DEGROOTE HARBOUR DEVELOPMENT: 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.
What changed
DEGROOTE HARBOUR DEVELOPMENT
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€5.7m
2024 · €5.8m-€133,542
Equity
€33.2m
2024 · €27.5m+€5.7m
Cash
€177,560
2024 · €1.1m-€970,082
Balance sheet total
€34.1m
2024 · €27.8m+€6.3m
Largest movements
Assets
- Receivables within one year +€8.0m
up €8.0m (+45.9%), from €17.3m to €25.3m
of which Other amounts receivable: +€7.9m
- Stocks and contracts -€1.4m
down €1.4m (-15.5%), from €8.9m to €7.6m
- Cash -€970,082
down €970,082 (-84.5%), from €1.1m to €177,560
mainly Receivables within one year (-€8.0m) and Investment in fixed assets (net) (-€445,758)
- Tangible fixed assets +€445,758
new in 2025: €445,758
Equity and liabilities
- Reserves +€5.7m
up €5.7m (+25.2%), from €22.5m to €28.2m
of which Distributable reserves: +€5.7m
- Advances received +€666,029
up €666,029 (+405%), from €164,275 to €830,304
Income statement
- Goods and materials -€22.7m
down €22.7m (-88.2%), from €25.8m to €3.1m
of which Change in stocks: decrease (increase): -€24.4m
- Turnover -€22.5m
down €22.5m (-69.3%), from €32.4m to €9.9m
- Other operating income -€1.5m
no longer reported in 2025 (was €1.5m)
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.
Result 2024
€5.8m
Turnover
-€22.5m
Other operating income
-€1.5m
Goods and materials
+€22.7m
Services and other goods
+€123,976
Other operating charges
+€14,561
Other operating items
+€405,758
Financial income
+€245,755
Financial charges
+€223,281
Taxes
+€46,323
Result 2025
€5.7m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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.
From operations
-€524,324
Investment
-€445,758
Financing
€0
Cash 2024
€1.1m
From operations (derived)
-€524,324
Net result for the year
+€5.7m
Stocks and contracts
+€1.4m
Receivables within one year
-€8.0m
Deferred charges and accrued income
-€243,790
Trade debts
-€44,111
Tax, wage and social debts
-€39,464
Advances received
+€666,029
Accrued charges and deferred income
+€26,069
Investment (derived)
-€445,758
Investment in fixed assets (net)
-€445,758
Cash 2025
€177,560
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €27,800,944 | €34,088,595 | +€6.3m | +22.6% |
| Fixed assets | 21/28 | €495 | €446,253 | +€445,758 | +90,052% |
| Tangible fixed assets | 22/27 | - | €445,758 | +€445,758 | |
| Land and buildings | 22 | - | €445,758 | +€445,758 | |
| Financial fixed assets | 28 | €495 | €495 | = | 0.0% |
| Other financial fixed assets | 284/8 | €495 | €495 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €495 | €495 | = | 0.0% |
| Current assets | 29/58 | €27,800,449 | €33,642,342 | +€5.8m | +21.0% |
| Stocks and contracts in progress | 3 | €8,940,255 | €7,557,307 | -€1.4m | -15.5% |
| Stocks | 30/36 | €8,940,255 | €7,557,307 | -€1.4m | -15.5% |
| Property held for sale | 35 | €8,940,255 | €7,557,307 | -€1.4m | -15.5% |
| Amounts receivable within one year | 40/41 | €17,307,637 | €25,258,770 | +€8.0m | +45.9% |
| Trade receivables | 40 | €32,637 | €46,505 | +€13,868 | +42.5% |
| Other amounts receivable | 41 | €17,275,000 | €25,212,266 | +€7.9m | +45.9% |
| Cash at bank and in hand | 54/58 | €1,147,642 | €177,560 | -€970,082 | -84.5% |
