DERPA: 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.
DERPA
Largest movements
- Financial fixed assets +€405,000
up €405,000 (+42.5%), from €952,384 to €1.4m
- Receivables within one year -€95,268
down €95,268 (-55.7%), from €171,110 to €75,843
of which Trade receivables: -€61,824
- Tangible fixed assets -€41,287
down €41,287 (-8.4%), from €491,287 to €450,000
- Debts after one year +€181,295
up €181,295 (+30.1%), from €602,570 to €783,865
- Other debts +€140,000
new in 2025: €140,000
- Tax, wage and social debts -€60,510
down €60,510 (-93.9%), from €64,420 to €3,910
- Current portion of long-term debt +€48,454
up €48,454 (+56.0%), from €86,542 to €134,996
- Trade debts -€37,806
down €37,806 (-36.6%), from €103,251 to €65,444
- Gross operating margin -€27,278
down €27,278 (-26.1%), from €104,436 to €77,158
- Taxes -€9,271
down €9,271 (-44.5%), from €20,826 to €11,555
- Financial charges +€7,919
up €7,919 (+45.0%), from €17,583 to €25,501
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 | €1,631,691 | €1,901,587 | +€269,896 | +16.5% |
| Fixed assets | 21/28 | €1,443,670 | €1,807,384 | +€363,713 | +25.2% |
| Tangible fixed assets | 22/27 | €491,287 | €450,000 | -€41,287 | -8.4% |
| Land and buildings | 22 | €491,287 | €450,000 | -€41,287 | -8.4% |
| Financial fixed assets | 28 | €952,384 | €1,357,384 | +€405,000 | +42.5% |
| Current assets | 29/58 | €188,020 | €94,203 | -€93,817 | -49.9% |
| Amounts receivable within one year | 40/41 | €171,110 | €75,843 | -€95,268 | -55.7% |
| Trade receivables | 40 | €110,683 | €48,859 | -€61,824 | -55.9% |
| Other amounts receivable | 41 | €60,427 | €26,984 | -€33,443 | -55.3% |
| Cash at bank and in hand | 54/58 | €16,910 | €18,361 | +€1,450 | +8.6% |
| Total equity and liabilities | 10/49 | €1,631,691 | €1,901,587 | +€269,896 | +16.5% |
| Equity | 10/15 | €694,772 | €705,503 | +€10,731 | +1.5% |
| Contributions | 10/11 | €310,000 | €310,000 | = | 0.0% |
| Capital | 10 | €310,000 | €310,000 | = | 0.0% |
| Issued capital | 100 | €310,000 | €310,000 | = | 0.0% |
| Reserves | 13 | €176,969 | €154,883 | -€22,086 | -12.5% |
| Non-distributable reserves | 130/1 | €21,413 | €23,140 | +€1,727 | +8.1% |
| Legal reserve | 130 | €21,413 | €23,140 | +€1,727 | +8.1% |
| Tax-exempt reserves | 132 | €155,556 | €131,743 | -€23,814 | -15.3% |
| Profit (loss) carried forward | 14 | €207,803 | €240,621 | +€32,817 | +15.8% |
| Provisions and deferred taxes | 16 | €80,135 | €67,867 | -€12,268 | -15.3% |
| Deferred taxes | 168 | €80,135 | €67,867 | -€12,268 | -15.3% |
| Amounts payable | 17/49 | €856,783 | €1,128,216 | +€271,433 | +31.7% |
| Amounts payable after more than one year | 17 | €602,570 | €783,865 | +€181,295 | +30.1% |
| Financial debts | 170/4 | €602,570 | €783,865 | +€181,295 | +30.1% |
| Amounts payable within one year | 42/48 | €254,213 | €344,351 | +€90,138 | +35.5% |
| Current portion of amounts payable after more than one year | 42 | €86,542 | €134,996 | +€48,454 | +56.0% |
| Trade debts | 44 | €103,251 | €65,444 | -€37,806 | -36.6% |
| Suppliers | 440/4 | €103,251 | €65,444 | -€37,806 | -36.6% |
| Taxes, remuneration and social security | 45 | €64,420 | €3,910 | -€60,510 | -93.9% |
| Taxes | 450/3 | €64,420 | €3,910 | -€60,510 | -93.9% |
| Other amounts payable | 47/48 | - | €140,000 | +€140,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,782 | €41,287 | +€505 | +1.2% |
| Other operating charges | 640/8 | €937 | €937 | = | 0.0% |
| Gross operating margin | 9900 | €104,436 | €77,158 | -€27,278 | -26.1% |
| Operating profit (loss) | 9901 | €62,718 | €34,935 | -€27,783 | -44.3% |
| Financial income | 75/76B | €2 | €585 | +€583 | +29608.1% |
| Recurring financial income | 75 | €2 | €585 | +€583 | +29608.1% |
| Financial charges | 65/66B | €17,583 | €25,501 | +€7,919 | +45.0% |
| Recurring financial charges | 65 | €17,583 | €25,501 | +€7,919 | +45.0% |
| Profit (loss) for the period before taxes | 9903 | €45,137 | €10,018 | -€35,118 | -77.8% |
| Transfer from deferred taxes | 780 | €12,268 | €12,268 | = | 0.0% |
| Income taxes | 67/77 | €20,826 | €11,555 | -€9,271 | -44.5% |
| Profit (loss) for the period | 9904 | €36,579 | €10,731 | -€25,848 | -70.7% |
| Transfer from tax-exempt reserves | 789 | €23,814 | €23,814 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €60,392 | €34,545 | -€25,848 | -42.8% |
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 8 October 2026 via checked.be.