Piet Dermaux: what changed
Piet Dermaux
Largest movements
- Current investments +€40,531
up €40,531 (+57.4%), from €70,639 to €111,170
- Receivables within one year -€35,852
down €35,852 (-27.3%), from €131,360 to €95,508
of which Trade receivables: -€57,751
- Cash -€14,814
down €14,814 (-20.7%), from €71,609 to €56,795
mainly Contributions, distributions and other (-€210,654) and Trade debts (-€69,069)
- Tangible fixed assets -€7,426
down €7,426 (-5.0%), from €149,112 to €141,687
of which Other tangible fixed assets: -€6,231
- Other debts +€210,654
up €210,654, from €0 to €210,654
- Profit (loss) carried forward -€81,847
down €81,847 (-100%), from €81,847 to €0
- Trade debts -€69,069
down €69,069 (-98.3%), from €70,249 to €1,180
- Reserves -€54,000
down €54,000 (-55.0%), from €98,260 to €44,260
- Debts after one year -€13,609
down €13,609 (-12.5%), from €108,512 to €94,903
- Gross operating margin -€10,751
down €10,751 (-9.0%), from €119,780 to €109,028
- Other operating charges -€1,668
down €1,668 (-55.6%), from €3,000 to €1,332
- Taxes -€1,547
down €1,547 (-7.4%), from €20,796 to €19,249
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €425,828 | €408,735 | -€17,092 | -4.0% |
| Fixed assets | 21/28 | €149,112 | €141,687 | -€7,426 | -5.0% |
| Tangible fixed assets | 22/27 | €149,112 | €141,687 | -€7,426 | -5.0% |
| Furniture and vehicles | 24 | €1,993 | €798 | -€1,195 | -59.9% |
| Other tangible fixed assets | 26 | €147,119 | €140,888 | -€6,231 | -4.2% |
| Current assets | 29/58 | €276,715 | €267,049 | -€9,667 | -3.5% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €131,360 | €95,508 | -€35,852 | -27.3% |
| Trade receivables | 40 | €100,769 | €43,018 | -€57,751 | -57.3% |
| Other amounts receivable | 41 | €30,591 | €52,490 | +€21,899 | +71.6% |
| Current investments | 50/53 | €70,639 | €111,170 | +€40,531 | +57.4% |
| Cash at bank and in hand | 54/58 | €71,609 | €56,795 | -€14,814 | -20.7% |
| Deferred charges and accrued income | 490/1 | €3,107 | €3,576 | +€468 | +15.1% |
| Total equity and liabilities | 10/49 | €425,828 | €408,735 | -€17,092 | -4.0% |
| Equity | 10/15 | €198,707 | €62,860 | -€135,847 | -68.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €98,260 | €44,260 | -€54,000 | -55.0% |
| Distributable reserves | 133 | €98,260 | €44,260 | -€54,000 | -55.0% |
| Profit (loss) carried forward | 14 | €81,847 | €0 | -€81,847 | -100% |
| Amounts payable | 17/49 | €227,120 | €345,875 | +€118,755 | +52.3% |
| Amounts payable after more than one year | 17 | €108,512 | €94,903 | -€13,609 | -12.5% |
| Financial debts | 170/4 | €108,512 | €94,903 | -€13,609 | -12.5% |
| Amounts payable within one year | 42/48 | €117,341 | €250,972 | +€133,631 | +114% |
| Current portion of amounts payable after more than one year | 42 | €13,405 | €13,609 | +€204 | +1.5% |
| Trade debts | 44 | €70,249 | €1,180 | -€69,069 | -98.3% |
| Suppliers | 440/4 | €70,249 | €1,180 | -€69,069 | -98.3% |
| Taxes, remuneration and social security | 45 | €33,687 | €25,530 | -€8,157 | -24.2% |
| Taxes | 450/3 | €33,687 | €19,813 | -€13,874 | -41.2% |
| Remuneration and social security | 454/9 | - | €5,717 | +€5,717 | |
| Other amounts payable | 47/48 | €0 | €210,654 | +€210,654 | |
| Accrued charges and deferred income | 492/3 | €1,268 | €0 | -€1,268 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €641 | €0 | -€641 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,138 | €16,720 | +€582 | +3.6% |
| Other operating charges | 640/8 | €3,000 | €1,332 | -€1,668 | -55.6% |
| Gross operating margin | 9900 | €119,780 | €109,028 | -€10,751 | -9.0% |
| Operating profit (loss) | 9901 | €100,001 | €90,977 | -€9,024 | -9.0% |
| Financial income | 75/76B | €4,868 | €5,031 | +€163 | +3.3% |
| Recurring financial income | 75 | €4,868 | €5,031 | +€163 | +3.3% |
| Financial charges | 65/66B | €2,225 | €1,951 | -€274 | -12.3% |
| Recurring financial charges | 65 | €2,225 | €1,951 | -€274 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | €102,643 | €94,056 | -€8,587 | -8.4% |
| Income taxes | 67/77 | €20,796 | €19,249 | -€1,547 | -7.4% |
| Profit (loss) for the period | 9904 | €81,847 | €74,806 | -€7,041 | -8.6% |
| Profit (loss) for the period to be appropriated | 9905 | €81,847 | €74,806 | -€7,041 | -8.6% |
Next steps
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.