DEME Dredging: 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
DEME Dredging
NACE 42.911, Civil engineering
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€6.9m
2024 · €34.8m-€27.9m
Equity
€226.8m
2024 · €219.9m+€6.9m
Cash
€16.1m
2024 · €5.9m+€10.1m
Balance sheet total
€575.7m
2024 · €424.8m+€150.9m
Largest movements
Assets
- Tangible fixed assets +€86.9m
up €86.9m (+83.1%), from €104.6m to €191.5m
of which Plant, machinery and equipment: +€87.1m
- Financial fixed assets +€69.6m
up €69.6m (+421036.1%), from €16,519 to €69.6m
of which Affiliated companies: +€69.6m
- Receivables within one year -€17.0m
down €17.0m (-6.4%), from €264.0m to €247.1m
of which Other amounts receivable: -€82.7m
- Cash +€10.1m
up €10.1m (+170.3%), from €5.9m to €16.1m
mainly Debts after one year (+€91.1m) and Trade debts (+€27.7m)
Equity and liabilities
- Debts after one year +€91.1m
new in 2025: €91.1m
- Trade debts +€27.7m
up €27.7m (+24.6%), from €112.4m to €140.0m
- Tax, wage and social debts +€12.0m
up €12.0m (+28.3%), from €42.5m to €54.5m
of which Taxes: +€8.7m
- Other debts +€10.0m
up €10.0m (+1353871.1%), from €737 to €10.0m
- Profit (loss) carried forward +€7.1m
up €7.1m (+4.1%), from €174.1m to €181.2m
Income statement
- Turnover +€46.8m
up €46.8m (+8.3%), from €561.2m to €608.0m
- Staff costs +€13.8m
up €13.8m (+7.6%), from €180.3m to €194.1m
- Goods and materials +€13.3m
up €13.3m (+5.3%), from €249.3m to €262.6m
of which Purchases: +€13.4m
- Depreciation +€6.8m
up €6.8m (+45.3%), from €14.9m to €21.7m
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
€34.8m
Turnover
+€46.8m
Other operating income
+€1.2m
Goods and materials
-€13.3m
Services and other goods
-€5.9m
Staff costs
-€13.8m
Depreciation
-€6.8m
Provisions
+€3.1m
Other operating charges
-€111,993
Other operating items
-€33.6m
Financial income
-€5.3m
Financial charges
-€788,987
Taxes
+€546,990
Deferred taxes and other
-€4
Result 2025
€6.9m
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.
From operations
+€94.2m
Investment
-€178.3m
Financing
+€94.2m
Cash 2024
€5.9m
From operations (derived)
+€94.2m
Net result for the year
+€6.9m
Depreciation
+€21.7m
Stocks and contracts
-€1.0m
Receivables within one year
+€17.0m
Smaller working-capital items
-€99,731
Provisions
+€3.2m
Trade debts
+€27.7m
Tax, wage and social debts
+€12.0m
Advances received
-€3.1m
Other debts
+€10.0m
Investment (derived)
-€178.3m
Investment in fixed assets (net)
-€178.1m
Current investments
-€171,250
Financing
+€94.2m
Debts after one year
+€91.1m
Current portion of long-term debt
+€3.2m
Cash 2025
€16.1m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €424,797,439 | €575,651,351 | +€150.9m | +35.5% |
| Fixed assets | 21/28 | €104,583,352 | €261,018,576 | +€156.4m | +149.6% |
| Tangible fixed assets | 22/27 | €104,566,833 | €191,450,353 | +€86.9m | +83.1% |
| Plant, machinery and equipment | 23 | €104,291,019 | €191,342,898 | +€87.1m | +83.5% |
| Furniture and vehicles | 24 | €78,401 | €107,455 | +€29,054 | +37.1% |
| Assets under construction and advance payments | 27 | €197,412 | - | -€197,412 | |
| Financial fixed assets | 28 | €16,519 | €69,568,223 | +€69.6m | +421036.1% |
