DERM: 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.
DERM
Largest movements
- Cash -€51,820
down €51,820 (-97.6%), from €53,105 to €1,285
mainly Investment in fixed assets (net) (-€60,776) and Receivables within one year (-€25,970)
- Tangible fixed assets +€47,529
up €47,529 (+59.9%), from €79,411 to €126,940
of which Other tangible fixed assets: +€40,776
- Receivables within one year +€25,970
up €25,970 (+59.1%), from €43,921 to €69,891
of which Trade receivables: +€26,258
- Other debts +€18,975
up €18,975 (+5043.1%), from €376 to €19,351
- Reserves +€12,343
up €12,343 (+8.2%), from €150,085 to €162,428
- Trade debts -€7,771
down €7,771 (-67.2%), from €11,563 to €3,792
- Gross operating margin -€14,570
down €14,570 (-32.6%), from €44,699 to €30,129
- Depreciation +€11,741
up €11,741 (+779.4%), from €1,506 to €13,247
- Taxes -€6,712
down €6,712 (-64.3%), from €10,446 to €3,734
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 | €179,378 | €202,219 | +€22,842 | +12.7% |
| Fixed assets | 21/28 | €79,411 | €126,940 | +€47,529 | +59.9% |
| Tangible fixed assets | 22/27 | €79,411 | €126,940 | +€47,529 | +59.9% |
| Plant, machinery and equipment | 23 | €3,624 | €10,377 | +€6,753 | +186.3% |
| Other tangible fixed assets | 26 | €75,787 | €116,562 | +€40,776 | +53.8% |
| Current assets | 29/58 | €99,967 | €75,279 | -€24,687 | -24.7% |
| Amounts receivable within one year | 40/41 | €43,921 | €69,891 | +€25,970 | +59.1% |
| Trade receivables | 40 | €37,368 | €63,626 | +€26,258 | +70.3% |
| Other amounts receivable | 41 | €6,554 | €6,266 | -€288 | -4.4% |
| Cash at bank and in hand | 54/58 | €53,105 | €1,285 | -€51,820 | -97.6% |
| Deferred charges and accrued income | 490/1 | €2,941 | €4,103 | +€1,162 | +39.5% |
| Total equity and liabilities | 10/49 | €179,378 | €202,219 | +€22,842 | +12.7% |
| Equity | 10/15 | €160,085 | €172,428 | +€12,343 | +7.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €150,085 | €162,428 | +€12,343 | +8.2% |
| Distributable reserves | 133 | €150,085 | €162,428 | +€12,343 | +8.2% |
| Amounts payable | 17/49 | €19,292 | €29,791 | +€10,498 | +54.4% |
| Amounts payable within one year | 42/48 | €18,692 | €29,791 | +€11,098 | +59.4% |
| Trade debts | 44 | €11,563 | €3,792 | -€7,771 | -67.2% |
| Suppliers | 440/4 | €11,563 | €3,792 | -€7,771 | -67.2% |
| Taxes, remuneration and social security | 45 | €6,753 | €6,648 | -€105 | -1.6% |
| Taxes | 450/3 | €6,753 | €6,648 | -€105 | -1.6% |
| Other amounts payable | 47/48 | €376 | €19,351 | +€18,975 | +5043.1% |
| Accrued charges and deferred income | 492/3 | €600 | €0 | -€600 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,506 | €13,247 | +€11,741 | +779.4% |
| Other operating charges | 640/8 | €569 | €585 | +€16 | +2.9% |
| Gross operating margin | 9900 | €44,699 | €30,129 | -€14,570 | -32.6% |
| Operating profit (loss) | 9901 | €42,624 | €16,296 | -€26,328 | -61.8% |
| Financial charges | 65/66B | €213 | €218 | +€6 | +2.7% |
| Recurring financial charges | 65 | €213 | €218 | +€6 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €42,411 | €16,078 | -€26,333 | -62.1% |
| Income taxes | 67/77 | €10,446 | €3,734 | -€6,712 | -64.3% |
| Profit (loss) for the period | 9904 | €31,965 | €12,343 | -€19,621 | -61.4% |
| Profit (loss) for the period to be appropriated | 9905 | €31,965 | €12,343 | -€19,621 | -61.4% |
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 12 October 2026 via checked.be.