DESAEGER: 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.
DESAEGER
Largest movements
- Cash +€160,796
up €160,796 (+113%), from €142,864 to €303,660
mainly Net result for the year (+€94,323) and Depreciation (+€63,571)
- Tangible fixed assets -€58,227
down €58,227 (-14.8%), from €394,645 to €336,418
- Receivables within one year -€9,530
down €9,530 (-42.0%), from €22,675 to €13,145
of which Trade receivables: -€16,219
- Reserves +€64,323
up €64,323 (+41.3%), from €155,817 to €220,141
of which Distributable reserves: +€62,463
- Other debts +€36,016
up €36,016 (+82.9%), from €43,470 to €79,486
- Debts after one year -€35,123
down €35,123 (-25.2%), from €139,523 to €104,400
- Tax, wage and social debts +€33,874
up €33,874 (+51.0%), from €66,432 to €100,307
of which Taxes: +€19,915
- Gross operating margin +€116,542
up €116,542 (+31.9%), from €364,784 to €481,326
- Staff costs +€25,928
up €25,928 (+10.5%), from €246,886 to €272,814
- Taxes +€16,134
up €16,134 (+138%), from €11,691 to €27,824
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 | €567,448 | €657,489 | +€90,040 | +15.9% |
| Fixed assets | 21/28 | €394,645 | €336,418 | -€58,227 | -14.8% |
| Tangible fixed assets | 22/27 | €394,645 | €336,418 | -€58,227 | -14.8% |
| Land and buildings | 22 | €253,747 | €235,394 | -€18,353 | -7.2% |
| Plant, machinery and equipment | 23 | €40,236 | €34,642 | -€5,595 | -13.9% |
| Furniture and vehicles | 24 | €84,763 | €61,083 | -€23,680 | -27.9% |
| Leasing and similar rights | 25 | €15,900 | €5,300 | -€10,600 | -66.7% |
| Current assets | 29/58 | €172,803 | €321,070 | +€148,267 | +85.8% |
| Stocks and contracts in progress | 3 | €7,264 | €4,264 | -€2,999 | -41.3% |
| Stocks | 30/36 | €7,264 | €4,264 | -€2,999 | -41.3% |
| Amounts receivable within one year | 40/41 | €22,675 | €13,145 | -€9,530 | -42.0% |
| Trade receivables | 40 | €22,126 | €5,907 | -€16,219 | -73.3% |
| Other amounts receivable | 41 | €549 | €7,238 | +€6,689 | +1,219% |
| Cash at bank and in hand | 54/58 | €142,864 | €303,660 | +€160,796 | +113% |
| Total equity and liabilities | 10/49 | €567,448 | €657,489 | +€90,040 | +15.9% |
| Equity | 10/15 | €174,417 | €238,741 | +€64,323 | +36.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €155,817 | €220,141 | +€64,323 | +41.3% |
| Non-distributable reserves | 130/1 | - | €1,860 | +€1,860 | |
| Reserves not available under the articles | 1311 | - | €1,860 | +€1,860 | |
| Distributable reserves | 133 | €155,817 | €218,281 | +€62,463 | +40.1% |
| Amounts payable | 17/49 | €393,031 | €418,748 | +€25,717 | +6.5% |
| Amounts payable after more than one year | 17 | €139,523 | €104,400 | -€35,123 | -25.2% |
| Financial debts | 170/4 | €139,523 | €104,400 | -€35,123 | -25.2% |
| Amounts payable within one year | 42/48 | €253,508 | €314,348 | +€60,840 | +24.0% |
| Current portion of amounts payable after more than one year | 42 | €38,639 | €35,123 | -€3,516 | -9.1% |
| Trade debts | 44 | €104,966 | €99,433 | -€5,534 | -5.3% |
| Suppliers | 440/4 | €104,966 | €99,433 | -€5,534 | -5.3% |
| Taxes, remuneration and social security | 45 | €66,432 | €100,307 | +€33,874 | +51.0% |
| Taxes | 450/3 | €16,659 | €36,574 | +€19,915 | +120% |
| Remuneration and social security | 454/9 | €49,774 | €63,733 | +€13,959 | +28.0% |
| Other amounts payable | 47/48 | €43,470 | €79,486 | +€36,016 | +82.9% |
| Non-recurring operating income | 76A | €9,108 | - | -€9,108 | |
| Remuneration, social security and pensions | 62 | €246,886 | €272,814 | +€25,928 | +10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,552 | €63,571 | -€1,980 | -3.0% |
| Other operating charges | 640/8 | €9,073 | €9,103 | +€30 | +0.3% |
| Gross operating margin | 9900 | €364,784 | €481,326 | +€116,542 | +31.9% |
| Operating profit (loss) | 9901 | €43,273 | €135,838 | +€92,565 | +214% |
| Financial income | 75/76B | €421 | €80 | -€341 | -81.0% |
| Recurring financial income | 75 | €421 | €80 | -€341 | -81.0% |
| Financial charges | 65/66B | €12,393 | €13,770 | +€1,377 | +11.1% |
| Recurring financial charges | 65 | €12,393 | €13,770 | +€1,377 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €31,301 | €122,148 | +€90,846 | +290% |
| Income taxes | 67/77 | €11,691 | €27,824 | +€16,134 | +138% |
| Profit (loss) for the period | 9904 | €19,611 | €94,323 | +€74,713 | +381% |
| Profit (loss) for the period to be appropriated | 9905 | €19,611 | €94,323 | +€74,713 | +381% |
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 26 October 2026 via checked.be.