Ducofin: 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.
Ducofin
Largest movements
- Cash +€113,194
up €113,194 (+119%), from €95,276 to €208,470
mainly Other debts (+€78,527) and Receivables within one year (+€41,848)
- Receivables within one year -€41,848
down €41,848 (-51.1%), from €81,900 to €40,052
of which Trade receivables: -€43,913
- Current investments +€9,000
up €9,000 (+63.4%), from €14,200 to €23,200
- Tangible fixed assets -€8,223
down €8,223 (-34.8%), from €23,627 to €15,404
- Other debts +€78,527
up €78,527 (+1,784%), from €4,402 to €82,929
- Debts after one year -€8,197
down €8,197 (-56.6%), from €14,488 to €6,291
- Financial charges +€49,518
up €49,518 (+3,233%), from €1,531 to €51,049
- Taxes -€20,982
down €20,982 (-65.8%), from €31,910 to €10,928
- Gross operating margin -€7,997
down €7,997 (-7.1%), from €111,973 to €103,976
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 | €216,846 | €288,811 | +€71,965 | +33.2% |
| Fixed assets | 21/28 | €23,627 | €15,404 | -€8,223 | -34.8% |
| Tangible fixed assets | 22/27 | €23,627 | €15,404 | -€8,223 | -34.8% |
| Furniture and vehicles | 24 | €23,627 | €15,404 | -€8,223 | -34.8% |
| Current assets | 29/58 | €193,219 | €273,407 | +€80,188 | +41.5% |
| Amounts receivable within one year | 40/41 | €81,900 | €40,052 | -€41,848 | -51.1% |
| Trade receivables | 40 | €81,893 | €37,980 | -€43,913 | -53.6% |
| Other amounts receivable | 41 | €7 | €2,072 | +€2,065 | +28,678% |
| Current investments | 50/53 | €14,200 | €23,200 | +€9,000 | +63.4% |
| Cash at bank and in hand | 54/58 | €95,276 | €208,470 | +€113,194 | +119% |
| Deferred charges and accrued income | 490/1 | €1,843 | €1,685 | -€158 | -8.5% |
| Total equity and liabilities | 10/49 | €216,846 | €288,811 | +€71,965 | +33.2% |
| Equity | 10/15 | €143,307 | €142,744 | -€563 | -0.4% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €143,207 | €142,644 | -€563 | -0.4% |
| Distributable reserves | 133 | €143,207 | €142,644 | -€563 | -0.4% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €73,540 | €146,067 | +€72,527 | +98.6% |
| Amounts payable after more than one year | 17 | €14,488 | €6,291 | -€8,197 | -56.6% |
| Financial debts | 170/4 | €14,488 | €6,291 | -€8,197 | -56.6% |
| Amounts payable within one year | 42/48 | €58,308 | €137,253 | +€78,945 | +135% |
| Current portion of amounts payable after more than one year | 42 | €7,986 | €8,198 | +€212 | +2.7% |
| Trade debts | 44 | €4,255 | €3,153 | -€1,102 | -25.9% |
| Suppliers | 440/4 | €4,255 | €3,153 | -€1,102 | -25.9% |
| Taxes, remuneration and social security | 45 | €41,665 | €42,973 | +€1,308 | +3.1% |
| Taxes | 450/3 | €41,665 | €42,973 | +€1,308 | +3.1% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €4,402 | €82,929 | +€78,527 | +1,784% |
| Accrued charges and deferred income | 492/3 | €743 | €2,524 | +€1,781 | +240% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,889 | €8,224 | +€335 | +4.2% |
| Other operating charges | 640/8 | €387 | €796 | +€409 | +106% |
| Non-recurring operating charges | 66A | €567 | €232 | -€335 | -59.1% |
| Gross operating margin | 9900 | €111,973 | €103,976 | -€7,997 | -7.1% |
| Operating profit (loss) | 9901 | €103,129 | €94,725 | -€8,404 | -8.1% |
| Financial income | 75/76B | €410 | €0 | -€410 | -100% |
| Recurring financial income | 75 | €410 | €0 | -€410 | -100% |
| Financial charges | 65/66B | €1,531 | €51,049 | +€49,518 | +3,233% |
| Recurring financial charges | 65 | €1,531 | €51,049 | +€49,518 | +3,233% |
| Profit (loss) for the period before taxes | 9903 | €102,008 | €43,675 | -€58,333 | -57.2% |
| Income taxes | 67/77 | €31,910 | €10,928 | -€20,982 | -65.8% |
| Profit (loss) for the period | 9904 | €70,098 | €32,747 | -€37,351 | -53.3% |
| Profit (loss) for the period to be appropriated | 9905 | €70,098 | €32,747 | -€37,351 | -53.3% |
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 17 October 2026 via checked.be.