DEREY: 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.
What changed
DEREY
NACE 41.001, General construction of residential buildings
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€185,349
2024 · €154,212+€31,137
Equity
€700,663
2024 · €685,313+€15,349
Cash
€87,184
2024 · €635,999-€548,815
Balance sheet total
€4.9m
2024 · €4.7m+€213,867
Largest movements
Assets
- Cash -€548,815
down €548,815 (-86.3%), from €635,999 to €87,184
mainly Receivables after one year (-€500,000) and Receivables within one year (-€437,842)
- Receivables after one year +€500,000
new in 2025: €500,000
- Receivables within one year +€437,842
up €437,842 (+13.3%), from €3.3m to €3.7m
of which Trade receivables: +€495,611
- Tangible fixed assets -€186,150
down €186,150 (-25.8%), from €722,281 to €536,132
of which Other tangible fixed assets: -€153,300
Equity and liabilities
- Tax, wage and social debts +€380,491
up €380,491 (+146.6%), from €259,463 to €639,954
of which Taxes: +€252,523
- Trade debts -€220,461
down €220,461 (-10.6%), from €2.1m to €1.9m
- Other debts +€170,000
new in 2025: €170,000
- Debts after one year -€57,190
down €57,190 (-11.3%), from €504,799 to €447,610
of which Financial debts: -€42,998
Income statement
- Gross operating margin +€298,850
up €298,850 (+10.1%), from €3.0m to €3.3m
- Staff costs +€149,261
up €149,261 (+5.8%), from €2.6m to €2.7m
- Taxes +€52,242
up €52,242 (+107.2%), from €48,729 to €100,972
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
€154,212
Gross operating margin
+€298,850
Staff costs
-€149,261
Depreciation
-€22,742
Other operating charges
-€13,900
Other operating items
+€3,489
Financial income
-€10,267
Financial charges
-€22,791
Taxes
-€52,242
Result 2025
€185,349
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.
From operations
-€317,013
Investment
+€44,898
Financing
-€276,699
Cash 2024
€635,999
From operations (derived)
-€317,013
Net result for the year
+€185,349
Depreciation
+€141,252
Receivables after one year
-€500,000
Stocks and contracts
-€13,682
Receivables within one year
-€437,842
Deferred charges and accrued income
+€2,692
Trade debts
-€220,461
Tax, wage and social debts
+€380,491
Advances received
-€24,812
Other debts
+€170,000
Investment (derived)
+€44,898
Investment in fixed assets (net)
+€44,898
Financing
-€276,699
Debts after one year
-€57,190
Current portion of long-term debt
-€12,221
Short-term financial debts
-€37,288
Contributions, distributions and other
-€170,000
Cash 2025
€87,184
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,734,101 | €4,947,969 | +€213,867 | +4.5% |
| Fixed assets | 21/28 | €722,405 | €536,256 | -€186,150 | -25.8% |
| Tangible fixed assets | 22/27 | €722,281 | €536,132 | -€186,150 | -25.8% |
| Plant, machinery and equipment | 23 | €54,959 | €47,724 | -€7,235 | -13.2% |
| Furniture and vehicles | 24 | €105,966 | €87,877 | -€18,089 | -17.1% |
| Leasing and similar rights | 25 | €33,394 | €25,868 | -€7,526 | -22.5% |
| Other tangible fixed assets | 26 | €527,962 | €374,663 | -€153,300 | -29.0% |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €4,011,696 | €4,411,713 | +€400,017 | +10.0% |
| Amounts receivable after more than one year | 29 | - | €500,000 | +€500,000 | |
| Other amounts receivable | 291 | - | €500,000 | +€500,000 | |
| Stocks and contracts in progress | 3 | €78,247 | €91,929 | +€13,682 | +17.5% |
| Stocks | 30/36 | €78,247 | €91,929 | +€13,682 | +17.5% |
| Amounts receivable within one year | 40/41 | €3,283,870 | €3,721,711 | +€437,842 | +13.3% |
