M.DUCO: 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.
M.DUCO
Largest movements
- Cash +€31,404
up €31,404 (+85.5%), from €36,731 to €68,135
mainly Net result for the year (+€35,483) and Tax, wage and social debts (+€4,034)
- Receivables within one year +€9,967
up €9,967 (+263.4%), from €3,783 to €13,750
- Profit (loss) carried forward +€35,483
up €35,483 (+147.4%), from €24,065 to €59,548
- Tax, wage and social debts +€4,034
up €4,034 (+28.0%), from €14,401 to €18,435
of which Taxes: +€4,379
- Trade debts +€1,170
up €1,170 (+45.7%), from €2,560 to €3,730
- Gross operating margin +€39,823
up €39,823 (+246.7%), from €16,144 to €55,967
- Taxes +€11,000
up €11,000 (+441.4%), from €2,492 to €13,492
- Other operating charges -€3,048
down €3,048 (-75.8%), from €4,024 to €975
- Financial charges +€726
up €726 (+15.8%), from €4,606 to €5,332
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 | €43,027 | €83,713 | +€40,686 | +94.6% |
| Fixed assets | 21/28 | €2,513 | €1,828 | -€685 | -27.3% |
| Tangible fixed assets | 22/27 | €2,513 | €1,828 | -€685 | -27.3% |
| Plant, machinery and equipment | 23 | €1,629 | €1,210 | -€419 | -25.7% |
| Furniture and vehicles | 24 | €883 | €618 | -€266 | -30.1% |
| Current assets | 29/58 | €40,514 | €81,885 | +€41,371 | +102.1% |
| Amounts receivable within one year | 40/41 | €3,783 | €13,750 | +€9,967 | +263.4% |
| Other amounts receivable | 41 | €3,783 | €13,750 | +€9,967 | +263.4% |
| Cash at bank and in hand | 54/58 | €36,731 | €68,135 | +€31,404 | +85.5% |
| Total equity and liabilities | 10/49 | €43,027 | €83,713 | +€40,686 | +94.6% |
| Equity | 10/15 | €26,065 | €61,548 | +€35,483 | +136.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €24,065 | €59,548 | +€35,483 | +147.4% |
| Amounts payable | 17/49 | €16,961 | €22,165 | +€5,203 | +30.7% |
| Amounts payable within one year | 42/48 | €16,961 | €22,165 | +€5,203 | +30.7% |
| Trade debts | 44 | €2,560 | €3,730 | +€1,170 | +45.7% |
| Suppliers | 440/4 | €2,560 | €3,730 | +€1,170 | +45.7% |
| Taxes, remuneration and social security | 45 | €14,401 | €18,435 | +€4,034 | +28.0% |
| Taxes | 450/3 | €11,630 | €16,009 | +€4,379 | +37.6% |
| Remuneration and social security | 454/9 | €2,771 | €2,426 | -€345 | -12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €685 | €685 | = | 0.0% |
| Other operating charges | 640/8 | €4,024 | €975 | -€3,048 | -75.8% |
| Gross operating margin | 9900 | €16,144 | €55,967 | +€39,823 | +246.7% |
| Operating profit (loss) | 9901 | €11,435 | €54,307 | +€42,872 | +374.9% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €4,606 | €5,332 | +€726 | +15.8% |
| Recurring financial charges | 65 | €4,606 | €5,332 | +€726 | +15.8% |
| Profit (loss) for the period before taxes | 9903 | €6,829 | €48,975 | +€42,146 | +617.2% |
| Income taxes | 67/77 | €2,492 | €13,492 | +€11,000 | +441.4% |
| Profit (loss) for the period | 9904 | €4,337 | €35,483 | +€31,146 | +718.2% |
| Profit (loss) for the period to be appropriated | 9905 | €4,337 | €35,483 | +€31,146 | +718.2% |
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 7 October 2026 via checked.be.