| Affiliated companies | 280/1 | - | €69,553,440 | +€69.6m | |
| Participating interests | 280 | - | €69,553,440 | +€69.6m | |
| Other financial fixed assets | 284/8 | €16,519 | €14,783 | -€1,736 | -10.5% |
| Amounts receivable and cash guarantees | 285/8 | €16,519 | €14,783 | -€1,736 | -10.5% |
| Current assets | 29/58 | €320,214,087 | €314,632,775 | -€5.6m | -1.7% |
| Stocks and contracts in progress | 3 | €46,495,041 | €47,519,792 | +€1.0m | +2.2% |
| Stocks | 30/36 | €1,079,236 | €1,178,648 | +€99,412 | +9.2% |
| Raw materials and consumables | 30/31 | €1,078,418 | €1,178,648 | +€100,230 | +9.3% |
| Advance payments | 36 | €818 | - | -€818 | |
| Contracts in progress | 37 | €45,415,805 | €46,341,144 | +€925,339 | +2.0% |
| Amounts receivable within one year | 40/41 | €264,020,283 | €247,053,216 | -€17.0m | -6.4% |
| Trade receivables | 40 | €173,397,753 | €239,119,715 | +€65.7m | +37.9% |
| Other amounts receivable | 41 | €90,622,531 | €7,933,501 | -€82.7m | -91.2% |
| Current investments | 50/53 | €2,626,000 | €2,797,250 | +€171,250 | +6.5% |
| Other investments | 51/53 | €2,626,000 | €2,797,250 | +€171,250 | +6.5% |
| Cash at bank and in hand | 54/58 | €5,947,410 | €16,074,651 | +€10.1m | +170.3% |
| Deferred charges and accrued income | 490/1 | €1,125,353 | €1,187,866 | +€62,513 | +5.6% |
| Total equity and liabilities | 10/49 | €424,797,439 | €575,651,351 | +€150.9m | +35.5% |
| Equity | 10/15 | €219,940,405 | €226,829,901 | +€6.9m | +3.1% |
| Contributions | 10/11 | €28,729,495 | €28,729,495 | = | 0.0% |
| Capital | 10 | €28,729,495 | €28,729,495 | = | 0.0% |
| Issued capital | 100 | €28,729,495 | €28,729,495 | = | 0.0% |
| Reserves | 13 | €17,104,605 | €16,942,054 | -€162,551 | -1.0% |
| Non-distributable reserves | 130/1 | €2,866,800 | €2,872,950 | +€6,150 | +0.2% |
| Legal reserve | 130 | €2,866,800 | €2,872,950 | +€6,150 | +0.2% |
| Tax-exempt reserves | 132 | €12,736,387 | €12,567,686 | -€168,701 | -1.3% |
| Distributable reserves | 133 | €1,501,418 | €1,501,418 | = | 0.0% |
| Profit (loss) carried forward | 14 | €174,106,305 | €181,158,352 | +€7.1m | +4.1% |
| Provisions and deferred taxes | 16 | €19,596,397 | €22,824,132 | +€3.2m | +16.5% |
| Provisions for liabilities and charges | 160/5 | €19,156,725 | €22,440,694 | +€3.3m | +17.1% |
| Pensions and similar obligations | 160 | €1,943,173 | €1,952,216 | +€9,043 | +0.5% |
| Major repairs and maintenance | 162 | €12,414,793 | €14,896,456 | +€2.5m | +20.0% |
| Other liabilities and charges | 164/5 | €4,798,759 | €5,592,022 | +€793,263 | +16.5% |
| Deferred taxes | 168 | €439,672 | €383,438 | -€56,234 | -12.8% |
| Amounts payable | 17/49 | €185,260,637 | €325,997,318 | +€140.7m | +76.0% |
| Amounts payable after more than one year | 17 | - | €91,050,000 | +€91.1m | |
| Financial debts | 170/4 | - | €91,050,000 | +€91.1m | |
| Other loans | 174 | - | €91,050,000 | +€91.1m | |
| Amounts payable within one year | 42/48 | €184,893,629 | €234,617,528 | +€49.7m | +26.9% |
| Current portion of amounts payable after more than one year | 42 | - | €3,150,000 | +€3.2m | |
| Trade debts | 44 | €112,377,731 | €140,034,729 | +€27.7m | +24.6% |
