DEDEYNE MICHAEL: 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.
DEDEYNE MICHAEL
Largest movements
- Cash +€94,143
up €94,143 (+489%), from €19,236 to €113,380
mainly Other debts (+€91,165) and Current investments (+€75,000)
- Current investments -€75,000
down €75,000 (-100%), from €75,000 to €0
- Receivables within one year -€20,807
down €20,807 (-18.8%), from €110,888 to €90,081
of which Trade receivables: -€24,045
- Tangible fixed assets -€17,101
down €17,101 (-6.5%), from €261,689 to €244,588
of which Plant, machinery and equipment: -€18,531
- Reserves -€170,900
down €170,900 (-66.3%), from €257,674 to €86,774
- Other debts +€91,165
up €91,165, from €0 to €91,165
- Trade debts +€44,186
up €44,186 (+157%), from €28,123 to €72,309
- Current portion of long-term debt +€8,225
up €8,225 (+42.1%), from €19,557 to €27,782
- Gross operating margin -€32,002
down €32,002 (-27.3%), from €117,075 to €85,073
- Taxes -€8,988
down €8,988 (-46.4%), from €19,363 to €10,375
- Depreciation +€8,826
up €8,826 (+44.2%), from €19,973 to €28,799
- Financial charges +€2,356
up €2,356 (+41.0%), from €5,742 to €8,098
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 | €473,534 | €450,419 | -€23,115 | -4.9% |
| Fixed assets | 21/28 | €264,059 | €246,958 | -€17,101 | -6.5% |
| Tangible fixed assets | 22/27 | €261,689 | €244,588 | -€17,101 | -6.5% |
| Land and buildings | 22 | €217,765 | €208,030 | -€9,735 | -4.5% |
| Plant, machinery and equipment | 23 | €43,924 | €25,393 | -€18,531 | -42.2% |
| Other tangible fixed assets | 26 | - | €11,165 | +€11,165 | |
| Financial fixed assets | 28 | €2,370 | €2,370 | = | 0.0% |
| Current assets | 29/58 | €209,475 | €203,461 | -€6,014 | -2.9% |
| Amounts receivable within one year | 40/41 | €110,888 | €90,081 | -€20,807 | -18.8% |
| Trade receivables | 40 | €104,086 | €80,041 | -€24,045 | -23.1% |
| Other amounts receivable | 41 | €6,802 | €10,040 | +€3,238 | +47.6% |
| Current investments | 50/53 | €75,000 | €0 | -€75,000 | -100% |
| Cash at bank and in hand | 54/58 | €19,236 | €113,380 | +€94,143 | +489% |
| Deferred charges and accrued income | 490/1 | €4,351 | €0 | -€4,351 | -100% |
| Total equity and liabilities | 10/49 | €473,534 | €450,419 | -€23,115 | -4.9% |
| Equity | 10/15 | €258,174 | €87,274 | -€170,900 | -66.2% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €257,674 | €86,774 | -€170,900 | -66.3% |
| Distributable reserves | 133 | €257,674 | €86,774 | -€170,900 | -66.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €215,360 | €363,145 | +€147,785 | +68.6% |
| Amounts payable after more than one year | 17 | €161,876 | €162,393 | +€517 | +0.3% |
| Financial debts | 170/4 | €161,876 | €159,963 | -€1,913 | -1.2% |
| Other amounts payable | 178/9 | - | €2,430 | +€2,430 | |
| Amounts payable within one year | 42/48 | €52,611 | €200,218 | +€147,607 | +281% |
| Current portion of amounts payable after more than one year | 42 | €19,557 | €27,782 | +€8,225 | +42.1% |
| Trade debts | 44 | €28,123 | €72,309 | +€44,186 | +157% |
| Suppliers | 440/4 | €28,123 | €72,309 | +€44,186 | +157% |
| Advances received on contracts in progress | 46 | €367 | €0 | -€367 | -100% |
| Taxes, remuneration and social security | 45 | €4,564 | €8,962 | +€4,398 | +96.4% |
| Taxes | 450/3 | €4,244 | €8,962 | +€4,718 | +111% |
| Remuneration and social security | 454/9 | €320 | - | -€320 | |
| Other amounts payable | 47/48 | €0 | €91,165 | +€91,165 | |
| Accrued charges and deferred income | 492/3 | €873 | €534 | -€339 | -38.8% |
| Non-recurring operating income | 76A | - | €358 | +€358 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,973 | €28,799 | +€8,826 | +44.2% |
| Other operating charges | 640/8 | €305 | €823 | +€518 | +170% |
| Gross operating margin | 9900 | €117,075 | €85,073 | -€32,002 | -27.3% |
| Operating profit (loss) | 9901 | €96,797 | €55,451 | -€41,346 | -42.7% |
| Financial income | 75/76B | €2,003 | €2,122 | +€119 | +5.9% |
| Recurring financial income | 75 | €2,003 | €2,122 | +€119 | +5.9% |
| Financial charges | 65/66B | €5,742 | €8,098 | +€2,356 | +41.0% |
| Recurring financial charges | 65 | €5,742 | €8,098 | +€2,356 | +41.0% |
| Profit (loss) for the period before taxes | 9903 | €93,057 | €49,475 | -€43,583 | -46.8% |
| Income taxes | 67/77 | €19,363 | €10,375 | -€8,988 | -46.4% |
| Profit (loss) for the period | 9904 | €73,695 | €39,100 | -€34,595 | -46.9% |
| Profit (loss) for the period to be appropriated | 9905 | €73,695 | €39,100 | -€34,595 | -46.9% |
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 20 October 2026 via checked.be.