Desca-Invest: 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.
Desca-Invest
Largest movements
- Receivables within one year +€429,064
up €429,064 (+36.4%), from €1.2m to €1.6m
of which Trade receivables: +€387,002
- Tangible fixed assets -€194,507
down €194,507 (-8.8%), from €2.2m to €2.0m
- Cash -€66,469
down €66,469 (-6.6%), from €1.0m to €942,019
mainly Receivables within one year (-€429,064) and Debts after one year (-€149,038)
- Reserves +€291,037
up €291,037 (+19.0%), from €1.5m to €1.8m
of which Distributable reserves: +€291,037
- Debts after one year -€149,038
down €149,038 (-8.3%), from €1.8m to €1.6m
of which Financial debts: -€149,038
- Gross operating margin -€115,979
down €115,979 (-14.0%), from €827,475 to €711,496
- Taxes -€27,889
down €27,889 (-21.1%), from €132,324 to €104,435
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 | €4,491,784 | €4,631,675 | +€139,892 | +3.1% |
| Fixed assets | 21/28 | €2,291,453 | €2,062,946 | -€228,507 | -10.0% |
| Intangible fixed assets | 21 | €79,282 | €45,282 | -€34,000 | -42.9% |
| Tangible fixed assets | 22/27 | €2,211,631 | €2,017,124 | -€194,507 | -8.8% |
| Land and buildings | 22 | €1,734,412 | €1,644,901 | -€89,512 | -5.2% |
| Plant, machinery and equipment | 23 | €154,442 | €116,858 | -€37,584 | -24.3% |
| Furniture and vehicles | 24 | €322,777 | €255,366 | -€67,411 | -20.9% |
| Financial fixed assets | 28 | €540 | €540 | = | 0.0% |
| Current assets | 29/58 | €2,200,331 | €2,568,729 | +€368,398 | +16.7% |
| Amounts receivable within one year | 40/41 | €1,180,092 | €1,609,156 | +€429,064 | +36.4% |
| Trade receivables | 40 | €987,735 | €1,374,737 | +€387,002 | +39.2% |
| Other amounts receivable | 41 | €192,357 | €234,419 | +€42,062 | +21.9% |
| Cash at bank and in hand | 54/58 | €1,008,488 | €942,019 | -€66,469 | -6.6% |
| Deferred charges and accrued income | 490/1 | €11,750 | €17,554 | +€5,804 | +49.4% |
| Total equity and liabilities | 10/49 | €4,491,784 | €4,631,675 | +€139,892 | +3.1% |
| Equity | 10/15 | €2,289,206 | €2,580,244 | +€291,037 | +12.7% |
| Contributions | 10/11 | €755,000 | €755,000 | = | 0.0% |
| Reserves | 13 | €1,534,206 | €1,825,244 | +€291,037 | +19.0% |
| Non-distributable reserves | 130/1 | €20,500 | €20,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €20,500 | €20,500 | = | 0.0% |
| Distributable reserves | 133 | €1,513,706 | €1,804,744 | +€291,037 | +19.2% |
| Amounts payable | 17/49 | €2,202,577 | €2,051,432 | -€151,145 | -6.9% |
| Amounts payable after more than one year | 17 | €1,788,999 | €1,639,960 | -€149,038 | -8.3% |
| Financial debts | 170/4 | €1,083,999 | €934,960 | -€149,038 | -13.7% |
| Other amounts payable | 178/9 | €705,000 | €705,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €403,328 | €401,888 | -€1,440 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €146,795 | €149,038 | +€2,244 | +1.5% |
| Trade debts | 44 | €1,166 | €0 | -€1,166 | -100% |
| Suppliers | 440/4 | €1,166 | €0 | -€1,166 | -100% |
| Taxes, remuneration and social security | 45 | €71,029 | €51,850 | -€19,180 | -27.0% |
| Taxes | 450/3 | €68,577 | €50,257 | -€18,320 | -26.7% |
| Remuneration and social security | 454/9 | €2,452 | €1,592 | -€859 | -35.1% |
| Other amounts payable | 47/48 | €184,338 | €201,000 | +€16,662 | +9.0% |
| Accrued charges and deferred income | 492/3 | €10,251 | €9,584 | -€667 | -6.5% |
| Non-recurring operating income | 76A | €18,648 | €0 | -€18,648 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €224,507 | €228,507 | +€3,999 | +1.8% |
| Other operating charges | 640/8 | €37,253 | €36,079 | -€1,174 | -3.2% |
| Gross operating margin | 9900 | €827,475 | €711,496 | -€115,979 | -14.0% |
| Operating profit (loss) | 9901 | €565,714 | €446,910 | -€118,805 | -21.0% |
| Financial income | 75/76B | €14,877 | €11,897 | -€2,979 | -20.0% |
| Recurring financial income | 75 | €14,877 | €11,897 | -€2,979 | -20.0% |
| Financial charges | 65/66B | €60,278 | €63,335 | +€3,057 | +5.1% |
| Recurring financial charges | 65 | €60,278 | €63,335 | +€3,057 | +5.1% |
| Profit (loss) for the period before taxes | 9903 | €520,313 | €395,472 | -€124,841 | -24.0% |
| Income taxes | 67/77 | €132,324 | €104,435 | -€27,889 | -21.1% |
| Profit (loss) for the period | 9904 | €387,989 | €291,037 | -€96,952 | -25.0% |
| Profit (loss) for the period to be appropriated | 9905 | €387,989 | €291,037 | -€96,952 | -25.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.