DEG: 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.
DEG
Largest movements
- Receivables within one year -€28,905
no longer reported in 2025 (was €28,905)
- Tangible fixed assets -€14,567
down €14,567 (-5.2%), from €282,037 to €267,470
of which Land and buildings: -€11,320
- Debts after one year -€16,494
down €16,494 (-11.3%), from €146,327 to €129,833
- Trade debts -€14,585
down €14,585 (-54.5%), from €26,771 to €12,186
- Profit (loss) carried forward -€8,547
down €8,547, from €1,910 to -€6,636
- Other debts -€5,642
down €5,642 (-8.0%), from €70,881 to €65,239
- Gross operating margin -€10,650
down €10,650 (-50.2%), from €21,208 to €10,558
- Taxes +€471
up €471, from -€166 to €306
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 | €361,978 | €316,314 | -€45,664 | -12.6% |
| Fixed assets | 21/28 | €282,037 | €267,470 | -€14,567 | -5.2% |
| Tangible fixed assets | 22/27 | €282,037 | €267,470 | -€14,567 | -5.2% |
| Land and buildings | 22 | €272,911 | €261,590 | -€11,320 | -4.1% |
| Furniture and vehicles | 24 | €9,126 | €5,879 | -€3,247 | -35.6% |
| Current assets | 29/58 | €79,941 | €48,844 | -€31,097 | -38.9% |
| Stocks and contracts in progress | 3 | €14,933 | €11,333 | -€3,600 | -24.1% |
| Stocks | 30/36 | €14,933 | €11,333 | -€3,600 | -24.1% |
| Amounts receivable within one year | 40/41 | €28,905 | - | -€28,905 | |
| Trade receivables | 40 | €28,905 | - | -€28,905 | |
| Cash at bank and in hand | 54/58 | €23,486 | €24,235 | +€748 | +3.2% |
| Deferred charges and accrued income | 490/1 | €12,616 | €13,276 | +€660 | +5.2% |
| Total equity and liabilities | 10/49 | €361,978 | €316,314 | -€45,664 | -12.6% |
| Equity | 10/15 | €98,243 | €89,697 | -€8,547 | -8.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €77,733 | €77,733 | = | 0.0% |
| Distributable reserves | 133 | €77,733 | €77,733 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,910 | -€6,636 | -€8,547 | |
| Amounts payable | 17/49 | €263,735 | €226,617 | -€37,117 | -14.1% |
| Amounts payable after more than one year | 17 | €146,327 | €129,833 | -€16,494 | -11.3% |
| Financial debts | 170/4 | €146,327 | €129,833 | -€16,494 | -11.3% |
| Amounts payable within one year | 42/48 | €117,408 | €96,784 | -€20,624 | -17.6% |
| Current portion of amounts payable after more than one year | 42 | €16,307 | €16,400 | +€94 | +0.6% |
| Trade debts | 44 | €26,771 | €12,186 | -€14,585 | -54.5% |
| Suppliers | 440/4 | €26,771 | €12,186 | -€14,585 | -54.5% |
| Taxes, remuneration and social security | 45 | €3,449 | €2,959 | -€490 | -14.2% |
| Taxes | 450/3 | €3,449 | €2,959 | -€490 | -14.2% |
| Other amounts payable | 47/48 | €70,881 | €65,239 | -€5,642 | -8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,567 | €14,567 | = | 0.0% |
| Other operating charges | 640/8 | €1,366 | €1,410 | +€44 | +3.2% |
| Gross operating margin | 9900 | €21,208 | €10,558 | -€10,650 | -50.2% |
| Operating profit (loss) | 9901 | €5,275 | -€5,420 | -€10,694 | |
| Financial income | 75/76B | €0 | €66 | +€66 | +331500.0% |
| Recurring financial income | 75 | €0 | €66 | +€66 | +331500.0% |
| Financial charges | 65/66B | €2,943 | €2,888 | -€55 | -1.9% |
| Recurring financial charges | 65 | €2,943 | €2,888 | -€55 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €2,332 | -€8,241 | -€10,573 | |
| Income taxes | 67/77 | -€166 | €306 | +€471 | |
| Profit (loss) for the period | 9904 | €2,498 | -€8,547 | -€11,044 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,498 | -€8,547 | -€11,044 |
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.