DERMACO: 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.
DERMACO
Largest movements
- Current investments -€214,274
down €214,274 (-65.0%), from €329,789 to €115,516
- Tangible fixed assets -€131,765
down €131,765 (-7.4%), from €1.8m to €1.6m
of which Land and buildings: -€217,177
- Receivables within one year -€60,055
down €60,055 (-79.5%), from €75,550 to €15,495
of which Trade receivables: -€55,055
- Cash -€27,266
down €27,266 (-31.2%), from €87,286 to €60,019
mainly Contributions, distributions and other (-€540,000) and Current portion of long-term debt (-€209,600)
- Contributions -€540,000
down €540,000 (-89.7%), from €602,000 to €62,000
- Reserves +€339,028
up €339,028 (+46.6%), from €726,971 to €1.1m
of which Distributable reserves: +€340,625
- Current portion of long-term debt -€209,600
down €209,600 (-84.5%), from €247,986 to €38,386
- Debts after one year -€38,386
down €38,386 (-6.1%), from €629,836 to €591,451
of which Financial debts: -€38,386
- Tax, wage and social debts +€25,117
up €25,117 (+169%), from €14,891 to €40,008
- Gross operating margin +€405,960
up €405,960 (+195%), from €208,252 to €614,212
- Taxes +€135,367
up €135,367 (+531%), from €25,470 to €160,838
- Turnover -€25,500
down €25,500 (-29.3%), from €87,000 to €61,500
- Financial income -€12,625
down €12,625 (-97.9%), from €12,897 to €272
- Purchases and services -€9,313
down €9,313 (-30.9%), from €30,095 to €20,782
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 | €2,335,105 | €1,894,458 | -€440,648 | -18.9% |
| Fixed assets | 21/28 | €1,771,534 | €1,639,769 | -€131,765 | -7.4% |
| Tangible fixed assets | 22/27 | €1,771,534 | €1,639,769 | -€131,765 | -7.4% |
| Land and buildings | 22 | €1,770,754 | €1,553,578 | -€217,177 | -12.3% |
| Other tangible fixed assets | 26 | €780 | €86,192 | +€85,412 | +10,950% |
| Current assets | 29/58 | €563,571 | €254,688 | -€308,883 | -54.8% |
| Stocks and contracts in progress | 3 | €62,300 | €62,300 | = | 0.0% |
| Stocks | 30/36 | €62,300 | €62,300 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €75,550 | €15,495 | -€60,055 | -79.5% |
| Trade receivables | 40 | €66,550 | €11,495 | -€55,055 | -82.7% |
| Other amounts receivable | 41 | €9,000 | €4,000 | -€5,000 | -55.6% |
| Current investments | 50/53 | €329,789 | €115,516 | -€214,274 | -65.0% |
| Cash at bank and in hand | 54/58 | €87,286 | €60,019 | -€27,266 | -31.2% |
| Deferred charges and accrued income | 490/1 | €8,646 | €1,358 | -€7,288 | -84.3% |
| Total equity and liabilities | 10/49 | €2,335,105 | €1,894,458 | -€440,648 | -18.9% |
| Equity | 10/15 | €1,347,051 | €1,147,158 | -€199,893 | -14.8% |
| Contributions | 10/11 | €602,000 | €62,000 | -€540,000 | -89.7% |
| Reserves | 13 | €726,971 | €1,065,999 | +€339,028 | +46.6% |
| Non-distributable reserves | 130/1 | €60,200 | €60,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €60,200 | €60,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €63,283 | €61,686 | -€1,597 | -2.5% |
| Distributable reserves | 133 | €603,488 | €944,113 | +€340,625 | +56.4% |
| Profit (loss) carried forward | 14 | €18,079 | €19,159 | +€1,079 | +6.0% |
| Provisions and deferred taxes | 16 | €21,094 | €20,562 | -€532 | -2.5% |
| Deferred taxes | 168 | €21,094 | €20,562 | -€532 | -2.5% |
| Amounts payable | 17/49 | €966,960 | €726,738 | -€240,223 | -24.8% |
| Amounts payable after more than one year | 17 | €629,836 | €591,451 | -€38,386 | -6.1% |
| Financial debts | 170/4 | €156,561 | €118,176 | -€38,386 | -24.5% |
| Other amounts payable | 178/9 | €473,275 | €473,275 | = | 0.0% |
| Amounts payable within one year | 42/48 | €277,999 | €90,819 | -€187,180 | -67.3% |
| Current portion of amounts payable after more than one year | 42 | €247,986 | €38,386 | -€209,600 | -84.5% |
| Trade debts | 44 | €612 | €323 | -€289 | -47.3% |
| Suppliers | 440/4 | €612 | €323 | -€289 | -47.3% |
| Taxes, remuneration and social security | 45 | €14,891 | €40,008 | +€25,117 | +169% |
| Taxes | 450/3 | €14,891 | €40,008 | +€25,117 | +169% |
| Other amounts payable | 47/48 | €14,511 | €12,103 | -€2,408 | -16.6% |
| Accrued charges and deferred income | 492/3 | €59,125 | €44,468 | -€14,657 | -24.8% |
| Turnover | 70 | €87,000 | €61,500 | -€25,500 | -29.3% |
| Non-recurring operating income | 76A | €79,818 | €499,790 | +€419,973 | +526% |
| Goods, raw materials, services and sundry goods | 60/61 | €30,095 | €20,782 | -€9,313 | -30.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,395 | €52,839 | -€8,556 | -13.9% |
| Other operating charges | 640/8 | €28,153 | €23,167 | -€4,985 | -17.7% |
| Non-recurring operating charges | 66A | €9,794 | - | -€9,794 | |
| Gross operating margin | 9900 | €208,252 | €614,212 | +€405,960 | +195% |
| Operating profit (loss) | 9901 | €108,911 | €538,205 | +€429,294 | +394% |
| Financial income | 75/76B | €12,897 | €272 | -€12,625 | -97.9% |
| Recurring financial income | 75 | €12,897 | €272 | -€12,625 | -97.9% |
| Financial charges | 65/66B | €43,511 | €38,064 | -€5,447 | -12.5% |
| Recurring financial charges | 65 | €43,511 | €38,064 | -€5,447 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | €78,297 | €500,413 | +€422,116 | +539% |
| Transfer from deferred taxes | 780 | €532 | €532 | = | 0.0% |
| Income taxes | 67/77 | €25,470 | €160,838 | +€135,367 | +531% |
| Profit (loss) for the period | 9904 | €53,359 | €340,107 | +€286,748 | +537% |
| Transfer from tax-exempt reserves | 789 | €1,597 | €1,597 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €54,956 | €341,704 | +€286,748 | +522% |
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.