Desco: 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.
What changed
Desco
NACE 46.831, Wholesale of construction materials, general range
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€41.2m
2024 · €45.6m-€4.5m
Equity
€462.6m
2024 · €421.5m+€41.1m
Cash
€59.5m
2024 · €113.5m-€54.0m
Balance sheet total
€497.0m
2024 · €458.3m+€38.7m
Largest movements
Assets
- Current investments +€82.3m
up €82.3m (+47.1%), from €174.7m to €256.9m
- Cash -€54.0m
down €54.0m (-47.6%), from €113.5m to €59.5m
mainly Current investments (-€82.3m) and Deferred charges and accrued income (-€11.7m)
- Deferred charges and accrued income +€11.7m
up €11.7m (+570.0%), from €2.0m to €13.7m
- Receivables after one year -€5.0m
down €5.0m (-9.1%), from €55.0m to €50.0m
Equity and liabilities
- Reserves +€41.2m
up €41.2m (+9.8%), from €418.1m to €459.2m
of which Distributable reserves: +€41.2m
Income statement
- Turnover +€8.3m
up €8.3m (+2.3%), from €362.4m to €370.7m
- Goods and materials +€6.6m
up €6.6m (+2.7%), from €244.5m to €251.1m
of which Purchases: +€5.9m
- Services and other goods +€5.8m
up €5.8m (+15.7%), from €36.9m to €42.7m
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.
Result 2024
€45.6m
Turnover
+€8.3m
Other operating income
+€591,747
Goods and materials
-€6.6m
Services and other goods
-€5.8m
Staff costs
-€1.2m
Depreciation
-€803,196
Write-downs
-€205,493
Provisions
-€44,544
Other operating charges
-€317,397
Other operating items
+€712
Financial income
-€1.2m
Financial charges
-€264,494
Taxes
+€3.0m
Result 2025
€41.2m
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.
From operations
+€34.7m
Investment
-€88.6m
Financing
-€121,666
Cash 2024
€113.5m
From operations (derived)
+€34.7m
Net result for the year
+€41.2m
Depreciation
+€3.3m
Receivables after one year
+€5.0m
Stocks and contracts
-€674,684
Smaller working-capital items
-€64,412
Deferred charges and accrued income
-€11.7m
Trade debts
-€2.8m
Advances received
+€459,087
Investment (derived)
-€88.6m
Investment in fixed assets (net)
-€6.4m
Current investments
-€82.3m
Financing
-€121,666
Debts after one year
-€88,921
Current portion of long-term debt
+€2,536
Contributions, distributions and other
-€35,282
Cash 2025
€59.5m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €458,274,474 | €497,001,584 | +€38.7m | +8.5% |
| Fixed assets | 21/28 | €8,516,041 | €11,548,739 | +€3.0m | +35.6% |
| Tangible fixed assets | 22/27 | €8,458,121 | €11,490,534 | +€3.0m | +35.9% |
| Land and buildings | 22 | €1,077,973 | €1,154,009 | +€76,036 | +7.1% |
| Plant, machinery and equipment | 23 | €5,591,878 | €8,286,246 | +€2.7m | +48.2% |
| Furniture and vehicles | 24 | €1,505,008 | €1,841,092 | +€336,084 | +22.3% |
| Leasing and similar rights | 25 | €283,262 | €209,188 | -€74,074 | -26.2% |
| Financial fixed assets | 28 | €57,920 | €58,205 | +€285 | +0.5% |
| Other financial fixed assets | 284/8 | €57,920 | €58,205 | +€285 | +0.5% |
| Amounts receivable and cash guarantees | 285/8 | €57,920 | €58,205 | +€285 | +0.5% |
| Current assets | 29/58 | €449,758,433 | €485,452,845 | +€35.7m | +7.9% |
