DEDERICHS-FENSTER: 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.
DEDERICHS-FENSTER
Largest movements
- Tangible fixed assets +€137,374
up €137,374 (+302%), from €45,510 to €182,884
of which Furniture and vehicles: +€133,624
- Current investments -€100,000
down €100,000 (-20.0%), from €500,000 to €400,000
- Receivables within one year -€23,574
down €23,574 (-29.8%), from €79,104 to €55,530
of which Trade receivables: -€20,378
- Stocks and contracts +€12,323
up €12,323 (+24.0%), from €51,274 to €63,598
- Reserves +€63,000
up €63,000 (+10.0%), from €629,500 to €692,500
- Other debts -€52,650
down €52,650 (-34.5%), from €152,400 to €99,750
- Trade debts +€21,734
up €21,734 (+945%), from €2,299 to €24,033
- Gross operating margin +€30,902
up €30,902 (+9.3%), from €330,548 to €361,450
- Depreciation +€17,113
up €17,113 (+150%), from €11,402 to €28,515
- Staff costs -€10,655
down €10,655 (-9.2%), from €115,837 to €105,182
- Write-downs -€5,135
no longer reported in 2025 (was €5,135)
- Taxes +€4,802
up €4,802 (+7.0%), from €68,690 to €73,492
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 | €935,261 | €966,310 | +€31,050 | +3.3% |
| Fixed assets | 21/28 | €45,510 | €182,884 | +€137,374 | +302% |
| Tangible fixed assets | 22/27 | €45,510 | €182,884 | +€137,374 | +302% |
| Land and buildings | 22 | €9,860 | €7,975 | -€1,885 | -19.1% |
| Plant, machinery and equipment | 23 | €1,433 | €7,068 | +€5,635 | +393% |
| Furniture and vehicles | 24 | €34,218 | €167,842 | +€133,624 | +391% |
| Current assets | 29/58 | €889,750 | €783,426 | -€106,325 | -11.9% |
| Stocks and contracts in progress | 3 | €51,274 | €63,598 | +€12,323 | +24.0% |
| Stocks | 30/36 | €51,274 | €63,598 | +€12,323 | +24.0% |
| Amounts receivable within one year | 40/41 | €79,104 | €55,530 | -€23,574 | -29.8% |
| Trade receivables | 40 | €69,772 | €49,394 | -€20,378 | -29.2% |
| Other amounts receivable | 41 | €9,332 | €6,136 | -€3,196 | -34.2% |
| Current investments | 50/53 | €500,000 | €400,000 | -€100,000 | -20.0% |
| Cash at bank and in hand | 54/58 | €253,361 | €256,353 | +€2,992 | +1.2% |
| Deferred charges and accrued income | 490/1 | €6,011 | €7,945 | +€1,934 | +32.2% |
| Total equity and liabilities | 10/49 | €935,261 | €966,310 | +€31,050 | +3.3% |
| Equity | 10/15 | €739,427 | €803,032 | +€63,604 | +8.6% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €629,500 | €692,500 | +€63,000 | +10.0% |
| Distributable reserves | 133 | €629,500 | €692,500 | +€63,000 | +10.0% |
| Profit (loss) carried forward | 14 | €84,927 | €85,532 | +€604 | +0.7% |
| Provisions and deferred taxes | 16 | €2,000 | €2,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €2,000 | €2,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €2,000 | €2,000 | = | 0.0% |
| Amounts payable | 17/49 | €193,833 | €161,279 | -€32,555 | -16.8% |
| Amounts payable within one year | 42/48 | €193,833 | €161,279 | -€32,555 | -16.8% |
| Trade debts | 44 | €2,299 | €24,033 | +€21,734 | +945% |
| Suppliers | 440/4 | €2,299 | €24,033 | +€21,734 | +945% |
| Taxes, remuneration and social security | 45 | €39,134 | €37,496 | -€1,639 | -4.2% |
| Taxes | 450/3 | €39,134 | €37,496 | -€1,639 | -4.2% |
| Other amounts payable | 47/48 | €152,400 | €99,750 | -€52,650 | -34.5% |
| Remuneration, social security and pensions | 62 | €115,837 | €105,182 | -€10,655 | -9.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,402 | €28,515 | +€17,113 | +150% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,135 | - | -€5,135 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | €0 | = | |
| Other operating charges | 640/8 | €9,105 | €12,461 | +€3,356 | +36.9% |
| Gross operating margin | 9900 | €330,548 | €361,450 | +€30,902 | +9.3% |
| Operating profit (loss) | 9901 | €189,070 | €215,292 | +€26,222 | +13.9% |
| Financial income | 75/76B | €27,600 | €26,886 | -€714 | -2.6% |
| Recurring financial income | 75 | €27,600 | €26,886 | -€714 | -2.6% |
| Financial charges | 65/66B | €82 | €82 | +€0 | +0.1% |
| Recurring financial charges | 65 | €82 | €82 | +€0 | +0.1% |
| Profit (loss) for the period before taxes | 9903 | €216,587 | €242,096 | +€25,509 | +11.8% |
| Income taxes | 67/77 | €68,690 | €73,492 | +€4,802 | +7.0% |
| Profit (loss) for the period | 9904 | €147,897 | €168,604 | +€20,707 | +14.0% |
| Profit (loss) for the period to be appropriated | 9905 | €147,897 | €168,604 | +€20,707 | +14.0% |
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.