DE.CO.RE.: 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.
DE.CO.RE.
Largest movements
- Cash +€74,612
up €74,612 (+78.3%), from €95,243 to €169,854
mainly Current investments (+€50,000) and Other debts (+€40,758)
- Current investments -€50,000
no longer reported in 2025 (was €50,000)
- Receivables within one year -€2,304
down €2,304 (-21.5%), from €10,728 to €8,424
of which Other amounts receivable: -€2,475
- Reserves -€42,478
down €42,478 (-38.4%), from €110,478 to €68,000
- Other debts +€40,758
up €40,758 (+1056.2%), from €3,859 to €44,617
- Trade debts +€33,486
up €33,486 (+570.5%), from €5,869 to €39,356
- Tax, wage and social debts -€10,700
down €10,700 (-33.6%), from €31,803 to €21,103
of which Taxes: -€11,380
- Gross operating margin -€40,327
down €40,327 (-29.9%), from €134,703 to €94,376
- Taxes -€11,542
down €11,542 (-72.2%), from €15,987 to €4,445
- Other operating charges -€4,922
down €4,922 (-76.2%), from €6,458 to €1,536
- Financial charges +€2,802
up €2,802 (+69.1%), from €4,054 to €6,857
- Staff costs +€2,547
up €2,547 (+3.3%), from €77,150 to €79,696
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 | €171,649 | €192,467 | +€20,818 | +12.1% |
| Fixed assets | 21/28 | €6,164 | €4,538 | -€1,626 | -26.4% |
| Tangible fixed assets | 22/27 | €6,164 | €4,538 | -€1,626 | -26.4% |
| Furniture and vehicles | 24 | €6,164 | €4,538 | -€1,626 | -26.4% |
| Current assets | 29/58 | €165,484 | €187,929 | +€22,445 | +13.6% |
| Amounts receivable within one year | 40/41 | €10,728 | €8,424 | -€2,304 | -21.5% |
| Trade receivables | 40 | €6,123 | €6,294 | +€171 | +2.8% |
| Other amounts receivable | 41 | €4,605 | €2,130 | -€2,475 | -53.7% |
| Current investments | 50/53 | €50,000 | - | -€50,000 | |
| Cash at bank and in hand | 54/58 | €95,243 | €169,854 | +€74,612 | +78.3% |
| Deferred charges and accrued income | 490/1 | €9,514 | €9,651 | +€137 | +1.4% |
| Total equity and liabilities | 10/49 | €171,649 | €192,467 | +€20,818 | +12.1% |
| Equity | 10/15 | €130,118 | €87,392 | -€42,726 | -32.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €110,478 | €68,000 | -€42,478 | -38.4% |
| Distributable reserves | 133 | €110,478 | €68,000 | -€42,478 | -38.4% |
| Profit (loss) carried forward | 14 | €1,089 | €842 | -€247 | -22.7% |
| Amounts payable | 17/49 | €41,531 | €105,075 | +€63,544 | +153.0% |
| Amounts payable within one year | 42/48 | €41,531 | €105,075 | +€63,544 | +153.0% |
| Trade debts | 44 | €5,869 | €39,356 | +€33,486 | +570.5% |
| Suppliers | 440/4 | €5,869 | €39,356 | +€33,486 | +570.5% |
| Taxes, remuneration and social security | 45 | €31,803 | €21,103 | -€10,700 | -33.6% |
| Taxes | 450/3 | €16,801 | €5,421 | -€11,380 | -67.7% |
| Remuneration and social security | 454/9 | €15,002 | €15,682 | +€680 | +4.5% |
| Other amounts payable | 47/48 | €3,859 | €44,617 | +€40,758 | +1056.2% |
| Remuneration, social security and pensions | 62 | €77,150 | €79,696 | +€2,547 | +3.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,626 | €1,626 | = | 0.0% |
| Other operating charges | 640/8 | €6,458 | €1,536 | -€4,922 | -76.2% |
| Gross operating margin | 9900 | €134,703 | €94,376 | -€40,327 | -29.9% |
| Operating profit (loss) | 9901 | €49,469 | €11,517 | -€37,951 | -76.7% |
| Financial income | 75/76B | €1,974 | €1,918 | -€56 | -2.8% |
| Recurring financial income | 75 | €1,974 | €1,918 | -€56 | -2.8% |
| Financial charges | 65/66B | €4,054 | €6,857 | +€2,802 | +69.1% |
| Recurring financial charges | 65 | €4,054 | €6,857 | +€2,802 | +69.1% |
| Profit (loss) for the period before taxes | 9903 | €47,388 | €6,578 | -€40,809 | -86.1% |
| Income taxes | 67/77 | €15,987 | €4,445 | -€11,542 | -72.2% |
| Profit (loss) for the period | 9904 | €31,401 | €2,133 | -€29,268 | -93.2% |
| Profit (loss) for the period to be appropriated | 9905 | €31,401 | €2,133 | -€29,268 | -93.2% |
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 11 October 2026 via checked.be.