DERAEDT: 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.
DERAEDT
Largest movements
- Cash +€436,150
up €436,150 (+710.8%), from €61,364 to €497,514
mainly Depreciation (+€390,984) and Trade debts (+€272,628)
- Tangible fixed assets +€181,675
up €181,675 (+23.2%), from €782,841 to €964,516
of which Plant, machinery and equipment: +€128,036
- Receivables within one year -€131,187
down €131,187 (-13.6%), from €964,231 to €833,044
of which Trade receivables: -€236,433
- Trade debts +€272,628
up €272,628 (+33.3%), from €819,524 to €1.1m
- Debts after one year +€215,997
up €215,997 (+72.3%), from €298,823 to €514,820
- Short-term financial debts -€150,000
no longer reported in 2025 (was €150,000)
- Profit (loss) carried forward +€73,238
up €73,238 (+11.4%), from €644,746 to €717,984
- Current portion of long-term debt +€55,914
up €55,914 (+30.1%), from €185,576 to €241,490
- Gross operating margin +€198,981
up €198,981 (+13.2%), from €1.5m to €1.7m
- Staff costs +€135,035
up €135,035 (+14.6%), from €927,611 to €1.1m
- Financial charges +€63,549
up €63,549 (+90.1%), from €70,523 to €134,072
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 | €2,657,117 | €3,114,901 | +€457,784 | +17.2% |
| Fixed assets | 21/28 | €787,119 | €966,609 | +€179,490 | +22.8% |
| Intangible fixed assets | 21 | €4,278 | €2,093 | -€2,185 | -51.1% |
| Tangible fixed assets | 22/27 | €782,841 | €964,516 | +€181,675 | +23.2% |
| Land and buildings | 22 | €88,537 | €92,039 | +€3,502 | +4.0% |
| Plant, machinery and equipment | 23 | €543,606 | €671,642 | +€128,036 | +23.6% |
| Furniture and vehicles | 24 | €150,698 | €97,164 | -€53,534 | -35.5% |
| Leasing and similar rights | 25 | - | €103,671 | +€103,671 | |
| Current assets | 29/58 | €1,869,998 | €2,148,292 | +€278,294 | +14.9% |
| Stocks and contracts in progress | 3 | €838,061 | €812,908 | -€25,153 | -3.0% |
| Stocks | 30/36 | €93,479 | €78,214 | -€15,265 | -16.3% |
| Contracts in progress | 37 | €744,582 | €734,694 | -€9,888 | -1.3% |
| Amounts receivable within one year | 40/41 | €964,231 | €833,044 | -€131,187 | -13.6% |
| Trade receivables | 40 | €854,464 | €618,031 | -€236,433 | -27.7% |
| Other amounts receivable | 41 | €109,767 | €215,013 | +€105,246 | +95.9% |
| Cash at bank and in hand | 54/58 | €61,364 | €497,514 | +€436,150 | +710.8% |
| Deferred charges and accrued income | 490/1 | €6,342 | €4,826 | -€1,516 | -23.9% |
| Total equity and liabilities | 10/49 | €2,657,117 | €3,114,901 | +€457,784 | +17.2% |
| Equity | 10/15 | €1,144,979 | €1,218,217 | +€73,238 | +6.4% |
| Contributions | 10/11 | €211,763 | €211,763 | = | 0.0% |
| Reserves | 13 | €288,470 | €288,470 | = | 0.0% |
| Non-distributable reserves | 130/1 | €19,831 | €19,831 | = | 0.0% |
| Other | 1319 | €19,831 | €19,831 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,902 | €2,902 | = | 0.0% |
| Distributable reserves | 133 | €265,737 | €265,737 | = | 0.0% |
| Profit (loss) carried forward | 14 | €644,746 | €717,984 | +€73,238 | +11.4% |
| Amounts payable | 17/49 | €1,512,138 | €1,896,684 | +€384,546 | +25.4% |
| Amounts payable after more than one year | 17 | €298,823 | €514,820 | +€215,997 | +72.3% |
| Financial debts | 170/4 | €298,823 | €514,820 | +€215,997 | +72.3% |
| Amounts payable within one year | 42/48 | €1,213,315 | €1,381,864 | +€168,549 | +13.9% |
| Current portion of amounts payable after more than one year | 42 | €185,576 | €241,490 | +€55,914 | +30.1% |
| Financial debts | 43 | €150,000 | - | -€150,000 | |
| Credit institutions | 430/8 | €150,000 | - | -€150,000 | |
| Trade debts | 44 | €819,524 | €1,092,152 | +€272,628 | +33.3% |
| Suppliers | 440/4 | €819,524 | €1,092,152 | +€272,628 | +33.3% |
| Taxes, remuneration and social security | 45 | €47,229 | €40,164 | -€7,065 | -15.0% |
| Taxes | 450/3 | €4,168 | €4,731 | +€563 | +13.5% |
| Remuneration and social security | 454/9 | €43,061 | €35,433 | -€7,628 | -17.7% |
| Other amounts payable | 47/48 | €10,986 | €8,058 | -€2,928 | -26.7% |
| Non-recurring operating income | 76A | €39,565 | €2,250 | -€37,315 | -94.3% |
| Remuneration, social security and pensions | 62 | €927,611 | €1,062,646 | +€135,035 | +14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €383,158 | €390,984 | +€7,826 | +2.0% |
| Other operating charges | 640/8 | €22,940 | €33,046 | +€10,106 | +44.1% |
| Gross operating margin | 9900 | €1,502,710 | €1,701,691 | +€198,981 | +13.2% |
| Operating profit (loss) | 9901 | €169,001 | €215,015 | +€46,014 | +27.2% |
| Financial income | 75/76B | €4 | €13,544 | +€13,540 | +338500.0% |
| Recurring financial income | 75 | €4 | €13,544 | +€13,540 | +338500.0% |
| Financial charges | 65/66B | €70,523 | €134,072 | +€63,549 | +90.1% |
| Recurring financial charges | 65 | €70,523 | €134,072 | +€63,549 | +90.1% |
| Profit (loss) for the period before taxes | 9903 | €98,482 | €94,487 | -€3,995 | -4.1% |
| Income taxes | 67/77 | €19,241 | €21,249 | +€2,008 | +10.4% |
| Profit (loss) for the period | 9904 | €79,241 | €73,238 | -€6,003 | -7.6% |
| Profit (loss) for the period to be appropriated | 9905 | €79,241 | €73,238 | -€6,003 | -7.6% |
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.