Desen International: 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.
Desen International
Largest movements
- Receivables within one year +€52,558
up €52,558 (+81.4%), from €64,585 to €117,143
of which Other amounts receivable: +€27,821
- Stocks and contracts +€49,356
up €49,356 (+45.5%), from €108,446 to €157,802
- Cash +€41,617
up €41,617 (+161%), from €25,782 to €67,399
mainly Net result for the year (+€117,768) and Tax, wage and social debts (+€30,756)
- Financial fixed assets -€15,598
down €15,598 (-55.7%), from €28,000 to €12,402
- Deferred charges and accrued income +€3,795
new in 2025: €3,795
- Reserves +€117,768
up €117,768 (+60,425%), from €195 to €117,963
- Trade debts -€32,234
down €32,234 (-33.2%), from €97,073 to €64,839
- Tax, wage and social debts +€30,756
up €30,756 (+57.6%), from €53,377 to €84,133
of which Taxes: +€32,434
- Short-term financial debts +€12,007
up €12,007 (+377%), from €3,185 to €15,192
- Other debts +€4,575
up €4,575 (+79.0%), from €5,794 to €10,369
- Gross operating margin +€135,702
up €135,702 (+79.4%), from €171,006 to €306,708
- Taxes +€34,353
up €34,353 (+277%), from €12,410 to €46,763
- Other operating charges +€3,595
up €3,595 (+314%), from €1,146 to €4,741
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 | €240,455 | €373,326 | +€132,871 | +55.3% |
| Fixed assets | 21/28 | €41,641 | €27,187 | -€14,454 | -34.7% |
| Intangible fixed assets | 21 | €17 | - | -€17 | |
| Tangible fixed assets | 22/27 | €13,624 | €14,785 | +€1,161 | +8.5% |
| Plant, machinery and equipment | 23 | €11,863 | €10,884 | -€979 | -8.3% |
| Furniture and vehicles | 24 | €1,761 | €3,902 | +€2,141 | +122% |
| Financial fixed assets | 28 | €28,000 | €12,402 | -€15,598 | -55.7% |
| Current assets | 29/58 | €198,814 | €346,139 | +€147,325 | +74.1% |
| Stocks and contracts in progress | 3 | €108,446 | €157,802 | +€49,356 | +45.5% |
| Stocks | 30/36 | €108,446 | €157,802 | +€49,356 | +45.5% |
| Amounts receivable within one year | 40/41 | €64,585 | €117,143 | +€52,558 | +81.4% |
| Trade receivables | 40 | €42,873 | €67,610 | +€24,737 | +57.7% |
| Other amounts receivable | 41 | €21,712 | €49,533 | +€27,821 | +128% |
| Cash at bank and in hand | 54/58 | €25,782 | €67,399 | +€41,617 | +161% |
| Deferred charges and accrued income | 490/1 | - | €3,795 | +€3,795 | |
| Total equity and liabilities | 10/49 | €240,455 | €373,326 | +€132,871 | +55.3% |
| Equity | 10/15 | €37,345 | €155,113 | +€117,768 | +315% |
| Contributions | 10/11 | €37,150 | €37,150 | = | 0.0% |
| Reserves | 13 | €195 | €117,963 | +€117,768 | +60,425% |
| Distributable reserves | 133 | €195 | €117,963 | +€117,768 | +60,425% |
| Amounts payable | 17/49 | €203,110 | €218,213 | +€15,103 | +7.4% |
| Amounts payable after more than one year | 17 | €43,680 | €43,680 | = | 0.0% |
| Financial debts | 170/4 | €15,000 | €15,000 | = | 0.0% |
| Other amounts payable | 178/9 | €28,680 | €28,680 | = | 0.0% |
| Amounts payable within one year | 42/48 | €159,429 | €174,533 | +€15,103 | +9.5% |
| Financial debts | 43 | €3,185 | €15,192 | +€12,007 | +377% |
| Credit institutions | 430/8 | €3,185 | €15,192 | +€12,007 | +377% |
| Trade debts | 44 | €97,073 | €64,839 | -€32,234 | -33.2% |
| Suppliers | 440/4 | €97,073 | €64,839 | -€32,234 | -33.2% |
| Taxes, remuneration and social security | 45 | €53,377 | €84,133 | +€30,756 | +57.6% |
| Taxes | 450/3 | €24,812 | €57,246 | +€32,434 | +131% |
| Remuneration and social security | 454/9 | €28,565 | €26,887 | -€1,678 | -5.9% |
| Other amounts payable | 47/48 | €5,794 | €10,369 | +€4,575 | +79.0% |
| Non-recurring operating income | 76A | - | €1,200 | +€1,200 | |
| Remuneration, social security and pensions | 62 | €126,869 | €129,588 | +€2,719 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,779 | €4,654 | +€875 | +23.2% |
| Other operating charges | 640/8 | €1,146 | €4,741 | +€3,595 | +314% |
| Gross operating margin | 9900 | €171,006 | €306,708 | +€135,702 | +79.4% |
| Operating profit (loss) | 9901 | €39,213 | €167,725 | +€128,513 | +328% |
| Financial income | 75/76B | €5 | €105 | +€100 | +2,006% |
| Recurring financial income | 75 | €5 | €105 | +€100 | +2,006% |
| Financial charges | 65/66B | €798 | €3,300 | +€2,501 | +313% |
| Recurring financial charges | 65 | €798 | €3,300 | +€2,501 | +313% |
| Profit (loss) for the period before taxes | 9903 | €38,419 | €164,531 | +€126,111 | +328% |
| Income taxes | 67/77 | €12,410 | €46,763 | +€34,353 | +277% |
| Profit (loss) for the period | 9904 | €26,009 | €117,768 | +€91,758 | +353% |
| Profit (loss) for the period to be appropriated | 9905 | €26,009 | €117,768 | +€91,758 | +353% |
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 30 October 2026 via checked.be.