DECHERF MARTINE: 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.
DECHERF MARTINE
Largest movements
- Current investments +€143,845
up €143,845 (+136%), from €105,614 to €249,459
- Cash -€126,184
down €126,184 (-64.3%), from €196,187 to €70,003
mainly Current investments (-€143,845) and Contributions, distributions and other (-€61,550)
- Tangible fixed assets -€5,691
down €5,691 (-3.7%), from €152,810 to €147,119
of which Land and buildings: -€6,323
- Reserves +€28,761
up €28,761 (+17.7%), from €162,541 to €191,302
- Other debts -€18,139
down €18,139 (-47.5%), from €38,176 to €20,036
- Tax, wage and social debts +€6,069
up €6,069 (+117%), from €5,205 to €11,274
- Gross operating margin +€41,201
up €41,201 (+33.6%), from €122,480 to €163,681
- Taxes +€11,580
up €11,580 (+39.3%), from €29,467 to €41,047
- Financial charges +€5,966
up €5,966 (+25.9%), from €22,999 to €28,965
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 | €502,132 | €520,295 | +€18,163 | +3.6% |
| Fixed assets | 21/28 | €152,810 | €147,119 | -€5,691 | -3.7% |
| Tangible fixed assets | 22/27 | €152,810 | €147,119 | -€5,691 | -3.7% |
| Land and buildings | 22 | €152,421 | €146,098 | -€6,323 | -4.1% |
| Plant, machinery and equipment | 23 | €326 | €29 | -€297 | -91.2% |
| Furniture and vehicles | 24 | €63 | €992 | +€929 | +1,466% |
| Current assets | 29/58 | €349,323 | €373,176 | +€23,853 | +6.8% |
| Amounts receivable within one year | 40/41 | €47,522 | €49,305 | +€1,783 | +3.8% |
| Trade receivables | 40 | €41,883 | €40,707 | -€1,176 | -2.8% |
| Other amounts receivable | 41 | €5,639 | €8,598 | +€2,959 | +52.5% |
| Current investments | 50/53 | €105,614 | €249,459 | +€143,845 | +136% |
| Cash at bank and in hand | 54/58 | €196,187 | €70,003 | -€126,184 | -64.3% |
| Deferred charges and accrued income | 490/1 | €0 | €4,409 | +€4,409 | |
| Total equity and liabilities | 10/49 | €502,132 | €520,295 | +€18,163 | +3.6% |
| Equity | 10/15 | €168,741 | €197,502 | +€28,761 | +17.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €162,541 | €191,302 | +€28,761 | +17.7% |
| Distributable reserves | 133 | €162,541 | €191,302 | +€28,761 | +17.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €333,391 | €322,793 | -€10,598 | -3.2% |
| Amounts payable after more than one year | 17 | €283,000 | €283,000 | = | 0.0% |
| Financial debts | 170/4 | €283,000 | €283,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €50,391 | €39,793 | -€10,598 | -21.0% |
| Trade debts | 44 | €1,920 | €1,231 | -€689 | -35.9% |
| Suppliers | 440/4 | €1,920 | €1,231 | -€689 | -35.9% |
| Advances received on contracts in progress | 46 | €5,090 | €7,252 | +€2,162 | +42.5% |
| Taxes, remuneration and social security | 45 | €5,205 | €11,274 | +€6,069 | +117% |
| Taxes | 450/3 | €5,205 | €11,274 | +€6,069 | +117% |
| Other amounts payable | 47/48 | €38,176 | €20,036 | -€18,139 | -47.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,020 | €6,750 | -€270 | -3.9% |
| Other operating charges | 640/8 | €2,250 | €3,609 | +€1,358 | +60.4% |
| Gross operating margin | 9900 | €122,480 | €163,681 | +€41,201 | +33.6% |
| Operating profit (loss) | 9901 | €113,209 | €153,323 | +€40,113 | +35.4% |
| Financial income | 75/76B | €5,789 | €7,001 | +€1,212 | +20.9% |
| Recurring financial income | 75 | €5,789 | €7,001 | +€1,212 | +20.9% |
| Financial charges | 65/66B | €22,999 | €28,965 | +€5,966 | +25.9% |
| Recurring financial charges | 65 | €22,999 | €28,965 | +€5,966 | +25.9% |
| Profit (loss) for the period before taxes | 9903 | €95,999 | €131,358 | +€35,360 | +36.8% |
| Income taxes | 67/77 | €29,467 | €41,047 | +€11,580 | +39.3% |
| Profit (loss) for the period | 9904 | €66,531 | €90,311 | +€23,780 | +35.7% |
| Profit (loss) for the period to be appropriated | 9905 | €66,531 | €90,311 | +€23,780 | +35.7% |
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 27 October 2026 via checked.be.