DEGRO: 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.
What changed
DEGRO
NACE 43.990, Other specialised construction activities
fiscal year 2025 against 2026filed annual accounts (NBB)
Net result for the year
€154,320
2025 · €1.2m-€1.0m
Equity
€6.4m
2025 · €9.4m-€3.1m
Cash
€2.9m
2025 · €2.8m+€101,153
Balance sheet total
€14.7m
2025 · €20.1m-€5.4m
Largest movements
Assets
- Tangible fixed assets -€3.1m
down €3.1m (-34.8%), from €8.8m to €5.8m
of which Leasing and similar rights: -€3.2m
- Receivables within one year -€1.9m
down €1.9m (-32.8%), from €5.7m to €3.9m
of which Other amounts receivable: -€1.4m
- Financial fixed assets -€582,720
down €582,720 (-99.7%), from €584,420 to €1,700
of which Affiliated companies: -€580,000
- Stocks and contracts -€339,633
down €339,633 (-17.2%), from €2.0m to €1.6m
of which Contracts in progress: -€341,495
- Current investments +€295,500
new in 2026: €295,500
Equity and liabilities
- Reserves -€3.1m
down €3.1m (-32.7%), from €9.4m to €6.3m
of which Distributable reserves: -€2.2m
- Debts after one year -€2.2m
down €2.2m (-35.6%), from €6.2m to €4.0m
- Other debts +€1.0m
up €1.0m (+554.8%), from €181,211 to €1.2m
- Current portion of long-term debt -€904,840
down €904,840 (-46.1%), from €2.0m to €1.1m
Income statement
- Depreciation -€908,778
down €908,778 (-32.4%), from €2.8m to €1.9m
- Goods and materials -€889,355
down €889,355 (-19.2%), from €4.6m to €3.8m
of which Purchases: -€889,493
- Services and other goods +€739,305
up €739,305 (+18.8%), from €3.9m to €4.7m
- Turnover -€506,842
down €506,842 (-3.7%), from €13.6m to €13.1m
- Taxes -€179,204
down €179,204 (-72.4%), from €247,542 to €68,338
of which Taxes: -€282,647
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.
Result 2025
€1.2m
Turnover
-€506,842
Other operating income
+€129,343
Goods and materials
+€889,355
Services and other goods
-€739,305
Staff costs
-€9,996
Depreciation
+€908,778
Other operating charges
-€81,609
Other operating items
-€1.9m
Financial income
+€24,869
Financial charges
+€55,243
Taxes
+€179,204
Result 2026
€154,320
Cash bridge derived
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.
From operations
+€5.1m
Investment
+€1.3m
Financing
-€6.3m
Cash 2025
€2.8m
From operations (derived)
+€5.1m
Net result for the year
+€154,320
Depreciation
+€1.9m
Stocks and contracts
+€339,633
Receivables within one year
+€1.9m
Deferred charges and accrued income
+€37,717
Trade debts
-€106,619
Tax, wage and social debts
-€111,094
Other debts
+€1.0m
Accrued charges and deferred income
+€3,288
Investment (derived)
+€1.3m
Investment in fixed assets (net)
+€1.6m
Current investments
-€295,500
Financing
-€6.3m
Debts after one year
-€2.2m
Current portion of long-term debt
-€904,840
Short-term financial debts
-€463
Contributions, distributions and other
-€3.2m
Cash 2026
€2.9m
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €20,054,648 | €14,659,171 | -€5.4m | -26.9% |
| Fixed assets | 21/28 | €9,405,252 | €5,875,610 | -€3.5m | -37.5% |
| Intangible fixed assets | 21 | - | €123,580 | +€123,580 | |
| Tangible fixed assets | 22/27 | €8,820,832 | €5,750,330 | -€3.1m | -34.8% |
| Land and buildings | 22 | €3,154,799 | €2,705,057 | -€449,742 | -14.3% |
| Plant, machinery and equipment | 23 | €1,150,160 | €1,738,825 | +€588,665 | +51.2% |
| Furniture and vehicles | 24 | €126,011 | €147,872 | +€21,861 | +17.3% |
| Leasing and similar rights | 25 | €4,389,862 | €1,158,575 | -€3.2m | -73.6% |
| Financial fixed assets | 28 | €584,420 | €1,700 | -€582,720 | -99.7% |
| Affiliated companies | 280/1 | €580,000 | - | -€580,000 | |
| Participating interests | 280 | €580,000 | - | -€580,000 | |
| Other financial fixed assets | 284/8 | €4,420 | €1,700 | -€2,720 | -61.5% |
| Amounts receivable and cash guarantees | 285/8 | €4,420 | €1,700 | -€2,720 | -61.5% |
| Current assets | 29/58 | €10,649,396 | €8,783,561 | -€1.9m | -17.5% |
| Stocks and contracts in progress | 3 | €1,978,731 | €1,639,098 | -€339,633 | -17.2% |
| Stocks | 30/36 | €37,236 | €39,098 | +€1,862 | +5.0% |
| Goods purchased for resale | 34 | €37,236 | €39,098 | +€1,862 | +5.0% |
| Contracts in progress | 37 | €1,941,495 | €1,600,000 | -€341,495 | -17.6% |
| Amounts receivable within one year | 40/41 | €5,745,215 | €3,860,077 | -€1.9m | -32.8% |
| Trade receivables | 40 | €3,923,187 | €3,418,794 | -€504,394 | -12.9% |
