DE SUTTER: what changed
Two fiscal 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
DE SUTTER
NACE 43.320, Joinery installation
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€282,805
2023 · €949,823-€667,018
Equity
€6.9m
2023 · €6.6m+€282,805
Cash
€276,893
2023 · €118,376+€158,517
Balance sheet total
€19.0m
2023 · €15.1m+€4.0m
Largest movements
Assets
- Tangible fixed assets +€4.4m
up €4.4m (+76.1%), from €5.7m to €10.1m
of which Assets under construction and advance payments: +€4.6m
- Stocks and contracts -€872,382
down €872,382 (-19.2%), from €4.5m to €3.7m
- Receivables within one year +€337,319
up €337,319 (+21.4%), from €1.6m to €1.9m
of which Other amounts receivable: +€258,989
Equity and liabilities
- Debts after one year +€4.0m
up €4.0m (+107.6%), from €3.8m to €7.8m
- Short-term financial debts -€1.0m
down €1.0m (-77.1%), from €1.3m to €300,000
- Trade debts +€597,253
up €597,253 (+37.6%), from €1.6m to €2.2m
- Current portion of long-term debt +€300,381
up €300,381 (+30.2%), from €994,347 to €1.3m
- Profit (loss) carried forward +€282,805
up €282,805 (+5.4%), from €5.2m to €5.5m
Income statement
- Turnover -€827,535
down €827,535 (-6.3%), from €13.2m to €12.4m
- Services and other goods +€269,639
up €269,639 (+5.6%), from €4.8m to €5.1m
- Staff costs -€215,249
down €215,249 (-11.6%), from €1.9m to €1.6m
- Goods and materials -€190,055
down €190,055 (-3.8%), from €5.0m to €4.8m
of which Purchases: -€1.9m
- Taxes -€188,677
down €188,677 (-65.0%), from €290,147 to €101,470
of which Taxes: -€223,530
From the 2023 result to the 2024 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 2023
€949,823
Turnover
-€827,535
Other operating income
-€73,112
Goods and materials
+€190,055
Services and other goods
-€269,639
Staff costs
+€215,249
Depreciation
-€34,322
Write-downs
+€2,231
Other operating charges
-€15,780
Other operating items
+€4,426
Financial income
+€20,301
Financial charges
-€67,569
Taxes
+€188,677
Result 2024
€282,805
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€1.5m
Investment
-€4.7m
Financing
+€3.3m
Cash 2023
€118,376
From operations (derived)
+€1.5m
Net result for the year
+€282,805
Depreciation
+€300,424
Stocks and contracts
+€872,382
Receivables within one year
-€337,319
Deferred charges and accrued income
-€8,338
Trade debts
+€597,253
Tax, wage and social debts
-€144,367
Advances received
-€39,012
Other debts
-€36,914
Investment (derived)
-€4.7m
Investment in fixed assets (net)
-€4.7m
Financing
+€3.3m
Debts after one year
+€4.0m
Current portion of long-term debt
+€300,381
Short-term financial debts
-€1.0m
Cash 2024
€276,893
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,050,566 | €19,042,283 | +€4.0m | +26.5% |
| Fixed assets | 21/28 | €8,787,072 | €13,146,998 | +€4.4m | +49.6% |
| Intangible fixed assets | 21 | €45,442 | €54,651 | +€9,209 | +20.3% |
| Tangible fixed assets | 22/27 | €5,722,108 | €10,076,857 | +€4.4m | +76.1% |
| Land and buildings | 22 | €5,088,969 | €4,961,585 | -€127,384 | -2.5% |
| Plant, machinery and equipment | 23 | €288,861 | €214,720 | -€74,141 | -25.7% |
| Furniture and vehicles | 24 | €125,874 | €56,976 | -€68,898 | -54.7% |
| Other tangible fixed assets | 26 | €22,792 | €7,331 | -€15,461 | -67.8% |
| Assets under construction and advance payments | 27 | €195,611 | €4,836,245 | +€4.6m | +2372.4% |
| Financial fixed assets | 28 | €3,019,523 | €3,015,490 | -€4,033 | -0.1% |
| Affiliated companies | 280/1 | €2,833,080 | €2,810,000 | -€23,080 | -0.8% |
| Participating interests | 280 | €2,833,080 | €2,810,000 | -€23,080 | -0.8% |
| Companies linked by participating interests | 282/3 | - | €182,000 | +€182,000 | |
| Participating interests | 282 | - | €182,000 | +€182,000 | |
| Other financial fixed assets | 284/8 | €186,443 | €23,490 | -€162,953 | -87.4% |
| Shares | 284 | - | €23,080 | +€23,080 | |
| Amounts receivable and cash guarantees | 285/8 | €186,443 | €410 | -€186,033 | -99.8% |
| Current assets | 29/58 | €6,263,493 | €5,895,285 | -€368,208 | -5.9% |
| Stocks and contracts in progress | 3 | €4,543,247 | €3,670,865 | -€872,382 | -19.2% |
| Stocks | 30/36 | €4,543,247 | €3,670,865 | -€872,382 | -19.2% |
| Raw materials and consumables | 30/31 | €4,543,247 | - | -€4.5m | |
| Goods purchased for resale | 34 | - | €3,670,865 | +€3.7m | |
| Amounts receivable within one year | 40/41 | €1,579,265 | €1,916,584 | +€337,319 | +21.4% |
