DEERAM: 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.
DEERAM
Largest movements
- Current investments +€150,000
up €150,000 (+100.0%), from €150,000 to €300,000
- Tangible fixed assets -€21,803
down €21,803 (-7.8%), from €277,788 to €255,985
of which Land and buildings: -€22,294
- Cash -€12,894
down €12,894 (-34.5%), from €37,406 to €24,512
mainly Current investments (-€150,000) and Deferred charges and accrued income (-€7,578)
- Deferred charges and accrued income +€7,578
new in 2025: €7,578
- Reserves +€100,953
up €100,953 (+78.1%), from €129,203 to €230,156
of which Distributable reserves: +€96,000
- Trade debts +€7,883
up €7,883 (+714.9%), from €1,103 to €8,986
- Gross operating margin +€30,097
up €30,097 (+25.2%), from €119,254 to €149,351
- Other operating charges +€3,703
up €3,703 (+33.8%), from €10,963 to €14,667
- Financial income +€2,905
up €2,905 (+176.9%), from €1,643 to €4,548
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 | €583,194 | €693,036 | +€109,843 | +18.8% |
| Fixed assets | 21/28 | €277,788 | €255,985 | -€21,803 | -7.8% |
| Tangible fixed assets | 22/27 | €277,788 | €255,985 | -€21,803 | -7.8% |
| Land and buildings | 22 | €277,788 | €255,494 | -€22,294 | -8.0% |
| Furniture and vehicles | 24 | - | €492 | +€492 | |
| Current assets | 29/58 | €305,406 | €437,051 | +€131,645 | +43.1% |
| Stocks and contracts in progress | 3 | €110,087 | €103,287 | -€6,800 | -6.2% |
| Stocks | 30/36 | €110,087 | €103,287 | -€6,800 | -6.2% |
| Amounts receivable within one year | 40/41 | €7,913 | €1,675 | -€6,238 | -78.8% |
| Trade receivables | 40 | €7,419 | €0 | -€7,419 | -100.0% |
| Other amounts receivable | 41 | €493 | €1,675 | +€1,181 | +239.4% |
| Current investments | 50/53 | €150,000 | €300,000 | +€150,000 | +100.0% |
| Cash at bank and in hand | 54/58 | €37,406 | €24,512 | -€12,894 | -34.5% |
| Deferred charges and accrued income | 490/1 | - | €7,578 | +€7,578 | |
| Total equity and liabilities | 10/49 | €583,194 | €693,036 | +€109,843 | +18.8% |
| Equity | 10/15 | €578,937 | €679,672 | +€100,734 | +17.4% |
| Contributions | 10/11 | €449,356 | €449,356 | = | 0.0% |
| Capital | 10 | €449,356 | €449,356 | = | 0.0% |
| Issued capital | 100 | €449,356 | €449,356 | = | 0.0% |
| Reserves | 13 | €129,203 | €230,156 | +€100,953 | +78.1% |
| Non-distributable reserves | 130/1 | €16,203 | €21,156 | +€4,953 | +30.6% |
| Legal reserve | 130 | €16,203 | €21,156 | +€4,953 | +30.6% |
| Distributable reserves | 133 | €113,000 | €209,000 | +€96,000 | +85.0% |
| Profit (loss) carried forward | 14 | €379 | €160 | -€219 | -57.7% |
| Amounts payable | 17/49 | €4,257 | €13,365 | +€9,108 | +214.0% |
| Amounts payable after more than one year | 17 | €450 | €300 | -€150 | -33.3% |
| Other amounts payable | 178/9 | €450 | €300 | -€150 | -33.3% |
| Amounts payable within one year | 42/48 | €2,107 | €10,510 | +€8,403 | +398.9% |
| Trade debts | 44 | €1,103 | €8,986 | +€7,883 | +714.9% |
| Suppliers | 440/4 | €1,103 | €8,986 | +€7,883 | +714.9% |
| Taxes, remuneration and social security | 45 | €1,004 | €1,523 | +€519 | +51.7% |
| Taxes | 450/3 | €1,004 | €1,523 | +€519 | +51.7% |
| Accrued charges and deferred income | 492/3 | €1,700 | €2,555 | +€855 | +50.3% |
| Non-recurring operating income | 76A | - | €29,427 | +€29,427 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,294 | €22,378 | +€83 | +0.4% |
| Other operating charges | 640/8 | €10,963 | €14,667 | +€3,703 | +33.8% |
| Non-recurring operating charges | 66A | €2,988 | €15,832 | +€12,844 | +429.8% |
| Gross operating margin | 9900 | €119,254 | €149,351 | +€30,097 | +25.2% |
| Operating profit (loss) | 9901 | €83,008 | €96,474 | +€13,466 | +16.2% |
| Financial income | 75/76B | €1,643 | €4,548 | +€2,905 | +176.9% |
| Recurring financial income | 75 | €1,643 | €4,548 | +€2,905 | +176.9% |
| Financial charges | 65/66B | €80 | €98 | +€18 | +22.7% |
| Recurring financial charges | 65 | €80 | €98 | +€18 | +22.7% |
| Profit (loss) for the period before taxes | 9903 | €84,570 | €100,924 | +€16,353 | +19.3% |
| Income taxes | 67/77 | €202 | €189 | -€13 | -6.3% |
| Profit (loss) for the period | 9904 | €84,368 | €100,734 | +€16,366 | +19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €84,368 | €100,734 | +€16,366 | +19.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.