DESCO: 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.
DESCO
Largest movements
- Current investments +€2.2m
up €2.2m (+111%), from €2.0m to €4.2m
- Cash -€1.4m
down €1.4m (-73.6%), from €1.9m to €506,493
mainly Current investments (-€2.2m) and Receivables within one year (-€323,666)
- Receivables within one year +€323,666
up €323,666 (+1,856%), from €17,437 to €341,103
of which Other amounts receivable: +€202,815
- Stocks and contracts -€185,000
down €185,000 (-100%), from €185,000 to €0
- Reserves +€771,640
up €771,640 (+17.9%), from €4.3m to €5.1m
- Short-term financial debts +€113,032
up €113,032, from €0 to €113,032
- Gross operating margin -€803,037
down €803,037 (-38.6%), from €2.1m to €1.3m
- Taxes -€222,739
down €222,739 (-34.8%), from €639,451 to €416,712
- Financial income +€150,520
up €150,520 (+124%), from €121,037 to €271,556
- Depreciation +€25,783
up €25,783 (+81.0%), from €31,838 to €57,621
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 | €4,411,093 | €5,362,094 | +€951,001 | +21.6% |
| Fixed assets | 21/28 | €254,110 | €260,806 | +€6,697 | +2.6% |
| Tangible fixed assets | 22/27 | €254,110 | €260,806 | +€6,697 | +2.6% |
| Land and buildings | 22 | €57,032 | €56,984 | -€48 | -0.1% |
| Plant, machinery and equipment | 23 | €372 | €0 | -€372 | -100% |
| Furniture and vehicles | 24 | €4,451 | €17,761 | +€13,310 | +299% |
| Other tangible fixed assets | 26 | €192,255 | €186,062 | -€6,193 | -3.2% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €4,156,983 | €5,101,288 | +€944,305 | +22.7% |
| Stocks and contracts in progress | 3 | €185,000 | €0 | -€185,000 | -100% |
| Stocks | 30/36 | €185,000 | €0 | -€185,000 | -100% |
| Amounts receivable within one year | 40/41 | €17,437 | €341,103 | +€323,666 | +1,856% |
| Trade receivables | 40 | €13,673 | €134,524 | +€120,851 | +884% |
| Other amounts receivable | 41 | €3,764 | €206,579 | +€202,815 | +5,388% |
| Current investments | 50/53 | €2,016,202 | €4,245,820 | +€2.2m | +111% |
| Cash at bank and in hand | 54/58 | €1,921,878 | €506,493 | -€1.4m | -73.6% |
| Deferred charges and accrued income | 490/1 | €16,466 | €7,871 | -€8,594 | -52.2% |
| Total equity and liabilities | 10/49 | €4,411,093 | €5,362,094 | +€951,001 | +21.6% |
| Equity | 10/15 | €4,312,186 | €5,083,826 | +€771,640 | +17.9% |
| Contributions | 10/11 | €0 | - | = | |
| Reserves | 13 | €4,312,186 | €5,083,826 | +€771,640 | +17.9% |
| Distributable reserves | 133 | €4,312,186 | €5,083,826 | +€771,640 | +17.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €98,908 | €278,269 | +€179,361 | +181% |
| Amounts payable after more than one year | 17 | €807 | €0 | -€807 | -100% |
| Financial debts | 170/4 | €807 | €0 | -€807 | -100% |
| Amounts payable within one year | 42/48 | €97,939 | €269,686 | +€171,746 | +175% |
| Current portion of amounts payable after more than one year | 42 | €3,208 | €807 | -€2,401 | -74.9% |
| Financial debts | 43 | €0 | €113,032 | +€113,032 | |
| Credit institutions | 430/8 | €0 | €113,032 | +€113,032 | |
| Trade debts | 44 | €28,430 | €59,455 | +€31,025 | +109% |
| Suppliers | 440/4 | €28,430 | €59,455 | +€31,025 | +109% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €55,253 | €95,798 | +€40,546 | +73.4% |
| Taxes | 450/3 | €55,253 | €95,798 | +€40,546 | +73.4% |
| Other amounts payable | 47/48 | €11,049 | €593 | -€10,455 | -94.6% |
| Accrued charges and deferred income | 492/3 | €162 | €8,583 | +€8,422 | +5,215% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,838 | €57,621 | +€25,783 | +81.0% |
| Other operating charges | 640/8 | €11,767 | €5,541 | -€6,227 | -52.9% |
| Non-recurring operating charges | 66A | - | €798 | +€798 | |
| Gross operating margin | 9900 | €2,078,162 | €1,275,125 | -€803,037 | -38.6% |
| Operating profit (loss) | 9901 | €2,034,557 | €1,211,166 | -€823,391 | -40.5% |
| Financial income | 75/76B | €121,037 | €271,556 | +€150,520 | +124% |
| Recurring financial income | 75 | €121,037 | €271,556 | +€150,520 | +124% |
| Financial charges | 65/66B | €103,426 | €101,540 | -€1,886 | -1.8% |
| Recurring financial charges | 65 | €103,426 | €101,540 | -€1,886 | -1.8% |
| Profit (loss) for the period before taxes | 9903 | €2,052,167 | €1,381,182 | -€670,985 | -32.7% |
| Income taxes | 67/77 | €639,451 | €416,712 | -€222,739 | -34.8% |
| Profit (loss) for the period | 9904 | €1,412,716 | €964,470 | -€448,246 | -31.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,412,716 | €964,470 | -€448,246 | -31.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.