DESERANNO: 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.
DESERANNO
Largest movements
- Tangible fixed assets +€4.1m
up €4.1m (+110.3%), from €3.7m to €7.8m
of which Land and buildings: +€4.1m
- Current investments +€2.2m
up €2.2m (+72.4%), from €3.0m to €5.2m
- Receivables after one year -€372,917
down €372,917 (-76.5%), from €487,500 to €114,583
- Financial fixed assets -€372,000
down €372,000 (-16.7%), from €2.2m to €1.9m
- Cash -€325,518
down €325,518 (-39.5%), from €823,462 to €497,945
mainly Investment in fixed assets (net) (-€3.7m) and Current investments (-€2.2m)
- Reserves +€3.3m
up €3.3m (+46.8%), from €7.1m to €10.4m
of which Distributable reserves: +€3.3m
- Debts after one year +€2.0m
new in 2025: €2.0m
- Financial income +€2.0m
up €2.0m (+113.9%), from €1.8m to €3.8m
- Financial charges -€152,759
down €152,759 (-48.2%), from €316,607 to €163,848
- Other operating charges +€148,462
up €148,462 (+265.7%), from €55,885 to €204,347
- Gross operating margin +€84,709
up €84,709 (+63.1%), from -€134,306 to -€49,596
- Taxes +€5,418
up €5,418 (+552.3%), from €981 to €6,399
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,845,328 | €16,102,557 | +€5.3m | +48.5% |
| Fixed assets | 21/28 | €5,930,825 | €9,647,158 | +€3.7m | +62.7% |
| Tangible fixed assets | 22/27 | €3,706,805 | €7,795,138 | +€4.1m | +110.3% |
| Land and buildings | 22 | €3,696,852 | €7,755,307 | +€4.1m | +109.8% |
| Plant, machinery and equipment | 23 | - | €6,688 | +€6,688 | |
| Furniture and vehicles | 24 | €9,952 | €33,144 | +€23,191 | +233.0% |
| Financial fixed assets | 28 | €2,224,020 | €1,852,020 | -€372,000 | -16.7% |
| Current assets | 29/58 | €4,914,503 | €6,455,399 | +€1.5m | +31.4% |
| Amounts receivable after more than one year | 29 | €487,500 | €114,583 | -€372,917 | -76.5% |
| Other amounts receivable | 291 | €487,500 | €114,583 | -€372,917 | -76.5% |
| Amounts receivable within one year | 40/41 | €600,279 | €670,076 | +€69,797 | +11.6% |
| Trade receivables | 40 | €106,650 | €115,921 | +€9,271 | +8.7% |
| Other amounts receivable | 41 | €493,629 | €554,155 | +€60,526 | +12.3% |
| Current investments | 50/53 | €2,995,439 | €5,163,867 | +€2.2m | +72.4% |
| Cash at bank and in hand | 54/58 | €823,462 | €497,945 | -€325,518 | -39.5% |
| Deferred charges and accrued income | 490/1 | €7,823 | €8,928 | +€1,106 | +14.1% |
| Total equity and liabilities | 10/49 | €10,845,328 | €16,102,557 | +€5.3m | +48.5% |
| Equity | 10/15 | €8,410,002 | €11,729,542 | +€3.3m | +39.5% |
| Contributions | 10/11 | €1,312,928 | €1,312,928 | = | 0.0% |
| Capital | 10 | €1,312,928 | €1,312,928 | = | 0.0% |
| Issued capital | 100 | €1,312,928 | €1,312,928 | = | 0.0% |
| Reserves | 13 | €7,097,074 | €10,416,615 | +€3.3m | +46.8% |
| Non-distributable reserves | 130/1 | €185,379 | €185,379 | = | 0.0% |
| Legal reserve | 130 | €185,379 | €185,379 | = | 0.0% |
| Distributable reserves | 133 | €6,911,695 | €10,231,235 | +€3.3m | +48.0% |
| Amounts payable | 17/49 | €2,435,326 | €4,373,015 | +€1.9m | +79.6% |
| Amounts payable after more than one year | 17 | - | €2,000,000 | +€2.0m | |
| Financial debts | 170/4 | - | €2,000,000 | +€2.0m | |
| Amounts payable within one year | 42/48 | €2,432,806 | €2,373,015 | -€59,791 | -2.5% |
| Trade debts | 44 | €3,665 | €11,064 | +€7,399 | +201.9% |
| Suppliers | 440/4 | €3,665 | €11,064 | +€7,399 | +201.9% |
| Taxes, remuneration and social security | 45 | €101,566 | €94,183 | -€7,384 | -7.3% |
| Taxes | 450/3 | €94,764 | €87,257 | -€7,507 | -7.9% |
| Remuneration and social security | 454/9 | €6,802 | €6,926 | +€123 | +1.8% |
| Other amounts payable | 47/48 | €2,327,575 | €2,267,769 | -€59,807 | -2.6% |
| Accrued charges and deferred income | 492/3 | €2,520 | €0 | -€2,520 | -100.0% |
| Remuneration, social security and pensions | 62 | €28,747 | €25,794 | -€2,953 | -10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,794 | €30,187 | +€393 | +1.3% |
| Other operating charges | 640/8 | €55,885 | €204,347 | +€148,462 | +265.7% |
| Gross operating margin | 9900 | -€134,306 | -€49,596 | +€84,709 | +63.1% |
| Operating profit (loss) | 9901 | -€248,732 | -€309,924 | -€61,193 | -24.6% |
| Financial income | 75/76B | €1,776,214 | €3,799,711 | +€2.0m | +113.9% |
| Recurring financial income | 75 | €1,776,214 | €3,799,711 | +€2.0m | +113.9% |
| Financial charges | 65/66B | €316,607 | €163,848 | -€152,759 | -48.2% |
| Recurring financial charges | 65 | €316,607 | €163,848 | -€152,759 | -48.2% |
| Profit (loss) for the period before taxes | 9903 | €1,210,876 | €3,325,939 | +€2.1m | +174.7% |
| Income taxes | 67/77 | €981 | €6,399 | +€5,418 | +552.3% |
| Profit (loss) for the period | 9904 | €1,209,895 | €3,319,540 | +€2.1m | +174.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,209,895 | €3,319,540 | +€2.1m | +174.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.