DUQUA: 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.
DUQUA
Largest movements
- Receivables within one year -€17,259
down €17,259 (-19.0%), from €90,783 to €73,524
of which Trade receivables: -€21,200
- Cash -€10,448
down €10,448 (-40.5%), from €25,765 to €15,317
mainly Contributions, distributions and other (-€75,000) and Investment in fixed assets (net) (-€54,649)
- Debts after one year -€54,399
down €54,399 (-18.5%), from €293,859 to €239,461
- Profit (loss) carried forward +€20,231
up €20,231 (+35.3%), from €57,232 to €77,463
- Current portion of long-term debt +€10,905
up €10,905 (+21.5%), from €50,695 to €61,600
- Reserves -€7,599
down €7,599 (-4.9%), from €154,742 to €147,144
of which Tax-exempt reserves: -€7,599
- Gross operating margin -€17,526
down €17,526 (-7.7%), from €227,704 to €210,178
- Depreciation +€6,252
up €6,252 (+11.6%), from €53,964 to €60,216
- Taxes -€4,767
down €4,767 (-12.9%), from €36,885 to €32,118
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 | €755,594 | €722,356 | -€33,239 | -4.4% |
| Fixed assets | 21/28 | €634,381 | €628,814 | -€5,567 | -0.9% |
| Tangible fixed assets | 22/27 | €633,183 | €627,616 | -€5,567 | -0.9% |
| Land and buildings | 22 | €633,041 | €627,616 | -€5,426 | -0.9% |
| Furniture and vehicles | 24 | €141 | - | -€141 | |
| Financial fixed assets | 28 | €1,198 | €1,198 | = | 0.0% |
| Current assets | 29/58 | €121,213 | €93,542 | -€27,671 | -22.8% |
| Amounts receivable within one year | 40/41 | €90,783 | €73,524 | -€17,259 | -19.0% |
| Trade receivables | 40 | €21,200 | - | -€21,200 | |
| Other amounts receivable | 41 | €69,583 | €73,524 | +€3,941 | +5.7% |
| Cash at bank and in hand | 54/58 | €25,765 | €15,317 | -€10,448 | -40.5% |
| Deferred charges and accrued income | 490/1 | €4,665 | €4,700 | +€36 | +0.8% |
| Total equity and liabilities | 10/49 | €755,594 | €722,356 | -€33,239 | -4.4% |
| Equity | 10/15 | €286,974 | €299,607 | +€12,632 | +4.4% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €154,742 | €147,144 | -€7,599 | -4.9% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €70,349 | €62,750 | -€7,599 | -10.8% |
| Distributable reserves | 133 | €76,893 | €76,893 | = | 0.0% |
| Profit (loss) carried forward | 14 | €57,232 | €77,463 | +€20,231 | +35.3% |
| Provisions and deferred taxes | 16 | €25,254 | €22,555 | -€2,698 | -10.7% |
| Deferred taxes | 168 | €25,254 | €22,555 | -€2,698 | -10.7% |
| Amounts payable | 17/49 | €443,366 | €400,193 | -€43,173 | -9.7% |
| Amounts payable after more than one year | 17 | €293,859 | €239,461 | -€54,399 | -18.5% |
| Financial debts | 170/4 | €293,859 | €239,461 | -€54,399 | -18.5% |
| Amounts payable within one year | 42/48 | €148,232 | €158,853 | +€10,621 | +7.2% |
| Current portion of amounts payable after more than one year | 42 | €50,695 | €61,600 | +€10,905 | +21.5% |
| Trade debts | 44 | €61 | €834 | +€773 | +1264.4% |
| Suppliers | 440/4 | €61 | €834 | +€773 | +1264.4% |
| Taxes, remuneration and social security | 45 | €3,330 | €1,885 | -€1,445 | -43.4% |
| Taxes | 450/3 | €3,330 | €1,885 | -€1,445 | -43.4% |
| Other amounts payable | 47/48 | €94,146 | €94,534 | +€388 | +0.4% |
| Accrued charges and deferred income | 492/3 | €1,275 | €1,880 | +€605 | +47.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,964 | €60,216 | +€6,252 | +11.6% |
| Other operating charges | 640/8 | €26,888 | €25,592 | -€1,297 | -4.8% |
| Gross operating margin | 9900 | €227,704 | €210,178 | -€17,526 | -7.7% |
| Operating profit (loss) | 9901 | €146,852 | €124,371 | -€22,481 | -15.3% |
| Financial income | 75/76B | €581 | €924 | +€343 | +59.1% |
| Recurring financial income | 75 | €581 | €924 | +€343 | +59.1% |
| Financial charges | 65/66B | €6,890 | €8,242 | +€1,353 | +19.6% |
| Recurring financial charges | 65 | €6,890 | €8,242 | +€1,353 | +19.6% |
| Profit (loss) for the period before taxes | 9903 | €140,543 | €117,052 | -€23,491 | -16.7% |
| Transfer from deferred taxes | 780 | €1,572 | €2,698 | +€1,127 | +71.7% |
| Income taxes | 67/77 | €36,885 | €32,118 | -€4,767 | -12.9% |
| Profit (loss) for the period | 9904 | €105,229 | €87,632 | -€17,597 | -16.7% |
| Transfer from tax-exempt reserves | 789 | €4,218 | €7,599 | +€3,380 | +80.1% |
| Profit (loss) for the period to be appropriated | 9905 | €109,447 | €95,231 | -€14,216 | -13.0% |
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 1 October 2026 via checked.be.