DEGRAEN & PARTNERS: what changed
DEGRAEN & PARTNERS
Largest movements
- Stocks and contracts -€54,717
no longer reported in 2025 (was €54,717)
- Receivables within one year -€39,162
down €39,162 (-75.3%), from €52,004 to €12,842
of which Trade receivables: -€37,085
- Tangible fixed assets -€6,838
down €6,838 (-6.8%), from €100,746 to €93,909
of which Furniture and vehicles: -€4,295
- Profit (loss) carried forward -€71,847
down €71,847 (-41.7%), from -€172,300 to -€244,148
- Trade debts -€22,648
down €22,648 (-57.2%), from €39,560 to €16,912
- Debts after one year -€11,958
no longer reported in 2025 (was €11,958)
- Other debts +€7,272
up €7,272 (+7.5%), from €96,500 to €103,772
- Gross operating margin -€38,561
down €38,561 (-379%), from -€10,187 to -€48,748
- Staff costs -€11,931
down €11,931 (-97.3%), from €12,258 to €326
- Other operating charges +€3,853
up €3,853 (+34.1%), from €11,300 to €15,153
- Depreciation -€2,057
down €2,057 (-24.8%), from €8,294 to €6,238
- Financial charges -€769
down €769 (-35.7%), from €2,154 to €1,386
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €215,035 | €113,405 | -€101,630 | -47.3% |
| Fixed assets | 21/28 | €102,898 | €96,060 | -€6,838 | -6.6% |
| Tangible fixed assets | 22/27 | €100,746 | €93,909 | -€6,838 | -6.8% |
| Land and buildings | 22 | €93,214 | €92,721 | -€494 | -0.5% |
| Plant, machinery and equipment | 23 | €2,171 | €122 | -€2,049 | -94.4% |
| Furniture and vehicles | 24 | €5,361 | €1,066 | -€4,295 | -80.1% |
| Financial fixed assets | 28 | €2,151 | €2,151 | = | 0.0% |
| Current assets | 29/58 | €112,138 | €17,345 | -€94,792 | -84.5% |
| Stocks and contracts in progress | 3 | €54,717 | - | -€54,717 | |
| Stocks | 30/36 | €54,717 | - | -€54,717 | |
| Amounts receivable within one year | 40/41 | €52,004 | €12,842 | -€39,162 | -75.3% |
| Trade receivables | 40 | €49,532 | €12,448 | -€37,085 | -74.9% |
| Other amounts receivable | 41 | €2,472 | €394 | -€2,077 | -84.0% |
| Cash at bank and in hand | 54/58 | €5,417 | €4,503 | -€913 | -16.9% |
| Total equity and liabilities | 10/49 | €215,035 | €113,405 | -€101,630 | -47.3% |
| Equity | 10/15 | €52,611 | -€19,236 | -€71,847 | |
| Contributions | 10/11 | €223,052 | €223,052 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€172,300 | -€244,148 | -€71,847 | -41.7% |
| Amounts payable | 17/49 | €162,424 | €132,642 | -€29,782 | -18.3% |
| Amounts payable after more than one year | 17 | €11,958 | - | -€11,958 | |
| Financial debts | 170/4 | €11,958 | - | -€11,958 | |
| Amounts payable within one year | 42/48 | €150,466 | €132,642 | -€17,825 | -11.8% |
| Current portion of amounts payable after more than one year | 42 | €12,832 | €11,958 | -€874 | -6.8% |
| Trade debts | 44 | €39,560 | €16,912 | -€22,648 | -57.2% |
| Suppliers | 440/4 | €39,560 | €16,912 | -€22,648 | -57.2% |
| Taxes, remuneration and social security | 45 | €1,575 | - | -€1,575 | |
| Remuneration and social security | 454/9 | €1,575 | - | -€1,575 | |
| Other amounts payable | 47/48 | €96,500 | €103,772 | +€7,272 | +7.5% |
| Remuneration, social security and pensions | 62 | €12,258 | €326 | -€11,931 | -97.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,294 | €6,238 | -€2,057 | -24.8% |
| Other operating charges | 640/8 | €11,300 | €15,153 | +€3,853 | +34.1% |
| Gross operating margin | 9900 | -€10,187 | -€48,748 | -€38,561 | -379% |
| Operating profit (loss) | 9901 | -€42,040 | -€70,466 | -€28,426 | -67.6% |
| Financial income | 75/76B | €131 | €6 | -€125 | -95.5% |
| Recurring financial income | 75 | €131 | €6 | -€125 | -95.5% |
| Financial charges | 65/66B | €2,154 | €1,386 | -€769 | -35.7% |
| Recurring financial charges | 65 | €2,154 | €1,386 | -€769 | -35.7% |
| Profit (loss) for the period before taxes | 9903 | -€44,063 | -€71,846 | -€27,783 | -63.1% |
| Income taxes | 67/77 | - | €2 | +€2 | |
| Profit (loss) for the period | 9904 | -€44,063 | -€71,847 | -€27,784 | -63.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€44,063 | -€71,847 | -€27,784 | -63.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.