| Trade receivables | 40 | €1,170,374 | €1,248,703 | +€78,330 | +6.7% |
| Other amounts receivable | 41 | €408,891 | €667,881 | +€258,989 | +63.3% |
| Cash at bank and in hand | 54/58 | €118,376 | €276,893 | +€158,517 | +133.9% |
| Deferred charges and accrued income | 490/1 | €22,605 | €30,943 | +€8,338 | +36.9% |
| Total equity and liabilities | 10/49 | €15,050,566 | €19,042,283 | +€4.0m | +26.5% |
| Equity | 10/15 | €6,643,897 | €6,926,702 | +€282,805 | +4.3% |
| Contributions | 10/11 | €654,800 | €654,800 | = | 0.0% |
| Reserves | 13 | €793,922 | €793,922 | = | 0.0% |
| Non-distributable reserves | 130/1 | €67,340 | - | -€67,340 | |
| Reserves not available under the articles | 1311 | €67,340 | - | -€67,340 | |
| Tax-exempt reserves | 132 | €4,958 | €4,958 | = | 0.0% |
| Distributable reserves | 133 | €721,624 | €788,964 | +€67,340 | +9.3% |
| Profit (loss) carried forward | 14 | €5,195,176 | €5,477,980 | +€282,805 | +5.4% |
| Amounts payable | 17/49 | €8,406,668 | €12,115,582 | +€3.7m | +44.1% |
| Amounts payable after more than one year | 17 | €3,756,036 | €7,796,721 | +€4.0m | +107.6% |
| Financial debts | 170/4 | €3,756,036 | €7,796,721 | +€4.0m | +107.6% |
| Credit institutions | 173 | €3,756,036 | €7,796,721 | +€4.0m | +107.6% |
| Amounts payable within one year | 42/48 | €4,650,632 | €4,318,860 | -€331,772 | -7.1% |
| Current portion of amounts payable after more than one year | 42 | €994,347 | €1,294,729 | +€300,381 | +30.2% |
| Financial debts | 43 | €1,309,113 | €300,000 | -€1.0m | -77.1% |
| Credit institutions | 430/8 | €1,309,113 | €300,000 | -€1.0m | -77.1% |
| Trade debts | 44 | €1,589,696 | €2,186,948 | +€597,253 | +37.6% |
| Suppliers | 440/4 | €1,589,696 | €2,186,948 | +€597,253 | +37.6% |
| Advances received on contracts in progress | 46 | €397,358 | €358,346 | -€39,012 | -9.8% |
| Taxes, remuneration and social security | 45 | €272,542 | €128,175 | -€144,367 | -53.0% |
| Taxes | 450/3 | €67,548 | €29,088 | -€38,460 | -56.9% |
| Remuneration and social security | 454/9 | €204,994 | €99,087 | -€105,907 | -51.7% |
| Other amounts payable | 47/48 | €87,577 | €50,663 | -€36,914 | -42.2% |
| Operating income | 70/76A | €13,379,295 | €12,478,648 | -€900,647 | -6.7% |
| Turnover | 70 | €13,201,504 | €12,373,969 | -€827,535 | -6.3% |
| Other operating income | 74 | €177,792 | €104,680 | -€73,112 | -41.1% |
| Operating charges | 60/66A | €11,968,204 | €11,875,985 | -€92,220 | -0.8% |
| Goods for resale, raw materials and consumables | 60 | €4,965,025 | €4,774,970 | -€190,055 | -3.8% |
| Purchases | 600/8 | €5,765,024 | €3,902,588 | -€1.9m | -32.3% |
| Change in stocks: decrease (increase) | 609 | -€800,000 | €872,382 | +€1.7m | |
| Services and other goods | 61 | €4,819,655 | €5,089,294 | +€269,639 | +5.6% |
| Remuneration, social security and pensions | 62 | €1,856,025 | €1,640,776 | -€215,249 | -11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €266,102 | €300,424 | +€34,322 | +12.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €68 | -€2,163 | -€2,231 | |
| Other operating charges | 640/8 | €56,655 | €72,435 | +€15,780 | +27.9% |
| Non-recurring operating charges | 66A | €4,675 | €249 | -€4,426 | -94.7% |
| Operating profit (loss) | 9901 | €1,411,091 | €602,664 | -€808,427 | -57.3% |
| Financial income | 75/76B | €2,820 | €23,121 | +€20,301 | +719.9% |
| Recurring financial income | 75 | €2,820 | €23,121 | +€20,301 | +719.9% |
| Income from current assets | 751 | - | €17,929 | +€17,929 | |
| Other financial income | 752/9 | €2,820 | €5,192 | +€2,372 | +84.1% |
| Financial charges | 65/66B | €173,941 | €241,510 | +€67,569 | +38.8% |
| Recurring financial charges | 65 | €173,941 | €241,510 | +€67,569 | +38.8% |
| Debt charges | 650 | - | €240,352 | +€240,352 | |
| Other financial charges | 652/9 | €173,941 | €1,158 | -€172,783 | -99.3% |
| Profit (loss) for the period before taxes | 9903 | €1,239,970 | €384,275 | -€855,695 | -69.0% |
| Income taxes | 67/77 | €290,147 | €101,470 | -€188,677 | -65.0% |
| Taxes | 670/3 | €325,000 | €101,470 | -€223,530 | -68.8% |
| Tax adjustments and reversals of tax provisions | 77 | €34,853 | - | -€34,853 | |
| Profit (loss) for the period | 9904 | €949,823 | €282,805 | -€667,018 | -70.2% |
| Profit (loss) for the period to be appropriated | 9905 | €949,823 | €282,805 | -€667,018 | -70.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.