DERK: 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.
DERK
Largest movements
- Tangible fixed assets +€1.8m
up €1.8m (+18.3%), from €10.0m to €11.8m
of which Land and buildings: +€1.7m
- Receivables within one year -€270,621
down €270,621 (-57.2%), from €472,810 to €202,189
of which Other amounts receivable: -€250,449
- Cash -€164,094
down €164,094 (-75.1%), from €218,444 to €54,350
mainly Investment in fixed assets (net) (-€2.4m) and Short-term financial debts (-€120,000)
- Debts after one year +€1.0m
up €1.0m (+16.4%), from €6.2m to €7.2m
of which Financial debts: +€982,542
- Other debts +€219,563
up €219,563 (+49.7%), from €441,366 to €660,929
- Reserves +€154,016
up €154,016 (+6.8%), from €2.3m to €2.4m
of which Distributable reserves: +€225,542
- Gross operating margin -€95,137
down €95,137 (-7.8%), from €1.2m to €1.1m
- Depreciation +€37,524
up €37,524 (+7.2%), from €521,576 to €559,100
- Other operating charges +€35,276
up €35,276 (+28.0%), from €126,026 to €161,301
- Financial charges +€34,078
up €34,078 (+22.9%), from €148,960 to €183,038
- Taxes -€23,841
down €23,841 (-24.1%), from €99,036 to €75,196
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 | €10,732,829 | €12,120,079 | +€1.4m | +12.9% |
| Fixed assets | 21/28 | €9,990,584 | €11,815,735 | +€1.8m | +18.3% |
| Intangible fixed assets | 21 | €2,511 | €1,990 | -€520 | -20.7% |
| Tangible fixed assets | 22/27 | €9,988,073 | €11,813,745 | +€1.8m | +18.3% |
| Land and buildings | 22 | €9,790,261 | €11,494,287 | +€1.7m | +17.4% |
| Plant, machinery and equipment | 23 | €196,402 | €316,790 | +€120,388 | +61.3% |
| Furniture and vehicles | 24 | €1,410 | €2,668 | +€1,258 | +89.2% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €742,245 | €304,344 | -€437,901 | -59.0% |
| Amounts receivable after more than one year | 29 | €17,500 | €15,000 | -€2,500 | -14.3% |
| Other amounts receivable | 291 | €17,500 | €15,000 | -€2,500 | -14.3% |
| Amounts receivable within one year | 40/41 | €472,810 | €202,189 | -€270,621 | -57.2% |
| Trade receivables | 40 | €220,751 | €200,579 | -€20,172 | -9.1% |
| Other amounts receivable | 41 | €252,059 | €1,610 | -€250,449 | -99.4% |
| Cash at bank and in hand | 54/58 | €218,444 | €54,350 | -€164,094 | -75.1% |
| Deferred charges and accrued income | 490/1 | €33,491 | €32,804 | -€686 | -2.0% |
| Total equity and liabilities | 10/49 | €10,732,829 | €12,120,079 | +€1.4m | +12.9% |
| Equity | 10/15 | €2,857,454 | €3,011,470 | +€154,016 | +5.4% |
| Contributions | 10/11 | €605,000 | €605,000 | = | 0.0% |
| Capital | 10 | €605,000 | €605,000 | = | 0.0% |
| Issued capital | 100 | €605,000 | €605,000 | = | 0.0% |
| Reserves | 13 | €2,252,454 | €2,406,470 | +€154,016 | +6.8% |
| Non-distributable reserves | 130/1 | €60,500 | €60,500 | = | 0.0% |
| Legal reserve | 130 | €60,500 | €60,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,026,469 | €954,943 | -€71,526 | -7.0% |
| Distributable reserves | 133 | €1,165,485 | €1,391,027 | +€225,542 | +19.4% |
| Provisions and deferred taxes | 16 | €320,236 | €297,960 | -€22,276 | -7.0% |
| Deferred taxes | 168 | €320,236 | €297,960 | -€22,276 | -7.0% |
| Amounts payable | 17/49 | €7,555,139 | €8,810,649 | +€1.3m | +16.6% |
| Amounts payable after more than one year | 17 | €6,210,429 | €7,226,067 | +€1.0m | +16.4% |
| Financial debts | 170/4 | €6,058,968 | €7,041,510 | +€982,542 | +16.2% |
| Other amounts payable | 178/9 | €151,461 | €184,557 | +€33,095 | +21.9% |
| Amounts payable within one year | 42/48 | €1,328,863 | €1,572,925 | +€244,062 | +18.4% |
| Current portion of amounts payable after more than one year | 42 | €684,694 | €771,707 | +€87,013 | +12.7% |
| Financial debts | 43 | €155,000 | €35,000 | -€120,000 | -77.4% |
| Credit institutions | 430/8 | €155,000 | €35,000 | -€120,000 | -77.4% |
| Trade debts | 44 | €31,960 | €64,654 | +€32,694 | +102% |
| Suppliers | 440/4 | €31,960 | €64,654 | +€32,694 | +102% |
| Taxes, remuneration and social security | 45 | €15,844 | €40,636 | +€24,792 | +156% |
| Taxes | 450/3 | €15,844 | €40,636 | +€24,792 | +156% |
| Other amounts payable | 47/48 | €441,366 | €660,929 | +€219,563 | +49.7% |
| Accrued charges and deferred income | 492/3 | €15,846 | €11,658 | -€4,188 | -26.4% |
| Remuneration, social security and pensions | 62 | €143 | €0 | -€143 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €521,576 | €559,100 | +€37,524 | +7.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €17,193 | €21,161 | +€3,968 | +23.1% |
| Other operating charges | 640/8 | €126,026 | €161,301 | +€35,276 | +28.0% |
| Gross operating margin | 9900 | €1,226,223 | €1,131,086 | -€95,137 | -7.8% |
| Operating profit (loss) | 9901 | €561,286 | €389,524 | -€171,762 | -30.6% |
| Financial income | 75/76B | €0 | €449 | +€449 | +374,308% |
| Recurring financial income | 75 | €0 | €449 | +€449 | +374,308% |
| Financial charges | 65/66B | €148,960 | €183,038 | +€34,078 | +22.9% |
| Recurring financial charges | 65 | €148,960 | €183,038 | +€34,078 | +22.9% |
| Profit (loss) for the period before taxes | 9903 | €412,326 | €206,935 | -€205,390 | -49.8% |
| Transfer from deferred taxes | 780 | €23,508 | €22,276 | -€1,232 | -5.2% |
| Transfer to deferred taxes | 680 | €28,158 | €0 | -€28,158 | -100% |
| Income taxes | 67/77 | €99,036 | €75,196 | -€23,841 | -24.1% |
| Profit (loss) for the period | 9904 | €308,640 | €154,016 | -€154,624 | -50.1% |
| Transfer from tax-exempt reserves | 789 | €70,525 | €66,829 | -€3,696 | -5.2% |
| Transfer to tax-exempt reserves | 689 | €84,474 | €0 | -€84,474 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €294,691 | €220,845 | -€73,847 | -25.1% |
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.