DERENNE Joël: 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.
DERENNE Joël
Largest movements
- Stocks and contracts +€117,117
up €117,117 (+97.5%), from €120,084 to €237,201
- Cash -€75,289
down €75,289 (-12.5%), from €600,052 to €524,763
mainly Contributions, distributions and other (-€183,822) and Stocks and contracts (-€117,117)
- Receivables within one year -€74,345
down €74,345 (-24.3%), from €305,717 to €231,371
of which Trade receivables: -€84,225
- Tangible fixed assets -€18,940
down €18,940 (-3.5%), from €546,224 to €527,284
of which Leasing and similar rights: -€20,726
- Reserves -€103,822
down €103,822 (-26.4%), from €393,910 to €290,088
of which Distributable reserves: -€103,822
- Debts after one year -€38,810
down €38,810 (-15.2%), from €254,754 to €215,944
- Profit (loss) carried forward +€32,252
up €32,252 (+6.3%), from €514,753 to €547,005
- Tax, wage and social debts +€30,829
up €30,829 (+36.2%), from €85,086 to €115,915
of which Taxes: +€19,911
- Trade debts +€22,553
up €22,553 (+9.3%), from €242,698 to €265,251
- Financial income -€24,511
down €24,511 (-89.4%), from €27,429 to €2,918
- Taxes -€11,652
down €11,652 (-19.9%), from €58,585 to €46,933
- Staff costs +€10,136
up €10,136 (+2.3%), from €442,043 to €452,179
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 | €1,584,776 | €1,535,013 | -€49,762 | -3.1% |
| Fixed assets | 21/28 | €546,577 | €527,637 | -€18,940 | -3.5% |
| Tangible fixed assets | 22/27 | €546,224 | €527,284 | -€18,940 | -3.5% |
| Land and buildings | 22 | €141,933 | €133,493 | -€8,441 | -5.9% |
| Plant, machinery and equipment | 23 | €25,945 | €33,802 | +€7,857 | +30.3% |
| Furniture and vehicles | 24 | €76,922 | €73,659 | -€3,264 | -4.2% |
| Leasing and similar rights | 25 | €299,995 | €279,269 | -€20,726 | -6.9% |
| Other tangible fixed assets | 26 | €1,429 | €7,062 | +€5,633 | +394% |
| Financial fixed assets | 28 | €353 | €353 | = | 0.0% |
| Current assets | 29/58 | €1,038,199 | €1,007,377 | -€30,822 | -3.0% |
| Stocks and contracts in progress | 3 | €120,084 | €237,201 | +€117,117 | +97.5% |
| Stocks | 30/36 | €120,084 | €237,201 | +€117,117 | +97.5% |
| Amounts receivable within one year | 40/41 | €305,717 | €231,371 | -€74,345 | -24.3% |
| Trade receivables | 40 | €280,866 | €196,642 | -€84,225 | -30.0% |
| Other amounts receivable | 41 | €24,850 | €34,729 | +€9,879 | +39.8% |
| Cash at bank and in hand | 54/58 | €600,052 | €524,763 | -€75,289 | -12.5% |
| Deferred charges and accrued income | 490/1 | €12,346 | €14,042 | +€1,696 | +13.7% |
| Total equity and liabilities | 10/49 | €1,584,776 | €1,535,013 | -€49,762 | -3.1% |
| Equity | 10/15 | €927,263 | €855,693 | -€71,570 | -7.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €393,910 | €290,088 | -€103,822 | -26.4% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €375,160 | €271,338 | -€103,822 | -27.7% |
| Profit (loss) carried forward | 14 | €514,753 | €547,005 | +€32,252 | +6.3% |
| Provisions and deferred taxes | 16 | €35,000 | €35,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €35,000 | €35,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €35,000 | €35,000 | = | 0.0% |
| Amounts payable | 17/49 | €622,513 | €644,320 | +€21,807 | +3.5% |
| Amounts payable after more than one year | 17 | €254,754 | €215,944 | -€38,810 | -15.2% |
| Financial debts | 170/4 | €254,754 | €215,944 | -€38,810 | -15.2% |
| Amounts payable within one year | 42/48 | €367,227 | €427,833 | +€60,606 | +16.5% |
| Current portion of amounts payable after more than one year | 42 | €32,957 | €34,651 | +€1,694 | +5.1% |
| Trade debts | 44 | €242,698 | €265,251 | +€22,553 | +9.3% |
| Suppliers | 440/4 | €242,698 | €265,251 | +€22,553 | +9.3% |
| Taxes, remuneration and social security | 45 | €85,086 | €115,915 | +€30,829 | +36.2% |
| Taxes | 450/3 | €67,987 | €87,898 | +€19,911 | +29.3% |
| Remuneration and social security | 454/9 | €17,099 | €28,017 | +€10,918 | +63.9% |
| Other amounts payable | 47/48 | €6,486 | €12,016 | +€5,531 | +85.3% |
| Accrued charges and deferred income | 492/3 | €531 | €543 | +€11 | +2.2% |
| Remuneration, social security and pensions | 62 | €442,043 | €452,179 | +€10,136 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €60,625 | €61,750 | +€1,125 | +1.9% |
| Other operating charges | 640/8 | €3,411 | €3,813 | +€403 | +11.8% |
| Non-recurring operating charges | 66A | - | €9,904 | +€9,904 | |
| Gross operating margin | 9900 | €691,230 | €696,882 | +€5,651 | +0.8% |
| Operating profit (loss) | 9901 | €185,151 | €169,235 | -€15,916 | -8.6% |
| Financial income | 75/76B | €27,429 | €2,918 | -€24,511 | -89.4% |
| Recurring financial income | 75 | €27,429 | €2,918 | -€24,511 | -89.4% |
| Financial charges | 65/66B | €12,116 | €12,967 | +€851 | +7.0% |
| Recurring financial charges | 65 | €12,116 | €12,967 | +€851 | +7.0% |
| Profit (loss) for the period before taxes | 9903 | €200,464 | €159,186 | -€41,278 | -20.6% |
| Income taxes | 67/77 | €58,585 | €46,933 | -€11,652 | -19.9% |
| Profit (loss) for the period | 9904 | €141,879 | €112,252 | -€29,627 | -20.9% |
| Profit (loss) for the period to be appropriated | 9905 | €141,879 | €112,252 | -€29,627 | -20.9% |
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 23 October 2026 via checked.be.