DERWA-LEDUC: 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.
DERWA-LEDUC
Largest movements
- Cash -€64,649
down €64,649 (-56.2%), from €115,022 to €50,373
mainly Investment in fixed assets (net) (-€81,360) and Debts after one year (-€56,500)
- Tangible fixed assets +€22,724
up €22,724 (+6.6%), from €344,145 to €366,869
of which Plant, machinery and equipment: +€23,172
- Stocks and contracts -€17,143
down €17,143 (-63.9%), from €26,848 to €9,705
- Debts after one year -€56,500
down €56,500 (-21.3%), from €265,500 to €209,000
- Depreciation +€7,934
up €7,934 (+15.6%), from €50,702 to €58,636
- Gross operating margin -€6,226
down €6,226 (-8.4%), from €74,315 to €68,089
- Financial charges +€4,209
up €4,209 (+64.0%), from €6,579 to €10,788
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 | €520,906 | €458,611 | -€62,295 | -12.0% |
| Fixed assets | 21/28 | €344,145 | €366,869 | +€22,724 | +6.6% |
| Tangible fixed assets | 22/27 | €344,145 | €366,869 | +€22,724 | +6.6% |
| Plant, machinery and equipment | 23 | €342,069 | €365,241 | +€23,172 | +6.8% |
| Furniture and vehicles | 24 | €2,076 | €1,628 | -€448 | -21.6% |
| Current assets | 29/58 | €176,761 | €91,742 | -€85,019 | -48.1% |
| Stocks and contracts in progress | 3 | €26,848 | €9,705 | -€17,143 | -63.9% |
| Stocks | 30/36 | €26,848 | €9,705 | -€17,143 | -63.9% |
| Amounts receivable within one year | 40/41 | €34,128 | €31,304 | -€2,824 | -8.3% |
| Trade receivables | 40 | €31,613 | €31,304 | -€309 | -1.0% |
| Other amounts receivable | 41 | €2,515 | - | -€2,515 | |
| Cash at bank and in hand | 54/58 | €115,022 | €50,373 | -€64,649 | -56.2% |
| Deferred charges and accrued income | 490/1 | €763 | €360 | -€403 | -52.8% |
| Total equity and liabilities | 10/49 | €520,906 | €458,611 | -€62,295 | -12.0% |
| Equity | 10/15 | €17,291 | €15,458 | -€1,833 | -10.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,894 | -€5,002 | -€1,108 | -28.5% |
| Investment grants | 15 | €725 | - | -€725 | |
| Amounts payable | 17/49 | €503,615 | €443,153 | -€60,462 | -12.0% |
| Amounts payable after more than one year | 17 | €265,500 | €209,000 | -€56,500 | -21.3% |
| Financial debts | 170/4 | €265,500 | €209,000 | -€56,500 | -21.3% |
| Amounts payable within one year | 42/48 | €238,115 | €234,153 | -€3,962 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €56,500 | €56,500 | = | 0.0% |
| Trade debts | 44 | €10,356 | €6,467 | -€3,889 | -37.6% |
| Suppliers | 440/4 | €10,356 | €6,467 | -€3,889 | -37.6% |
| Taxes, remuneration and social security | 45 | - | €34 | +€34 | |
| Taxes | 450/3 | - | €34 | +€34 | |
| Other amounts payable | 47/48 | €171,259 | €171,152 | -€107 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,702 | €58,636 | +€7,934 | +15.6% |
| Other operating charges | 640/8 | €440 | €506 | +€66 | +15.0% |
| Gross operating margin | 9900 | €74,315 | €68,089 | -€6,226 | -8.4% |
| Operating profit (loss) | 9901 | €23,173 | €8,947 | -€14,226 | -61.4% |
| Financial income | 75/76B | €726 | €733 | +€7 | +1.0% |
| Recurring financial income | 75 | €726 | €733 | +€7 | +1.0% |
| Financial charges | 65/66B | €6,579 | €10,788 | +€4,209 | +64.0% |
| Recurring financial charges | 65 | €6,579 | €10,788 | +€4,209 | +64.0% |
| Profit (loss) for the period before taxes | 9903 | €17,320 | -€1,108 | -€18,428 | |
| Profit (loss) for the period | 9904 | €17,320 | -€1,108 | -€18,428 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,320 | -€1,108 | -€18,428 |
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 17 October 2026 via checked.be.