DUCTAPE: 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.
DUCTAPE
Largest movements
- Receivables within one year +€138,062
up €138,062 (+93.1%), from €148,227 to €286,289
of which Trade receivables: +€135,235
- Tangible fixed assets -€15,105
down €15,105 (-48.6%), from €31,109 to €16,005
- Cash +€13,075
up €13,075 (+6.4%), from €203,038 to €216,113
mainly Tax, wage and social debts (+€64,236) and Accrued charges and deferred income (+€58,736)
- Tax, wage and social debts +€64,236
up €64,236 (+314.2%), from €20,443 to €84,679
of which Taxes: +€46,354
- Accrued charges and deferred income +€58,736
up €58,736 (+4646.8%), from €1,264 to €60,000
- Reserves +€28,841
up €28,841 (+28.6%), from €100,822 to €129,663
- Debts after one year -€11,722
down €11,722 (-100.0%), from €11,722 to €0
- Gross operating margin +€57,889
up €57,889 (+51.5%), from €112,414 to €170,303
- Staff costs +€27,029
up €27,029 (+30.2%), from €89,397 to €116,426
- Taxes +€7,372
up €7,372 (+3517.9%), from €210 to €7,581
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 | €388,228 | €522,630 | +€134,402 | +34.6% |
| Fixed assets | 21/28 | €31,109 | €16,005 | -€15,105 | -48.6% |
| Tangible fixed assets | 22/27 | €31,109 | €16,005 | -€15,105 | -48.6% |
| Furniture and vehicles | 24 | €31,109 | €16,005 | -€15,105 | -48.6% |
| Current assets | 29/58 | €357,118 | €506,625 | +€149,507 | +41.9% |
| Amounts receivable within one year | 40/41 | €148,227 | €286,289 | +€138,062 | +93.1% |
| Trade receivables | 40 | €148,227 | €283,461 | +€135,235 | +91.2% |
| Other amounts receivable | 41 | €0 | €2,828 | +€2,828 | |
| Cash at bank and in hand | 54/58 | €203,038 | €216,113 | +€13,075 | +6.4% |
| Deferred charges and accrued income | 490/1 | €5,854 | €4,223 | -€1,631 | -27.9% |
| Total equity and liabilities | 10/49 | €388,228 | €522,630 | +€134,402 | +34.6% |
| Equity | 10/15 | €110,122 | €138,963 | +€28,841 | +26.2% |
| Contributions | 10/11 | €9,300 | €9,300 | = | 0.0% |
| Reserves | 13 | €100,822 | €129,663 | +€28,841 | +28.6% |
| Distributable reserves | 133 | €100,822 | €129,663 | +€28,841 | +28.6% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €278,106 | €383,666 | +€105,561 | +38.0% |
| Amounts payable after more than one year | 17 | €11,722 | €0 | -€11,722 | -100.0% |
| Financial debts | 170/4 | €11,722 | €0 | -€11,722 | -100.0% |
| Amounts payable within one year | 42/48 | €265,120 | €323,666 | +€58,547 | +22.1% |
| Current portion of amounts payable after more than one year | 42 | €12,611 | €11,722 | -€889 | -7.1% |
| Trade debts | 44 | €231,106 | €226,924 | -€4,182 | -1.8% |
| Suppliers | 440/4 | €231,106 | €226,924 | -€4,182 | -1.8% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €20,443 | €84,679 | +€64,236 | +314.2% |
| Taxes | 450/3 | €14,333 | €60,687 | +€46,354 | +323.4% |
| Remuneration and social security | 454/9 | €6,111 | €23,993 | +€17,882 | +292.6% |
| Other amounts payable | 47/48 | €959 | €341 | -€618 | -64.5% |
| Accrued charges and deferred income | 492/3 | €1,264 | €60,000 | +€58,736 | +4646.8% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €89,397 | €116,426 | +€27,029 | +30.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,634 | €16,137 | +€503 | +3.2% |
| Other operating charges | 640/8 | €1,349 | €794 | -€556 | -41.2% |
| Gross operating margin | 9900 | €112,414 | €170,303 | +€57,889 | +51.5% |
| Operating profit (loss) | 9901 | €6,033 | €36,946 | +€30,913 | +512.4% |
| Financial income | 75/76B | €93 | €131 | +€39 | +41.9% |
| Recurring financial income | 75 | €93 | €131 | +€39 | +41.9% |
| Financial charges | 65/66B | €737 | €655 | -€82 | -11.1% |
| Recurring financial charges | 65 | €737 | €655 | -€82 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €5,389 | €36,422 | +€31,034 | +575.9% |
| Income taxes | 67/77 | €210 | €7,581 | +€7,372 | +3517.9% |
| Profit (loss) for the period | 9904 | €5,179 | €28,841 | +€23,662 | +456.8% |
| Profit (loss) for the period to be appropriated | 9905 | €5,179 | €28,841 | +€23,662 | +456.8% |
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 8 October 2026 via checked.be.