Bernard 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.
What changed
Bernard DESMET
NACE 41.001, General construction of residential buildings
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€4,770
2024 · -€9,092+€13,862
Equity
€938,457
2024 · €933,687+€4,770
Cash
€15,434
2024 · €8,816+€6,617
Balance sheet total
€1.3m
2024 · €1.4m-€31,085
Largest movements
Assets
- Tangible fixed assets -€34,496
down €34,496 (-2.7%), from €1.3m to €1.2m
of which Land and buildings: -€34,984
Equity and liabilities
- Other debts -€24,461
down €24,461 (-13.9%), from €175,438 to €150,977
Income statement
- Gross operating margin +€23,762
up €23,762 (+91.7%), from €25,904 to €49,666
- Other operating charges +€7,318
up €7,318 (+878%), from €833 to €8,151
- Taxes +€1,395
up €1,395 (+78.1%), from €1,786 to €3,181
- Depreciation +€719
up €719 (+1.8%), from €39,493 to €40,212
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.
Result 2024
-€9,092
Gross operating margin
+€23,762
Depreciation
-€719
Other operating charges
-€7,318
Financial income
-€474
Financial charges
-€5
Taxes
-€1,395
Deferred taxes and other
+€10
Result 2025
€4,770
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€15,156
Investment
-€5,716
Financing
-€2,823
Cash 2024
€8,816
From operations (derived)
+€15,156
Net result for the year
+€4,770
Depreciation
+€40,212
Stocks and contracts
+€1,396
Receivables within one year
+€1,865
Deferred charges and accrued income
-€55
Provisions
-€7,308
Trade debts
-€2,678
Tax, wage and social debts
+€1,415
Other debts
-€24,461
Investment (derived)
-€5,716
Investment in fixed assets (net)
-€5,716
Financing
-€2,823
Debts after one year
-€2,943
Current portion of long-term debt
+€120
Cash 2025
€15,434
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,352,488 | €1,321,404 | -€31,085 | -2.3% |
| Fixed assets | 21/28 | €1,278,678 | €1,244,181 | -€34,496 | -2.7% |
| Tangible fixed assets | 22/27 | €1,278,347 | €1,243,851 | -€34,496 | -2.7% |
| Land and buildings | 22 | €1,277,931 | €1,242,948 | -€34,984 | -2.7% |
| Plant, machinery and equipment | 23 | €416 | €120 | -€296 | -71.2% |
| Furniture and vehicles | 24 | - | €784 | +€784 | |
| Financial fixed assets | 28 | €330 | €330 | = | 0.0% |
| Current assets | 29/58 | €73,810 | €77,222 | +€3,412 | +4.6% |
| Stocks and contracts in progress | 3 | €55,434 | €54,037 | -€1,396 | -2.5% |
| Stocks | 30/36 | €55,434 | €54,037 | -€1,396 | -2.5% |
| Amounts receivable within one year | 40/41 | €6,813 | €4,949 | -€1,865 | -27.4% |
| Trade receivables | 40 | €5,720 | €4,679 | -€1,041 | -18.2% |
| Other amounts receivable | 41 | €1,093 | €270 | -€824 | -75.3% |
| Cash at bank and in hand | 54/58 | €8,816 | €15,434 | +€6,617 | +75.1% |
| Deferred charges and accrued income | 490/1 | €2,747 | €2,803 | +€55 | +2.0% |
| Total equity and liabilities | 10/49 | €1,352,488 | €1,321,404 | -€31,085 | -2.3% |
| Equity | 10/15 | €933,687 | €938,457 | +€4,770 | +0.5% |
| Contributions | 10/11 | €111,552 | €111,552 | = | 0.0% |
| Reserves | 13 | €699,179 | €703,853 | +€4,675 | +0.7% |
| Tax-exempt reserves | 132 | €675,223 | €653,298 | -€21,925 | -3.2% |
| Distributable reserves | 133 | €23,955 | €50,555 | +€26,600 | +111% |
| Profit (loss) carried forward | 14 | €122,956 | €123,052 | +€95 | +0.1% |
| Provisions and deferred taxes | 16 | €219,913 | €212,604 | -€7,308 | -3.3% |
| Deferred taxes | 168 | €219,913 | €212,604 | -€7,308 | -3.3% |
| Amounts payable | 17/49 | €198,889 | €170,342 | -€28,546 | -14.4% |
| Amounts payable after more than one year | 17 | €10,584 | €7,641 | -€2,943 | -27.8% |
| Financial debts | 170/4 | €10,584 | €7,641 | -€2,943 | -27.8% |
| Amounts payable within one year | 42/48 | €188,305 | €162,701 | -€25,603 | -13.6% |
| Current portion of amounts payable after more than one year | 42 | €2,823 | €2,943 | +€120 | +4.3% |
| Trade debts | 44 | €7,873 | €5,195 | -€2,678 | -34.0% |
| Suppliers | 440/4 | €7,873 | €5,195 | -€2,678 | -34.0% |
| Taxes, remuneration and social security | 45 | €2,171 | €3,586 | +€1,415 | +65.2% |
| Taxes | 450/3 | €2,171 | €3,586 | +€1,415 | +65.2% |
| Other amounts payable | 47/48 | €175,438 | €150,977 | -€24,461 | -13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,493 | €40,212 | +€719 | +1.8% |
| Other operating charges | 640/8 | €833 | €8,151 | +€7,318 | +878% |
| Gross operating margin | 9900 | €25,904 | €49,666 | +€23,762 | +91.7% |
| Operating profit (loss) | 9901 | -€14,423 | €1,303 | +€15,726 | |
| Financial income | 75/76B | €475 | €1 | -€474 | -99.7% |
| Recurring financial income | 75 | €475 | €1 | -€474 | -99.7% |
| Financial charges | 65/66B | €657 | €662 | +€5 | +0.8% |
| Recurring financial charges | 65 | €657 | €662 | +€5 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | -€14,604 | €642 | +€15,247 | |
| Transfer from deferred taxes | 780 | €7,298 | €7,308 | +€10 | +0.1% |
| Income taxes | 67/77 | €1,786 | €3,181 | +€1,395 | +78.1% |
| Profit (loss) for the period | 9904 | -€9,092 | €4,770 | +€13,862 | |
| Transfer from tax-exempt reserves | 789 | €21,892 | €21,925 | +€33 | +0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €12,800 | €26,695 | +€13,895 | +109% |
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 23 October 2026 via checked.be.