Derzie: 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.
What changed
Derzie
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€9,520
2024 · €10,261-€741
Equity
€3.9m
2024 · €3.8m+€9,520
Cash
€148,619
2024 · €100,854+€47,765
Balance sheet total
€4.4m
2024 · €4.5m-€70,040
Largest movements
Assets
- Tangible fixed assets -€121,259
down €121,259 (-4.1%), from €3.0m to €2.8m
of which Land and buildings: -€106,866
- Cash +€47,765
up €47,765 (+47.4%), from €100,854 to €148,619
mainly Depreciation (+€121,259) and Receivables within one year (+€15,097)
Equity and liabilities
- Other debts -€55,710
down €55,710 (-87.9%), from €63,386 to €7,677
Income statement
- Gross operating margin -€35,327
down €35,327 (-28.2%), from €125,451 to €90,124
- Taxes -€21,845
down €21,845 (-77.0%), from €28,381 to €6,537
- Other operating charges -€15,258
down €15,258 (-75.8%), from €20,129 to €4,871
- Financial charges +€11,980
up €11,980 (+6,326%), from €189 to €12,169
- Financial income +€6,039
up €6,039 (+13.8%), from €43,604 to €49,643
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.
Result 2024
€10,261
Gross operating margin
-€35,327
Depreciation
+€3,424
Other operating charges
+€15,258
Financial income
+€6,039
Financial charges
-€11,980
Taxes
+€21,845
Result 2025
€9,520
raises the resultlowers the result
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.
From operations
+€68,129
Investment
-€19,894
Financing
-€470
Cash 2024
€100,854
From operations (derived)
+€68,129
Net result for the year
+€9,520
Depreciation
+€121,259
Receivables within one year
+€15,097
Deferred charges and accrued income
+€1,343
Provisions
-€14,589
Trade debts
-€5,045
Tax, wage and social debts
+€3,281
Other debts
-€55,710
Accrued charges and deferred income
-€7,027
Investment (derived)
-€19,894
Current investments
-€19,894
Financing
-€470
Debts after one year
-€470
Cash 2025
€148,619
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,455,902 | €4,385,862 | -€70,040 | -1.6% |
| Fixed assets | 21/28 | €2,960,873 | €2,839,614 | -€121,259 | -4.1% |
| Tangible fixed assets | 22/27 | €2,958,386 | €2,837,127 | -€121,259 | -4.1% |
| Land and buildings | 22 | €2,910,575 | €2,803,710 | -€106,866 | -3.7% |
| Plant, machinery and equipment | 23 | €25,437 | €24,117 | -€1,320 | -5.2% |
| Furniture and vehicles | 24 | €13,074 | - | -€13,074 | |
| Other tangible fixed assets | 26 | €9,300 | €9,300 | = | 0.0% |
| Financial fixed assets | 28 | €2,487 | €2,487 | = | 0.0% |
| Current assets | 29/58 | €1,495,028 | €1,546,248 | +€51,220 | +3.4% |
| Amounts receivable within one year | 40/41 | €23,186 | €8,089 | -€15,097 | -65.1% |
| Trade receivables | 40 | €8,936 | €639 | -€8,296 | -92.8% |
| Other amounts receivable | 41 | €14,250 | €7,450 | -€6,801 | -47.7% |
| Current investments | 50/53 | €1,367,468 | €1,387,363 | +€19,894 | +1.5% |
| Cash at bank and in hand | 54/58 | €100,854 | €148,619 | +€47,765 | +47.4% |
| Deferred charges and accrued income | 490/1 | €3,520 | €2,177 | -€1,343 | -38.2% |
| Total equity and liabilities | 10/49 | €4,455,902 | €4,385,862 | -€70,040 | -1.6% |
| Equity | 10/15 | €3,843,894 | €3,853,414 | +€9,520 | +0.2% |
| Contributions | 10/11 | €98,939 | €98,939 | = | 0.0% |
| Reserves | 13 | €1,901,614 | €1,911,134 | +€9,520 | +0.5% |
| Non-distributable reserves | 130/1 | €11,873 | €11,873 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,894 | €9,894 | = | 0.0% |
| Other | 1319 | €1,979 | €1,979 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,542,379 | €1,498,613 | -€43,767 | -2.8% |
| Distributable reserves | 133 | €347,362 | €400,649 | +€53,287 | +15.3% |
| Profit (loss) carried forward | 14 | €1,843,341 | €1,843,341 | = | 0.0% |
| Provisions and deferred taxes | 16 | €506,316 | €491,727 | -€14,589 | -2.9% |
| Deferred taxes | 168 | €506,316 | €491,727 | -€14,589 | -2.9% |
| Amounts payable | 17/49 | €105,692 | €40,722 | -€64,970 | -61.5% |
| Amounts payable after more than one year | 17 | €7,185 | €6,715 | -€470 | -6.5% |
| Other amounts payable | 178/9 | €7,185 | €6,715 | -€470 | -6.5% |
| Amounts payable within one year | 42/48 | €87,068 | €29,594 | -€57,474 | -66.0% |
| Trade debts | 44 | €23,433 | €18,388 | -€5,045 | -21.5% |
| Suppliers | 440/4 | €23,433 | €18,388 | -€5,045 | -21.5% |
| Taxes, remuneration and social security | 45 | €248 | €3,530 | +€3,281 | +1,321% |
| Taxes | 450/3 | €248 | €3,530 | +€3,281 | +1,321% |
| Other amounts payable | 47/48 | €63,386 | €7,677 | -€55,710 | -87.9% |
| Accrued charges and deferred income | 492/3 | €11,439 | €4,412 | -€7,027 | -61.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,683 | €121,259 | -€3,424 | -2.7% |
| Other operating charges | 640/8 | €20,129 | €4,871 | -€15,258 | -75.8% |
| Gross operating margin | 9900 | €125,451 | €90,124 | -€35,327 | -28.2% |
| Operating profit (loss) | 9901 | -€19,361 | -€36,006 | -€16,645 | -86.0% |
| Financial income | 75/76B | €43,604 | €49,643 | +€6,039 | +13.8% |
| Recurring financial income | 75 | €43,604 | €49,643 | +€6,039 | +13.8% |
| Financial charges | 65/66B | €189 | €12,169 | +€11,980 | +6,326% |
| Recurring financial charges | 65 | €189 | €12,169 | +€11,980 | +6,326% |
| Profit (loss) for the period before taxes | 9903 | €24,053 | €1,467 | -€22,586 | -93.9% |
| Transfer from deferred taxes | 780 | €14,589 | €14,589 | = | 0.0% |
| Income taxes | 67/77 | €28,381 | €6,537 | -€21,845 | -77.0% |
| Profit (loss) for the period | 9904 | €10,261 | €9,520 | -€741 | -7.2% |
| Transfer from tax-exempt reserves | 789 | €43,767 | €43,767 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €54,028 | €53,287 | -€741 | -1.4% |
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 14 October 2026 via checked.be.