DESA: 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.
DESA
Largest movements
- Current investments +€250,000
up €250,000 (+8.3%), from €3.0m to €3.3m
- Tangible fixed assets -€215,840
down €215,840 (-2.1%), from €10.4m to €10.2m
of which Land and buildings: -€217,673
- Cash +€192,683
up €192,683 (+88.0%), from €219,049 to €411,732
mainly Depreciation (+€225,144) and Other debts (+€150,422)
No liability line moved by more than 1% of the balance sheet total.
- Financial charges +€38,752
up €38,752 (+50.0%), from €77,539 to €116,291
- Gross operating margin -€7,320
down €7,320 (-2.5%), from €287,446 to €280,126
- Financial income +€6,499
up €6,499 (+5.1%), from €127,811 to €134,310
- Other operating charges +€3,901
up €3,901 (+16.6%), from €23,520 to €27,421
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.
Cash bridge derived
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 | €15,538,528 | €15,763,468 | +€224,939 | +1.4% |
| Fixed assets | 21/28 | €10,400,177 | €10,184,337 | -€215,840 | -2.1% |
| Tangible fixed assets | 22/27 | €10,400,177 | €10,184,337 | -€215,840 | -2.1% |
| Land and buildings | 22 | €10,379,520 | €10,161,847 | -€217,673 | -2.1% |
| Plant, machinery and equipment | 23 | €3,560 | €7,805 | +€4,245 | +119.2% |
| Furniture and vehicles | 24 | €17,097 | €14,685 | -€2,411 | -14.1% |
| Current assets | 29/58 | €5,138,351 | €5,579,131 | +€440,779 | +8.6% |
| Amounts receivable within one year | 40/41 | €1,876,581 | €1,874,941 | -€1,641 | -0.1% |
| Other amounts receivable | 41 | €1,876,581 | €1,874,941 | -€1,641 | -0.1% |
| Current investments | 50/53 | €3,000,000 | €3,250,000 | +€250,000 | +8.3% |
| Cash at bank and in hand | 54/58 | €219,049 | €411,732 | +€192,683 | +88.0% |
| Deferred charges and accrued income | 490/1 | €42,722 | €42,459 | -€263 | -0.6% |
| Total equity and liabilities | 10/49 | €15,538,528 | €15,763,468 | +€224,939 | +1.4% |
| Equity | 10/15 | €12,883,867 | €12,929,447 | +€45,579 | +0.4% |
| Contributions | 10/11 | €6,720,749 | €6,720,749 | = | 0.0% |
| Revaluation surpluses | 12 | €125,200 | €125,200 | = | 0.0% |
| Reserves | 13 | €6,037,919 | €6,083,498 | +€45,579 | +0.8% |
| Distributable reserves | 133 | €6,037,919 | €6,083,498 | +€45,579 | +0.8% |
| Amounts payable | 17/49 | €2,654,661 | €2,834,021 | +€179,360 | +6.8% |
| Amounts payable within one year | 42/48 | €2,556,128 | €2,710,053 | +€153,924 | +6.0% |
| Trade debts | 44 | €1,517 | €5,019 | +€3,503 | +230.9% |
| Suppliers | 440/4 | €1,517 | €5,019 | +€3,503 | +230.9% |
| Other amounts payable | 47/48 | €2,554,612 | €2,705,033 | +€150,422 | +5.9% |
| Accrued charges and deferred income | 492/3 | €98,532 | €123,968 | +€25,436 | +25.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €224,952 | €225,144 | +€192 | +0.1% |
| Other operating charges | 640/8 | €23,520 | €27,421 | +€3,901 | +16.6% |
| Gross operating margin | 9900 | €287,446 | €280,126 | -€7,320 | -2.5% |
| Operating profit (loss) | 9901 | €38,973 | €27,561 | -€11,413 | -29.3% |
| Financial income | 75/76B | €127,811 | €134,310 | +€6,499 | +5.1% |
| Recurring financial income | 75 | €127,811 | €134,310 | +€6,499 | +5.1% |
| Financial charges | 65/66B | €77,539 | €116,291 | +€38,752 | +50.0% |
| Recurring financial charges | 65 | €77,539 | €116,291 | +€38,752 | +50.0% |
| Profit (loss) for the period before taxes | 9903 | €89,245 | €45,579 | -€43,666 | -48.9% |
| Profit (loss) for the period | 9904 | €89,245 | €45,579 | -€43,666 | -48.9% |
| Profit (loss) for the period to be appropriated | 9905 | €89,245 | €45,579 | -€43,666 | -48.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.