DEROO-PAUWELYN: 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.
DEROO-PAUWELYN
Largest movements
- Cash -€80,459
down €80,459 (-66.7%), from €120,650 to €40,191
mainly Investment in fixed assets (net) (-€75,276) and Debts after one year (-€74,498)
- Receivables within one year +€54,759
up €54,759 (+102%), from €53,925 to €108,683
of which Trade receivables: +€54,759
- Tangible fixed assets +€28,945
up €28,945 (+18.5%), from €156,247 to €185,191
of which Furniture and vehicles: +€52,667
- Stocks and contracts -€6,142
down €6,142 (-10.7%), from €57,328 to €51,186
- Reserves +€88,214
up €88,214 (+50.0%), from €176,440 to €264,654
- Debts after one year -€74,498
down €74,498 (-100%), from €74,498 to €0
- Current portion of long-term debt -€14,190
down €14,190 (-100%), from €14,190 to €0
- Other debts -€6,934
down €6,934 (-3.2%), from €216,101 to €209,166
- Trade debts +€5,871
up €5,871 (+122%), from €4,816 to €10,686
- Gross operating margin +€51,081
up €51,081 (+44.1%), from €115,779 to €166,860
- Taxes +€14,352
up €14,352 (+72.5%), from €19,804 to €34,156
- Financial charges -€11,326
down €11,326 (-60.2%), from €18,811 to €7,484
- Financial income +€11,255
up €11,255 (+721%), from €1,560 to €12,815
of which Non-recurring financial income: +€10,000
- Depreciation +€9,676
up €9,676 (+26.4%), from €36,655 to €46,331
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 | €536,976 | €531,441 | -€5,534 | -1.0% |
| Fixed assets | 21/28 | €156,247 | €185,191 | +€28,945 | +18.5% |
| Tangible fixed assets | 22/27 | €156,247 | €185,191 | +€28,945 | +18.5% |
| Land and buildings | 22 | €101,795 | €84,601 | -€17,193 | -16.9% |
| Plant, machinery and equipment | 23 | €19,426 | €12,898 | -€6,529 | -33.6% |
| Furniture and vehicles | 24 | €35,026 | €87,692 | +€52,667 | +150% |
| Current assets | 29/58 | €380,729 | €346,250 | -€34,479 | -9.1% |
| Stocks and contracts in progress | 3 | €57,328 | €51,186 | -€6,142 | -10.7% |
| Stocks | 30/36 | €57,328 | €51,186 | -€6,142 | -10.7% |
| Amounts receivable within one year | 40/41 | €53,925 | €108,683 | +€54,759 | +102% |
| Trade receivables | 40 | €53,925 | €108,683 | +€54,759 | +102% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €133,109 | €134,388 | +€1,279 | +1.0% |
| Cash at bank and in hand | 54/58 | €120,650 | €40,191 | -€80,459 | -66.7% |
| Deferred charges and accrued income | 490/1 | €15,717 | €11,801 | -€3,916 | -24.9% |
| Total equity and liabilities | 10/49 | €536,976 | €531,441 | -€5,534 | -1.0% |
| Equity | 10/15 | €196,440 | €284,654 | +€88,214 | +44.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €176,440 | €264,654 | +€88,214 | +50.0% |
| Distributable reserves | 133 | €176,440 | €264,654 | +€88,214 | +50.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €340,536 | €246,787 | -€93,749 | -27.5% |
| Amounts payable after more than one year | 17 | €74,498 | €0 | -€74,498 | -100% |
| Financial debts | 170/4 | €74,498 | €0 | -€74,498 | -100% |
| Amounts payable within one year | 42/48 | €258,814 | €245,345 | -€13,469 | -5.2% |
| Current portion of amounts payable after more than one year | 42 | €14,190 | €0 | -€14,190 | -100% |
| Financial debts | 43 | €21 | €0 | -€21 | -100% |
| Credit institutions | 430/8 | €21 | €0 | -€21 | -100% |
| Trade debts | 44 | €4,816 | €10,686 | +€5,871 | +122% |
| Suppliers | 440/4 | €4,816 | €10,686 | +€5,871 | +122% |
| Taxes, remuneration and social security | 45 | €23,686 | €25,492 | +€1,806 | +7.6% |
| Taxes | 450/3 | €23,686 | €25,492 | +€1,806 | +7.6% |
| Other amounts payable | 47/48 | €216,101 | €209,166 | -€6,934 | -3.2% |
| Accrued charges and deferred income | 492/3 | €7,224 | €1,442 | -€5,782 | -80.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,655 | €46,331 | +€9,676 | +26.4% |
| Other operating charges | 640/8 | €1,701 | €3,488 | +€1,787 | +105% |
| Gross operating margin | 9900 | €115,779 | €166,860 | +€51,081 | +44.1% |
| Operating profit (loss) | 9901 | €77,422 | €117,040 | +€39,618 | +51.2% |
| Financial income | 75/76B | €1,560 | €12,815 | +€11,255 | +721% |
| Recurring financial income | 75 | €1,560 | €2,815 | +€1,255 | +80.4% |
| Non-recurring financial income | 76B | - | €10,000 | +€10,000 | |
| Financial charges | 65/66B | €18,811 | €7,484 | -€11,326 | -60.2% |
| Recurring financial charges | 65 | €18,811 | €7,484 | -€11,326 | -60.2% |
| Profit (loss) for the period before taxes | 9903 | €60,172 | €122,370 | +€62,198 | +103% |
| Income taxes | 67/77 | €19,804 | €34,156 | +€14,352 | +72.5% |
| Profit (loss) for the period | 9904 | €40,368 | €88,214 | +€47,846 | +119% |
| Profit (loss) for the period to be appropriated | 9905 | €40,368 | €88,214 | +€47,846 | +119% |
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 27 October 2026 via checked.be.