DRE: 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.
DRE
Largest movements
- Receivables within one year -€17,275
down €17,275 (-54.4%), from €31,748 to €14,473
- Cash -€5,484
down €5,484 (-9.6%), from €57,213 to €51,729
mainly Investment in fixed assets (net) (-€15,834) and Net result for the year (-€15,191)
- Stocks and contracts -€4,380
down €4,380 (-18.0%), from €24,399 to €20,019
- Tangible fixed assets -€3,024
down €3,024 (-3.1%), from €97,717 to €94,693
of which Furniture and vehicles: -€6,750
- Profit (loss) carried forward -€15,191
down €15,191 (-13.2%), from -€115,403 to -€130,594
- Trade debts -€11,625
down €11,625 (-51.0%), from €22,814 to €11,189
- Other debts -€4,674
down €4,674 (-29.3%), from €15,973 to €11,299
- Current portion of long-term debt -€2,534
no longer reported in 2025 (was €2,534)
- Gross operating margin -€22,827
down €22,827 (-30.2%), from €75,657 to €52,830
- Write-downs -€3,689
down €3,689, from €2,097 to -€1,593
- Other operating charges -€2,318
down €2,318 (-48.4%), from €4,792 to €2,474
- Depreciation +€2,159
up €2,159 (+12.9%), from €16,699 to €18,858
- Staff costs +€1,364
up €1,364 (+3.0%), from €45,338 to €46,702
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 | €212,554 | €182,410 | -€30,144 | -14.2% |
| Fixed assets | 21/28 | €97,967 | €94,943 | -€3,024 | -3.1% |
| Tangible fixed assets | 22/27 | €97,717 | €94,693 | -€3,024 | -3.1% |
| Land and buildings | 22 | €59,270 | €56,719 | -€2,551 | -4.3% |
| Furniture and vehicles | 24 | €24,956 | €18,206 | -€6,750 | -27.0% |
| Other tangible fixed assets | 26 | €13,491 | €19,767 | +€6,277 | +46.5% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €114,587 | €87,467 | -€27,120 | -23.7% |
| Stocks and contracts in progress | 3 | €24,399 | €20,019 | -€4,380 | -18.0% |
| Stocks | 30/36 | €24,399 | €20,019 | -€4,380 | -18.0% |
| Amounts receivable within one year | 40/41 | €31,748 | €14,473 | -€17,275 | -54.4% |
| Trade receivables | 40 | €31,748 | €14,473 | -€17,275 | -54.4% |
| Cash at bank and in hand | 54/58 | €57,213 | €51,729 | -€5,484 | -9.6% |
| Deferred charges and accrued income | 490/1 | €1,228 | €1,247 | +€19 | +1.6% |
| Total equity and liabilities | 10/49 | €212,554 | €182,410 | -€30,144 | -14.2% |
| Equity | 10/15 | €159,251 | €144,061 | -€15,191 | -9.5% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €255,655 | €255,655 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Tax-exempt reserves | 132 | €3,389 | €3,389 | = | 0.0% |
| Distributable reserves | 133 | €250,365 | €250,365 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€115,403 | -€130,594 | -€15,191 | -13.2% |
| Amounts payable | 17/49 | €53,302 | €38,350 | -€14,953 | -28.1% |
| Amounts payable within one year | 42/48 | €53,302 | €37,893 | -€15,409 | -28.9% |
| Current portion of amounts payable after more than one year | 42 | €2,534 | - | -€2,534 | |
| Trade debts | 44 | €22,814 | €11,189 | -€11,625 | -51.0% |
| Suppliers | 440/4 | €22,814 | €11,189 | -€11,625 | -51.0% |
| Advances received on contracts in progress | 46 | - | €1,699 | +€1,699 | |
| Taxes, remuneration and social security | 45 | €11,982 | €13,707 | +€1,725 | +14.4% |
| Taxes | 450/3 | €2,887 | €3,841 | +€954 | +33.0% |
| Remuneration and social security | 454/9 | €9,095 | €9,866 | +€771 | +8.5% |
| Other amounts payable | 47/48 | €15,973 | €11,299 | -€4,674 | -29.3% |
| Accrued charges and deferred income | 492/3 | - | €457 | +€457 | |
| Remuneration, social security and pensions | 62 | €45,338 | €46,702 | +€1,364 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,699 | €18,858 | +€2,159 | +12.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,097 | -€1,593 | -€3,689 | |
| Other operating charges | 640/8 | €4,792 | €2,474 | -€2,318 | -48.4% |
| Non-recurring operating charges | 66A | €58 | €63 | +€5 | +9.3% |
| Gross operating margin | 9900 | €75,657 | €52,830 | -€22,827 | -30.2% |
| Operating profit (loss) | 9901 | €6,674 | -€13,674 | -€20,348 | |
| Financial income | 75/76B | €763 | - | -€763 | |
| Recurring financial income | 75 | €763 | - | -€763 | |
| Financial charges | 65/66B | €1,577 | €1,147 | -€430 | -27.2% |
| Recurring financial charges | 65 | €1,577 | €1,147 | -€430 | -27.2% |
| Profit (loss) for the period before taxes | 9903 | €5,861 | -€14,821 | -€20,682 | |
| Income taxes | 67/77 | €377 | €370 | -€7 | -1.8% |
| Profit (loss) for the period | 9904 | €5,484 | -€15,191 | -€20,675 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,484 | -€15,191 | -€20,675 |
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.