DEGRIF: 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.
DEGRIF
Largest movements
- Receivables within one year -€188,782
down €188,782 (-55.9%), from €337,839 to €149,057
of which Trade receivables: -€198,812
- Cash +€79,979
up €79,979 (+49.6%), from €161,358 to €241,338
mainly Receivables within one year (+€188,782) and Depreciation (+€9,098)
- Tangible fixed assets -€9,098
down €9,098 (-35.3%), from €25,802 to €16,704
of which Plant, machinery and equipment: -€4,606
- Reserves -€75,000
down €75,000 (-16.8%), from €446,000 to €371,000
of which Distributable reserves: -€75,000
- Accrued charges and deferred income -€36,800
no longer reported in 2026 (was €36,800)
- Gross operating margin +€54,814
up €54,814 (+78.4%), from -€69,885 to -€15,071
- Staff costs +€8,197
up €8,197 (+23.4%), from €35,002 to €43,199
- Financial charges -€1,959
down €1,959 (-16.4%), from €11,913 to €9,954
- Depreciation +€1,117
up €1,117 (+14.0%), from €7,981 to €9,098
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €526,380 | €408,480 | -€117,900 | -22.4% |
| Fixed assets | 21/28 | €27,183 | €18,085 | -€9,098 | -33.5% |
| Tangible fixed assets | 22/27 | €25,802 | €16,704 | -€9,098 | -35.3% |
| Plant, machinery and equipment | 23 | €17,380 | €12,774 | -€4,606 | -26.5% |
| Furniture and vehicles | 24 | €8,422 | €3,930 | -€4,492 | -53.3% |
| Financial fixed assets | 28 | €1,381 | €1,381 | = | 0.0% |
| Current assets | 29/58 | €499,198 | €390,395 | -€108,803 | -21.8% |
| Amounts receivable within one year | 40/41 | €337,839 | €149,057 | -€188,782 | -55.9% |
| Trade receivables | 40 | €291,175 | €92,363 | -€198,812 | -68.3% |
| Other amounts receivable | 41 | €46,664 | €56,694 | +€10,030 | +21.5% |
| Cash at bank and in hand | 54/58 | €161,358 | €241,338 | +€79,979 | +49.6% |
| Total equity and liabilities | 10/49 | €526,380 | €408,480 | -€117,900 | -22.4% |
| Equity | 10/15 | €466,624 | €388,402 | -€78,221 | -16.8% |
| Contributions | 10/11 | €22,000 | €22,000 | = | 0.0% |
| Reserves | 13 | €446,000 | €371,000 | -€75,000 | -16.8% |
| Tax-exempt reserves | 132 | €8,000 | €8,000 | = | 0.0% |
| Distributable reserves | 133 | €438,000 | €363,000 | -€75,000 | -17.1% |
| Profit (loss) carried forward | 14 | -€1,376 | -€4,598 | -€3,221 | -234% |
| Amounts payable | 17/49 | €59,756 | €20,078 | -€39,679 | -66.4% |
| Amounts payable within one year | 42/48 | €22,956 | €20,078 | -€2,879 | -12.5% |
| Financial debts | 43 | €850 | €424 | -€426 | -50.1% |
| Credit institutions | 430/8 | €850 | €424 | -€426 | -50.1% |
| Trade debts | 44 | €12,173 | €10,846 | -€1,327 | -10.9% |
| Suppliers | 440/4 | €12,173 | €10,846 | -€1,327 | -10.9% |
| Taxes, remuneration and social security | 45 | €8,981 | €8,332 | -€649 | -7.2% |
| Taxes | 450/3 | €941 | €252 | -€689 | -73.2% |
| Remuneration and social security | 454/9 | €8,040 | €8,079 | +€40 | +0.5% |
| Other amounts payable | 47/48 | €952 | €475 | -€477 | -50.1% |
| Accrued charges and deferred income | 492/3 | €36,800 | - | -€36,800 | |
| Remuneration, social security and pensions | 62 | €35,002 | €43,199 | +€8,197 | +23.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,981 | €9,098 | +€1,117 | +14.0% |
| Other operating charges | 640/8 | €1,293 | €699 | -€594 | -45.9% |
| Non-recurring operating charges | 66A | - | €240 | +€240 | |
| Gross operating margin | 9900 | -€69,885 | -€15,071 | +€54,814 | +78.4% |
| Operating profit (loss) | 9901 | -€114,161 | -€68,307 | +€45,855 | +40.2% |
| Financial income | 75/76B | - | €40 | +€40 | |
| Recurring financial income | 75 | - | €40 | +€40 | |
| Financial charges | 65/66B | €11,913 | €9,954 | -€1,959 | -16.4% |
| Recurring financial charges | 65 | €11,913 | €9,954 | -€1,959 | -16.4% |
| Profit (loss) for the period before taxes | 9903 | -€126,074 | -€78,221 | +€47,853 | +38.0% |
| Income taxes | 67/77 | -€154 | - | +€154 | |
| Profit (loss) for the period | 9904 | -€125,920 | -€78,221 | +€47,699 | +37.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€125,920 | -€78,221 | +€47,699 | +37.9% |
Source: filed annual accounts (NBB), financial years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.