| Suppliers | 440/4 | €112,377,731 | €140,034,729 | +€27.7m | +24.6% |
| Advances received on contracts in progress | 46 | €30,004,367 | €26,922,084 | -€3.1m | -10.3% |
| Taxes, remuneration and social security | 45 | €42,510,795 | €54,534,385 | +€12.0m | +28.3% |
| Taxes | 450/3 | €6,179,452 | €14,857,209 | +€8.7m | +140.4% |
| Remuneration and social security | 454/9 | €36,331,343 | €39,677,176 | +€3.3m | +9.2% |
| Other amounts payable | 47/48 | €737 | €9,976,330 | +€10.0m | +1353871.1% |
| Accrued charges and deferred income | 492/3 | €367,009 | €329,791 | -€37,218 | -10.1% |
| Operating income | 70/76A | €605,645,438 | €620,123,302 | +€14.5m | +2.4% |
| Turnover | 70 | €561,178,180 | €608,019,607 | +€46.8m | +8.3% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €34,549,009 | €925,339 | -€33.6m | -97.3% |
| Other operating income | 74 | €9,909,285 | €11,148,804 | +€1.2m | +12.5% |
| Non-recurring operating income | 76A | €8,965 | €29,552 | +€20,587 | +229.6% |
| Operating charges | 60/66A | €574,398,195 | €611,226,380 | +€36.8m | +6.4% |
| Goods for resale, raw materials and consumables | 60 | €249,293,239 | €262,606,631 | +€13.3m | +5.3% |
| Purchases | 600/8 | €249,322,946 | €262,706,861 | +€13.4m | +5.4% |
| Change in stocks: decrease (increase) | 609 | -€29,707 | -€100,230 | -€70,523 | -237.4% |
| Services and other goods | 61 | €122,406,721 | €128,321,742 | +€5.9m | +4.8% |
| Remuneration, social security and pensions | 62 | €180,271,234 | €194,059,601 | +€13.8m | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,920,225 | €21,680,320 | +€6.8m | +45.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €6,346,651 | €3,283,969 | -€3.1m | -48.3% |
| Other operating charges | 640/8 | €1,160,125 | €1,272,118 | +€111,993 | +9.7% |
| Non-recurring operating charges | 66A | - | €2,000 | +€2,000 | |
| Operating profit (loss) | 9901 | €31,247,243 | €8,896,922 | -€22.4m | -71.5% |
| Financial income | 75/76B | €6,346,695 | €1,011,026 | -€5.3m | -84.1% |
| Recurring financial income | 75 | €6,346,695 | €1,011,026 | -€5.3m | -84.1% |
| Income from current assets | 751 | €5,442,229 | €783,634 | -€4.7m | -85.6% |
| Other financial income | 752/9 | €904,467 | €227,391 | -€677,075 | -74.9% |
| Financial charges | 65/66B | €1,679,898 | €2,468,885 | +€788,987 | +47.0% |
| Recurring financial charges | 65 | €1,679,898 | €2,468,885 | +€788,987 | +47.0% |
| Debt charges | 650 | €523,868 | €573,827 | +€49,958 | +9.5% |
| Other financial charges | 652/9 | €1,156,029 | €1,895,058 | +€739,029 | +63.9% |
| Profit (loss) for the period before taxes | 9903 | €35,914,040 | €7,439,063 | -€28.5m | -79.3% |
| Transfer from deferred taxes | 780 | €56,237 | €56,234 | -€4 | 0.0% |
| Income taxes | 67/77 | €1,152,790 | €605,800 | -€546,990 | -47.4% |
| Taxes | 670/3 | €1,152,790 | €605,800 | -€546,990 | -47.4% |
| Profit (loss) for the period | 9904 | €34,817,487 | €6,889,496 | -€27.9m | -80.2% |
| Transfer from tax-exempt reserves | 789 | €168,711 | €168,701 | -€11 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €34,986,198 | €7,058,197 | -€27.9m | -79.8% |
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 30 September 2026 via checked.be.