DESAFINADO: 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.
DESAFINADO
Largest movements
- Tangible fixed assets +€609,493
up €609,493 (+18.7%), from €3.3m to €3.9m
of which Land and buildings: +€610,455
- Debts after one year +€373,875
up €373,875 (+42.0%), from €890,042 to €1.3m
- Other debts +€308,832
up €308,832 (+17.0%), from €1.8m to €2.1m
- Current portion of long-term debt -€307,221
down €307,221 (-77.9%), from €394,457 to €87,236
- Reserves +€254,701
up €254,701 (+250%), from €101,987 to €356,688
- Profit (loss) carried forward -€123,383
no longer reported in 2025 (was €123,383)
- Gross operating margin +€47,137
up €47,137 (+93.4%), from €50,460 to €97,597
- Financial income -€42,999
down €42,999 (-17.8%), from €242,250 to €199,251
- Depreciation +€27,643
up €27,643 (+34.7%), from €79,606 to €107,249
- Financial charges -€9,480
down €9,480 (-15.0%), from €63,214 to €53,735
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 | €3,360,198 | €3,961,501 | +€601,303 | +17.9% |
| Fixed assets | 21/28 | €3,268,683 | €3,878,176 | +€609,493 | +18.6% |
| Tangible fixed assets | 22/27 | €3,251,343 | €3,860,836 | +€609,493 | +18.7% |
| Land and buildings | 22 | €3,250,381 | €3,860,836 | +€610,455 | +18.8% |
| Furniture and vehicles | 24 | €962 | - | -€962 | |
| Financial fixed assets | 28 | €17,340 | €17,340 | = | 0.0% |
| Current assets | 29/58 | €91,515 | €83,325 | -€8,190 | -8.9% |
| Current investments | 50/53 | €58 | €58 | -€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €90,931 | €82,144 | -€8,787 | -9.7% |
| Deferred charges and accrued income | 490/1 | €526 | €1,123 | +€597 | +113% |
| Total equity and liabilities | 10/49 | €3,360,198 | €3,961,501 | +€601,303 | +17.9% |
| Equity | 10/15 | €245,370 | €376,688 | +€131,318 | +53.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €101,987 | €356,688 | +€254,701 | +250% |
| Distributable reserves | 133 | €101,987 | €356,688 | +€254,701 | +250% |
| Profit (loss) carried forward | 14 | €123,383 | - | -€123,383 | |
| Amounts payable | 17/49 | €3,114,828 | €3,584,813 | +€469,985 | +15.1% |
| Amounts payable after more than one year | 17 | €890,042 | €1,263,918 | +€373,875 | +42.0% |
| Financial debts | 170/4 | €890,042 | €1,263,918 | +€373,875 | +42.0% |
| Amounts payable within one year | 42/48 | €2,224,786 | €2,320,895 | +€96,110 | +4.3% |
| Current portion of amounts payable after more than one year | 42 | €394,457 | €87,236 | -€307,221 | -77.9% |
| Trade debts | 44 | €16,459 | €110,958 | +€94,499 | +574% |
| Suppliers | 440/4 | €16,459 | €110,958 | +€94,499 | +574% |
| Other amounts payable | 47/48 | €1,813,870 | €2,122,701 | +€308,832 | +17.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,606 | €107,249 | +€27,643 | +34.7% |
| Other operating charges | 640/8 | €4,409 | €4,545 | +€136 | +3.1% |
| Gross operating margin | 9900 | €50,460 | €97,597 | +€47,137 | +93.4% |
| Operating profit (loss) | 9901 | -€33,555 | -€14,198 | +€19,357 | +57.7% |
| Financial income | 75/76B | €242,250 | €199,251 | -€42,999 | -17.8% |
| Recurring financial income | 75 | €242,250 | €199,251 | -€42,999 | -17.8% |
| Financial charges | 65/66B | €63,214 | €53,735 | -€9,480 | -15.0% |
| Recurring financial charges | 65 | €63,214 | €53,735 | -€9,480 | -15.0% |
| Profit (loss) for the period before taxes | 9903 | €145,481 | €131,318 | -€14,163 | -9.7% |
| Profit (loss) for the period | 9904 | €145,481 | €131,318 | -€14,163 | -9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €145,481 | €131,318 | -€14,163 | -9.7% |
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 27 October 2026 via checked.be.