| Amounts receivable after more than one year | 29 | €55,000,000 | €50,000,000 | -€5.0m | -9.1% |
| Other amounts receivable | 291 | €55,000,000 | €50,000,000 | -€5.0m | -9.1% |
| Stocks and contracts in progress | 3 | €41,467,045 | €42,141,729 | +€674,684 | +1.6% |
| Stocks | 30/36 | €41,467,045 | €42,141,729 | +€674,684 | +1.6% |
| Goods purchased for resale | 34 | €41,467,045 | €42,141,729 | +€674,684 | +1.6% |
| Amounts receivable within one year | 40/41 | €63,052,212 | €63,163,092 | +€110,880 | +0.2% |
| Trade receivables | 40 | €56,131,477 | €55,219,022 | -€912,455 | -1.6% |
| Other amounts receivable | 41 | €6,920,735 | €7,944,070 | +€1.0m | +14.8% |
| Current investments | 50/53 | €174,652,560 | €256,904,265 | +€82.3m | +47.1% |
| Other investments | 51/53 | €174,652,560 | €256,904,265 | +€82.3m | +47.1% |
| Cash at bank and in hand | 54/58 | €113,542,016 | €59,544,897 | -€54.0m | -47.6% |
| Deferred charges and accrued income | 490/1 | €2,044,600 | €13,698,862 | +€11.7m | +570.0% |
| Total equity and liabilities | 10/49 | €458,274,474 | €497,001,584 | +€38.7m | +8.5% |
| Equity | 10/15 | €421,461,216 | €462,582,161 | +€41.1m | +9.8% |
| Contributions | 10/11 | €3,204,359 | €3,204,359 | = | 0.0% |
| Capital | 10 | €3,130,570 | €3,130,570 | = | 0.0% |
| Issued capital | 100 | €3,130,570 | €3,130,570 | = | 0.0% |
| Outside capital | 11 | €73,788 | €73,788 | = | 0.0% |
| Share premium | 1100/10 | €73,788 | €73,788 | = | 0.0% |
| Reserves | 13 | €418,091,296 | €459,247,523 | +€41.2m | +9.8% |
| Non-distributable reserves | 130/1 | €4,968,794 | €4,968,794 | = | 0.0% |
| Legal reserve | 130 | €313,057 | €313,057 | = | 0.0% |
| Other | 1319 | €4,655,737 | €4,655,737 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,242,912 | €1,229,967 | -€12,945 | -1.0% |
| Distributable reserves | 133 | €411,879,590 | €453,048,762 | +€41.2m | +10.0% |
| Investment grants | 15 | €165,561 | €130,279 | -€35,282 | -21.3% |
| Provisions and deferred taxes | 16 | €1,866,639 | €1,903,145 | +€36,506 | +2.0% |
| Provisions for liabilities and charges | 160/5 | €1,839,970 | €1,883,142 | +€43,172 | +2.3% |
| Other liabilities and charges | 164/5 | €1,839,970 | €1,883,142 | +€43,172 | +2.3% |
| Deferred taxes | 168 | €26,668 | €20,003 | -€6,666 | -25.0% |
| Amounts payable | 17/49 | €34,946,620 | €32,516,278 | -€2.4m | -7.0% |
| Amounts payable after more than one year | 17 | €144,039 | €55,118 | -€88,921 | -61.7% |
| Financial debts | 170/4 | €144,039 | €55,118 | -€88,921 | -61.7% |
| Leasing and similar obligations | 172 | €144,039 | €55,118 | -€88,921 | -61.7% |
| Amounts payable within one year | 42/48 | €34,275,343 | €31,825,641 | -€2.4m | -7.1% |
| Current portion of amounts payable after more than one year | 42 | €87,046 | €89,582 | +€2,536 | +2.9% |
| Trade debts | 44 | €20,861,240 | €18,048,234 | -€2.8m | -13.5% |
| Suppliers | 440/4 | €20,861,240 | €18,048,234 | -€2.8m | -13.5% |
| Advances received on contracts in progress | 46 | €5,403,994 | €5,863,081 | +€459,087 | +8.5% |
| Taxes, remuneration and social security | 45 | €7,923,063 | €7,824,743 | -€98,320 | -1.2% |
