DERVEAUX PROJECTS: 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.
DERVEAUX PROJECTS
Largest movements
- Stocks and contracts -€45,200
down €45,200 (-72.5%), from €62,318 to €17,118
- Receivables within one year +€15,677
new in 2025: €15,677
of which Trade receivables: +€12,861
- Tangible fixed assets -€1,789
down €1,789 (-12.2%), from €14,672 to €12,883
of which Plant, machinery and equipment: -€1,052
- Short-term financial debts -€22,400
down €22,400 (-44.9%), from €49,900 to €27,500
- Other debts +€11,640
up €11,640 (+628.9%), from €1,851 to €13,491
- Profit (loss) carried forward -€9,200
down €9,200 (-14.9%), from -€61,580 to -€70,780
- Current portion of long-term debt -€5,003
down €5,003 (-78.0%), from €6,413 to €1,410
- Trade debts -€2,402
down €2,402 (-78.2%), from €3,070 to €668
- Write-downs -€5,000
no longer reported in 2025 (was €5,000)
- Gross operating margin -€2,619
down €2,619 (-352.8%), from -€742 to -€3,361
- Financial charges -€2,182
down €2,182 (-38.8%), from €5,618 to €3,436
- Other operating charges -€1,332
down €1,332 (-68.5%), from €1,945 to €613
- Depreciation -€364
down €364 (-16.9%), from €2,153 to €1,789
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 | €77,098 | €46,252 | -€30,846 | -40.0% |
| Fixed assets | 21/28 | €14,687 | €12,898 | -€1,789 | -12.2% |
| Tangible fixed assets | 22/27 | €14,672 | €12,883 | -€1,789 | -12.2% |
| Land and buildings | 22 | €7,562 | €7,107 | -€455 | -6.0% |
| Plant, machinery and equipment | 23 | €4,819 | €3,767 | -€1,052 | -21.8% |
| Other tangible fixed assets | 26 | €2,291 | €2,009 | -€282 | -12.3% |
| Financial fixed assets | 28 | €15 | €15 | = | 0.0% |
| Current assets | 29/58 | €62,411 | €33,354 | -€29,057 | -46.6% |
| Stocks and contracts in progress | 3 | €62,318 | €17,118 | -€45,200 | -72.5% |
| Stocks | 30/36 | €62,318 | €17,118 | -€45,200 | -72.5% |
| Amounts receivable within one year | 40/41 | - | €15,677 | +€15,677 | |
| Trade receivables | 40 | - | €12,861 | +€12,861 | |
| Other amounts receivable | 41 | - | €2,816 | +€2,816 | |
| Cash at bank and in hand | 54/58 | €93 | €560 | +€466 | +500.1% |
| Total equity and liabilities | 10/49 | €77,098 | €46,252 | -€30,846 | -40.0% |
| Equity | 10/15 | -€51,417 | -€60,616 | -€9,200 | -17.9% |
| Contributions | 10/11 | €10,164 | €10,164 | = | 0.0% |
| Capital | 10 | - | €10,164 | +€10,164 | |
| Issued capital | 100 | - | €20,000 | +€20,000 | |
| Uncalled capital | 101 | - | €9,836 | +€9,836 | |
| Outside capital | 11 | €10,164 | - | -€10,164 | |
| Other | 1109/19 | €10,164 | - | -€10,164 | |
| Profit (loss) carried forward | 14 | -€61,580 | -€70,780 | -€9,200 | -14.9% |
| Amounts payable | 17/49 | €128,515 | €106,869 | -€21,646 | -16.8% |
| Amounts payable after more than one year | 17 | €65,210 | €63,800 | -€1,410 | -2.2% |
| Financial debts | 170/4 | €1,410 | - | -€1,410 | |
| Other amounts payable | 178/9 | €63,800 | €63,800 | = | 0.0% |
| Amounts payable within one year | 42/48 | €63,305 | €43,069 | -€20,237 | -32.0% |
| Current portion of amounts payable after more than one year | 42 | €6,413 | €1,410 | -€5,003 | -78.0% |
| Financial debts | 43 | €49,900 | €27,500 | -€22,400 | -44.9% |
| Credit institutions | 430/8 | €49,900 | €27,500 | -€22,400 | -44.9% |
| Trade debts | 44 | €3,070 | €668 | -€2,402 | -78.2% |
| Suppliers | 440/4 | €3,070 | €668 | -€2,402 | -78.2% |
| Taxes, remuneration and social security | 45 | €2,071 | - | -€2,071 | |
| Taxes | 450/3 | €2,071 | - | -€2,071 | |
| Other amounts payable | 47/48 | €1,851 | €13,491 | +€11,640 | +628.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,153 | €1,789 | -€364 | -16.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €5,000 | - | -€5,000 | |
| Other operating charges | 640/8 | €1,945 | €613 | -€1,332 | -68.5% |
| Non-recurring operating charges | 66A | €9,759 | - | -€9,759 | |
| Gross operating margin | 9900 | -€742 | -€3,361 | -€2,619 | -352.8% |
| Operating profit (loss) | 9901 | -€19,599 | -€5,764 | +€13,836 | +70.6% |
| Financial charges | 65/66B | €5,618 | €3,436 | -€2,182 | -38.8% |
| Recurring financial charges | 65 | €5,618 | €3,436 | -€2,182 | -38.8% |
| Profit (loss) for the period before taxes | 9903 | -€25,217 | -€9,200 | +€16,017 | +63.5% |
| Profit (loss) for the period | 9904 | -€25,217 | -€9,200 | +€16,017 | +63.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€25,217 | -€9,200 | +€16,017 | +63.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.