DEGRE 12: 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.
DEGRE 12
Largest movements
- Receivables within one year +€370,371
up €370,371 (+112.2%), from €329,990 to €700,361
of which Other amounts receivable: +€305,754
- Cash -€306,245
down €306,245 (-98.0%), from €312,352 to €6,107
mainly Receivables within one year (-€370,371) and Accrued charges and deferred income (-€159,331)
- Accrued charges and deferred income -€159,331
down €159,331 (-78.4%), from €203,306 to €43,975
- Other debts +€143,070
new in 2025: €143,070
- Trade debts +€38,504
up €38,504 (+28.8%), from €133,688 to €172,191
- Tax, wage and social debts +€20,676
up €20,676 (+114.6%), from €18,046 to €38,722
of which Taxes: +€17,106
- Reserves +€20,000
up €20,000 (+12.3%), from €162,859 to €182,859
of which Distributable reserves: +€20,000
- Gross operating margin +€10,654
up €10,654 (+5.5%), from €194,812 to €205,466
- Staff costs +€10,600
up €10,600 (+6.8%), from €156,482 to €167,082
- Taxes +€2,890
up €2,890 (+22.6%), from €12,802 to €15,692
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 | €844,054 | €905,157 | +€61,103 | +7.2% |
| Fixed assets | 21/28 | €154,143 | €151,781 | -€2,362 | -1.5% |
| Tangible fixed assets | 22/27 | €8,743 | €6,381 | -€2,362 | -27.0% |
| Land and buildings | 22 | €3,052 | €3,052 | = | 0.0% |
| Plant, machinery and equipment | 23 | €395 | €29 | -€366 | -92.7% |
| Furniture and vehicles | 24 | €4,987 | €3,300 | -€1,687 | -33.8% |
| Other tangible fixed assets | 26 | €309 | - | -€309 | |
| Financial fixed assets | 28 | €145,400 | €145,400 | = | 0.0% |
| Current assets | 29/58 | €689,911 | €753,376 | +€63,465 | +9.2% |
| Stocks and contracts in progress | 3 | €33,101 | €30,304 | -€2,797 | -8.4% |
| Stocks | 30/36 | €33,101 | €30,304 | -€2,797 | -8.4% |
| Amounts receivable within one year | 40/41 | €329,990 | €700,361 | +€370,371 | +112.2% |
| Trade receivables | 40 | €88,110 | €152,727 | +€64,617 | +73.3% |
| Other amounts receivable | 41 | €241,880 | €547,633 | +€305,754 | +126.4% |
| Cash at bank and in hand | 54/58 | €312,352 | €6,107 | -€306,245 | -98.0% |
| Deferred charges and accrued income | 490/1 | €14,468 | €16,604 | +€2,136 | +14.8% |
| Total equity and liabilities | 10/49 | €844,054 | €905,157 | +€61,103 | +7.2% |
| Equity | 10/15 | €489,015 | €507,198 | +€18,183 | +3.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €162,859 | €182,859 | +€20,000 | +12.3% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €161,000 | €181,000 | +€20,000 | +12.4% |
| Profit (loss) carried forward | 14 | €307,564 | €305,747 | -€1,817 | -0.6% |
| Amounts payable | 17/49 | €355,039 | €397,958 | +€42,919 | +12.1% |
| Amounts payable within one year | 42/48 | €151,733 | €353,984 | +€202,250 | +133.3% |
| Trade debts | 44 | €133,688 | €172,191 | +€38,504 | +28.8% |
| Suppliers | 440/4 | €133,688 | €172,191 | +€38,504 | +28.8% |
| Taxes, remuneration and social security | 45 | €18,046 | €38,722 | +€20,676 | +114.6% |
| Taxes | 450/3 | - | €17,106 | +€17,106 | |
| Remuneration and social security | 454/9 | €18,046 | €21,616 | +€3,570 | +19.8% |
| Other amounts payable | 47/48 | - | €143,070 | +€143,070 | |
| Accrued charges and deferred income | 492/3 | €203,306 | €43,975 | -€159,331 | -78.4% |
| Remuneration, social security and pensions | 62 | €156,482 | €167,082 | +€10,600 | +6.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,975 | €3,371 | -€1,603 | -32.2% |
| Other operating charges | 640/8 | €2,108 | €2,167 | +€59 | +2.8% |
| Gross operating margin | 9900 | €194,812 | €205,466 | +€10,654 | +5.5% |
| Operating profit (loss) | 9901 | €31,248 | €32,846 | +€1,598 | +5.1% |
| Financial income | 75/76B | €1,817 | €2,566 | +€749 | +41.2% |
| Recurring financial income | 75 | €1,817 | €2,566 | +€749 | +41.2% |
| Financial charges | 65/66B | €398 | €1,536 | +€1,138 | +285.7% |
| Recurring financial charges | 65 | €398 | €1,536 | +€1,138 | +285.7% |
| Profit (loss) for the period before taxes | 9903 | €32,666 | €33,875 | +€1,209 | +3.7% |
| Income taxes | 67/77 | €12,802 | €15,692 | +€2,890 | +22.6% |
| Profit (loss) for the period | 9904 | €19,864 | €18,183 | -€1,681 | -8.5% |
| Profit (loss) for the period to be appropriated | 9905 | €19,864 | €18,183 | -€1,681 | -8.5% |
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 10 October 2026 via checked.be.