DE RIDDER M&A ADVISOR: 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 RIDDER M&A ADVISOR
Largest movements
- Cash -€52,172
down €52,172 (-29.8%), from €174,879 to €122,707
mainly Accrued charges and deferred income (-€165,763) and Investment in fixed assets (net) (-€86,052)
- Receivables within one year -€23,321
down €23,321 (-60.9%), from €38,294 to €14,973
of which Trade receivables: -€38,294
- Tangible fixed assets +€20,379
up €20,379 (+1.7%), from €1.2m to €1.2m
of which Plant, machinery and equipment: +€37,638
- Deferred charges and accrued income +€19,947
new in 2025: €19,947
- Other debts +€189,084
up €189,084 (+137%), from €138,036 to €327,120
- Accrued charges and deferred income -€165,763
no longer reported in 2025 (was €165,763)
- Debts after one year -€40,876
down €40,876 (-7.9%), from €520,280 to €479,404
- Trade debts -€14,629
down €14,629 (-66.7%), from €21,941 to €7,312
- Gross operating margin -€415,096
down €415,096 (-81.3%), from €510,881 to €95,785
- Depreciation +€46,304
up €46,304 (+296%), from €15,619 to €61,923
- Taxes -€36,167
down €36,167 (-79.2%), from €45,668 to €9,501
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 | €1,418,415 | €1,386,998 | -€31,417 | -2.2% |
| Fixed assets | 21/28 | €1,205,242 | €1,229,371 | +€24,129 | +2.0% |
| Tangible fixed assets | 22/27 | €1,205,242 | €1,225,621 | +€20,379 | +1.7% |
| Land and buildings | 22 | €933,477 | €932,584 | -€893 | -0.1% |
| Plant, machinery and equipment | 23 | €236,195 | €273,833 | +€37,638 | +15.9% |
| Furniture and vehicles | 24 | €35,570 | €19,204 | -€16,366 | -46.0% |
| Financial fixed assets | 28 | - | €3,750 | +€3,750 | |
| Current assets | 29/58 | €213,173 | €157,627 | -€55,546 | -26.1% |
| Amounts receivable within one year | 40/41 | €38,294 | €14,973 | -€23,321 | -60.9% |
| Trade receivables | 40 | €38,294 | - | -€38,294 | |
| Other amounts receivable | 41 | - | €14,973 | +€14,973 | |
| Cash at bank and in hand | 54/58 | €174,879 | €122,707 | -€52,172 | -29.8% |
| Deferred charges and accrued income | 490/1 | - | €19,947 | +€19,947 | |
| Total equity and liabilities | 10/49 | €1,418,415 | €1,386,998 | -€31,417 | -2.2% |
| Equity | 10/15 | €441,517 | €450,665 | +€9,148 | +2.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €330,327 | €330,327 | = | 0.0% |
| Distributable reserves | 133 | €330,327 | €330,327 | = | 0.0% |
| Profit (loss) carried forward | 14 | €91,190 | €100,338 | +€9,148 | +10.0% |
| Amounts payable | 17/49 | €976,898 | €936,333 | -€40,565 | -4.2% |
| Amounts payable after more than one year | 17 | €520,280 | €479,404 | -€40,876 | -7.9% |
| Financial debts | 170/4 | €520,280 | €479,404 | -€40,876 | -7.9% |
| Amounts payable within one year | 42/48 | €290,855 | €456,929 | +€166,074 | +57.1% |
| Current portion of amounts payable after more than one year | 42 | €40,048 | €40,876 | +€828 | +2.1% |
| Trade debts | 44 | €21,941 | €7,312 | -€14,629 | -66.7% |
| Suppliers | 440/4 | €21,941 | €7,312 | -€14,629 | -66.7% |
| Taxes, remuneration and social security | 45 | €90,830 | €81,621 | -€9,209 | -10.1% |
| Taxes | 450/3 | €90,830 | €81,621 | -€9,209 | -10.1% |
| Other amounts payable | 47/48 | €138,036 | €327,120 | +€189,084 | +137% |
| Accrued charges and deferred income | 492/3 | €165,763 | - | -€165,763 | |
| Remuneration, social security and pensions | 62 | - | €3,391 | +€3,391 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,619 | €61,923 | +€46,304 | +296% |
| Other operating charges | 640/8 | €4,606 | €3,724 | -€882 | -19.1% |
| Gross operating margin | 9900 | €510,881 | €95,785 | -€415,096 | -81.3% |
| Operating profit (loss) | 9901 | €490,656 | €26,747 | -€463,909 | -94.5% |
| Financial income | 75/76B | - | €3,300 | +€3,300 | |
| Recurring financial income | 75 | - | €3,300 | +€3,300 | |
| Financial charges | 65/66B | €12,090 | €11,398 | -€692 | -5.7% |
| Recurring financial charges | 65 | €12,090 | €11,398 | -€692 | -5.7% |
| Profit (loss) for the period before taxes | 9903 | €478,566 | €18,649 | -€459,917 | -96.1% |
| Income taxes | 67/77 | €45,668 | €9,501 | -€36,167 | -79.2% |
| Profit (loss) for the period | 9904 | €432,898 | €9,148 | -€423,750 | -97.9% |
| Profit (loss) for the period to be appropriated | 9905 | €432,898 | €9,148 | -€423,750 | -97.9% |
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 28 October 2026 via checked.be.