DEGROEP: 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.
DEGROEP
Largest movements
- Receivables within one year +€361,030
up €361,030 (+40.5%), from €891,234 to €1.3m
of which Other amounts receivable: +€400,576
- Receivables after one year -€130,000
down €130,000 (-54.5%), from €238,609 to €108,609
- Tangible fixed assets +€79,952
up €79,952 (+55.9%), from €143,087 to €223,039
of which Furniture and vehicles: +€94,238
- Cash +€75,920
up €75,920 (+361%), from €21,056 to €96,976
mainly Short-term financial debts (+€500,000) and Net result for the year (+€203,696)
- Short-term financial debts +€500,000
new in 2025: €500,000
- Debts after one year -€373,426
down €373,426 (-88.3%), from €423,024 to €49,597
- Reserves +€202,189
up €202,189 (+25.8%), from €784,193 to €986,382
of which Distributable reserves: +€202,189
- Tax, wage and social debts +€42,529
up €42,529 (+56.0%), from €75,880 to €118,410
of which Taxes: +€44,429
- Gross operating margin +€114,021
up €114,021 (+63.4%), from €179,793 to €293,815
- Taxes +€41,938
up €41,938 (+71.3%), from €58,858 to €100,795
- Depreciation +€19,958
up €19,958 (+282%), from €7,075 to €27,034
- Financial income +€16,848
up €16,848 (+41.9%), from €40,214 to €57,062
- Financial charges -€6,592
down €6,592 (-29.3%), from €22,517 to €15,926
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 | €1,299,398 | €1,686,123 | +€386,724 | +29.8% |
| Fixed assets | 21/28 | €143,087 | €223,039 | +€79,952 | +55.9% |
| Tangible fixed assets | 22/27 | €143,087 | €223,039 | +€79,952 | +55.9% |
| Land and buildings | 22 | €127,613 | €113,327 | -€14,285 | -11.2% |
| Furniture and vehicles | 24 | €15,474 | €109,712 | +€94,238 | +609% |
| Current assets | 29/58 | €1,156,311 | €1,463,083 | +€306,772 | +26.5% |
| Amounts receivable after more than one year | 29 | €238,609 | €108,609 | -€130,000 | -54.5% |
| Other amounts receivable | 291 | €238,609 | €108,609 | -€130,000 | -54.5% |
| Amounts receivable within one year | 40/41 | €891,234 | €1,252,263 | +€361,030 | +40.5% |
| Trade receivables | 40 | €71,931 | €32,384 | -€39,546 | -55.0% |
| Other amounts receivable | 41 | €819,303 | €1,219,879 | +€400,576 | +48.9% |
| Cash at bank and in hand | 54/58 | €21,056 | €96,976 | +€75,920 | +361% |
| Deferred charges and accrued income | 490/1 | €5,412 | €5,234 | -€178 | -3.3% |
| Total equity and liabilities | 10/49 | €1,299,398 | €1,686,123 | +€386,724 | +29.8% |
| Equity | 10/15 | €791,193 | €993,382 | +€202,189 | +25.6% |
| Contributions | 10/11 | €7,000 | €7,000 | = | 0.0% |
| Reserves | 13 | €784,193 | €986,382 | +€202,189 | +25.8% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €782,338 | €984,527 | +€202,189 | +25.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €508,205 | €692,740 | +€184,535 | +36.3% |
| Amounts payable after more than one year | 17 | €423,024 | €49,597 | -€373,426 | -88.3% |
| Financial debts | 170/4 | €423,024 | €49,597 | -€373,426 | -88.3% |
| Amounts payable within one year | 42/48 | €85,181 | €643,063 | +€557,882 | +655% |
| Current portion of amounts payable after more than one year | 42 | €8,167 | €22,848 | +€14,682 | +180% |
| Financial debts | 43 | - | €500,000 | +€500,000 | |
| Credit institutions | 430/8 | - | €500,000 | +€500,000 | |
| Trade debts | 44 | €1,134 | €524 | -€610 | -53.8% |
| Suppliers | 440/4 | €1,134 | €524 | -€610 | -53.8% |
| Taxes, remuneration and social security | 45 | €75,880 | €118,410 | +€42,529 | +56.0% |
| Taxes | 450/3 | €73,980 | €118,410 | +€44,429 | +60.1% |
| Remuneration and social security | 454/9 | €1,900 | €0 | -€1,900 | -100% |
| Other amounts payable | 47/48 | €0 | €1,281 | +€1,281 | |
| Accrued charges and deferred income | 492/3 | €0 | €80 | +€80 | |
| Non-recurring operating income | 76A | - | €61,175 | +€61,175 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,075 | €27,034 | +€19,958 | +282% |
| Other operating charges | 640/8 | €2,614 | €3,425 | +€811 | +31.0% |
| Gross operating margin | 9900 | €179,793 | €293,815 | +€114,021 | +63.4% |
| Operating profit (loss) | 9901 | €170,104 | €263,356 | +€93,251 | +54.8% |
| Financial income | 75/76B | €40,214 | €57,062 | +€16,848 | +41.9% |
| Recurring financial income | 75 | €40,214 | €57,062 | +€16,848 | +41.9% |
| Financial charges | 65/66B | €22,517 | €15,926 | -€6,592 | -29.3% |
| Recurring financial charges | 65 | €22,517 | €15,926 | -€6,592 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | €187,801 | €304,492 | +€116,691 | +62.1% |
| Income taxes | 67/77 | €58,858 | €100,795 | +€41,938 | +71.3% |
| Profit (loss) for the period | 9904 | €128,943 | €203,696 | +€74,753 | +58.0% |
| Profit (loss) for the period to be appropriated | 9905 | €128,943 | €203,696 | +€74,753 | +58.0% |
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 28 October 2026 via checked.be.