DR DE GRAEVE: what changed
What changed
DR DE GRAEVE
filed annual accounts (NBB)
Net result for the year
€50,887
2024 · €46,832+€4,055
Equity
€255,174
2024 · €204,287+€50,887
Cash
€205,476
2024 · €181,675+€23,800
Balance sheet total
€267,638
2024 · €214,155+€53,483
Largest movements
Assets
- Receivables within one year +€30,826
up €30,826 (+105%), from €29,386 to €60,213
- Cash +€23,800
up €23,800 (+13.1%), from €181,675 to €205,476
mainly Net result for the year (+€50,887) and Tax, wage and social debts (+€2,606)
Equity and liabilities
- Reserves +€50,887
up €50,887 (+26.5%), from €191,887 to €242,774
of which Distributable reserves: +€50,887
Income statement
- Gross operating margin +€6,202
up €6,202 (+8.5%), from €73,082 to €79,284
- Taxes +€2,916
up €2,916 (+12.9%), from €22,569 to €25,484
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€46,832
Gross operating margin
+€6,202
Staff costs
-€42
Depreciation
+€502
Other operating charges
-€19
Financial income
+€0
Financial charges
+€328
Taxes
-€2,916
Result 2025
€50,887
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€23,800
Investment
€0
Financing
€0
Cash 2024
€181,675
From operations (derived)
+€23,800
Net result for the year
+€50,887
Depreciation
+€1,507
Receivables within one year
-€30,826
Deferred charges and accrued income
-€363
Trade debts
-€11
Tax, wage and social debts
+€2,606
Cash 2025
€205,476
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €214,155 | €267,638 | +€53,483 | +25.0% |
| Fixed assets | 21/28 | €2,669 | €1,162 | -€1,507 | -56.5% |
| Tangible fixed assets | 22/27 | €2,669 | €1,162 | -€1,507 | -56.5% |
| Other tangible fixed assets | 26 | €2,669 | €1,162 | -€1,507 | -56.5% |
| Current assets | 29/58 | €211,487 | €266,476 | +€54,989 | +26.0% |
| Amounts receivable within one year | 40/41 | €29,386 | €60,213 | +€30,826 | +105% |
| Other amounts receivable | 41 | €29,386 | €60,213 | +€30,826 | +105% |
| Cash at bank and in hand | 54/58 | €181,675 | €205,476 | +€23,800 | +13.1% |
| Deferred charges and accrued income | 490/1 | €425 | €787 | +€363 | +85.4% |
| Total equity and liabilities | 10/49 | €214,155 | €267,638 | +€53,483 | +25.0% |
| Equity | 10/15 | €204,287 | €255,174 | +€50,887 | +24.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €191,887 | €242,774 | +€50,887 | +26.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €190,027 | €240,914 | +€50,887 | +26.8% |
| Amounts payable | 17/49 | €9,869 | €12,464 | +€2,595 | +26.3% |
| Amounts payable within one year | 42/48 | €9,869 | €12,464 | +€2,595 | +26.3% |
| Trade debts | 44 | €86 | €75 | -€11 | -12.8% |
| Suppliers | 440/4 | €86 | €75 | -€11 | -12.8% |
| Taxes, remuneration and social security | 45 | €9,783 | €12,389 | +€2,606 | +26.6% |
| Taxes | 450/3 | €9,783 | €12,389 | +€2,606 | +26.6% |
| Remuneration, social security and pensions | 62 | €230 | €271 | +€42 | +18.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,008 | €1,507 | -€502 | -25.0% |
| Other operating charges | 640/8 | €636 | €656 | +€19 | +3.1% |
| Gross operating margin | 9900 | €73,082 | €79,284 | +€6,202 | +8.5% |
| Operating profit (loss) | 9901 | €70,208 | €76,851 | +€6,643 | +9.5% |
| Financial income | 75/76B | €0 | €0 | +€0 | +107% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +107% |
| Financial charges | 65/66B | €807 | €479 | -€328 | -40.6% |
| Recurring financial charges | 65 | €807 | €479 | -€328 | -40.6% |
| Profit (loss) for the period before taxes | 9903 | €69,401 | €76,372 | +€6,971 | +10.0% |
| Income taxes | 67/77 | €22,569 | €25,484 | +€2,916 | +12.9% |
| Profit (loss) for the period | 9904 | €46,832 | €50,887 | +€4,055 | +8.7% |
| Profit (loss) for the period to be appropriated | 9905 | €46,832 | €50,887 | +€4,055 | +8.7% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.