DEGROVAN: 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.
DEGROVAN
Largest movements
- Tangible fixed assets -€112,880
down €112,880 (-6.9%), from €1.6m to €1.5m
- Receivables within one year -€45,213
down €45,213 (-7.5%), from €600,031 to €554,819
of which Trade receivables: -€74,629
- Debts after one year -€122,755
down €122,755 (-9.9%), from €1.2m to €1.1m
- Short-term financial debts -€85,779
down €85,779 (-46.2%), from €185,779 to €100,000
- Tax, wage and social debts +€50,278
up €50,278 (+51.4%), from €97,887 to €148,166
of which Remuneration and social security: +€53,679
- Trade debts -€38,472
down €38,472 (-14.4%), from €266,783 to €228,312
- Current portion of long-term debt +€31,222
up €31,222 (+19.1%), from €163,469 to €194,690
- Staff costs -€106,347
down €106,347 (-16.8%), from €633,178 to €526,831
- Gross operating margin -€91,240
down €91,240 (-10.7%), from €848,932 to €757,693
- Write-downs -€22,675
down €22,675 (-100.0%), from €22,675 to €0
- Depreciation +€15,547
up €15,547 (+13.8%), from €112,284 to €127,831
- Financial charges +€11,458
up €11,458 (+16.9%), from €67,966 to €79,425
of which Financial charges: +€11,458
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,386,547 | €2,232,899 | -€153,648 | -6.4% |
| Fixed assets | 21/28 | €1,647,059 | €1,534,633 | -€112,426 | -6.8% |
| Tangible fixed assets | 22/27 | €1,644,140 | €1,531,260 | -€112,880 | -6.9% |
| Land and buildings | 22 | €1,072,345 | €1,032,186 | -€40,159 | -3.7% |
| Plant, machinery and equipment | 23 | €61,945 | €49,941 | -€12,004 | -19.4% |
| Furniture and vehicles | 24 | €51,345 | €46,043 | -€5,302 | -10.3% |
| Leasing and similar rights | 25 | €458,504 | €403,090 | -€55,414 | -12.1% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €2,920 | €3,374 | +€454 | +15.6% |
| Current assets | 29/58 | €739,488 | €698,265 | -€41,222 | -5.6% |
| Stocks and contracts in progress | 3 | €102,305 | €97,645 | -€4,660 | -4.6% |
| Stocks | 30/36 | €102,305 | €97,645 | -€4,660 | -4.6% |
| Contracts in progress | 37 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €600,031 | €554,819 | -€45,213 | -7.5% |
| Trade receivables | 40 | €420,063 | €345,434 | -€74,629 | -17.8% |
| Other amounts receivable | 41 | €179,968 | €209,385 | +€29,417 | +16.3% |
| Cash at bank and in hand | 54/58 | €22,598 | €30,114 | +€7,515 | +33.3% |
| Deferred charges and accrued income | 490/1 | €14,553 | €15,688 | +€1,135 | +7.8% |
| Total equity and liabilities | 10/49 | €2,386,547 | €2,232,899 | -€153,648 | -6.4% |
| Equity | 10/15 | €426,118 | €436,009 | +€9,890 | +2.3% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €326,118 | €336,009 | +€9,890 | +3.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €32,000 | €32,000 | = | 0.0% |
| Distributable reserves | 133 | €294,118 | €304,009 | +€9,890 | +3.4% |
| Amounts payable | 17/49 | €1,960,429 | €1,796,890 | -€163,539 | -8.3% |
| Amounts payable after more than one year | 17 | €1,244,060 | €1,121,305 | -€122,755 | -9.9% |
| Financial debts | 170/4 | €1,244,060 | €1,121,305 | -€122,755 | -9.9% |
| Amounts payable within one year | 42/48 | €713,953 | €671,378 | -€42,576 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €163,469 | €194,690 | +€31,222 | +19.1% |
| Financial debts | 43 | €185,779 | €100,000 | -€85,779 | -46.2% |
| Credit institutions | 430/8 | €185,779 | €100,000 | -€85,779 | -46.2% |
| Trade debts | 44 | €266,783 | €228,312 | -€38,472 | -14.4% |
| Suppliers | 440/4 | €266,783 | €228,312 | -€38,472 | -14.4% |
| Taxes, remuneration and social security | 45 | €97,887 | €148,166 | +€50,278 | +51.4% |
| Taxes | 450/3 | €16,844 | €13,443 | -€3,401 | -20.2% |
| Remuneration and social security | 454/9 | €81,044 | €134,722 | +€53,679 | +66.2% |
| Other amounts payable | 47/48 | €35 | €210 | +€175 | +504.1% |
| Accrued charges and deferred income | 492/3 | €2,415 | €4,207 | +€1,792 | +74.2% |
| Non-recurring operating income | 76A | €157,027 | €0 | -€157,027 | -100.0% |
| Remuneration, social security and pensions | 62 | €633,178 | €526,831 | -€106,347 | -16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €112,284 | €127,831 | +€15,547 | +13.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €22,675 | €0 | -€22,675 | -100.0% |
| Other operating charges | 640/8 | €33,344 | €22,267 | -€11,077 | -33.2% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €848,932 | €757,693 | -€91,240 | -10.7% |
| Operating profit (loss) | 9901 | €47,451 | €80,764 | +€33,312 | +70.2% |
| Financial income | 75/76B | €7,305 | €11,219 | +€3,914 | +53.6% |
| Recurring financial income | 75 | €7,305 | €11,219 | +€3,914 | +53.6% |
| Financial charges | 65/66B | €67,966 | €79,425 | +€11,458 | +16.9% |
| Recurring financial charges | 65 | €67,966 | €79,425 | +€11,458 | +16.9% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | -€13,210 | €12,557 | +€25,768 | |
| Income taxes | 67/77 | €4,813 | €2,667 | -€2,146 | -44.6% |
| Profit (loss) for the period | 9904 | -€18,024 | €9,890 | +€27,914 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,024 | €9,890 | +€27,914 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.