DUCK SAILING: 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 SAILING
Largest movements
- Cash +€13,825
up €13,825 (+65.1%), from €21,222 to €35,046
mainly Depreciation (+€16,364) and Tax, wage and social debts (+€11,109)
- Stocks and contracts +€5,153
up €5,153 (+180%), from €2,857 to €8,010
- Tangible fixed assets -€4,701
down €4,701 (-12.4%), from €37,978 to €33,277
of which Furniture and vehicles: -€3,819
- Receivables within one year +€1,564
up €1,564 (+3.1%), from €49,886 to €51,450
of which Other amounts receivable: +€5,526
- Tax, wage and social debts +€11,109
up €11,109 (+101%), from €11,006 to €22,115
of which Taxes: +€6,887
- Reserves +€6,650
up €6,650 (+31.7%), from €21,002 to €27,652
of which Distributable reserves: +€6,650
- Gross operating margin +€24,855
up €24,855 (+26.8%), from €92,719 to €117,574
- Staff costs +€21,796
up €21,796 (+36.0%), from €60,509 to €82,305
- Depreciation +€3,757
up €3,757 (+29.8%), from €12,607 to €16,364
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 | €115,039 | €131,506 | +€16,466 | +14.3% |
| Fixed assets | 21/28 | €37,978 | €33,277 | -€4,701 | -12.4% |
| Tangible fixed assets | 22/27 | €37,978 | €33,277 | -€4,701 | -12.4% |
| Plant, machinery and equipment | 23 | €6,200 | €5,318 | -€883 | -14.2% |
| Furniture and vehicles | 24 | €31,778 | €27,959 | -€3,819 | -12.0% |
| Current assets | 29/58 | €77,062 | €98,229 | +€21,168 | +27.5% |
| Stocks and contracts in progress | 3 | €2,857 | €8,010 | +€5,153 | +180% |
| Stocks | 30/36 | €2,857 | €8,010 | +€5,153 | +180% |
| Amounts receivable within one year | 40/41 | €49,886 | €51,450 | +€1,564 | +3.1% |
| Trade receivables | 40 | €44,068 | €40,106 | -€3,962 | -9.0% |
| Other amounts receivable | 41 | €5,818 | €11,345 | +€5,526 | +95.0% |
| Cash at bank and in hand | 54/58 | €21,222 | €35,046 | +€13,825 | +65.1% |
| Deferred charges and accrued income | 490/1 | €3,097 | €3,722 | +€625 | +20.2% |
| Total equity and liabilities | 10/49 | €115,039 | €131,506 | +€16,466 | +14.3% |
| Equity | 10/15 | €93,147 | €99,799 | +€6,652 | +7.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €21,002 | €27,652 | +€6,650 | +31.7% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €19,002 | €25,652 | +€6,650 | +35.0% |
| Profit (loss) carried forward | 14 | €52,145 | €52,147 | +€2 | 0.0% |
| Amounts payable | 17/49 | €21,892 | €31,707 | +€9,815 | +44.8% |
| Amounts payable after more than one year | 17 | €2,213 | €2,608 | +€395 | +17.9% |
| Other amounts payable | 178/9 | €2,213 | €2,608 | +€395 | +17.9% |
| Amounts payable within one year | 42/48 | €19,680 | €29,099 | +€9,420 | +47.9% |
| Trade debts | 44 | €7,784 | €6,984 | -€800 | -10.3% |
| Suppliers | 440/4 | €4,270 | €6,840 | +€2,570 | +60.2% |
| Bills of exchange payable | 441 | €3,513 | €144 | -€3,369 | -95.9% |
| Taxes, remuneration and social security | 45 | €11,006 | €22,115 | +€11,109 | +101% |
| Taxes | 450/3 | €5,151 | €12,038 | +€6,887 | +134% |
| Remuneration and social security | 454/9 | €5,855 | €10,077 | +€4,222 | +72.1% |
| Other amounts payable | 47/48 | €890 | - | -€890 | |
| Remuneration, social security and pensions | 62 | €60,509 | €82,305 | +€21,796 | +36.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,607 | €16,364 | +€3,757 | +29.8% |
| Other operating charges | 640/8 | €3,110 | €2,411 | -€700 | -22.5% |
| Gross operating margin | 9900 | €92,719 | €117,574 | +€24,855 | +26.8% |
| Operating profit (loss) | 9901 | €16,493 | €16,494 | +€2 | 0.0% |
| Financial income | 75/76B | €30 | €86 | +€56 | +189% |
| Recurring financial income | 75 | €30 | €86 | +€56 | +189% |
| Financial charges | 65/66B | €3,162 | €4,016 | +€855 | +27.0% |
| Recurring financial charges | 65 | €3,162 | €4,016 | +€855 | +27.0% |
| Profit (loss) for the period before taxes | 9903 | €13,361 | €12,564 | -€796 | -6.0% |
| Income taxes | 67/77 | €6,159 | €5,913 | -€246 | -4.0% |
| Profit (loss) for the period | 9904 | €7,202 | €6,652 | -€551 | -7.6% |
| Profit (loss) for the period to be appropriated | 9905 | €7,202 | €6,652 | -€551 | -7.6% |
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 23 October 2026 via checked.be.