DERMAX: 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.
DERMAX
Largest movements
- Receivables within one year -€858,897
down €858,897 (-23.7%), from €3.6m to €2.8m
of which Trade receivables: -€1.7m
- Cash -€89,265
down €89,265 (-34.7%), from €257,494 to €168,229
mainly Trade debts (-€1.2m) and Investment in fixed assets (net) (-€308,788)
- Receivables after one year +€78,649
new in 2025: €78,649
- Trade debts -€1.2m
down €1.2m (-73.6%), from €1.6m to €414,335
- Profit (loss) carried forward +€517,589
up €517,589 (+35.3%), from €1.5m to €2.0m
- Accrued charges and deferred income -€149,810
no longer reported in 2025 (was €149,810)
- Gross operating margin -€2.1m
down €2.1m (-63.6%), from €3.3m to €1.2m
- Turnover +€1.6m
new in 2025: €1.6m
- Purchases and services +€810,536
up €810,536 (+16246.5%), from €4,989 to €815,525
- Taxes +€295,445
up €295,445 (+296.5%), from €99,633 to €395,078
- Depreciation -€174,480
down €174,480 (-39.9%), from €437,629 to €263,149
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 | €6,550,807 | €5,726,933 | -€823,874 | -12.6% |
| Fixed assets | 21/28 | €2,665,712 | €2,711,351 | +€45,639 | +1.7% |
| Intangible fixed assets | 21 | €2,665,712 | €2,711,351 | +€45,639 | +1.7% |
| Current assets | 29/58 | €3,885,095 | €3,015,582 | -€869,513 | -22.4% |
| Amounts receivable after more than one year | 29 | - | €78,649 | +€78,649 | |
| Other amounts receivable | 291 | - | €78,649 | +€78,649 | |
| Amounts receivable within one year | 40/41 | €3,627,601 | €2,768,704 | -€858,897 | -23.7% |
| Trade receivables | 40 | €3,184,837 | €1,477,025 | -€1.7m | -53.6% |
| Other amounts receivable | 41 | €442,764 | €1,291,679 | +€848,915 | +191.7% |
| Cash at bank and in hand | 54/58 | €257,494 | €168,229 | -€89,265 | -34.7% |
| Total equity and liabilities | 10/49 | €6,550,807 | €5,726,933 | -€823,874 | -12.6% |
| Equity | 10/15 | €4,795,009 | €5,312,598 | +€517,589 | +10.8% |
| Contributions | 10/11 | €3,250,022 | €3,250,022 | = | 0.0% |
| Capital | 10 | €2,183,505 | €2,183,505 | = | 0.0% |
| Issued capital | 100 | €2,183,505 | €2,183,505 | = | 0.0% |
| Outside capital | 11 | €1,066,517 | €1,066,517 | = | 0.0% |
| Share premium | 1100/10 | €1,066,517 | €1,066,517 | = | 0.0% |
| Reserves | 13 | €77,249 | €77,249 | = | 0.0% |
| Non-distributable reserves | 130/1 | €77,249 | €77,249 | = | 0.0% |
| Legal reserve | 130 | €77,249 | €77,249 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,467,738 | €1,985,327 | +€517,589 | +35.3% |
| Amounts payable | 17/49 | €1,755,798 | €414,335 | -€1.3m | -76.4% |
| Amounts payable within one year | 42/48 | €1,605,988 | €414,335 | -€1.2m | -74.2% |
| Trade debts | 44 | €1,569,922 | €414,335 | -€1.2m | -73.6% |
| Suppliers | 440/4 | €1,569,922 | €414,335 | -€1.2m | -73.6% |
| Taxes, remuneration and social security | 45 | €36,066 | - | -€36,066 | |
| Taxes | 450/3 | €36,066 | - | -€36,066 | |
| Accrued charges and deferred income | 492/3 | €149,810 | - | -€149,810 | |
| Turnover | 70 | - | €1,554,264 | +€1.6m | |
| Goods, raw materials, services and sundry goods | 60/61 | €4,989 | €815,525 | +€810,536 | +16246.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €437,629 | €263,149 | -€174,480 | -39.9% |
| Other operating charges | 640/8 | €1,473 | €1,439 | -€34 | -2.3% |
| Gross operating margin | 9900 | €3,302,198 | €1,202,474 | -€2.1m | -63.6% |
| Operating profit (loss) | 9901 | €2,863,096 | €937,886 | -€1.9m | -67.2% |
| Financial income | 75/76B | €45,668 | €31,347 | -€14,321 | -31.4% |
| Recurring financial income | 75 | €45,668 | €31,347 | -€14,321 | -31.4% |
| Financial charges | 65/66B | €179,038 | €56,566 | -€122,472 | -68.4% |
| Recurring financial charges | 65 | €179,038 | €56,566 | -€122,472 | -68.4% |
| Profit (loss) for the period before taxes | 9903 | €2,729,726 | €912,667 | -€1.8m | -66.6% |
| Income taxes | 67/77 | €99,633 | €395,078 | +€295,445 | +296.5% |
| Profit (loss) for the period | 9904 | €2,630,093 | €517,589 | -€2.1m | -80.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,630,093 | €517,589 | -€2.1m | -80.3% |
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 28 September 2026 via checked.be.