DE-SA GOLD: 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.
DE-SA GOLD
Largest movements
- Cash +€11,280
up €11,280 (+65.8%), from €17,135 to €28,415
mainly Stocks and contracts (+€8,533) and Net result for the year (+€6,420)
- Stocks and contracts -€8,533
down €8,533 (-46.0%), from €18,533 to €10,000
of which Stocks: -€8,533
- Tangible fixed assets -€2,723
down €2,723 (-11.6%), from €23,449 to €20,726
- Profit (loss) carried forward +€6,420
up €6,420 (+22.1%), from -€29,112 to -€22,692
- Current portion of long-term debt -€6,362
down €6,362 (-25.0%), from €25,443 to €19,081
- Tax, wage and social debts -€893
down €893 (-10.0%), from €8,935 to €8,041
of which Taxes: -€893
- Gross operating margin +€36,759
up €36,759, from -€27,319 to €9,440
- Financial charges -€1,464
down €1,464 (-97.1%), from €1,507 to €44
- Depreciation +€862
up €862 (+46.3%), from €1,860 to €2,723
- Other operating charges -€443
down €443 (-63.5%), from €698 to €255
- Taxes -€370
no longer reported in 2025 (was €370)
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 | €61,340 | €60,792 | -€548 | -0.9% |
| Fixed assets | 21/28 | €23,449 | €20,726 | -€2,723 | -11.6% |
| Tangible fixed assets | 22/27 | €23,449 | €20,726 | -€2,723 | -11.6% |
| Plant, machinery and equipment | 23 | €23,449 | €20,726 | -€2,723 | -11.6% |
| Current assets | 29/58 | €37,891 | €40,066 | +€2,175 | +5.7% |
| Stocks and contracts in progress | 3 | €18,533 | €10,000 | -€8,533 | -46.0% |
| Stocks | 30/36 | €8,533 | - | -€8,533 | |
| Contracts in progress | 37 | €10,000 | €10,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,223 | €1,651 | -€572 | -25.7% |
| Trade receivables | 40 | €1,435 | €863 | -€572 | -39.9% |
| Other amounts receivable | 41 | €788 | €788 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €17,135 | €28,415 | +€11,280 | +65.8% |
| Total equity and liabilities | 10/49 | €61,340 | €60,792 | -€548 | -0.9% |
| Equity | 10/15 | -€29,111 | -€22,691 | +€6,420 | +22.1% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,112 | -€22,692 | +€6,420 | +22.1% |
| Amounts payable | 17/49 | €90,451 | €83,483 | -€6,967 | -7.7% |
| Amounts payable after more than one year | 17 | €38,753 | €38,753 | = | 0.0% |
| Financial debts | 170/4 | €38,753 | €38,753 | = | 0.0% |
| Amounts payable within one year | 42/48 | €51,698 | €44,730 | -€6,967 | -13.5% |
| Current portion of amounts payable after more than one year | 42 | €25,443 | €19,081 | -€6,362 | -25.0% |
| Trade debts | 44 | €72 | €360 | +€288 | +400% |
| Suppliers | 440/4 | €72 | €360 | +€288 | +400% |
| Advances received on contracts in progress | 46 | €17,247 | €17,247 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €8,935 | €8,041 | -€893 | -10.0% |
| Taxes | 450/3 | €933 | €39 | -€893 | -95.8% |
| Remuneration and social security | 454/9 | €8,002 | €8,002 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,860 | €2,723 | +€862 | +46.3% |
| Other operating charges | 640/8 | €698 | €255 | -€443 | -63.5% |
| Gross operating margin | 9900 | -€27,319 | €9,440 | +€36,759 | |
| Operating profit (loss) | 9901 | -€29,878 | €6,463 | +€36,341 | |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €1,507 | €44 | -€1,464 | -97.1% |
| Recurring financial charges | 65 | €1,507 | €44 | -€1,464 | -97.1% |
| Profit (loss) for the period before taxes | 9903 | -€31,384 | €6,420 | +€37,803 | |
| Income taxes | 67/77 | €370 | - | -€370 | |
| Profit (loss) for the period | 9904 | -€31,753 | €6,420 | +€38,173 | |
| Profit (loss) for the period to be appropriated | 9905 | -€31,753 | €6,420 | +€38,173 |
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 15 October 2026 via checked.be.