DERCB: 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.
DERCB
Largest movements
- Current investments +€150,000
up €150,000 (+60.0%), from €250,000 to €400,000
- Tangible fixed assets +€49,930
up €49,930 (+11.5%), from €432,780 to €482,710
of which Plant, machinery and equipment: +€63,861
- Cash -€18,389
down €18,389 (-10.2%), from €180,811 to €162,421
mainly Current investments (-€150,000) and Investment in fixed assets (net) (-€87,648)
- Receivables within one year +€11,748
up €11,748 (+112%), from €10,526 to €22,274
- Reserves +€248,126
up €248,126 (+39.8%), from €622,708 to €870,834
- Debts after one year -€61,551
down €61,551 (-56.7%), from €108,561 to €47,010
- Gross operating margin +€88,677
up €88,677 (+25.9%), from €342,534 to €431,211
- Taxes +€23,154
up €23,154 (+26.6%), from €86,992 to €110,145
- Depreciation +€14,308
up €14,308 (+61.1%), from €23,410 to €37,718
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.
Derived cash bridge
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 | €878,057 | €1,071,479 | +€193,423 | +22.0% |
| Fixed assets | 21/28 | €432,780 | €482,710 | +€49,930 | +11.5% |
| Tangible fixed assets | 22/27 | €432,780 | €482,710 | +€49,930 | +11.5% |
| Land and buildings | 22 | €406,109 | €393,079 | -€13,030 | -3.2% |
| Plant, machinery and equipment | 23 | €21,489 | €85,351 | +€63,861 | +297% |
| Furniture and vehicles | 24 | €5,182 | €4,280 | -€902 | -17.4% |
| Current assets | 29/58 | €445,276 | €588,769 | +€143,493 | +32.2% |
| Amounts receivable within one year | 40/41 | €10,526 | €22,274 | +€11,748 | +112% |
| Trade receivables | 40 | €10,526 | €22,274 | +€11,748 | +112% |
| Current investments | 50/53 | €250,000 | €400,000 | +€150,000 | +60.0% |
| Cash at bank and in hand | 54/58 | €180,811 | €162,421 | -€18,389 | -10.2% |
| Deferred charges and accrued income | 490/1 | €3,939 | €4,073 | +€134 | +3.4% |
| Total equity and liabilities | 10/49 | €878,057 | €1,071,479 | +€193,423 | +22.0% |
| Equity | 10/15 | €641,308 | €889,434 | +€248,126 | +38.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €622,708 | €870,834 | +€248,126 | +39.8% |
| Distributable reserves | 133 | €622,708 | €870,834 | +€248,126 | +39.8% |
| Amounts payable | 17/49 | €236,748 | €182,045 | -€54,703 | -23.1% |
| Amounts payable after more than one year | 17 | €108,561 | €47,010 | -€61,551 | -56.7% |
| Financial debts | 170/4 | €108,561 | €47,010 | -€61,551 | -56.7% |
| Amounts payable within one year | 42/48 | €128,187 | €131,303 | +€3,116 | +2.4% |
| Current portion of amounts payable after more than one year | 42 | €60,286 | €61,551 | +€1,265 | +2.1% |
| Trade debts | 44 | €2,014 | €1,382 | -€632 | -31.4% |
| Suppliers | 440/4 | €2,014 | €1,382 | -€632 | -31.4% |
| Taxes, remuneration and social security | 45 | €10,275 | €14,627 | +€4,352 | +42.4% |
| Taxes | 450/3 | €6,754 | €10,181 | +€3,427 | +50.7% |
| Remuneration and social security | 454/9 | €3,521 | €4,446 | +€925 | +26.3% |
| Other amounts payable | 47/48 | €55,612 | €53,743 | -€1,869 | -3.4% |
| Accrued charges and deferred income | 492/3 | - | €3,732 | +€3,732 | |
| Remuneration, social security and pensions | 62 | €28,189 | €32,087 | +€3,899 | +13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,410 | €37,718 | +€14,308 | +61.1% |
| Other operating charges | 640/8 | €2,004 | €2,147 | +€143 | +7.1% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €342,534 | €431,211 | +€88,677 | +25.9% |
| Operating profit (loss) | 9901 | €288,932 | €359,259 | +€70,327 | +24.3% |
| Financial income | 75/76B | €5,494 | €6,910 | +€1,417 | +25.8% |
| Recurring financial income | 75 | €5,494 | €6,910 | +€1,417 | +25.8% |
| Financial charges | 65/66B | €9,257 | €7,898 | -€1,360 | -14.7% |
| Recurring financial charges | 65 | €9,257 | €7,898 | -€1,360 | -14.7% |
| Profit (loss) for the period before taxes | 9903 | €285,168 | €358,272 | +€73,103 | +25.6% |
| Income taxes | 67/77 | €86,992 | €110,145 | +€23,154 | +26.6% |
| Profit (loss) for the period | 9904 | €198,176 | €248,126 | +€49,950 | +25.2% |
| Profit (loss) for the period to be appropriated | 9905 | €198,176 | €248,126 | +€49,950 | +25.2% |
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 14 October 2026 via checked.be.