Ben Desmet: 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.
Ben Desmet
Largest movements
- Current investments +€159,271
up €159,271 (+5,492%), from €2,900 to €162,171
- Cash -€17,221
down €17,221 (-31.2%), from €55,249 to €38,027
mainly Current investments (-€159,271) and Investment in fixed assets (net) (-€12,261)
- Receivables after one year +€9,581
new in 2025: €9,581
- Tangible fixed assets +€3,259
up €3,259 (+5.0%), from €64,661 to €67,920
of which Furniture and vehicles: +€5,480
- Reserves +€134,370
up €134,370 (+181%), from €74,187 to €208,557
- Tax, wage and social debts +€29,566
up €29,566 (+375%), from €7,882 to €37,448
of which Taxes: +€27,060
- Debts after one year -€7,586
down €7,586 (-43.0%), from €17,648 to €10,062
- Trade debts -€3,030
down €3,030 (-64.2%), from €4,717 to €1,686
- Gross operating margin +€122,301
up €122,301 (+186%), from €65,657 to €187,958
- Taxes +€29,703
up €29,703 (+254%), from €11,704 to €41,407
- Depreciation +€3,762
up €3,762 (+71.8%), from €5,239 to €9,001
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 | €127,924 | €282,268 | +€154,345 | +121% |
| Fixed assets | 21/28 | €64,661 | €67,920 | +€3,259 | +5.0% |
| Tangible fixed assets | 22/27 | €64,661 | €67,920 | +€3,259 | +5.0% |
| Plant, machinery and equipment | 23 | - | €4,992 | +€4,992 | |
| Furniture and vehicles | 24 | €4,056 | €9,536 | +€5,480 | +135% |
| Other tangible fixed assets | 26 | €60,604 | €53,392 | -€7,213 | -11.9% |
| Current assets | 29/58 | €63,263 | €214,348 | +€151,085 | +239% |
| Amounts receivable after more than one year | 29 | - | €9,581 | +€9,581 | |
| Other amounts receivable | 291 | - | €9,581 | +€9,581 | |
| Amounts receivable within one year | 40/41 | €586 | €32 | -€554 | -94.5% |
| Trade receivables | 40 | €580 | €17 | -€563 | -97.0% |
| Other amounts receivable | 41 | €6 | €15 | +€9 | +140% |
| Current investments | 50/53 | €2,900 | €162,171 | +€159,271 | +5,492% |
| Cash at bank and in hand | 54/58 | €55,249 | €38,027 | -€17,221 | -31.2% |
| Deferred charges and accrued income | 490/1 | €4,528 | €4,536 | +€8 | +0.2% |
| Total equity and liabilities | 10/49 | €127,924 | €282,268 | +€154,345 | +121% |
| Equity | 10/15 | €89,187 | €223,557 | +€134,370 | +151% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €74,187 | €208,557 | +€134,370 | +181% |
| Distributable reserves | 133 | €74,187 | €208,557 | +€134,370 | +181% |
| Amounts payable | 17/49 | €38,737 | €58,712 | +€19,975 | +51.6% |
| Amounts payable after more than one year | 17 | €17,648 | €10,062 | -€7,586 | -43.0% |
| Financial debts | 170/4 | €17,648 | €10,062 | -€7,586 | -43.0% |
| Amounts payable within one year | 42/48 | €21,089 | €48,650 | +€27,562 | +131% |
| Current portion of amounts payable after more than one year | 42 | €7,198 | €7,586 | +€389 | +5.4% |
| Financial debts | 43 | €756 | €1,456 | +€700 | +92.6% |
| Credit institutions | 430/8 | €756 | €1,456 | +€700 | +92.6% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €4,717 | €1,686 | -€3,030 | -64.2% |
| Suppliers | 440/4 | €4,717 | €1,686 | -€3,030 | -64.2% |
| Taxes, remuneration and social security | 45 | €7,882 | €37,448 | +€29,566 | +375% |
| Taxes | 450/3 | €7,882 | €34,942 | +€27,060 | +343% |
| Remuneration and social security | 454/9 | - | €2,506 | +€2,506 | |
| Other amounts payable | 47/48 | €536 | €473 | -€63 | -11.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,239 | €9,001 | +€3,762 | +71.8% |
| Other operating charges | 640/8 | €496 | €766 | +€270 | +54.4% |
| Gross operating margin | 9900 | €65,657 | €187,958 | +€122,301 | +186% |
| Operating profit (loss) | 9901 | €59,922 | €178,191 | +€118,269 | +197% |
| Financial income | 75/76B | €0 | €173 | +€173 | +862,950% |
| Recurring financial income | 75 | €0 | €173 | +€173 | +862,950% |
| Financial charges | 65/66B | €2,191 | €2,587 | +€396 | +18.1% |
| Recurring financial charges | 65 | €2,191 | €2,587 | +€396 | +18.1% |
| Profit (loss) for the period before taxes | 9903 | €57,732 | €175,777 | +€118,045 | +204% |
| Income taxes | 67/77 | €11,704 | €41,407 | +€29,703 | +254% |
| Profit (loss) for the period | 9904 | €46,028 | €134,370 | +€88,342 | +192% |
| Profit (loss) for the period to be appropriated | 9905 | €46,028 | €134,370 | +€88,342 | +192% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.