DEROWY: 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.
DEROWY
Largest movements
- Current investments +€20,000
up €20,000 (+80.0%), from €25,000 to €45,000
- Cash -€11,075
down €11,075 (-43.5%), from €25,464 to €14,389
mainly Current investments (-€20,000) and Debts after one year (-€6,667)
- Receivables within one year -€3,546
down €3,546 (-53.3%), from €6,657 to €3,111
of which Trade receivables: -€4,226
- Tangible fixed assets -€1,789
down €1,789 (-5.8%), from €31,041 to €29,252
of which Furniture and vehicles: -€6,645
- Deferred charges and accrued income -€994
down €994 (-90.0%), from €1,105 to €110
- Reserves +€13,562
up €13,562 (+24.4%), from €55,481 to €69,043
- Debts after one year -€6,667
down €6,667 (-63.2%), from €10,555 to €3,889
- Tax, wage and social debts -€3,219
down €3,219 (-53.0%), from €6,075 to €2,857
- Depreciation +€3,461
up €3,461 (+74.7%), from €4,632 to €8,093
- Write-downs -€804
no longer reported in 2025 (was €804)
- Taxes -€585
down €585 (-6.9%), from €8,482 to €7,896
- Gross operating margin +€479
up €479 (+1.6%), from €29,663 to €30,142
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 | €89,267 | €91,862 | +€2,595 | +2.9% |
| Fixed assets | 21/28 | €31,041 | €29,252 | -€1,789 | -5.8% |
| Tangible fixed assets | 22/27 | €31,041 | €29,252 | -€1,789 | -5.8% |
| Plant, machinery and equipment | 23 | €1,264 | €6,120 | +€4,856 | +384.1% |
| Furniture and vehicles | 24 | €29,777 | €23,132 | -€6,645 | -22.3% |
| Current assets | 29/58 | €58,226 | €62,610 | +€4,384 | +7.5% |
| Amounts receivable within one year | 40/41 | €6,657 | €3,111 | -€3,546 | -53.3% |
| Trade receivables | 40 | €4,418 | €191 | -€4,226 | -95.7% |
| Other amounts receivable | 41 | €2,240 | €2,920 | +€680 | +30.4% |
| Current investments | 50/53 | €25,000 | €45,000 | +€20,000 | +80.0% |
| Cash at bank and in hand | 54/58 | €25,464 | €14,389 | -€11,075 | -43.5% |
| Deferred charges and accrued income | 490/1 | €1,105 | €110 | -€994 | -90.0% |
| Total equity and liabilities | 10/49 | €89,267 | €91,862 | +€2,595 | +2.9% |
| Equity | 10/15 | €61,681 | €75,243 | +€13,562 | +22.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €55,481 | €69,043 | +€13,562 | +24.4% |
| Distributable reserves | 133 | €55,481 | €69,043 | +€13,562 | +24.4% |
| Amounts payable | 17/49 | €27,586 | €16,618 | -€10,968 | -39.8% |
| Amounts payable after more than one year | 17 | €10,555 | €3,889 | -€6,667 | -63.2% |
| Financial debts | 170/4 | €10,555 | €3,889 | -€6,667 | -63.2% |
| Amounts payable within one year | 42/48 | €16,130 | €12,730 | -€3,401 | -21.1% |
| Current portion of amounts payable after more than one year | 42 | €6,988 | €6,667 | -€322 | -4.6% |
| Trade debts | 44 | €1,190 | €1,314 | +€124 | +10.5% |
| Suppliers | 440/4 | €1,190 | €1,314 | +€124 | +10.5% |
| Taxes, remuneration and social security | 45 | €6,075 | €2,857 | -€3,219 | -53.0% |
| Taxes | 450/3 | €6,075 | €2,857 | -€3,219 | -53.0% |
| Other amounts payable | 47/48 | €1,877 | €1,892 | +€15 | +0.8% |
| Accrued charges and deferred income | 492/3 | €900 | - | -€900 | |
| Remuneration, social security and pensions | 62 | €170 | - | -€170 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,632 | €8,093 | +€3,461 | +74.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €804 | - | -€804 | |
| Other operating charges | 640/8 | €497 | €378 | -€118 | -23.8% |
| Gross operating margin | 9900 | €29,663 | €30,142 | +€479 | +1.6% |
| Operating profit (loss) | 9901 | €23,560 | €21,671 | -€1,890 | -8.0% |
| Financial income | 75/76B | €439 | €337 | -€102 | -23.2% |
| Recurring financial income | 75 | €439 | €337 | -€102 | -23.2% |
| Financial charges | 65/66B | €514 | €549 | +€36 | +6.9% |
| Recurring financial charges | 65 | €514 | €549 | +€36 | +6.9% |
| Profit (loss) for the period before taxes | 9903 | €23,486 | €21,459 | -€2,027 | -8.6% |
| Income taxes | 67/77 | €8,482 | €7,896 | -€585 | -6.9% |
| Profit (loss) for the period | 9904 | €15,004 | €13,562 | -€1,442 | -9.6% |
| Profit (loss) for the period to be appropriated | 9905 | €15,004 | €13,562 | -€1,442 | -9.6% |
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.