DERES: 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.
What changed
DERES
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€32,443
2024 · €20,221-€52,664
Equity
€937,223
2024 · €969,666-€32,443
Cash
€14,536
2024 · €15,496-€959
Balance sheet total
€1.9m
2024 · €1.9m-€35,990
Largest movements
Assets
- Tangible fixed assets -€32,730
down €32,730 (-3.0%), from €1.1m to €1.1m
of which Land and buildings: -€35,661
Equity and liabilities
- Debts after one year -€22,370
down €22,370 (-25.4%), from €88,000 to €65,630
- Reserves -€20,000
down €20,000 (-12.0%), from €167,294 to €147,294
Income statement
- Gross operating margin -€45,937
down €45,937 (-23.5%), from €195,728 to €149,791
- Staff costs +€42,588
up €42,588 (+322%), from €13,231 to €55,819
- Taxes -€18,379
down €18,379 (-86.2%), from €21,325 to €2,947
- Financial charges -€10,860
down €10,860 (-16.2%), from €67,222 to €56,362
- Depreciation -€7,619
down €7,619 (-12.5%), from €61,017 to €53,398
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.
Result 2024
€20,221
Gross operating margin
-€45,937
Staff costs
-€42,588
Depreciation
+€7,619
Other operating charges
-€996
Financial income
-€1
Financial charges
+€10,860
Taxes
+€18,379
Result 2025
-€32,443
raises the resultlowers the result
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.
From operations
+€31,363
Investment
-€20,668
Financing
-€11,654
Cash 2024
€15,496
From operations (derived)
+€31,363
Net result for the year
-€32,443
Depreciation
+€53,398
Receivables within one year
+€917
Deferred charges and accrued income
+€1,384
Trade debts
+€12,875
Tax, wage and social debts
-€10,772
Other debts
+€12,364
Accrued charges and deferred income
-€6,359
Investment (derived)
-€20,668
Investment in fixed assets (net)
-€20,668
Financing
-€11,654
Debts after one year
-€22,370
Current portion of long-term debt
+€3,680
Short-term financial debts
+€7,037
Cash 2025
€14,536
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,908,921 | €1,872,931 | -€35,990 | -1.9% |
| Fixed assets | 21/28 | €1,859,989 | €1,827,259 | -€32,730 | -1.8% |
| Tangible fixed assets | 22/27 | €1,095,550 | €1,062,820 | -€32,730 | -3.0% |
| Land and buildings | 22 | €1,079,770 | €1,044,110 | -€35,661 | -3.3% |
| Plant, machinery and equipment | 23 | €4,431 | €5,442 | +€1,011 | +22.8% |
| Furniture and vehicles | 24 | €11,349 | €13,269 | +€1,919 | +16.9% |
| Financial fixed assets | 28 | €764,439 | €764,439 | = | 0.0% |
| Current assets | 29/58 | €48,933 | €45,672 | -€3,260 | -6.7% |
| Amounts receivable within one year | 40/41 | €30,399 | €29,482 | -€917 | -3.0% |
| Trade receivables | 40 | €17,845 | €2,772 | -€15,072 | -84.5% |
| Other amounts receivable | 41 | €12,555 | €26,710 | +€14,156 | +113% |
| Cash at bank and in hand | 54/58 | €15,496 | €14,536 | -€959 | -6.2% |
| Deferred charges and accrued income | 490/1 | €3,038 | €1,653 | -€1,384 | -45.6% |
| Total equity and liabilities | 10/49 | €1,908,921 | €1,872,931 | -€35,990 | -1.9% |
| Equity | 10/15 | €969,666 | €937,223 | -€32,443 | -3.3% |
| Contributions | 10/11 | €800,000 | €800,000 | = | 0.0% |
| Reserves | 13 | €167,294 | €147,294 | -€20,000 | -12.0% |
| Distributable reserves | 133 | €167,294 | €147,294 | -€20,000 | -12.0% |
| Profit (loss) carried forward | 14 | €2,371 | -€10,072 | -€12,443 | |
| Amounts payable | 17/49 | €939,256 | €935,709 | -€3,547 | -0.4% |
| Amounts payable after more than one year | 17 | €88,000 | €65,630 | -€22,370 | -25.4% |
| Financial debts | 170/4 | €88,000 | €65,630 | -€22,370 | -25.4% |
| Amounts payable within one year | 42/48 | €809,174 | €834,356 | +€25,183 | +3.1% |
| Current portion of amounts payable after more than one year | 42 | €41,674 | €45,354 | +€3,680 | +8.8% |
| Financial debts | 43 | €350,000 | €357,037 | +€7,037 | +2.0% |
| Credit institutions | 430/8 | - | €7,037 | +€7,037 | |
| Other loans | 439 | €350,000 | €350,000 | = | 0.0% |
| Trade debts | 44 | €7,625 | €20,499 | +€12,875 | +169% |
| Suppliers | 440/4 | €7,625 | €20,499 | +€12,875 | +169% |
| Taxes, remuneration and social security | 45 | €50,116 | €39,343 | -€10,772 | -21.5% |
| Taxes | 450/3 | €48,126 | €30,716 | -€17,410 | -36.2% |
| Remuneration and social security | 454/9 | €1,989 | €8,627 | +€6,638 | +334% |
| Other amounts payable | 47/48 | €359,759 | €372,123 | +€12,364 | +3.4% |
| Accrued charges and deferred income | 492/3 | €42,082 | €35,723 | -€6,359 | -15.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €13,231 | €55,819 | +€42,588 | +322% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,017 | €53,398 | -€7,619 | -12.5% |
| Other operating charges | 640/8 | €12,712 | €13,708 | +€996 | +7.8% |
| Gross operating margin | 9900 | €195,728 | €149,791 | -€45,937 | -23.5% |
| Operating profit (loss) | 9901 | €108,767 | €26,865 | -€81,902 | -75.3% |
| Financial income | 75/76B | €1 | €0 | -€1 | -100% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -100% |
| Financial charges | 65/66B | €67,222 | €56,362 | -€10,860 | -16.2% |
| Recurring financial charges | 65 | €67,222 | €56,362 | -€10,860 | -16.2% |
| Profit (loss) for the period before taxes | 9903 | €41,547 | -€29,496 | -€71,043 | |
| Income taxes | 67/77 | €21,325 | €2,947 | -€18,379 | -86.2% |
| Profit (loss) for the period | 9904 | €20,221 | -€32,443 | -€52,664 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,221 | -€32,443 | -€52,664 |
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 24 October 2026 via checked.be.