliers | 440/4 | €504 | €1,027 | +€523 | +104% |
| Taxes, remuneration and social security | 45 | €10,022 | €9,217 | -€805 | -8.0% |
| Taxes | 450/3 | €6,863 | €9,217 | +€2,354 | +34.3% |
| Remuneration and social security | 454/9 | €3,159 | €0 | -€3,159 | -100% |
| Other amounts payable | 47/48 | €42 | €38,761 | +€38,718 | +91,532% |
| Accrued charges and deferred income | 492/3 | €0 | €24 | +€24 | +7,937% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,661 | €2,449 | +€788 | +47.5% |
| Other operating charges | 640/8 | €646 | €725 | +€79 | +12.2% |
| Gross operating margin | 9900 | €21,340 | €18,576 | -€2,764 | -13.0% |
| Operating profit (loss) | 9901 | €19,033 | €15,401 | -€3,632 | -19.1% |
| Financial income | 75/76B | €67 | €62 | -€5 | -7.2% |
| Recurring financial income | 75 | €67 | €62 | -€5 | -7.2% |
| Financial charges | 65/66B | €115 | €132 | +€17 | +14.4% |
| Recurring financial charges | 65 | €115 | €132 | +€17 | +14.4% |
| Profit (loss) for the period before taxes | 9903 | €18,985 | €15,332 | -€3,653 | -19.2% |
| Income taxes | 67/77 | €4,711 | €4,003 | -€708 | -15.0% |
| Profit (loss) for the period | 9904 | €14,274 | €11,329 | -€2,945 | -20.6% |
| Profit (loss) for the period to be appropriated | 9905 | €14,274 | €11,329 | -€2,945 | -20.6% |
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 21 October 2026 via checked.be.