Deconinck: what changed
Two fiscal 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.
Deconinck
Largest movements
- Receivables within one year +€66,938
up €66,938 (+15.8%), from €423,478 to €490,416
of which Other amounts receivable: +€50,395
- Cash -€43,718
down €43,718 (-44.9%), from €97,342 to €53,624
mainly Debts after one year (-€400,000) and Tax, wage and social debts (-€72,006)
- Stocks and contracts -€37,133
down €37,133 (-2.9%), from €1.3m to €1.2m
- Tangible fixed assets -€28,356
down €28,356 (-29.8%), from €95,246 to €66,890
- Debts after one year -€400,000
down €400,000 (-80.0%), from €500,000 to €100,000
- Other debts +€382,347
up €382,347 (+53.3%), from €717,293 to €1.1m
- Tax, wage and social debts -€72,006
down €72,006 (-68.2%), from €105,533 to €33,527
of which Taxes: -€66,242
- Trade debts +€23,058
up €23,058 (+215.9%), from €10,680 to €33,739
- Staff costs -€25,912
down €25,912 (-23.4%), from €110,537 to €84,625
- Write-downs +€24,823
up €24,823 (+94.2%), from -€26,344 to -€1,521
- Gross operating margin +€3,844
up €3,844 (+1.8%), from €218,429 to €222,273
- Other operating charges +€2,464
up €2,464 (+5.7%), from €43,329 to €45,793
- Taxes +€2,340
up €2,340 (+85.5%), from €2,736 to €5,076
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.
Cash bridge derived
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 | €1,905,499 | €1,864,398 | -€41,101 | -2.2% |
| Fixed assets | 21/28 | €104,075 | €75,277 | -€28,798 | -27.7% |
| Intangible fixed assets | 21 | €4,155 | €3,712 | -€442 | -10.6% |
| Tangible fixed assets | 22/27 | €95,246 | €66,890 | -€28,356 | -29.8% |
| Land and buildings | 22 | €21,536 | €18,838 | -€2,699 | -12.5% |
| Plant, machinery and equipment | 23 | €41,533 | €29,549 | -€11,984 | -28.9% |
| Furniture and vehicles | 24 | €24,965 | €12,949 | -€12,016 | -48.1% |
| Other tangible fixed assets | 26 | €7,211 | €5,554 | -€1,657 | -23.0% |
| Financial fixed assets | 28 | €4,674 | €4,674 | = | 0.0% |
| Current assets | 29/58 | €1,801,424 | €1,789,121 | -€12,302 | -0.7% |
| Stocks and contracts in progress | 3 | €1,272,826 | €1,235,693 | -€37,133 | -2.9% |
| Stocks | 30/36 | €1,272,826 | €1,235,693 | -€37,133 | -2.9% |
| Amounts receivable within one year | 40/41 | €423,478 | €490,416 | +€66,938 | +15.8% |
| Trade receivables | 40 | €180,189 | €196,732 | +€16,543 | +9.2% |
| Other amounts receivable | 41 | €243,289 | €293,684 | +€50,395 | +20.7% |
| Cash at bank and in hand | 54/58 | €97,342 | €53,624 | -€43,718 | -44.9% |
| Deferred charges and accrued income | 490/1 | €7,778 | €9,388 | +€1,610 | +20.7% |
| Total equity and liabilities | 10/49 | €1,905,499 | €1,864,398 | -€41,101 | -2.2% |
| Equity | 10/15 | €271,992 | €287,845 | +€15,854 | +5.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €266,992 | €282,845 | +€15,854 | +5.9% |
| Distributable reserves | 133 | €266,992 | €282,845 | +€15,854 | +5.9% |
| Amounts payable | 17/49 | €1,633,507 | €1,576,553 | -€56,954 | -3.5% |
| Amounts payable after more than one year | 17 | €500,000 | €100,000 | -€400,000 | -80.0% |
| Financial debts | 170/4 | €500,000 | €100,000 | -€400,000 | -80.0% |
| Amounts payable within one year | 42/48 | €1,133,507 | €1,476,553 | +€343,046 | +30.3% |
| Financial debts | 43 | €300,000 | €309,646 | +€9,646 | +3.2% |
| Credit institutions | 430/8 | €300,000 | €309,646 | +€9,646 | +3.2% |
| Trade debts | 44 | €10,680 | €33,739 | +€23,058 | +215.9% |
| Suppliers | 440/4 | €10,680 | €33,739 | +€23,058 | +215.9% |
| Taxes, remuneration and social security | 45 | €105,533 | €33,527 | -€72,006 | -68.2% |
| Taxes | 450/3 | €90,993 | €24,751 | -€66,242 | -72.8% |
| Remuneration and social security | 454/9 | €14,541 | €8,776 | -€5,765 | -39.6% |
| Other amounts payable | 47/48 | €717,293 | €1,099,640 | +€382,347 | +53.3% |
| Remuneration, social security and pensions | 62 | €110,537 | €84,625 | -€25,912 | -23.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,546 | €36,579 | -€1,966 | -5.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€26,344 | -€1,521 | +€24,823 | +94.2% |
| Other operating charges | 640/8 | €43,329 | €45,793 | +€2,464 | +5.7% |
| Gross operating margin | 9900 | €218,429 | €222,273 | +€3,844 | +1.8% |
| Operating profit (loss) | 9901 | €52,361 | €56,797 | +€4,435 | +8.5% |
| Financial income | 75/76B | €5,238 | €5,349 | +€110 | +2.1% |
| Recurring financial income | 75 | €5,238 | €5,349 | +€110 | +2.1% |
| Financial charges | 65/66B | €42,979 | €41,216 | -€1,763 | -4.1% |
| Recurring financial charges | 65 | €42,979 | €41,216 | -€1,763 | -4.1% |
| Profit (loss) for the period before taxes | 9903 | €14,620 | €20,929 | +€6,309 | +43.2% |
| Income taxes | 67/77 | €2,736 | €5,076 | +€2,340 | +85.5% |
| Profit (loss) for the period | 9904 | €11,885 | €15,854 | +€3,969 | +33.4% |
| Profit (loss) for the period to be appropriated | 9905 | €11,885 | €15,854 | +€3,969 | +33.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.