DUCOM: 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.
DUCOM
Largest movements
- Receivables within one year +€29,285
up €29,285 (+10.2%), from €287,683 to €316,968
of which Trade receivables: +€35,954
- Cash -€23,469
down €23,469 (-46.7%), from €50,223 to €26,755
mainly Net result for the year (-€39,387) and Investment in fixed assets (net) (-€35,239)
- Tangible fixed assets +€10,359
up €10,359 (+4.2%), from €247,404 to €257,763
of which Furniture and vehicles: +€32,651
- Profit (loss) carried forward -€39,387
down €39,387 (-2822.3%), from -€1,396 to -€40,783
- Trade debts +€38,553
up €38,553 (+47.0%), from €81,949 to €120,502
- Debts after one year +€28,826
up €28,826 (+145.6%), from €19,792 to €48,618
- Tax, wage and social debts -€14,860
down €14,860 (-51.6%), from €28,809 to €13,949
of which Taxes: -€10,597
- Gross operating margin -€38,584
down €38,584 (-32.1%), from €120,133 to €81,549
- Staff costs +€4,844
up €4,844 (+6.2%), from €77,580 to €82,424
- Financial charges -€2,547
down €2,547 (-20.9%), from €12,175 to €9,628
- Taxes -€1,963
down €1,963 (-91.2%), from €2,152 to €189
- Depreciation -€1,256
down €1,256 (-4.8%), from €26,136 to €24,880
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 | €586,928 | €602,797 | +€15,870 | +2.7% |
| Fixed assets | 21/28 | €247,404 | €257,763 | +€10,359 | +4.2% |
| Tangible fixed assets | 22/27 | €247,404 | €257,763 | +€10,359 | +4.2% |
| Land and buildings | 22 | €239,476 | €218,106 | -€21,369 | -8.9% |
| Plant, machinery and equipment | 23 | €4,470 | €3,547 | -€923 | -20.7% |
| Furniture and vehicles | 24 | €3,458 | €36,109 | +€32,651 | +944.2% |
| Current assets | 29/58 | €339,523 | €345,035 | +€5,511 | +1.6% |
| Amounts receivable within one year | 40/41 | €287,683 | €316,968 | +€29,285 | +10.2% |
| Trade receivables | 40 | €267,093 | €303,047 | +€35,954 | +13.5% |
| Other amounts receivable | 41 | €20,591 | €13,921 | -€6,670 | -32.4% |
| Cash at bank and in hand | 54/58 | €50,223 | €26,755 | -€23,469 | -46.7% |
| Deferred charges and accrued income | 490/1 | €1,617 | €1,312 | -€305 | -18.9% |
| Total equity and liabilities | 10/49 | €586,928 | €602,797 | +€15,870 | +2.7% |
| Equity | 10/15 | €254,049 | €214,661 | -€39,387 | -15.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €236,844 | €236,844 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €234,984 | €234,984 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,396 | -€40,783 | -€39,387 | -2822.3% |
| Amounts payable | 17/49 | €332,879 | €388,136 | +€55,257 | +16.6% |
| Amounts payable after more than one year | 17 | €19,792 | €48,618 | +€28,826 | +145.6% |
| Financial debts | 170/4 | €19,792 | €48,618 | +€28,826 | +145.6% |
| Amounts payable within one year | 42/48 | €313,087 | €339,507 | +€26,420 | +8.4% |
| Current portion of amounts payable after more than one year | 42 | €27,091 | €29,786 | +€2,695 | +9.9% |
| Financial debts | 43 | €175,000 | €174,858 | -€143 | -0.1% |
| Credit institutions | 430/8 | €175,000 | €174,858 | -€143 | -0.1% |
| Trade debts | 44 | €81,949 | €120,502 | +€38,553 | +47.0% |
| Suppliers | 440/4 | €81,949 | €120,502 | +€38,553 | +47.0% |
| Taxes, remuneration and social security | 45 | €28,809 | €13,949 | -€14,860 | -51.6% |
| Taxes | 450/3 | €14,851 | €4,254 | -€10,597 | -71.4% |
| Remuneration and social security | 454/9 | €13,958 | €9,695 | -€4,263 | -30.5% |
| Other amounts payable | 47/48 | €238 | €413 | +€175 | +73.3% |
| Accrued charges and deferred income | 492/3 | - | €11 | +€11 | |
| Remuneration, social security and pensions | 62 | €77,580 | €82,424 | +€4,844 | +6.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,136 | €24,880 | -€1,256 | -4.8% |
| Other operating charges | 640/8 | €3,484 | €3,815 | +€330 | +9.5% |
| Gross operating margin | 9900 | €120,133 | €81,549 | -€38,584 | -32.1% |
| Operating profit (loss) | 9901 | €12,932 | -€29,570 | -€42,502 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -66.7% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -66.7% |
| Financial charges | 65/66B | €12,175 | €9,628 | -€2,547 | -20.9% |
| Recurring financial charges | 65 | €12,175 | €9,628 | -€2,547 | -20.9% |
| Profit (loss) for the period before taxes | 9903 | €757 | -€39,198 | -€39,955 | |
| Income taxes | 67/77 | €2,152 | €189 | -€1,963 | -91.2% |
| Profit (loss) for the period | 9904 | -€1,396 | -€39,387 | -€37,992 | -2722.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,396 | -€39,387 | -€37,992 | -2722.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.