Dereco: 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.
Dereco
Largest movements
- Tangible fixed assets -€7,479
down €7,479 (-5.4%), from €139,012 to €131,533
of which Furniture and vehicles: -€4,137
- Cash +€3,720
up €3,720 (+33.1%), from €11,226 to €14,946
mainly Depreciation (+€25,146) and Tax, wage and social debts (+€3,173)
- Receivables within one year +€3,516
up €3,516 (+84.7%), from €4,154 to €7,670
of which Trade receivables: +€4,658
- Debts after one year -€8,030
down €8,030 (-34.4%), from €23,308 to €15,279
- Tax, wage and social debts +€3,173
up €3,173 (+19.8%), from €16,009 to €19,182
- Accrued charges and deferred income +€3,015
up €3,015 (+19474.6%), from €15 to €3,030
- Reserves +€1,849
up €1,849 (+4.6%), from €39,799 to €41,647
- Gross operating margin -€41,451
down €41,451 (-55.7%), from €74,416 to €32,964
- Taxes -€12,595
down €12,595 (-89.3%), from €14,106 to €1,511
- Depreciation +€7,049
up €7,049 (+39.0%), from €18,097 to €25,146
- Financial charges +€2,059
up €2,059 (+101.9%), from €2,021 to €4,080
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 | €159,853 | €158,655 | -€1,198 | -0.7% |
| Fixed assets | 21/28 | €139,012 | €131,533 | -€7,479 | -5.4% |
| Tangible fixed assets | 22/27 | €139,012 | €131,533 | -€7,479 | -5.4% |
| Land and buildings | 22 | €58,892 | €56,449 | -€2,443 | -4.1% |
| Furniture and vehicles | 24 | €18,691 | €14,554 | -€4,137 | -22.1% |
| Other tangible fixed assets | 26 | €61,429 | €60,530 | -€900 | -1.5% |
| Current assets | 29/58 | €20,840 | €27,121 | +€6,281 | +30.1% |
| Amounts receivable within one year | 40/41 | €4,154 | €7,670 | +€3,516 | +84.7% |
| Trade receivables | 40 | €3,012 | €7,670 | +€4,658 | +154.7% |
| Other amounts receivable | 41 | €1,142 | - | -€1,142 | |
| Cash at bank and in hand | 54/58 | €11,226 | €14,946 | +€3,720 | +33.1% |
| Deferred charges and accrued income | 490/1 | €5,461 | €4,506 | -€955 | -17.5% |
| Total equity and liabilities | 10/49 | €159,853 | €158,655 | -€1,198 | -0.7% |
| Equity | 10/15 | €42,799 | €44,647 | +€1,849 | +4.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €39,799 | €41,647 | +€1,849 | +4.6% |
| Distributable reserves | 133 | €39,799 | €41,647 | +€1,849 | +4.6% |
| Amounts payable | 17/49 | €117,054 | €114,007 | -€3,047 | -2.6% |
| Amounts payable after more than one year | 17 | €23,308 | €15,279 | -€8,030 | -34.4% |
| Financial debts | 170/4 | €23,308 | €15,279 | -€8,030 | -34.4% |
| Amounts payable within one year | 42/48 | €93,730 | €95,698 | +€1,968 | +2.1% |
| Current portion of amounts payable after more than one year | 42 | €7,739 | €8,030 | +€290 | +3.8% |
| Trade debts | 44 | €12,807 | €11,903 | -€904 | -7.1% |
| Suppliers | 440/4 | €12,807 | €11,903 | -€904 | -7.1% |
| Advances received on contracts in progress | 46 | - | €189 | +€189 | |
| Taxes, remuneration and social security | 45 | €16,009 | €19,182 | +€3,173 | +19.8% |
| Taxes | 450/3 | €16,009 | €19,182 | +€3,173 | +19.8% |
| Other amounts payable | 47/48 | €57,175 | €56,395 | -€780 | -1.4% |
| Accrued charges and deferred income | 492/3 | €15 | €3,030 | +€3,015 | +19474.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,097 | €25,146 | +€7,049 | +39.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €310 | - | -€310 | |
| Other operating charges | 640/8 | €1,045 | €632 | -€413 | -39.5% |
| Gross operating margin | 9900 | €74,416 | €32,964 | -€41,451 | -55.7% |
| Operating profit (loss) | 9901 | €54,964 | €7,187 | -€47,778 | -86.9% |
| Financial income | 75/76B | €961 | €253 | -€708 | -73.7% |
| Recurring financial income | 75 | €961 | €253 | -€708 | -73.7% |
| Financial charges | 65/66B | €2,021 | €4,080 | +€2,059 | +101.9% |
| Recurring financial charges | 65 | €2,021 | €4,080 | +€2,059 | +101.9% |
| Profit (loss) for the period before taxes | 9903 | €53,905 | €3,359 | -€50,545 | -93.8% |
| Income taxes | 67/77 | €14,106 | €1,511 | -€12,595 | -89.3% |
| Profit (loss) for the period | 9904 | €39,799 | €1,849 | -€37,950 | -95.4% |
| Profit (loss) for the period to be appropriated | 9905 | €39,799 | €1,849 | -€37,950 | -95.4% |
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 6 October 2026 via checked.be.