Declercq: 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.
Declercq
Largest movements
- Receivables within one year -€57,001
no longer reported in 2025 (was €57,001)
of which Trade receivables: -€57,000
- Tangible fixed assets -€13,131
down €13,131 (-4.3%), from €307,131 to €294,000
of which Land and buildings: -€9,939
- Cash -€11,112
down €11,112 (-48.9%), from €22,739 to €11,627
mainly Other debts (-€40,000) and Trade debts (-€25,173)
- Reserves -€137,158
down €137,158 (-87.3%), from €157,201 to €20,043
of which Distributable reserves: -€137,158
- Profit (loss) carried forward +€118,824
up €118,824 (+65.9%), from -€180,328 to -€61,504
- Other debts -€40,000
down €40,000 (-17.2%), from €232,797 to €192,797
- Trade debts -€25,173
down €25,173 (-100.0%), from €25,175 to €2
- Accrued charges and deferred income +€8,595
up €8,595 (+208%), from €4,126 to €12,720
- Gross operating margin -€30,805
down €30,805 (-78.1%), from €39,425 to €8,620
- Depreciation +€5,317
up €5,317 (+68.0%), from €7,814 to €13,131
- Financial charges +€4,798
up €4,798 (+83.5%), from €5,745 to €10,543
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 | €394,558 | €311,928 | -€82,629 | -20.9% |
| Fixed assets | 21/28 | €307,131 | €294,000 | -€13,131 | -4.3% |
| Tangible fixed assets | 22/27 | €307,131 | €294,000 | -€13,131 | -4.3% |
| Land and buildings | 22 | €295,563 | €285,624 | -€9,939 | -3.4% |
| Plant, machinery and equipment | 23 | €965 | €173 | -€792 | -82.0% |
| Furniture and vehicles | 24 | €10,603 | €8,203 | -€2,400 | -22.6% |
| Current assets | 29/58 | €87,426 | €17,928 | -€69,498 | -79.5% |
| Amounts receivable within one year | 40/41 | €57,001 | - | -€57,001 | |
| Trade receivables | 40 | €57,000 | - | -€57,000 | |
| Other amounts receivable | 41 | €1 | - | -€1 | |
| Cash at bank and in hand | 54/58 | €22,739 | €11,627 | -€11,112 | -48.9% |
| Deferred charges and accrued income | 490/1 | €7,686 | €6,301 | -€1,385 | -18.0% |
| Total equity and liabilities | 10/49 | €394,558 | €311,928 | -€82,629 | -20.9% |
| Equity | 10/15 | €68,841 | €50,507 | -€18,334 | -26.6% |
| Contributions | 10/11 | €49,579 | €49,579 | = | 0.0% |
| Revaluation surpluses | 12 | €42,390 | €42,390 | = | 0.0% |
| Reserves | 13 | €157,201 | €20,043 | -€137,158 | -87.3% |
| Tax-exempt reserves | 132 | €20,043 | €20,043 | = | 0.0% |
| Distributable reserves | 133 | €137,158 | - | -€137,158 | |
| Profit (loss) carried forward | 14 | -€180,328 | -€61,504 | +€118,824 | +65.9% |
| Amounts payable | 17/49 | €325,716 | €261,421 | -€64,296 | -19.7% |
| Amounts payable after more than one year | 17 | €55,289 | €47,575 | -€7,715 | -14.0% |
| Financial debts | 170/4 | €55,289 | €47,575 | -€7,715 | -14.0% |
| Amounts payable within one year | 42/48 | €266,301 | €201,126 | -€65,176 | -24.5% |
| Current portion of amounts payable after more than one year | 42 | €7,715 | €7,715 | = | 0.0% |
| Trade debts | 44 | €25,175 | €2 | -€25,173 | -100.0% |
| Suppliers | 440/4 | €25,175 | €2 | -€25,173 | -100.0% |
| Taxes, remuneration and social security | 45 | €615 | €613 | -€3 | -0.4% |
| Taxes | 450/3 | €615 | €613 | -€3 | -0.4% |
| Other amounts payable | 47/48 | €232,797 | €192,797 | -€40,000 | -17.2% |
| Accrued charges and deferred income | 492/3 | €4,126 | €12,720 | +€8,595 | +208% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,814 | €13,131 | +€5,317 | +68.0% |
| Other operating charges | 640/8 | €3,466 | €3,282 | -€184 | -5.3% |
| Gross operating margin | 9900 | €39,425 | €8,620 | -€30,805 | -78.1% |
| Operating profit (loss) | 9901 | €28,145 | -€7,793 | -€35,938 | |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €5,745 | €10,543 | +€4,798 | +83.5% |
| Recurring financial charges | 65 | €5,745 | €10,543 | +€4,798 | +83.5% |
| Profit (loss) for the period before taxes | 9903 | €22,399 | -€18,334 | -€40,733 | |
| Profit (loss) for the period | 9904 | €22,399 | -€18,334 | -€40,733 | |
| Profit (loss) for the period to be appropriated | 9905 | €22,399 | -€18,334 | -€40,733 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.