MARC DEDRY LSD: 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.
MARC DEDRY LSD
Largest movements
- Cash -€83,070
down €83,070 (-82.6%), from €100,562 to €17,492
mainly Receivables within one year (-€70,783) and Current investments (-€69,720)
- Receivables within one year +€70,783
up €70,783 (+76.8%), from €92,135 to €162,918
of which Other amounts receivable: +€99,855
- Current investments +€69,720
up €69,720 (+27.6%), from €252,839 to €322,559
- Deferred charges and accrued income +€14,914
up €14,914 (+2254.2%), from €662 to €15,576
- Tangible fixed assets -€7,637
down €7,637 (-48.4%), from €15,782 to €8,145
- Profit (loss) carried forward +€35,457
no longer reported in 2025 (was -€35,457)
- Reserves +€31,289
up €31,289 (+7.6%), from €410,073 to €441,361
- Accrued charges and deferred income +€8,261
up €8,261 (+15.6%), from €52,839 to €61,101
- Debts after one year -€7,761
no longer reported in 2025 (was €7,761)
- Taxes +€18,675
up €18,675 (+13800.9%), from €135 to €18,811
- Staff costs -€9,108
no longer reported in 2025 (was €9,108)
- Depreciation -€4,953
down €4,953 (-35.3%), from €14,019 to €9,065
- Financial income +€3,197
up €3,197 (+84.4%), from €3,787 to €6,984
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 | €461,980 | €526,690 | +€64,710 | +14.0% |
| Fixed assets | 21/28 | €15,782 | €8,145 | -€7,637 | -48.4% |
| Tangible fixed assets | 22/27 | €15,782 | €8,145 | -€7,637 | -48.4% |
| Furniture and vehicles | 24 | €15,782 | €8,145 | -€7,637 | -48.4% |
| Current assets | 29/58 | €446,198 | €518,545 | +€72,347 | +16.2% |
| Amounts receivable within one year | 40/41 | €92,135 | €162,918 | +€70,783 | +76.8% |
| Trade receivables | 40 | €30,896 | €1,825 | -€29,071 | -94.1% |
| Other amounts receivable | 41 | €61,239 | €161,093 | +€99,855 | +163.1% |
| Current investments | 50/53 | €252,839 | €322,559 | +€69,720 | +27.6% |
| Cash at bank and in hand | 54/58 | €100,562 | €17,492 | -€83,070 | -82.6% |
| Deferred charges and accrued income | 490/1 | €662 | €15,576 | +€14,914 | +2254.2% |
| Total equity and liabilities | 10/49 | €461,980 | €526,690 | +€64,710 | +14.0% |
| Equity | 10/15 | €387,016 | €453,761 | +€66,746 | +17.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €410,073 | €441,361 | +€31,289 | +7.6% |
| Distributable reserves | 133 | €410,073 | €441,361 | +€31,289 | +7.6% |
| Profit (loss) carried forward | 14 | -€35,457 | - | +€35,457 | |
| Amounts payable | 17/49 | €74,964 | €72,928 | -€2,036 | -2.7% |
| Amounts payable after more than one year | 17 | €7,761 | - | -€7,761 | |
| Financial debts | 170/4 | €7,761 | - | -€7,761 | |
| Amounts payable within one year | 42/48 | €14,364 | €11,827 | -€2,537 | -17.7% |
| Current portion of amounts payable after more than one year | 42 | €10,052 | €7,761 | -€2,292 | -22.8% |
| Trade debts | 44 | €614 | €3,234 | +€2,620 | +426.6% |
| Suppliers | 440/4 | €614 | €3,234 | +€2,620 | +426.6% |
| Taxes, remuneration and social security | 45 | €3,698 | - | -€3,698 | |
| Taxes | 450/3 | €3,698 | - | -€3,698 | |
| Other amounts payable | 47/48 | - | €833 | +€833 | |
| Accrued charges and deferred income | 492/3 | €52,839 | €61,101 | +€8,261 | +15.6% |
| Remuneration, social security and pensions | 62 | €9,108 | - | -€9,108 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,019 | €9,065 | -€4,953 | -35.3% |
| Other operating charges | 640/8 | €1,224 | €1,375 | +€150 | +12.3% |
| Non-recurring operating charges | 66A | €104,708 | - | -€104,708 | |
| Gross operating margin | 9900 | €90,934 | €90,608 | -€325 | -0.4% |
| Operating profit (loss) | 9901 | -€38,126 | €80,168 | +€118,294 | |
| Financial income | 75/76B | €3,787 | €6,984 | +€3,197 | +84.4% |
| Recurring financial income | 75 | €3,787 | €6,984 | +€3,197 | +84.4% |
| Financial charges | 65/66B | €983 | €763 | -€219 | -22.3% |
| Recurring financial charges | 65 | €983 | €763 | -€219 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | -€35,322 | €86,389 | +€121,711 | |
| Income taxes | 67/77 | €135 | €18,811 | +€18,675 | +13800.9% |
| Profit (loss) for the period | 9904 | -€35,457 | €67,579 | +€103,036 | |
| Profit (loss) for the period to be appropriated | 9905 | -€35,457 | €67,579 | +€103,036 |
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 12 October 2026 via checked.be.