Duco Technology: 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.
Duco Technology
Largest movements
- Receivables within one year +€716,041
up €716,041 (+374.5%), from €191,187 to €907,227
of which Trade receivables: +€662,423
- Intangible fixed assets -€450,807
down €450,807 (-34.6%), from €1.3m to €852,324
- Other debts +€5.0m
new in 2025: €5.0m
- Current portion of long-term debt -€3.0m
down €3.0m (-100.0%), from €3.0m to €0
- Profit (loss) carried forward -€1.6m
down €1.6m (-45.3%), from -€3.6m to -€5.2m
- Debts after one year -€306,503
down €306,503 (-100.0%), from €306,503 to €0
of which Financial debts: -€306,503
- Contributions +€284,000
up €284,000 (+68.8%), from €412,549 to €696,549
- Gross operating margin +€2.5m
up €2.5m (+455.7%), from €552,788 to €3.1m
- Financial charges +€1.9m
up €1.9m (+1267.8%), from €147,067 to €2.0m
- Staff costs +€1.1m
up €1.1m (+94.6%), from €1.1m to €2.2m
- Depreciation +€186,080
up €186,080 (+46.4%), from €400,760 to €586,839
- Financial income +€64,078
up €64,078 (+122.6%), from €52,269 to €116,348
From the 2023 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
A cash bridge needs two consecutive fiscal years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,822,917 | €2,092,089 | +€269,172 | +14.8% |
| Fixed assets | 21/28 | €1,313,536 | €886,528 | -€427,007 | -32.5% |
| Intangible fixed assets | 21 | €1,303,132 | €852,324 | -€450,807 | -34.6% |
| Tangible fixed assets | 22/27 | €10,404 | €17,174 | +€6,770 | +65.1% |
| Furniture and vehicles | 24 | €10,404 | €17,174 | +€6,770 | +65.1% |
| Financial fixed assets | 28 | - | €17,030 | +€17,030 | |
| Current assets | 29/58 | €509,382 | €1,205,561 | +€696,179 | +136.7% |
| Amounts receivable within one year | 40/41 | €191,187 | €907,227 | +€716,041 | +374.5% |
| Trade receivables | 40 | €191,187 | €853,609 | +€662,423 | +346.5% |
| Other amounts receivable | 41 | €0 | €53,618 | +€53,618 | |
| Cash at bank and in hand | 54/58 | €288,907 | €282,241 | -€6,666 | -2.3% |
| Deferred charges and accrued income | 490/1 | €29,288 | €16,092 | -€13,196 | -45.1% |
| Total equity and liabilities | 10/49 | €1,822,917 | €2,092,089 | +€269,172 | +14.8% |
| Equity | 10/15 | -€2,882,683 | -€4,101,117 | -€1.2m | -42.3% |
| Contributions | 10/11 | €412,549 | €696,549 | +€284,000 | +68.8% |
| Reserves | 13 | €26,889 | €26,889 | = | 0.0% |
| Tax-exempt reserves | 132 | €27 | €27 | = | 0.0% |
| Distributable reserves | 133 | €26,862 | €26,862 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,574,810 | -€5,195,103 | -€1.6m | -45.3% |
| Investment grants | 15 | €252,690 | €370,548 | +€117,858 | +46.6% |
| Amounts payable | 17/49 | €4,705,600 | €6,193,206 | +€1.5m | +31.6% |
| Amounts payable after more than one year | 17 | €306,503 | €0 | -€306,503 | -100.0% |
| Financial debts | 170/4 | €306,503 | €0 | -€306,503 | -100.0% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €3,494,608 | €5,245,165 | +€1.8m | +50.1% |
| Current portion of amounts payable after more than one year | 42 | €3,014,116 | €0 | -€3.0m | -100.0% |
| Trade debts | 44 | €339,001 | €126,907 | -€212,093 | -62.6% |
| Suppliers | 440/4 | €339,001 | €126,907 | -€212,093 | -62.6% |
| Advances received on contracts in progress | 46 | - | €0 | +€0 | |
| Taxes, remuneration and social security | 45 | €141,492 | €126,227 | -€15,265 | -10.8% |
| Taxes | 450/3 | €39,756 | €2,598 | -€37,158 | -93.5% |
| Remuneration and social security | 454/9 | €101,736 | €123,628 | +€21,893 | +21.5% |
| Other amounts payable | 47/48 | - | €4,992,031 | +€5.0m | |
| Accrued charges and deferred income | 492/3 | €904,489 | €948,041 | +€43,553 | +4.8% |
| Remuneration, social security and pensions | 62 | €1,135,570 | €2,209,575 | +€1.1m | +94.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €400,760 | €586,839 | +€186,080 | +46.4% |
| Other operating charges | 640/8 | €2,652 | €668 | -€1,983 | -74.8% |
| Gross operating margin | 9900 | €552,788 | €3,071,964 | +€2.5m | +455.7% |
| Operating profit (loss) | 9901 | -€986,193 | €274,882 | +€1.3m | |
| Financial income | 75/76B | €52,269 | €116,348 | +€64,078 | +122.6% |
| Recurring financial income | 75 | €52,269 | €116,348 | +€64,078 | +122.6% |
| Financial charges | 65/66B | €147,067 | €2,011,522 | +€1.9m | +1267.8% |
| Recurring financial charges | 65 | €147,067 | €2,011,522 | +€1.9m | +1267.8% |
| Profit (loss) for the period before taxes | 9903 | -€1,080,990 | -€1,620,293 | -€539,302 | -49.9% |
| Income taxes | 67/77 | €2,468 | €0 | -€2,468 | -100.0% |
| Profit (loss) for the period | 9904 | -€1,083,459 | -€1,620,293 | -€536,834 | -49.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,083,459 | -€1,620,293 | -€536,834 | -49.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.