DESelect: what changed
DESelect
Largest movements
- Financial fixed assets -€321,247
down €321,247 (-16.2%), from €2.0m to €1.7m
- Receivables within one year -€199,749
down €199,749 (-24.7%), from €807,984 to €608,235
of which Trade receivables: -€433,542
- Cash +€55,919
up €55,919 (+204%), from €27,469 to €83,388
mainly Contributions, distributions and other (+€554,288) and Other debts (+€399,227)
- Tangible fixed assets -€41,697
down €41,697 (-98.2%), from €42,471 to €774
of which Other tangible fixed assets: -€40,513
- Debts after one year -€1.1m
down €1.1m (-100%), from €1.1m to €0
- Contributions +€554,288
up €554,288 (+11.2%), from €5.0m to €5.5m
- Other debts +€399,227
new in 2026: €399,227
- Accrued charges and deferred income -€342,249
down €342,249 (-26.2%), from €1.3m to €964,194
- Profit (loss) carried forward -€63,102
down €63,102 (-1.8%), from -€3.6m to -€3.6m
- Staff costs -€631,104
down €631,104 (-89.9%), from €701,975 to €70,870
- Gross operating margin -€571,898
down €571,898 (-60.7%), from €941,779 to €369,881
- Other operating charges -€254,826
down €254,826 (-88.4%), from €288,231 to €33,405
- Financial income +€66,471
up €66,471 (+1,891%), from €3,516 to €69,986
- Depreciation +€63,392
up €63,392 (+21.2%), from €298,598 to €361,990
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,975,842 | €3,448,479 | -€527,363 | -13.3% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €3,072,464 | €2,723,948 | -€348,516 | -11.3% |
| Intangible fixed assets | 21 | €1,044,785 | €1,059,212 | +€14,428 | +1.4% |
| Tangible fixed assets | 22/27 | €42,471 | €774 | -€41,697 | -98.2% |
| Plant, machinery and equipment | 23 | €1,958 | €774 | -€1,184 | -60.5% |
| Other tangible fixed assets | 26 | €40,513 | €0 | -€40,513 | -100% |
| Financial fixed assets | 28 | €1,985,209 | €1,663,962 | -€321,247 | -16.2% |
| Current assets | 29/58 | €903,378 | €724,531 | -€178,847 | -19.8% |
| Amounts receivable within one year | 40/41 | €807,984 | €608,235 | -€199,749 | -24.7% |
| Trade receivables | 40 | €719,958 | €286,416 | -€433,542 | -60.2% |
| Other amounts receivable | 41 | €88,026 | €321,819 | +€233,793 | +266% |
| Cash at bank and in hand | 54/58 | €27,469 | €83,388 | +€55,919 | +204% |
| Deferred charges and accrued income | 490/1 | €67,924 | €32,907 | -€35,018 | -51.6% |
| Total equity and liabilities | 10/49 | €3,975,842 | €3,448,479 | -€527,363 | -13.3% |
| Equity | 10/15 | €1,396,066 | €1,887,252 | +€491,186 | +35.2% |
| Contributions | 10/11 | €4,959,804 | €5,514,091 | +€554,288 | +11.2% |
| Profit (loss) carried forward | 14 | -€3,563,738 | -€3,626,839 | -€63,102 | -1.8% |
| Amounts payable | 17/49 | €2,579,776 | €1,561,227 | -€1.0m | -39.5% |
| Amounts payable after more than one year | 17 | €1,062,167 | €0 | -€1.1m | -100% |
| Financial debts | 170/4 | €1,062,167 | €0 | -€1.1m | -100% |
| Amounts payable within one year | 42/48 | €211,167 | €597,033 | +€385,867 | +183% |
| Financial debts | 43 | - | €7,637 | +€7,637 | |
| Credit institutions | 430/8 | - | €7,637 | +€7,637 | |
| Trade debts | 44 | €184,896 | €190,169 | +€5,273 | +2.9% |
| Suppliers | 440/4 | €184,896 | €190,169 | +€5,273 | +2.9% |
| Taxes, remuneration and social security | 45 | €26,270 | €0 | -€26,270 | -100% |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €26,270 | €0 | -€26,270 | -100% |
| Other amounts payable | 47/48 | - | €399,227 | +€399,227 | |
| Accrued charges and deferred income | 492/3 | €1,306,443 | €964,194 | -€342,249 | -26.2% |
| Non-recurring operating income | 76A | €3,817 | €0 | -€3,817 | -100% |
| Remuneration, social security and pensions | 62 | €701,975 | €70,870 | -€631,104 | -89.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €298,598 | €361,990 | +€63,392 | +21.2% |
| Other operating charges | 640/8 | €288,231 | €33,405 | -€254,826 | -88.4% |
| Non-recurring operating charges | 66A | €3,207 | €34,934 | +€31,727 | +989% |
| Gross operating margin | 9900 | €941,779 | €369,881 | -€571,898 | -60.7% |
| Operating profit (loss) | 9901 | -€350,232 | -€131,318 | +€218,914 | +62.5% |
| Financial income | 75/76B | €3,516 | €69,986 | +€66,471 | +1,891% |
| Recurring financial income | 75 | €3,516 | €69,986 | +€66,471 | +1,891% |
| Financial charges | 65/66B | €9,993 | €13,543 | +€3,550 | +35.5% |
| Recurring financial charges | 65 | €9,993 | €13,543 | +€3,550 | +35.5% |
| Profit (loss) for the period before taxes | 9903 | -€356,709 | -€74,875 | +€281,834 | +79.0% |
| Income taxes | 67/77 | -€24,235 | -€11,773 | +€12,462 | +51.4% |
| Profit (loss) for the period | 9904 | -€332,474 | -€63,102 | +€269,372 | +81.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€332,474 | -€63,102 | +€269,372 | +81.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.