| Deferred charges and accrued income | 490/1 | €404,915 | €648,705 | +€243,790 | +60.2% |
| Total equity and liabilities | 10/49 | €27,800,944 | €34,088,595 | +€6.3m | +22.6% |
| Equity | 10/15 | €27,508,237 | €33,187,366 | +€5.7m | +20.6% |
| Contributions | 10/11 | €5,008,611 | €5,008,611 | = | 0.0% |
| Capital | 10 | €5,008,611 | €5,008,611 | = | 0.0% |
| Issued capital | 100 | €5,008,611 | €5,008,611 | = | 0.0% |
| Reserves | 13 | €22,499,626 | €28,178,755 | +€5.7m | +25.2% |
| Non-distributable reserves | 130/1 | €500,861 | €500,861 | = | 0.0% |
| Legal reserve | 130 | €500,861 | €500,861 | = | 0.0% |
| Distributable reserves | 133 | €21,998,765 | €27,677,894 | +€5.7m | +25.8% |
| Amounts payable | 17/49 | €292,707 | €901,229 | +€608,522 | +208% |
| Amounts payable within one year | 42/48 | €280,961 | €863,415 | +€582,454 | +207% |
| Trade debts | 44 | €77,222 | €33,111 | -€44,111 | -57.1% |
| Suppliers | 440/4 | €77,222 | €33,111 | -€44,111 | -57.1% |
| Advances received on contracts in progress | 46 | €164,275 | €830,304 | +€666,029 | +405% |
| Taxes, remuneration and social security | 45 | €39,464 | €0 | -€39,464 | -100% |
| Taxes | 450/3 | €39,464 | €0 | -€39,464 | -100% |
| Accrued charges and deferred income | 492/3 | €11,746 | €37,814 | +€26,069 | +222% |
| Operating income | 70/76A | €33,921,014 | €10,395,379 | -€23.5m | -69.4% |
| Turnover | 70 | €32,408,614 | €9,949,621 | -€22.5m | -69.3% |
| Own construction capitalised | 72 | - | €445,758 | +€445,758 | |
| Other operating income | 74 | €1,472,400 | - | -€1.5m | |
| Non-recurring operating income | 76A | €40,000 | - | -€40,000 | |
| Operating charges | 60/66A | €26,281,915 | €3,405,182 | -€22.9m | -87.0% |
| Goods for resale, raw materials and consumables | 60 | €25,791,245 | €3,053,048 | -€22.7m | -88.2% |
| Purchases | 600/8 | - | €1,670,100 | +€1.7m | |
| Change in stocks: decrease (increase) | 609 | €25,791,245 | €1,382,948 | -€24.4m | -94.6% |
| Services and other goods | 61 | €475,981 | €352,005 | -€123,976 | -26.0% |
| Other operating charges | 640/8 | €14,689 | €128 | -€14,561 | -99.1% |
| Operating profit (loss) | 9901 | €7,639,099 | €6,990,198 | -€648,901 | -8.5% |
| Financial income | 75/76B | €404,915 | €650,670 | +€245,755 | +60.7% |
| Recurring financial income | 75 | €404,915 | €650,670 | +€245,755 | +60.7% |
| Income from current assets | 751 | €404,915 | €650,662 | +€245,747 | +60.7% |
| Other financial income | 752/9 | - | €8 | +€8 | |
| Financial charges | 65/66B | €291,878 | €68,597 | -€223,281 | -76.5% |
| Recurring financial charges | 65 | €291,878 | €68,597 | -€223,281 | -76.5% |
| Debt charges | 650 | €216,291 | €68,597 | -€147,694 | -68.3% |
| Other financial charges | 652/9 | €75,587 | - | -€75,587 | |
| Profit (loss) for the period before taxes | 9903 | €7,752,135 | €7,572,270 | -€179,866 | -2.3% |
| Income taxes | 67/77 | €1,939,464 | €1,893,141 | -€46,323 | -2.4% |
| Taxes | 670/3 | €1,939,464 | €1,893,141 | -€46,323 | -2.4% |
| Profit (loss) for the period | 9904 | €5,812,671 | €5,679,129 | -€133,542 | -2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €5,812,671 | €5,679,129 | -€133,542 | -2.3% |
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 30 October 2026 via checked.be.