De Dreef: 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 Dreef
Largest movements
- Tangible fixed assets -€21,485
down €21,485 (-6.3%), from €339,737 to €318,252
of which Furniture and vehicles: -€10,907
- Receivables within one year -€12,586
down €12,586 (-37.9%), from €33,192 to €20,606
of which Trade receivables: -€19,893
- Cash +€7,894
up €7,894 (+22.5%), from €35,088 to €42,981
mainly Depreciation (+€23,430) and Net result for the year (+€17,450)
- Debts after one year -€18,940
down €18,940 (-7.2%), from €263,785 to €244,845
- Reserves +€17,450
up €17,450 (+14.9%), from €117,077 to €134,527
- Other debts -€13,106
no longer reported in 2025 (was €13,106)
- Tax, wage and social debts -€8,249
down €8,249 (-99.5%), from €8,291 to €41
- Gross operating margin -€4,148
down €4,148 (-6.3%), from €66,020 to €61,871
- Depreciation -€2,422
down €2,422 (-9.4%), from €25,852 to €23,430
- Financial income -€1,212
down €1,212 (-48.8%), from €2,482 to €1,270
- Taxes -€1,171
down €1,171 (-8.8%), from €13,291 to €12,120
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 | €427,285 | €402,403 | -€24,883 | -5.8% |
| Fixed assets | 21/28 | €356,587 | €335,102 | -€21,485 | -6.0% |
| Tangible fixed assets | 22/27 | €339,737 | €318,252 | -€21,485 | -6.3% |
| Land and buildings | 22 | €319,214 | €309,067 | -€10,147 | -3.2% |
| Plant, machinery and equipment | 23 | €3,150 | €2,719 | -€431 | -13.7% |
| Furniture and vehicles | 24 | €17,373 | €6,466 | -€10,907 | -62.8% |
| Financial fixed assets | 28 | €16,850 | €16,850 | = | 0.0% |
| Current assets | 29/58 | €70,699 | €67,301 | -€3,398 | -4.8% |
| Amounts receivable within one year | 40/41 | €33,192 | €20,606 | -€12,586 | -37.9% |
| Trade receivables | 40 | €31,961 | €12,068 | -€19,893 | -62.2% |
| Other amounts receivable | 41 | €1,231 | €8,538 | +€7,307 | +594% |
| Current investments | 50/53 | €1,000 | €3,596 | +€2,596 | +259% |
| Cash at bank and in hand | 54/58 | €35,088 | €42,981 | +€7,894 | +22.5% |
| Deferred charges and accrued income | 490/1 | €1,419 | €118 | -€1,300 | -91.7% |
| Total equity and liabilities | 10/49 | €427,285 | €402,403 | -€24,883 | -5.8% |
| Equity | 10/15 | €123,277 | €140,727 | +€17,450 | +14.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €117,077 | €134,527 | +€17,450 | +14.9% |
| Distributable reserves | 133 | €117,077 | €134,527 | +€17,450 | +14.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | 0.0% |
| Amounts payable | 17/49 | €304,008 | €261,676 | -€42,333 | -13.9% |
| Amounts payable after more than one year | 17 | €263,785 | €244,845 | -€18,940 | -7.2% |
| Financial debts | 170/4 | €263,785 | €244,845 | -€18,940 | -7.2% |
| Amounts payable within one year | 42/48 | €40,182 | €16,830 | -€23,352 | -58.1% |
| Current portion of amounts payable after more than one year | 42 | €14,844 | €15,464 | +€621 | +4.2% |
| Trade debts | 44 | €3,941 | €1,324 | -€2,617 | -66.4% |
| Suppliers | 440/4 | €3,941 | €1,324 | -€2,617 | -66.4% |
| Taxes, remuneration and social security | 45 | €8,291 | €41 | -€8,249 | -99.5% |
| Taxes | 450/3 | €8,291 | €41 | -€8,249 | -99.5% |
| Other amounts payable | 47/48 | €13,106 | - | -€13,106 | |
| Accrued charges and deferred income | 492/3 | €41 | - | -€41 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,852 | €23,430 | -€2,422 | -9.4% |
| Other operating charges | 640/8 | €1,327 | €1,308 | -€19 | -1.4% |
| Gross operating margin | 9900 | €66,020 | €61,871 | -€4,148 | -6.3% |
| Operating profit (loss) | 9901 | €38,841 | €37,133 | -€1,708 | -4.4% |
| Financial income | 75/76B | €2,482 | €1,270 | -€1,212 | -48.8% |
| Recurring financial income | 75 | €2,482 | €1,270 | -€1,212 | -48.8% |
| Financial charges | 65/66B | €9,447 | €8,834 | -€614 | -6.5% |
| Recurring financial charges | 65 | €9,447 | €8,834 | -€614 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €31,876 | €29,570 | -€2,306 | -7.2% |
| Income taxes | 67/77 | €13,291 | €12,120 | -€1,171 | -8.8% |
| Profit (loss) for the period | 9904 | €18,585 | €17,450 | -€1,135 | -6.1% |
| Profit (loss) for the period to be appropriated | 9905 | €18,585 | €17,450 | -€1,135 | -6.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.