DERAY: 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.
DERAY
Largest movements
- Receivables within one year +€26,504
up €26,504 (+1974.1%), from €1,343 to €27,846
of which Trade receivables: +€27,038
- Cash +€15,264
up €15,264 (+402.8%), from €3,789 to €19,054
mainly Net result for the year (+€21,539) and Depreciation (+€13,461)
- Tangible fixed assets -€7,609
down €7,609 (-6.1%), from €124,382 to €116,773
of which Land and buildings: -€7,579
- Profit (loss) carried forward +€21,539
up €21,539 (+24.7%), from €87,325 to €108,864
- Trade debts +€8,872
up €8,872 (+945.2%), from €939 to €9,810
- Other debts +€7,519
up €7,519 (+300.8%), from €2,500 to €10,019
- Tax, wage and social debts -€3,194
down €3,194 (-50.7%), from €6,300 to €3,106
of which Remuneration and social security: -€6,300
- Gross operating margin +€22,897
up €22,897 (+182.2%), from €12,566 to €35,462
- Depreciation -€5,380
down €5,380 (-28.6%), from €18,841 to €13,461
- Other operating charges -€1,423
down €1,423 (-85.7%), from €1,660 to €237
- Taxes -€467
no longer reported in 2025 (was €467)
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 | €129,514 | €163,673 | +€34,158 | +26.4% |
| Fixed assets | 21/28 | €124,382 | €116,773 | -€7,609 | -6.1% |
| Tangible fixed assets | 22/27 | €124,382 | €116,773 | -€7,609 | -6.1% |
| Land and buildings | 22 | €116,179 | €108,600 | -€7,579 | -6.5% |
| Plant, machinery and equipment | 23 | €8,203 | €8,173 | -€30 | -0.4% |
| Current assets | 29/58 | €5,132 | €46,900 | +€41,768 | +813.9% |
| Amounts receivable within one year | 40/41 | €1,343 | €27,846 | +€26,504 | +1974.1% |
| Trade receivables | 40 | €808 | €27,846 | +€27,038 | +3345.1% |
| Other amounts receivable | 41 | €534 | - | -€534 | |
| Cash at bank and in hand | 54/58 | €3,789 | €19,054 | +€15,264 | +402.8% |
| Total equity and liabilities | 10/49 | €129,514 | €163,673 | +€34,158 | +26.4% |
| Equity | 10/15 | €119,776 | €140,738 | +€20,962 | +17.5% |
| Contributions | 10/11 | €18,592 | €18,015 | -€577 | -3.1% |
| Reserves | 13 | €13,859 | €13,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €87,325 | €108,864 | +€21,539 | +24.7% |
| Amounts payable | 17/49 | €9,738 | €22,935 | +€13,197 | +135.5% |
| Amounts payable within one year | 42/48 | €9,738 | €22,935 | +€13,197 | +135.5% |
| Trade debts | 44 | €939 | €9,810 | +€8,872 | +945.2% |
| Suppliers | 440/4 | €939 | €9,810 | +€8,872 | +945.2% |
| Taxes, remuneration and social security | 45 | €6,300 | €3,106 | -€3,194 | -50.7% |
| Taxes | 450/3 | - | €3,106 | +€3,106 | |
| Remuneration and social security | 454/9 | €6,300 | - | -€6,300 | |
| Other amounts payable | 47/48 | €2,500 | €10,019 | +€7,519 | +300.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,841 | €13,461 | -€5,380 | -28.6% |
| Other operating charges | 640/8 | €1,660 | €237 | -€1,423 | -85.7% |
| Gross operating margin | 9900 | €12,566 | €35,462 | +€22,897 | +182.2% |
| Operating profit (loss) | 9901 | -€7,935 | €21,764 | +€29,699 | |
| Financial charges | 65/66B | €396 | €226 | -€170 | -43.0% |
| Recurring financial charges | 65 | €396 | €226 | -€170 | -43.0% |
| Profit (loss) for the period before taxes | 9903 | -€8,331 | €21,539 | +€29,869 | |
| Income taxes | 67/77 | €467 | - | -€467 | |
| Profit (loss) for the period | 9904 | -€8,797 | €21,539 | +€30,336 | |
| Profit (loss) for the period to be appropriated | 9905 | -€8,797 | €21,539 | +€30,336 |
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 2 October 2026 via checked.be.