Decruyenaere: 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.
What changed
Decruyenaere
NACE 47.721, Retail sale of footwear
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€361,873
2024 · -€366,125+€4,251
Equity
€1.1m
2024 · €1.4m-€361,873
Cash
€64,577
2024 · €73,399-€8,822
Balance sheet total
€3.5m
2024 · €3.9m-€356,931
Largest movements
Assets
- Tangible fixed assets -€286,809
down €286,809 (-9.6%), from €3.0m to €2.7m
of which Land and buildings: -€273,541
- Stocks and contracts -€51,180
down €51,180 (-6.3%), from €807,074 to €755,894
Equity and liabilities
- Reserves -€361,873
down €361,873 (-27.8%), from €1.3m to €938,621
of which Distributable reserves: -€361,873
- Debts after one year -€251,523
down €251,523 (-15.8%), from €1.6m to €1.3m
- Other debts +€238,218
up €238,218 (+143%), from €166,742 to €404,960
- Short-term financial debts +€111,139
up €111,139 (+110%), from €101,077 to €212,216
- Trade debts -€81,622
down €81,622 (-52.6%), from €155,056 to €73,434
Income statement
- Financial charges -€9,921
down €9,921 (-12.3%), from €80,569 to €70,649
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.
Result 2024
-€366,125
Gross operating margin
-€584
Staff costs
-€5,720
Depreciation
+€1,114
Other operating charges
-€1,206
Other operating items
+€1,692
Financial income
-€922
Financial charges
+€9,921
Taxes
-€43
Result 2025
-€361,873
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€229,592
Investment
-€77,730
Financing
-€160,683
Cash 2024
€73,399
From operations (derived)
+€229,592
Net result for the year
-€361,873
Depreciation
+€365,889
Stocks and contracts
+€51,180
Receivables within one year
+€4,952
Deferred charges and accrued income
+€3,819
Trade debts
-€81,622
Tax, wage and social debts
+€10,037
Other debts
+€238,218
Accrued charges and deferred income
-€1,007
Investment (derived)
-€77,730
Investment in fixed assets (net)
-€77,730
Financing
-€160,683
Debts after one year
-€251,523
Current portion of long-term debt
-€20,300
Short-term financial debts
+€111,139
Cash 2025
€64,577
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,903,323 | €3,546,392 | -€356,931 | -9.1% |
| Fixed assets | 21/28 | €2,995,446 | €2,707,287 | -€288,158 | -9.6% |
| Intangible fixed assets | 21 | €1,430 | €81 | -€1,349 | -94.3% |
| Tangible fixed assets | 22/27 | €2,991,640 | €2,704,831 | -€286,809 | -9.6% |
| Land and buildings | 22 | €2,561,267 | €2,287,726 | -€273,541 | -10.7% |
| Plant, machinery and equipment | 23 | €134,244 | €133,181 | -€1,063 | -0.8% |
| Furniture and vehicles | 24 | €11,784 | €70,010 | +€58,227 | +494% |
| Other tangible fixed assets | 26 | €284,345 | €213,913 | -€70,432 | -24.8% |
| Financial fixed assets | 28 | €2,375 | €2,375 | = | 0.0% |
| Current assets | 29/58 | €907,877 | €839,104 | -€68,773 | -7.6% |
| Stocks and contracts in progress | 3 | €807,074 | €755,894 | -€51,180 | -6.3% |
| Stocks | 30/36 | €807,074 | €755,894 | -€51,180 | -6.3% |
| Amounts receivable within one year | 40/41 | €12,844 | €7,891 | -€4,952 | -38.6% |
| Trade receivables | 40 | €12,119 | €7,720 | -€4,398 | -36.3% |
| Other amounts receivable | 41 | €725 | €171 | -€554 | -76.4% |
| Cash at bank and in hand | 54/58 | €73,399 | €64,577 | -€8,822 | -12.0% |
| Deferred charges and accrued income | 490/1 | €14,561 | €10,742 | -€3,819 | -26.2% |
| Total equity and liabilities | 10/49 | €3,903,323 | €3,546,392 | -€356,931 | -9.1% |
| Equity | 10/15 | €1,425,494 | €1,063,621 | -€361,873 | -25.4% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €1,300,494 | €938,621 | -€361,873 | -27.8% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Legal reserve | 130 | €12,500 | €12,500 | = | 0.0% |
| Distributable reserves | 133 | €1,287,994 | €926,121 | -€361,873 | -28.1% |
| Amounts payable | 17/49 | €2,477,828 | €2,482,771 | +€4,942 | +0.2% |
| Amounts payable after more than one year | 17 | €1,593,550 | €1,342,027 | -€251,523 | -15.8% |
| Financial debts | 170/4 | €1,593,550 | €1,342,027 | -€251,523 | -15.8% |
| Amounts payable within one year | 42/48 | €880,440 | €1,137,912 | +€257,473 | +29.2% |
| Current portion of amounts payable after more than one year | 42 | €319,173 | €298,873 | -€20,300 | -6.4% |
| Financial debts | 43 | €101,077 | €212,216 | +€111,139 | +110% |
| Credit institutions | 430/8 | €101,077 | €212,216 | +€111,139 | +110% |
| Trade debts | 44 | €155,056 | €73,434 | -€81,622 | -52.6% |
| Suppliers | 440/4 | €155,056 | €73,434 | -€81,622 | -52.6% |
| Taxes, remuneration and social security | 45 | €138,393 | €148,430 | +€10,037 | +7.3% |
| Taxes | 450/3 | €37,533 | €31,403 | -€6,130 | -16.3% |
| Remuneration and social security | 454/9 | €100,860 | €117,027 | +€16,167 | +16.0% |
| Other amounts payable | 47/48 | €166,742 | €404,960 | +€238,218 | +143% |
| Accrued charges and deferred income | 492/3 | €3,839 | €2,832 | -€1,007 | -26.2% |
| Non-recurring operating income | 76A | €17,070 | €20,580 | +€3,510 | +20.6% |
| Remuneration, social security and pensions | 62 | €610,582 | €616,303 | +€5,720 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €367,002 | €365,889 | -€1,114 | -0.3% |
| Other operating charges | 640/8 | €44,405 | €45,611 | +€1,206 | +2.7% |
| Non-recurring operating charges | 66A | €1,692 | €0 | -€1,692 | -100% |
| Gross operating margin | 9900 | €708,096 | €707,512 | -€584 | -0.1% |
| Operating profit (loss) | 9901 | -€315,586 | -€320,291 | -€4,705 | -1.5% |
| Financial income | 75/76B | €30,560 | €29,638 | -€922 | -3.0% |
| Recurring financial income | 75 | €30,560 | €29,638 | -€922 | -3.0% |
| Financial charges | 65/66B | €80,569 | €70,649 | -€9,921 | -12.3% |
| Recurring financial charges | 65 | €80,569 | €70,649 | -€9,921 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | -€365,596 | -€361,301 | +€4,294 | +1.2% |
| Income taxes | 67/77 | €529 | €572 | +€43 | +8.1% |
| Profit (loss) for the period | 9904 | -€366,125 | -€361,873 | +€4,251 | +1.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€366,125 | -€361,873 | +€4,251 | +1.2% |
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 18 October 2026 via checked.be.