| Trade receivables | 40 | €3,001,874 | €3,497,485 | +€495,611 | +16.5% |
| Other amounts receivable | 41 | €281,996 | €224,227 | -€57,769 | -20.5% |
| Current investments | 50/53 | €3,435 | €3,435 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €635,999 | €87,184 | -€548,815 | -86.3% |
| Deferred charges and accrued income | 490/1 | €10,146 | €7,454 | -€2,692 | -26.5% |
| Total equity and liabilities | 10/49 | €4,734,101 | €4,947,969 | +€213,867 | +4.5% |
| Equity | 10/15 | €685,313 | €700,663 | +€15,349 | +2.2% |
| Contributions | 10/11 | €34,226 | €34,226 | = | 0.0% |
| Reserves | 13 | €651,088 | €666,437 | +€15,349 | +2.4% |
| Non-distributable reserves | 130/1 | €212,800 | €212,800 | = | 0.0% |
| Reserves not available under the articles | 1311 | €212,800 | €212,800 | = | 0.0% |
| Tax-exempt reserves | 132 | €21,300 | €21,300 | = | 0.0% |
| Distributable reserves | 133 | €416,988 | €432,337 | +€15,349 | +3.7% |
| Amounts payable | 17/49 | €4,048,788 | €4,247,306 | +€198,518 | +4.9% |
| Amounts payable after more than one year | 17 | €504,799 | €447,610 | -€57,190 | -11.3% |
| Financial debts | 170/4 | €159,601 | €116,603 | -€42,998 | -26.9% |
| Advances received on contracts in progress | 176 | €345,199 | €331,007 | -€14,192 | -4.1% |
| Amounts payable within one year | 42/48 | €3,543,989 | €3,799,696 | +€255,708 | +7.2% |
| Current portion of amounts payable after more than one year | 42 | €55,219 | €42,998 | -€12,221 | -22.1% |
| Financial debts | 43 | €400,000 | €362,712 | -€37,288 | -9.3% |
| Credit institutions | 430/8 | - | €2,712 | +€2,712 | |
| Other loans | 439 | €400,000 | €360,000 | -€40,000 | -10.0% |
| Trade debts | 44 | €2,075,590 | €1,855,129 | -€220,461 | -10.6% |
| Suppliers | 440/4 | €2,075,590 | €1,855,129 | -€220,461 | -10.6% |
| Advances received on contracts in progress | 46 | €753,716 | €728,904 | -€24,812 | -3.3% |
| Taxes, remuneration and social security | 45 | €259,463 | €639,954 | +€380,491 | +146.6% |
| Taxes | 450/3 | €124,717 | €377,240 | +€252,523 | +202.5% |
| Remuneration and social security | 454/9 | €134,746 | €262,715 | +€127,969 | +95.0% |
| Other amounts payable | 47/48 | - | €170,000 | +€170,000 | |
| Non-recurring operating income | 76A | - | €6,198 | +€6,198 | |
| Remuneration, social security and pensions | 62 | €2,584,588 | €2,733,849 | +€149,261 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €118,510 | €141,252 | +€22,742 | +19.2% |
| Other operating charges | 640/8 | €10,753 | €24,652 | +€13,900 | +129.3% |
| Non-recurring operating charges | 66A | €3,739 | €250 | -€3,489 | -93.3% |
| Gross operating margin | 9900 | €2,955,604 | €3,254,455 | +€298,850 | +10.1% |
| Operating profit (loss) | 9901 | €238,015 | €354,452 | +€116,437 | +48.9% |
| Financial income | 75/76B | €10,413 | €146 | -€10,267 | -98.6% |
| Recurring financial income | 75 | €10,413 | €146 | -€10,267 | -98.6% |
| Financial charges | 65/66B | €45,486 | €68,277 | +€22,791 | +50.1% |
| Recurring financial charges | 65 | €45,486 | €68,277 | +€22,791 | +50.1% |
| Profit (loss) for the period before taxes | 9903 | €202,941 | €286,321 | +€83,380 | +41.1% |
| Income taxes | 67/77 | €48,729 | €100,972 | +€52,242 | +107.2% |
| Profit (loss) for the period | 9904 | €154,212 | €185,349 | +€31,137 | +20.2% |
| Profit (loss) for the period to be appropriated | 9905 | €154,212 | €185,349 | +€31,137 | +20.2% |
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 1 October 2026 via checked.be.