DESAER BART: 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.
DESAER BART
Largest movements
- Cash +€373,965
up €373,965 (+43.8%), from €854,052 to €1.2m
mainly Net result for the year (+€450,314) and Receivables after one year (+€192,000)
- Receivables after one year -€192,000
no longer reported in 2025 (was €192,000)
- Receivables within one year -€188,778
down €188,778 (-53.9%), from €349,983 to €161,205
of which Other amounts receivable: -€154,896
- Current investments -€125,000
no longer reported in 2025 (was €125,000)
- Stocks and contracts +€47,159
up €47,159 (+22.9%), from €205,986 to €253,145
- Other debts +€146,748
up €146,748 (+734%), from €20,000 to €166,748
- Reserves -€107,000
down €107,000 (-5.4%), from €2.0m to €1.9m
- Debts after one year -€68,801
down €68,801 (-27.1%), from €253,694 to €184,893
- Gross operating margin +€172,948
up €172,948 (+20.9%), from €825,958 to €998,906
- Taxes +€70,521
up €70,521 (+53.5%), from €131,936 to €202,457
- Staff costs -€57,110
down €57,110 (-19.7%), from €289,712 to €232,603
- Financial income -€15,401
down €15,401 (-50.3%), from €30,603 to €15,202
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 | €2,606,128 | €2,562,459 | -€43,669 | -1.7% |
| Fixed assets | 21/28 | €866,124 | €908,208 | +€42,084 | +4.9% |
| Intangible fixed assets | 21 | €3,393 | €2,235 | -€1,158 | -34.1% |
| Tangible fixed assets | 22/27 | €862,731 | €905,973 | +€43,242 | +5.0% |
| Land and buildings | 22 | €698,636 | €664,134 | -€34,502 | -4.9% |
| Plant, machinery and equipment | 23 | €69,175 | €85,012 | +€15,837 | +22.9% |
| Furniture and vehicles | 24 | €94,921 | €156,827 | +€61,906 | +65.2% |
| Current assets | 29/58 | €1,740,004 | €1,654,251 | -€85,753 | -4.9% |
| Amounts receivable after more than one year | 29 | €192,000 | - | -€192,000 | |
| Other amounts receivable | 291 | €192,000 | - | -€192,000 | |
| Stocks and contracts in progress | 3 | €205,986 | €253,145 | +€47,159 | +22.9% |
| Stocks | 30/36 | €205,986 | €253,145 | +€47,159 | +22.9% |
| Amounts receivable within one year | 40/41 | €349,983 | €161,205 | -€188,778 | -53.9% |
| Trade receivables | 40 | €195,087 | €161,205 | -€33,882 | -17.4% |
| Other amounts receivable | 41 | €154,896 | - | -€154,896 | |
| Current investments | 50/53 | €125,000 | - | -€125,000 | |
| Cash at bank and in hand | 54/58 | €854,052 | €1,228,016 | +€373,965 | +43.8% |
| Deferred charges and accrued income | 490/1 | €12,983 | €11,884 | -€1,099 | -8.5% |
| Total equity and liabilities | 10/49 | €2,606,128 | €2,562,459 | -€43,669 | -1.7% |
| Equity | 10/15 | €2,044,997 | €1,918,310 | -€126,686 | -6.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,992,800 | €1,885,800 | -€107,000 | -5.4% |
| Distributable reserves | 133 | €1,992,800 | €1,885,800 | -€107,000 | -5.4% |
| Profit (loss) carried forward | 14 | €32,197 | €12,510 | -€19,686 | -61.1% |
| Amounts payable | 17/49 | €561,131 | €644,149 | +€83,017 | +14.8% |
| Amounts payable after more than one year | 17 | €253,694 | €184,893 | -€68,801 | -27.1% |
| Financial debts | 170/4 | €253,694 | €184,893 | -€68,801 | -27.1% |
| Amounts payable within one year | 42/48 | €307,437 | €459,256 | +€151,819 | +49.4% |
| Current portion of amounts payable after more than one year | 42 | €66,457 | €68,801 | +€2,344 | +3.5% |
| Financial debts | 43 | - | €10,506 | +€10,506 | |
| Credit institutions | 430/8 | - | €10,506 | +€10,506 | |
| Trade debts | 44 | €95,818 | €78,087 | -€17,731 | -18.5% |
| Suppliers | 440/4 | €95,818 | €78,087 | -€17,731 | -18.5% |
| Taxes, remuneration and social security | 45 | €125,161 | €135,113 | +€9,952 | +8.0% |
| Taxes | 450/3 | €80,667 | €112,726 | +€32,059 | +39.7% |
| Remuneration and social security | 454/9 | €44,494 | €22,387 | -€22,107 | -49.7% |
| Other amounts payable | 47/48 | €20,000 | €166,748 | +€146,748 | +734% |
| Non-recurring operating income | 76A | €5,000 | - | -€5,000 | |
| Remuneration, social security and pensions | 62 | €289,712 | €232,603 | -€57,110 | -19.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,843 | €103,046 | +€7,203 | +7.5% |
| Other operating charges | 640/8 | €5,797 | €6,603 | +€807 | +13.9% |
| Non-recurring operating charges | 66A | €16,233 | €7,361 | -€8,872 | -54.7% |
| Gross operating margin | 9900 | €825,958 | €998,906 | +€172,948 | +20.9% |
| Operating profit (loss) | 9901 | €418,372 | €649,292 | +€230,920 | +55.2% |
| Financial income | 75/76B | €30,603 | €15,202 | -€15,401 | -50.3% |
| Recurring financial income | 75 | €30,603 | €15,202 | -€15,401 | -50.3% |
| Financial charges | 65/66B | €19,525 | €11,724 | -€7,802 | -40.0% |
| Recurring financial charges | 65 | €19,525 | €11,724 | -€7,802 | -40.0% |
| Profit (loss) for the period before taxes | 9903 | €429,450 | €652,770 | +€223,320 | +52.0% |
| Income taxes | 67/77 | €131,936 | €202,457 | +€70,521 | +53.5% |
| Profit (loss) for the period | 9904 | €297,514 | €450,314 | +€152,799 | +51.4% |
| Profit (loss) for the period to be appropriated | 9905 | €297,514 | €450,314 | +€152,799 | +51.4% |
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 16 October 2026 via checked.be.