DE TRACY: 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 TRACY
Largest movements
- Tangible fixed assets +€635,618
up €635,618 (+118%), from €537,625 to €1.2m
of which Furniture and vehicles: +€640,817
- Stocks and contracts -€305,000
down €305,000 (-86.2%), from €353,649 to €48,649
of which Contracts in progress: -€295,000
- Cash +€229,227
up €229,227 (+11.6%), from €2.0m to €2.2m
mainly Net result for the year (+€524,028) and Other debts (+€305,920)
- Other debts +€305,920
up €305,920 (+375%), from €81,545 to €387,465
- Reserves +€153,490
up €153,490 (+7.8%), from €2.0m to €2.1m
of which Distributable reserves: +€164,776
- Advances received +€140,275
up €140,275 (+21.6%), from €650,000 to €790,275
- Trade debts -€116,506
down €116,506 (-26.4%), from €441,954 to €325,448
- Tax, wage and social debts +€69,362
up €69,362 (+164%), from €42,290 to €111,652
of which Taxes: +€74,006
- Gross operating margin -€250,360
down €250,360 (-21.5%), from €1.2m to €916,552
- Taxes -€39,732
down €39,732 (-13.2%), from €300,554 to €260,821
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 | €3,299,127 | €3,847,906 | +€548,779 | +16.6% |
| Fixed assets | 21/28 | €537,625 | €1,173,243 | +€635,618 | +118% |
| Tangible fixed assets | 22/27 | €537,625 | €1,173,243 | +€635,618 | +118% |
| Plant, machinery and equipment | 23 | €17,737 | €16,031 | -€1,706 | -9.6% |
| Furniture and vehicles | 24 | €504,466 | €1,145,283 | +€640,817 | +127% |
| Other tangible fixed assets | 26 | €15,422 | €11,930 | -€3,492 | -22.6% |
| Current assets | 29/58 | €2,761,502 | €2,674,663 | -€86,839 | -3.1% |
| Stocks and contracts in progress | 3 | €353,649 | €48,649 | -€305,000 | -86.2% |
| Stocks | 30/36 | €58,649 | €48,649 | -€10,000 | -17.1% |
| Contracts in progress | 37 | €295,000 | - | -€295,000 | |
| Amounts receivable within one year | 40/41 | €321,869 | €323,955 | +€2,085 | +0.6% |
| Trade receivables | 40 | €104,369 | €30,716 | -€73,654 | -70.6% |
| Other amounts receivable | 41 | €217,500 | €293,239 | +€75,739 | +34.8% |
| Current investments | 50/53 | €101,686 | €101,686 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €1,971,146 | €2,200,373 | +€229,227 | +11.6% |
| Deferred charges and accrued income | 490/1 | €13,152 | - | -€13,152 | |
| Total equity and liabilities | 10/49 | €3,299,127 | €3,847,906 | +€548,779 | +16.6% |
| Equity | 10/15 | €2,072,052 | €2,225,542 | +€153,490 | +7.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,968,622 | €2,122,112 | +€153,490 | +7.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €391,709 | €380,422 | -€11,286 | -2.9% |
| Distributable reserves | 133 | €1,576,913 | €1,741,689 | +€164,776 | +10.4% |
| Profit (loss) carried forward | 14 | €91,031 | €91,031 | = | 0.0% |
| Provisions and deferred taxes | 16 | €11,286 | €7,524 | -€3,762 | -33.3% |
| Deferred taxes | 168 | €11,286 | €7,524 | -€3,762 | -33.3% |
| Amounts payable | 17/49 | €1,215,789 | €1,614,840 | +€399,051 | +32.8% |
| Amounts payable within one year | 42/48 | €1,215,789 | €1,614,840 | +€399,051 | +32.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €441,954 | €325,448 | -€116,506 | -26.4% |
| Suppliers | 440/4 | €441,954 | €325,448 | -€116,506 | -26.4% |
| Advances received on contracts in progress | 46 | €650,000 | €790,275 | +€140,275 | +21.6% |
| Taxes, remuneration and social security | 45 | €42,290 | €111,652 | +€69,362 | +164% |
| Taxes | 450/3 | €37,646 | €111,652 | +€74,006 | +197% |
| Remuneration and social security | 454/9 | €4,644 | - | -€4,644 | |
| Other amounts payable | 47/48 | €81,545 | €387,465 | +€305,920 | +375% |
| Non-recurring operating income | 76A | €25,792 | - | -€25,792 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,232 | €118,663 | +€11,431 | +10.7% |
| Other operating charges | 640/8 | €3,432 | €11,186 | +€7,754 | +226% |
| Gross operating margin | 9900 | €1,166,911 | €916,552 | -€250,360 | -21.5% |
| Operating profit (loss) | 9901 | €1,056,248 | €786,702 | -€269,545 | -25.5% |
| Financial income | 75/76B | €5,518 | €11,884 | +€6,366 | +115% |
| Recurring financial income | 75 | €5,518 | €11,884 | +€6,366 | +115% |
| Financial charges | 65/66B | €10,310 | €17,499 | +€7,190 | +69.7% |
| Recurring financial charges | 65 | €10,310 | €17,499 | +€7,190 | +69.7% |
| Profit (loss) for the period before taxes | 9903 | €1,051,456 | €781,088 | -€270,369 | -25.7% |
| Transfer from deferred taxes | 780 | €3,762 | €3,762 | = | 0.0% |
| Income taxes | 67/77 | €300,554 | €260,821 | -€39,732 | -13.2% |
| Profit (loss) for the period | 9904 | €754,664 | €524,028 | -€230,636 | -30.6% |
| Transfer from tax-exempt reserves | 789 | €11,286 | €11,286 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €357,850 | - | -€357,850 | |
| Profit (loss) for the period to be appropriated | 9905 | €408,100 | €535,314 | +€127,214 | +31.2% |
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 13 October 2026 via checked.be.