DEGROCO: 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.
DEGROCO
Largest movements
- Cash +€400,327
up €400,327 (+129.0%), from €310,376 to €710,704
mainly Net result for the year (+€353,254) and Debts after one year (+€237,276)
- Tangible fixed assets +€306,741
up €306,741 (+56.7%), from €540,719 to €847,460
of which Land and buildings: +€358,233
- Receivables within one year -€50,507
down €50,507 (-88.6%), from €56,991 to €6,483
of which Other amounts receivable: -€49,447
- Current investments -€45,500
down €45,500 (-10.1%), from €450,000 to €404,500
- Debts after one year +€237,276
up €237,276 (+86.0%), from €275,848 to €513,124
- Other debts +€144,680
up €144,680 (+192.4%), from €75,205 to €219,885
- Reserves +€131,400
up €131,400 (+14.5%), from €904,140 to €1.0m
- Tax, wage and social debts +€60,792
up €60,792 (+143.8%), from €42,261 to €103,052
of which Taxes: +€68,802
- Current portion of long-term debt +€27,508
up €27,508 (+42.5%), from €64,785 to €92,293
- Gross operating margin +€109,168
up €109,168 (+19.4%), from €561,670 to €670,838
- Taxes +€36,768
up €36,768 (+29.3%), from €125,297 to €162,065
- Staff costs -€19,390
down €19,390 (-19.2%), from €101,154 to €81,764
- Financial income -€11,546
down €11,546 (-47.2%), from €24,442 to €12,895
- Financial charges +€7,176
up €7,176 (+60.7%), from €11,826 to €19,002
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 | €1,495,794 | €2,096,760 | +€600,966 | +40.2% |
| Fixed assets | 21/28 | €540,719 | €847,460 | +€306,741 | +56.7% |
| Tangible fixed assets | 22/27 | €540,719 | €847,460 | +€306,741 | +56.7% |
| Land and buildings | 22 | €430,689 | €788,922 | +€358,233 | +83.2% |
| Plant, machinery and equipment | 23 | €38,416 | €26,584 | -€11,832 | -30.8% |
| Furniture and vehicles | 24 | €36,614 | €31,954 | -€4,660 | -12.7% |
| Assets under construction and advance payments | 27 | €35,000 | - | -€35,000 | |
| Current assets | 29/58 | €955,075 | €1,249,300 | +€294,225 | +30.8% |
| Stocks and contracts in progress | 3 | €137,228 | €127,113 | -€10,115 | -7.4% |
| Stocks | 30/36 | €137,228 | €127,113 | -€10,115 | -7.4% |
| Amounts receivable within one year | 40/41 | €56,991 | €6,483 | -€50,507 | -88.6% |
| Trade receivables | 40 | €1,060 | - | -€1,060 | |
| Other amounts receivable | 41 | €55,931 | €6,483 | -€49,447 | -88.4% |
| Current investments | 50/53 | €450,000 | €404,500 | -€45,500 | -10.1% |
| Cash at bank and in hand | 54/58 | €310,376 | €710,704 | +€400,327 | +129.0% |
| Deferred charges and accrued income | 490/1 | €480 | €500 | +€19 | +4.0% |
| Total equity and liabilities | 10/49 | €1,495,794 | €2,096,760 | +€600,966 | +40.2% |
| Equity | 10/15 | €976,177 | €1,107,831 | +€131,654 | +13.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €904,140 | €1,035,540 | +€131,400 | +14.5% |
| Distributable reserves | 133 | €904,140 | €1,035,540 | +€131,400 | +14.5% |
| Profit (loss) carried forward | 14 | €10,537 | €10,791 | +€254 | +2.4% |
| Amounts payable | 17/49 | €519,617 | €988,929 | +€469,312 | +90.3% |
| Amounts payable after more than one year | 17 | €275,848 | €513,124 | +€237,276 | +86.0% |
| Financial debts | 170/4 | €275,848 | €513,124 | +€237,276 | +86.0% |
| Amounts payable within one year | 42/48 | €243,769 | €475,805 | +€232,035 | +95.2% |
| Current portion of amounts payable after more than one year | 42 | €64,785 | €92,293 | +€27,508 | +42.5% |
| Financial debts | 43 | - | €7,065 | +€7,065 | |
| Credit institutions | 430/8 | - | €7,065 | +€7,065 | |
| Trade debts | 44 | €61,518 | €53,509 | -€8,010 | -13.0% |
| Suppliers | 440/4 | €61,518 | €53,509 | -€8,010 | -13.0% |
| Taxes, remuneration and social security | 45 | €42,261 | €103,052 | +€60,792 | +143.8% |
| Taxes | 450/3 | €26,284 | €95,086 | +€68,802 | +261.8% |
| Remuneration and social security | 454/9 | €15,976 | €7,966 | -€8,010 | -50.1% |
| Other amounts payable | 47/48 | €75,205 | €219,885 | +€144,680 | +192.4% |
| Remuneration, social security and pensions | 62 | €101,154 | €81,764 | -€19,390 | -19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,978 | €60,257 | -€3,721 | -5.8% |
| Other operating charges | 640/8 | €5,339 | €7,391 | +€2,052 | +38.4% |
| Gross operating margin | 9900 | €561,670 | €670,838 | +€109,168 | +19.4% |
| Operating profit (loss) | 9901 | €391,199 | €521,426 | +€130,227 | +33.3% |
| Financial income | 75/76B | €24,442 | €12,895 | -€11,546 | -47.2% |
| Recurring financial income | 75 | €24,442 | €12,895 | -€11,546 | -47.2% |
| Financial charges | 65/66B | €11,826 | €19,002 | +€7,176 | +60.7% |
| Recurring financial charges | 65 | €11,826 | €19,002 | +€7,176 | +60.7% |
| Profit (loss) for the period before taxes | 9903 | €403,815 | €515,319 | +€111,505 | +27.6% |
| Income taxes | 67/77 | €125,297 | €162,065 | +€36,768 | +29.3% |
| Profit (loss) for the period | 9904 | €278,518 | €353,254 | +€74,736 | +26.8% |
| Profit (loss) for the period to be appropriated | 9905 | €278,518 | €353,254 | +€74,736 | +26.8% |
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.