DERCO: what changed
What changed
DERCO
filed annual accounts (NBB)
Net result for the year
-€5,904
2024 · €3,551-€9,456
Equity
€1.6m
2024 · €1.6m-€5,904
Cash
€575,409
2024 · €77,005+€498,404
Balance sheet total
€1.6m
2024 · €1.7m-€37,143
Largest movements
Assets
- Cash +€498,404
up €498,404 (+647%), from €77,005 to €575,409
mainly Receivables within one year (+€495,239) and Depreciation (+€40,555)
- Receivables within one year -€495,239
down €495,239 (-48.2%), from €1.0m to €531,988
of which Other amounts receivable: -€495,239
- Tangible fixed assets -€40,555
down €40,555 (-7.1%), from €573,427 to €532,872
of which Land and buildings: -€21,619
Equity and liabilities
- Other debts -€23,000
no longer reported in 2025 (was €23,000)
Income statement
- Financial income -€8,167
down €8,167 (-93.9%), from €8,695 to €528
- Gross operating margin -€8,029
down €8,029 (-16.2%), from €49,529 to €41,499
- Taxes -€5,834
down €5,834 (-97.4%), from €5,992 to €158
- Depreciation -€1,023
down €1,023 (-2.5%), from €41,579 to €40,555
- Financial charges +€739
up €739 (+211%), from €350 to €1,089
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
€3,551
Gross operating margin
-€8,029
Depreciation
+€1,023
Other operating charges
+€622
Financial income
-€8,167
Financial charges
-€739
Taxes
+€5,834
Result 2025
-€5,904
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
+€498,404
Investment
€0
Financing
€0
Cash 2024
€77,005
From operations (derived)
+€498,404
Net result for the year
-€5,904
Depreciation
+€40,555
Receivables within one year
+€495,239
Smaller working-capital items
+€902
Provisions
-€1,536
Trade debts
-€7,852
Other debts
-€23,000
Cash 2025
€575,409
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,679,657 | €1,642,514 | -€37,143 | -2.2% |
| Fixed assets | 21/28 | €573,427 | €532,872 | -€40,555 | -7.1% |
| Tangible fixed assets | 22/27 | €573,427 | €532,872 | -€40,555 | -7.1% |
| Land and buildings | 22 | €546,444 | €524,826 | -€21,619 | -4.0% |
| Plant, machinery and equipment | 23 | €10,379 | €7,912 | -€2,467 | -23.8% |
| Furniture and vehicles | 24 | €16,603 | €134 | -€16,469 | -99.2% |
| Current assets | 29/58 | €1,106,230 | €1,109,642 | +€3,412 | +0.3% |
| Amounts receivable within one year | 40/41 | €1,027,227 | €531,988 | -€495,239 | -48.2% |
| Trade receivables | 40 | €55,882 | €55,882 | = | 0.0% |
| Other amounts receivable | 41 | €971,345 | €476,106 | -€495,239 | -51.0% |
| Cash at bank and in hand | 54/58 | €77,005 | €575,409 | +€498,404 | +647% |
| Deferred charges and accrued income | 490/1 | €1,998 | €2,246 | +€248 | +12.4% |
| Total equity and liabilities | 10/49 | €1,679,657 | €1,642,514 | -€37,143 | -2.2% |
| Equity | 10/15 | €1,603,518 | €1,597,613 | -€5,904 | -0.4% |
| Contributions | 10/11 | €619,734 | €619,734 | = | 0.0% |
| Capital | 10 | €619,734 | €619,734 | = | 0.0% |
| Issued capital | 100 | €619,734 | €619,734 | = | 0.0% |
| Reserves | 13 | €983,784 | €977,880 | -€5,904 | -0.6% |
| Non-distributable reserves | 130/1 | €61,973 | €61,973 | = | 0.0% |
| Legal reserve | 130 | €61,973 | €61,973 | = | 0.0% |
| Tax-exempt reserves | 132 | €135,173 | €129,029 | -€6,144 | -4.5% |
| Distributable reserves | 133 | €786,638 | €786,877 | +€240 | 0.0% |
| Provisions and deferred taxes | 16 | €33,793 | €32,257 | -€1,536 | -4.5% |
| Deferred taxes | 168 | €33,793 | €32,257 | -€1,536 | -4.5% |
| Amounts payable | 17/49 | €42,346 | €12,643 | -€29,702 | -70.1% |
| Amounts payable after more than one year | 17 | €3,761 | €3,761 | = | 0.0% |
| Other amounts payable | 178/9 | €3,761 | €3,761 | = | 0.0% |
| Amounts payable within one year | 42/48 | €38,585 | €8,882 | -€29,702 | -77.0% |
| Trade debts | 44 | €9,685 | €1,832 | -€7,852 | -81.1% |
| Suppliers | 440/4 | €9,685 | €1,832 | -€7,852 | -81.1% |
| Taxes, remuneration and social security | 45 | €5,900 | €7,050 | +€1,150 | +19.5% |
| Taxes | 450/3 | €5,900 | €7,050 | +€1,150 | +19.5% |
| Other amounts payable | 47/48 | €23,000 | - | -€23,000 | |
| Non-recurring operating income | 76A | €6,608 | €7,107 | +€499 | +7.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,579 | €40,555 | -€1,023 | -2.5% |
| Other operating charges | 640/8 | €8,288 | €7,666 | -€622 | -7.5% |
| Gross operating margin | 9900 | €49,529 | €41,499 | -€8,029 | -16.2% |
| Operating profit (loss) | 9901 | -€338 | -€6,721 | -€6,384 | -1,889% |
| Financial income | 75/76B | €8,695 | €528 | -€8,167 | -93.9% |
| Recurring financial income | 75 | €8,695 | €528 | -€8,167 | -93.9% |
| Financial charges | 65/66B | €350 | €1,089 | +€739 | +211% |
| Recurring financial charges | 65 | €350 | €1,089 | +€739 | +211% |
| Profit (loss) for the period before taxes | 9903 | €8,007 | -€7,282 | -€15,290 | |
| Transfer from deferred taxes | 780 | €1,536 | €1,536 | = | 0.0% |
| Income taxes | 67/77 | €5,992 | €158 | -€5,834 | -97.4% |
| Profit (loss) for the period | 9904 | €3,551 | -€5,904 | -€9,456 | |
| Transfer from tax-exempt reserves | 789 | €6,144 | €6,144 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €9,696 | €240 | -€9,456 | -97.5% |
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 2 November 2026 via checked.be.