De Rode Dendron: 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 Rode Dendron
Largest movements
- Receivables within one year -€9,253
down €9,253 (-23.8%), from €38,836 to €29,583
of which Trade receivables: -€9,438
- Tangible fixed assets -€4,889
down €4,889 (-18.7%), from €26,132 to €21,242
of which Plant, machinery and equipment: -€4,256
- Cash +€4,066
up €4,066 (+34.4%), from €11,821 to €15,888
mainly Receivables within one year (+€9,253) and Depreciation (+€6,570)
- Deferred charges and accrued income -€2,136
no longer reported in 2025 (was €2,136)
- Stocks and contracts +€1,408
up €1,408 (+11.6%), from €12,112 to €13,520
- Trade debts -€6,563
down €6,563 (-46.6%), from €14,090 to €7,527
- Other debts +€5,533
up €5,533 (+20.6%), from €26,904 to €32,437
- Tax, wage and social debts -€4,128
down €4,128 (-26.7%), from €15,437 to €11,309
of which Remuneration and social security: -€2,080
- Profit (loss) carried forward -€4,089
down €4,089 (-15.2%), from €26,848 to €22,760
- Short-term financial debts -€1,557
no longer reported in 2025 (was €1,557)
- Gross operating margin -€28,532
down €28,532 (-27.5%), from €103,842 to €75,310
- Staff costs -€12,013
down €12,013 (-15.2%), from €79,245 to €67,232
- Depreciation -€1,069
down €1,069 (-14.0%), from €7,639 to €6,570
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 | €91,036 | €80,233 | -€10,804 | -11.9% |
| Fixed assets | 21/28 | €26,132 | €21,242 | -€4,889 | -18.7% |
| Tangible fixed assets | 22/27 | €26,132 | €21,242 | -€4,889 | -18.7% |
| Land and buildings | 22 | €5,699 | €5,286 | -€413 | -7.3% |
| Plant, machinery and equipment | 23 | €20,212 | €15,956 | -€4,256 | -21.1% |
| Furniture and vehicles | 24 | €221 | - | -€221 | |
| Current assets | 29/58 | €64,905 | €58,990 | -€5,915 | -9.1% |
| Stocks and contracts in progress | 3 | €12,112 | €13,520 | +€1,408 | +11.6% |
| Stocks | 30/36 | €12,112 | €13,520 | +€1,408 | +11.6% |
| Amounts receivable within one year | 40/41 | €38,836 | €29,583 | -€9,253 | -23.8% |
| Trade receivables | 40 | €38,781 | €29,343 | -€9,438 | -24.3% |
| Other amounts receivable | 41 | €55 | €240 | +€185 | +335% |
| Cash at bank and in hand | 54/58 | €11,821 | €15,888 | +€4,066 | +34.4% |
| Deferred charges and accrued income | 490/1 | €2,136 | - | -€2,136 | |
| Total equity and liabilities | 10/49 | €91,036 | €80,233 | -€10,804 | -11.9% |
| Equity | 10/15 | €33,048 | €28,960 | -€4,089 | -12.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,848 | €22,760 | -€4,089 | -15.2% |
| Amounts payable | 17/49 | €57,988 | €51,273 | -€6,715 | -11.6% |
| Amounts payable within one year | 42/48 | €57,988 | €51,273 | -€6,715 | -11.6% |
| Financial debts | 43 | €1,557 | - | -€1,557 | |
| Credit institutions | 430/8 | €1,557 | - | -€1,557 | |
| Trade debts | 44 | €14,090 | €7,527 | -€6,563 | -46.6% |
| Suppliers | 440/4 | €14,090 | €7,527 | -€6,563 | -46.6% |
| Taxes, remuneration and social security | 45 | €15,437 | €11,309 | -€4,128 | -26.7% |
| Taxes | 450/3 | €9,543 | €7,495 | -€2,048 | -21.5% |
| Remuneration and social security | 454/9 | €5,893 | €3,813 | -€2,080 | -35.3% |
| Other amounts payable | 47/48 | €26,904 | €32,437 | +€5,533 | +20.6% |
| Non-recurring operating income | 76A | €2,474 | - | -€2,474 | |
| Remuneration, social security and pensions | 62 | €79,245 | €67,232 | -€12,013 | -15.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,639 | €6,570 | -€1,069 | -14.0% |
| Other operating charges | 640/8 | €2,936 | €3,023 | +€88 | +3.0% |
| Non-recurring operating charges | 66A | €3,045 | - | -€3,045 | |
| Gross operating margin | 9900 | €103,842 | €75,310 | -€28,532 | -27.5% |
| Operating profit (loss) | 9901 | €10,977 | -€1,516 | -€12,493 | |
| Financial income | 75/76B | €450 | €49 | -€402 | -89.2% |
| Recurring financial income | 75 | €450 | €49 | -€402 | -89.2% |
| Financial charges | 65/66B | €2,655 | €2,622 | -€33 | -1.2% |
| Recurring financial charges | 65 | €2,655 | €2,622 | -€33 | -1.2% |
| Profit (loss) for the period before taxes | 9903 | €8,773 | -€4,089 | -€12,861 | |
| Profit (loss) for the period | 9904 | €8,773 | -€4,089 | -€12,861 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,773 | -€4,089 | -€12,861 |
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 16 October 2026 via checked.be.