1 - DERWAT: 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.
1 - DERWAT
Largest movements
- Cash +€102,708
up €102,708 (+112%), from €91,593 to €194,302
mainly Net result for the year (+€115,872) and Receivables within one year (+€36,455)
- Receivables within one year -€36,455
down €36,455 (-42.5%), from €85,866 to €49,411
of which Trade receivables: -€26,770
- Current investments -€8,251
down €8,251 (-2.8%), from €296,170 to €287,919
- Reserves +€115,870
up €115,870 (+31.2%), from €371,649 to €487,519
- Other debts -€37,544
down €37,544 (-79.0%), from €47,520 to €9,976
- Tax, wage and social debts -€19,115
down €19,115 (-65.7%), from €29,087 to €9,972
- Financial charges +€83,328
up €83,328 (+999%), from €8,343 to €91,671
- Gross operating margin +€49,382
up €49,382 (+27.6%), from €179,241 to €228,622
- Financial income +€12,304
up €12,304 (+70.7%), from €17,414 to €29,718
- Taxes -€8,507
down €8,507 (-14.7%), from €57,806 to €49,299
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 | €474,277 | €531,632 | +€57,355 | +12.1% |
| Fixed assets | 21/28 | €648 | - | -€648 | |
| Tangible fixed assets | 22/27 | €648 | - | -€648 | |
| Plant, machinery and equipment | 23 | €648 | - | -€648 | |
| Current assets | 29/58 | €473,629 | €531,632 | +€58,003 | +12.2% |
| Amounts receivable within one year | 40/41 | €85,866 | €49,411 | -€36,455 | -42.5% |
| Trade receivables | 40 | €54,174 | €27,404 | -€26,770 | -49.4% |
| Other amounts receivable | 41 | €31,691 | €22,007 | -€9,685 | -30.6% |
| Current investments | 50/53 | €296,170 | €287,919 | -€8,251 | -2.8% |
| Cash at bank and in hand | 54/58 | €91,593 | €194,302 | +€102,708 | +112% |
| Total equity and liabilities | 10/49 | €474,277 | €531,632 | +€57,355 | +12.1% |
| Equity | 10/15 | €390,293 | €506,165 | +€115,872 | +29.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €371,649 | €487,519 | +€115,870 | +31.2% |
| Distributable reserves | 133 | €371,649 | €487,519 | +€115,870 | +31.2% |
| Profit (loss) carried forward | 14 | €44 | €46 | +€2 | +4.4% |
| Amounts payable | 17/49 | €83,985 | €25,467 | -€58,517 | -69.7% |
| Amounts payable within one year | 42/48 | €79,204 | €20,067 | -€59,137 | -74.7% |
| Trade debts | 44 | €2,597 | €119 | -€2,478 | -95.4% |
| Suppliers | 440/4 | €2,597 | €119 | -€2,478 | -95.4% |
| Taxes, remuneration and social security | 45 | €29,087 | €9,972 | -€19,115 | -65.7% |
| Taxes | 450/3 | €29,087 | €9,972 | -€19,115 | -65.7% |
| Other amounts payable | 47/48 | €47,520 | €9,976 | -€37,544 | -79.0% |
| Accrued charges and deferred income | 492/3 | €4,781 | €5,400 | +€620 | +13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,180 | €648 | -€532 | -45.1% |
| Other operating charges | 640/8 | €285 | €850 | +€566 | +199% |
| Gross operating margin | 9900 | €179,241 | €228,622 | +€49,382 | +27.6% |
| Operating profit (loss) | 9901 | €177,776 | €227,124 | +€49,348 | +27.8% |
| Financial income | 75/76B | €17,414 | €29,718 | +€12,304 | +70.7% |
| Recurring financial income | 75 | €17,414 | €29,718 | +€12,304 | +70.7% |
| Financial charges | 65/66B | €8,343 | €91,671 | +€83,328 | +999% |
| Recurring financial charges | 65 | €8,343 | €91,671 | +€83,328 | +999% |
| Profit (loss) for the period before taxes | 9903 | €186,848 | €165,171 | -€21,676 | -11.6% |
| Income taxes | 67/77 | €57,806 | €49,299 | -€8,507 | -14.7% |
| Profit (loss) for the period | 9904 | €129,042 | €115,872 | -€13,170 | -10.2% |
| Profit (loss) for the period to be appropriated | 9905 | €129,042 | €115,872 | -€13,170 | -10.2% |
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 19 October 2026 via checked.be.