| Other amounts receivable | 41 | €1,822,028 | €441,283 | -€1.4m | -75.8% |
| Current investments | 50/53 | - | €295,500 | +€295,500 | |
| Other investments | 51/53 | - | €295,500 | +€295,500 | |
| Cash at bank and in hand | 54/58 | €2,782,397 | €2,883,551 | +€101,153 | +3.6% |
| Deferred charges and accrued income | 490/1 | €143,053 | €105,336 | -€37,717 | -26.4% |
| Total equity and liabilities | 10/49 | €20,054,648 | €14,659,171 | -€5.4m | -26.9% |
| Equity | 10/15 | €9,442,309 | €6,355,260 | -€3.1m | -32.7% |
| Contributions | 10/11 | €44,700 | €34,089 | -€10,611 | -23.7% |
| Reserves | 13 | €9,397,609 | €6,321,171 | -€3.1m | -32.7% |
| Tax-exempt reserves | 132 | €3,594,123 | €2,740,968 | -€853,155 | -23.7% |
| Distributable reserves | 133 | €5,803,486 | €3,580,203 | -€2.2m | -38.3% |
| Amounts payable | 17/49 | €10,612,339 | €8,303,911 | -€2.3m | -21.8% |
| Amounts payable after more than one year | 17 | €6,164,200 | €3,970,214 | -€2.2m | -35.6% |
| Financial debts | 170/4 | €6,164,200 | €3,970,214 | -€2.2m | -35.6% |
| Leasing and similar obligations | 172 | €3,304,848 | €1,014,467 | -€2.3m | -69.3% |
| Credit institutions | 173 | €2,859,352 | €2,955,747 | +€96,395 | +3.4% |
| Amounts payable within one year | 42/48 | €4,424,979 | €4,307,249 | -€117,730 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €1,961,215 | €1,056,375 | -€904,840 | -46.1% |
| Financial debts | 43 | €96,117 | €95,654 | -€463 | -0.5% |
| Credit institutions | 430/8 | €96,117 | €95,654 | -€463 | -0.5% |
| Trade debts | 44 | €1,972,817 | €1,866,198 | -€106,619 | -5.4% |
| Suppliers | 440/4 | €1,972,817 | €1,866,198 | -€106,619 | -5.4% |
| Taxes, remuneration and social security | 45 | €213,618 | €102,525 | -€111,094 | -52.0% |
| Taxes | 450/3 | €72,589 | €10,980 | -€61,610 | -84.9% |
| Remuneration and social security | 454/9 | €141,029 | €91,545 | -€49,484 | -35.1% |
| Other amounts payable | 47/48 | €181,211 | €1,186,497 | +€1.0m | +554.8% |
| Accrued charges and deferred income | 492/3 | €23,160 | €26,448 | +€3,288 | +14.2% |
| Operating income | 70/76A | €15,419,227 | €13,124,661 | -€2.3m | -14.9% |
| Turnover | 70 | €13,584,454 | €13,077,612 | -€506,842 | -3.7% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €1,746,548 | -€341,495 | -€2.1m | |
| Other operating income | 74 | €22,812 | €152,154 | +€129,343 | +567.0% |
| Non-recurring operating income | 76A | €65,413 | €236,389 | +€170,976 | +261.4% |
| Operating charges | 60/66A | €13,762,439 | €12,730,024 | -€1.0m | -7.5% |
| Goods for resale, raw materials and consumables | 60 | €4,641,678 | €3,752,323 | -€889,355 | -19.2% |
| Purchases | 600/8 | €4,643,678 | €3,754,185 | -€889,493 | -19.2% |
| Change in stocks: decrease (increase) | 609 | -€2,000 | -€1,862 | +€138 | +6.9% |
| Services and other goods | 61 | €3,938,993 | €4,678,298 | +€739,305 | +18.8% |
| Remuneration, social security and pensions | 62 | €2,259,706 | €2,269,701 | +€9,996 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,809,007 | €1,900,229 | -€908,778 | -32.4% |
| Other operating charges | 640/8 | €47,114 | €128,723 | +€81,609 | +173.2% |
| Non-recurring operating charges | 66A | €65,941 | €750 | -€65,191 | -98.9% |
| Operating profit (loss) | 9901 | €1,656,788 | €394,637 | -€1.3m | -76.2% |
| Financial income | 75/76B | €51,601 | €76,470 | +€24,869 | +48.2% |
| Recurring financial income | 75 | €51,601 | €76,470 | +€24,869 | +48.2% |
| Income from current assets | 751 | - | €4,791 | +€4,791 | |
| Other financial income | 752/9 | €51,601 | €71,680 | +€20,079 | +38.9% |
| Financial charges | 65/66B | €303,692 | €248,449 | -€55,243 | -18.2% |
| Recurring financial charges | 65 | €303,692 | €248,449 | -€55,243 | -18.2% |
| Debt charges | 650 | €262,338 | €171,195 | -€91,142 | -34.7% |
| Other financial charges | 652/9 | €41,354 | €77,254 | +€35,899 | +86.8% |
| Profit (loss) for the period before taxes | 9903 | €1,404,697 | €222,658 | -€1.2m | -84.1% |
| Income taxes | 67/77 | €247,542 | €68,338 | -€179,204 | -72.4% |
| Taxes | 670/3 | €363,822 | €81,175 | -€282,647 | -77.7% |
| Tax adjustments and reversals of tax provisions | 77 | €116,280 | €12,837 | -€103,444 | -89.0% |
| Profit (loss) for the period | 9904 | €1,157,156 | €154,320 | -€1.0m | -86.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,157,156 | €154,320 | -€1.0m | -86.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.