DEGUDAP: 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.
DEGUDAP
Largest movements
- Receivables within one year +€335,414
up €335,414 (+12.6%), from €2.7m to €3.0m
of which Trade receivables: +€545,881
- Tangible fixed assets +€201,965
up €201,965 (+107.6%), from €187,776 to €389,741
of which Land and buildings: +€212,722
- Intangible fixed assets +€117,045
up €117,045 (+99.4%), from €117,786 to €234,831
- Cash -€60,200
down €60,200 (-16.1%), from €373,280 to €313,080
mainly Contributions, distributions and other (-€784,753) and Other debts (-€473,845)
- Debts after one year +€813,898
up €813,898 (+1180.0%), from €68,977 to €882,875
- Reserves -€566,192
down €566,192 (-100.0%), from €566,192 to €0
- Other debts -€473,845
down €473,845 (-22.6%), from €2.1m to €1.6m
- Current portion of long-term debt +€338,062
up €338,062 (+866.5%), from €39,017 to €377,078
- Short-term financial debts +€333,642
up €333,642 (+49.4%), from €675,000 to €1.0m
of which Credit institutions: +€300,000
- Gross operating margin +€525,743
up €525,743 (+277.9%), from €189,180 to €714,923
- Staff costs +€158,372
up €158,372 (+273.2%), from €57,974 to €216,346
- Depreciation +€92,978
up €92,978 (+441.5%), from €21,057 to €114,035
- Taxes +€56,558
up €56,558 (+289.5%), from €19,535 to €76,093
- Financial charges +€46,245
up €46,245 (+93.2%), from €49,642 to €95,888
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,362,041 | €5,925,955 | +€563,915 | +10.5% |
| Fixed assets | 21/28 | €788,869 | €1,107,879 | +€319,010 | +40.4% |
| Intangible fixed assets | 21 | €117,786 | €234,831 | +€117,045 | +99.4% |
| Tangible fixed assets | 22/27 | €187,776 | €389,741 | +€201,965 | +107.6% |
| Land and buildings | 22 | - | €212,722 | +€212,722 | |
| Plant, machinery and equipment | 23 | €35,033 | €30,665 | -€4,368 | -12.5% |
| Furniture and vehicles | 24 | €152,744 | €146,354 | -€6,389 | -4.2% |
| Financial fixed assets | 28 | €483,306 | €483,306 | = | 0.0% |
| Current assets | 29/58 | €4,573,172 | €4,818,077 | +€244,905 | +5.4% |
| Stocks and contracts in progress | 3 | €1,523,483 | €1,503,984 | -€19,499 | -1.3% |
| Stocks | 30/36 | €1,523,483 | €1,503,984 | -€19,499 | -1.3% |
| Amounts receivable within one year | 40/41 | €2,659,644 | €2,995,058 | +€335,414 | +12.6% |
| Trade receivables | 40 | €2,305,857 | €2,851,738 | +€545,881 | +23.7% |
| Other amounts receivable | 41 | €353,787 | €143,320 | -€210,467 | -59.5% |
| Cash at bank and in hand | 54/58 | €373,280 | €313,080 | -€60,200 | -16.1% |
| Deferred charges and accrued income | 490/1 | €16,764 | €5,955 | -€10,810 | -64.5% |
| Total equity and liabilities | 10/49 | €5,362,041 | €5,925,955 | +€563,915 | +10.5% |
| Equity | 10/15 | €867,765 | €301,572 | -€566,192 | -65.2% |
| Contributions | 10/11 | €301,572 | €301,572 | = | 0.0% |
| Reserves | 13 | €566,192 | €0 | -€566,192 | -100.0% |
| Distributable reserves | 133 | €566,192 | €0 | -€566,192 | -100.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €4,494,276 | €5,624,383 | +€1.1m | +25.1% |
| Amounts payable after more than one year | 17 | €68,977 | €882,875 | +€813,898 | +1180.0% |
| Financial debts | 170/4 | €68,977 | €882,875 | +€813,898 | +1180.0% |
| Amounts payable within one year | 42/48 | €4,359,906 | €4,663,830 | +€303,924 | +7.0% |
| Current portion of amounts payable after more than one year | 42 | €39,017 | €377,078 | +€338,062 | +866.5% |
| Financial debts | 43 | €675,000 | €1,008,642 | +€333,642 | +49.4% |
| Credit institutions | 430/8 | €675,000 | €975,000 | +€300,000 | +44.4% |
| Other loans | 439 | - | €33,642 | +€33,642 | |
| Trade debts | 44 | €1,502,885 | €1,623,516 | +€120,630 | +8.0% |
| Suppliers | 440/4 | €1,502,885 | €1,623,516 | +€120,630 | +8.0% |
| Taxes, remuneration and social security | 45 | €50,406 | €35,841 | -€14,565 | -28.9% |
| Taxes | 450/3 | €22,895 | €2,488 | -€20,406 | -89.1% |
| Remuneration and social security | 454/9 | €27,511 | €33,353 | +€5,842 | +21.2% |
| Other amounts payable | 47/48 | €2,092,598 | €1,618,753 | -€473,845 | -22.6% |
| Accrued charges and deferred income | 492/3 | €65,393 | €77,679 | +€12,286 | +18.8% |
| Remuneration, social security and pensions | 62 | €57,974 | €216,346 | +€158,372 | +273.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,057 | €114,035 | +€92,978 | +441.5% |
| Other operating charges | 640/8 | €671 | €3,240 | +€2,569 | +382.9% |
| Gross operating margin | 9900 | €189,180 | €714,923 | +€525,743 | +277.9% |
| Operating profit (loss) | 9901 | €109,477 | €381,301 | +€271,824 | +248.3% |
| Financial income | 75/76B | €875 | €9,240 | +€8,365 | +956.0% |
| Recurring financial income | 75 | €875 | €9,240 | +€8,365 | +956.0% |
| Financial charges | 65/66B | €49,642 | €95,888 | +€46,245 | +93.2% |
| Recurring financial charges | 65 | €49,642 | €95,888 | +€46,245 | +93.2% |
| Profit (loss) for the period before taxes | 9903 | €60,710 | €294,654 | +€233,944 | +385.3% |
| Income taxes | 67/77 | €19,535 | €76,093 | +€56,558 | +289.5% |
| Profit (loss) for the period | 9904 | €41,175 | €218,561 | +€177,386 | +430.8% |
| Profit (loss) for the period to be appropriated | 9905 | €41,175 | €218,561 | +€177,386 | +430.8% |
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 11 October 2026 via checked.be.