| Taxes | 450/3 | €3,182,662 | €3,268,692 | +€86,031 | +2.7% |
| Remuneration and social security | 454/9 | €4,740,402 | €4,556,051 | -€184,351 | -3.9% |
| Accrued charges and deferred income | 492/3 | €527,238 | €635,520 | +€108,282 | +20.5% |
| Operating income | 70/76A | €364,114,265 | €373,000,006 | +€8.9m | +2.4% |
| Turnover | 70 | €362,374,732 | €370,684,095 | +€8.3m | +2.3% |
| Other operating income | 74 | €1,671,896 | €2,263,643 | +€591,747 | +35.4% |
| Non-recurring operating income | 76A | €67,637 | €52,268 | -€15,368 | -22.7% |
| Operating charges | 60/66A | €317,788,720 | €332,699,078 | +€14.9m | +4.7% |
| Goods for resale, raw materials and consumables | 60 | €244,517,406 | €251,131,747 | +€6.6m | +2.7% |
| Purchases | 600/8 | €245,885,153 | €251,806,431 | +€5.9m | +2.4% |
| Change in stocks: decrease (increase) | 609 | -€1,367,748 | -€674,684 | +€693,063 | +50.7% |
| Services and other goods | 61 | €36,948,755 | €42,738,100 | +€5.8m | +15.7% |
| Remuneration, social security and pensions | 62 | €32,843,873 | €33,995,995 | +€1.2m | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,527,875 | €3,331,071 | +€803,196 | +31.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€464,386 | -€258,893 | +€205,493 | +44.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€1,372 | €43,172 | +€44,544 | |
| Other operating charges | 640/8 | €1,400,489 | €1,717,886 | +€317,397 | +22.7% |
| Non-recurring operating charges | 66A | €16,080 | - | -€16,080 | |
| Operating profit (loss) | 9901 | €46,325,544 | €40,300,928 | -€6.0m | -13.0% |
| Financial income | 75/76B | €16,821,261 | €15,658,688 | -€1.2m | -6.9% |
| Recurring financial income | 75 | €16,821,261 | €15,658,688 | -€1.2m | -6.9% |
| Income from current assets | 751 | €8,352,299 | €7,387,025 | -€965,274 | -11.6% |
| Other financial income | 752/9 | €8,468,962 | €8,271,663 | -€197,299 | -2.3% |
| Financial charges | 65/66B | €1,534,517 | €1,799,012 | +€264,494 | +17.2% |
| Recurring financial charges | 65 | €1,534,517 | €1,799,012 | +€264,494 | +17.2% |
| Debt charges | 650 | €18,833 | €12,681 | -€6,153 | -32.7% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€380 | -€1,424 | -€1,044 | -274.7% |
| Other financial charges | 652/9 | €1,516,064 | €1,787,755 | +€271,691 | +17.9% |
| Profit (loss) for the period before taxes | 9903 | €61,612,288 | €54,160,604 | -€7.5m | -12.1% |
| Transfer from deferred taxes | 780 | €6,666 | €6,666 | = | 0.0% |
| Income taxes | 67/77 | €15,976,112 | €13,011,042 | -€3.0m | -18.6% |
| Taxes | 670/3 | €15,976,112 | €13,435,193 | -€2.5m | -15.9% |
| Tax adjustments and reversals of tax provisions | 77 | - | €424,151 | +€424,151 | |
| Profit (loss) for the period | 9904 | €45,642,843 | €41,156,228 | -€4.5m | -9.8% |
| Transfer from tax-exempt reserves | 789 | €1,696,945 | €12,945 | -€1.7m | -99.2% |
| Transfer to tax-exempt reserves | 689 | €1,000,000 | - | -€1,000,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €46,339,788 | €41,169,173 | -€5.2m | -11.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.