BERT DESMET MANAGEMENT: 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.
BERT DESMET MANAGEMENT
Largest movements
- Tangible fixed assets -€252,112
down €252,112 (-77.7%), from €324,605 to €72,493
of which Land and buildings: -€256,519
- Cash +€60,177
up €60,177 (+198%), from €30,407 to €90,584
mainly Investment in fixed assets (net) (+€230,343) and Net result for the year (+€171,833)
- Deferred charges and accrued income +€23,745
up €23,745 (+1,292%), from €1,838 to €25,583
- Debts after one year -€478,015
down €478,015 (-40.9%), from €1.2m to €691,819
- Advances received +€161,784
new in 2025: €161,784
- Profit (loss) carried forward +€161,400
up €161,400 (+65.1%), from €248,084 to €409,484
- Short-term financial debts -€75,000
down €75,000 (-100%), from €75,000 to €0
- Tax, wage and social debts +€56,255
up €56,255 (+101%), from €55,890 to €112,145
of which Taxes: +€49,211
- Gross operating margin +€258,246
up €258,246 (+247%), from €104,675 to €362,921
- Staff costs +€81,639
new in 2025: €81,639
- Taxes +€38,738
up €38,738 (+172%), from €22,461 to €61,199
- Financial charges +€5,486
up €5,486 (+47.0%), from €11,672 to €17,158
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 | €1,770,583 | €1,603,002 | -€167,581 | -9.5% |
| Fixed assets | 21/28 | €1,738,338 | €1,486,226 | -€252,112 | -14.5% |
| Tangible fixed assets | 22/27 | €324,605 | €72,493 | -€252,112 | -77.7% |
| Land and buildings | 22 | €317,500 | €60,981 | -€256,519 | -80.8% |
| Plant, machinery and equipment | 23 | €6,415 | €5,560 | -€855 | -13.3% |
| Furniture and vehicles | 24 | €689 | €5,952 | +€5,262 | +763% |
| Financial fixed assets | 28 | €1,413,733 | €1,413,733 | = | 0.0% |
| Current assets | 29/58 | €32,245 | €116,776 | +€84,531 | +262% |
| Amounts receivable within one year | 40/41 | €0 | €609 | +€609 | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | €609 | +€609 | |
| Cash at bank and in hand | 54/58 | €30,407 | €90,584 | +€60,177 | +198% |
| Deferred charges and accrued income | 490/1 | €1,838 | €25,583 | +€23,745 | +1,292% |
| Total equity and liabilities | 10/49 | €1,770,583 | €1,603,002 | -€167,581 | -9.5% |
| Equity | 10/15 | €365,707 | €537,540 | +€171,833 | +47.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €99,023 | €109,456 | +€10,433 | +10.5% |
| Tax-exempt reserves | 132 | €83,610 | €94,043 | +€10,433 | +12.5% |
| Distributable reserves | 133 | €15,414 | €15,414 | = | 0.0% |
| Profit (loss) carried forward | 14 | €248,084 | €409,484 | +€161,400 | +65.1% |
| Provisions and deferred taxes | 16 | €21,931 | €25,409 | +€3,478 | +15.9% |
| Deferred taxes | 168 | €21,931 | €25,409 | +€3,478 | +15.9% |
| Amounts payable | 17/49 | €1,382,945 | €1,040,053 | -€342,892 | -24.8% |
| Amounts payable after more than one year | 17 | €1,169,834 | €691,819 | -€478,015 | -40.9% |
| Financial debts | 170/4 | €1,169,834 | €691,819 | -€478,015 | -40.9% |
| Amounts payable within one year | 42/48 | €213,111 | €347,773 | +€134,662 | +63.2% |
| Current portion of amounts payable after more than one year | 42 | €43,770 | €42,009 | -€1,761 | -4.0% |
| Financial debts | 43 | €75,000 | €0 | -€75,000 | -100% |
| Credit institutions | 430/8 | €75,000 | €0 | -€75,000 | -100% |
| Trade debts | 44 | €1,381 | €9,512 | +€8,131 | +589% |
| Suppliers | 440/4 | €1,381 | €9,512 | +€8,131 | +589% |
| Advances received on contracts in progress | 46 | - | €161,784 | +€161,784 | |
| Taxes, remuneration and social security | 45 | €55,890 | €112,145 | +€56,255 | +101% |
| Taxes | 450/3 | €55,890 | €105,101 | +€49,211 | +88.0% |
| Remuneration and social security | 454/9 | - | €7,044 | +€7,044 | |
| Other amounts payable | 47/48 | €37,070 | €22,323 | -€14,747 | -39.8% |
| Accrued charges and deferred income | 492/3 | - | €461 | +€461 | |
| Non-recurring operating income | 76A | - | €106,500 | +€106,500 | |
| Remuneration, social security and pensions | 62 | - | €81,639 | +€81,639 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,671 | €21,769 | -€2,902 | -11.8% |
| Other operating charges | 640/8 | €4,279 | €6,654 | +€2,375 | +55.5% |
| Gross operating margin | 9900 | €104,675 | €362,921 | +€258,246 | +247% |
| Operating profit (loss) | 9901 | €75,725 | €252,859 | +€177,134 | +234% |
| Financial income | 75/76B | €18 | €808 | +€790 | +4,315% |
| Recurring financial income | 75 | €18 | €808 | +€790 | +4,315% |
| Financial charges | 65/66B | €11,672 | €17,158 | +€5,486 | +47.0% |
| Recurring financial charges | 65 | €11,672 | €17,158 | +€5,486 | +47.0% |
| Profit (loss) for the period before taxes | 9903 | €64,072 | €236,509 | +€172,437 | +269% |
| Transfer from deferred taxes | 780 | €2,783 | €23,147 | +€20,364 | +732% |
| Transfer to deferred taxes | 680 | - | €26,625 | +€26,625 | |
| Income taxes | 67/77 | €22,461 | €61,199 | +€38,738 | +172% |
| Profit (loss) for the period | 9904 | €44,394 | €171,833 | +€127,439 | +287% |
| Transfer from tax-exempt reserves | 789 | €8,348 | €69,442 | +€61,093 | +732% |
| Transfer to tax-exempt reserves | 689 | - | €79,875 | +€79,875 | |
| Profit (loss) for the period to be appropriated | 9905 | €52,742 | €161,400 | +€108,658 | +206% |
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 18 October 2026 via checked.be.