DESFICO: 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.
DESFICO
Largest movements
- Deferred charges and accrued income -€81,124
down €81,124 (-97.5%), from €83,189 to €2,065
- Cash +€23,265
up €23,265 (+29.3%), from €79,360 to €102,625
mainly Net result for the year (+€880,286) and Deferred charges and accrued income (+€81,124)
- Tangible fixed assets -€14,985
down €14,985 (-66.4%), from €22,577 to €7,592
- Receivables within one year +€2,987
up €2,987 (+15.8%), from €18,890 to €21,877
- Other debts -€150,000
no longer reported in 2025 (was €150,000)
- Reserves +€95,286
up €95,286 (+686.7%), from €13,876 to €109,162
- Debts after one year -€16,843
no longer reported in 2025 (was €16,843)
- Current portion of long-term debt +€3,385
new in 2025: €3,385
- Gross operating margin +€975,913
up €975,913 (+469.0%), from €208,100 to €1.2m
- Taxes +€243,071
up €243,071 (+549.0%), from €44,276 to €287,347
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 | €204,016 | €134,158 | -€69,858 | -34.2% |
| Fixed assets | 21/28 | €22,577 | €7,592 | -€14,985 | -66.4% |
| Tangible fixed assets | 22/27 | €22,577 | €7,592 | -€14,985 | -66.4% |
| Furniture and vehicles | 24 | €22,577 | €7,592 | -€14,985 | -66.4% |
| Current assets | 29/58 | €181,439 | €126,566 | -€54,873 | -30.2% |
| Amounts receivable within one year | 40/41 | €18,890 | €21,877 | +€2,987 | +15.8% |
| Trade receivables | 40 | €18,890 | €21,877 | +€2,987 | +15.8% |
| Cash at bank and in hand | 54/58 | €79,360 | €102,625 | +€23,265 | +29.3% |
| Deferred charges and accrued income | 490/1 | €83,189 | €2,065 | -€81,124 | -97.5% |
| Total equity and liabilities | 10/49 | €204,016 | €134,158 | -€69,858 | -34.2% |
| Equity | 10/15 | €14,876 | €110,162 | +€95,286 | +640.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €13,876 | €109,162 | +€95,286 | +686.7% |
| Distributable reserves | 133 | €13,876 | €109,162 | +€95,286 | +686.7% |
| Amounts payable | 17/49 | €189,140 | €23,996 | -€165,144 | -87.3% |
| Amounts payable after more than one year | 17 | €16,843 | - | -€16,843 | |
| Financial debts | 170/4 | €16,843 | - | -€16,843 | |
| Amounts payable within one year | 42/48 | €172,297 | €23,996 | -€148,301 | -86.1% |
| Current portion of amounts payable after more than one year | 42 | - | €3,385 | +€3,385 | |
| Trade debts | 44 | €2,667 | €1,722 | -€945 | -35.4% |
| Suppliers | 440/4 | €2,667 | €1,722 | -€945 | -35.4% |
| Taxes, remuneration and social security | 45 | €19,631 | €18,889 | -€742 | -3.8% |
| Taxes | 450/3 | €19,631 | €18,889 | -€742 | -3.8% |
| Other amounts payable | 47/48 | €150,000 | - | -€150,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,592 | €15,885 | -€707 | -4.3% |
| Other operating charges | 640/8 | €362 | €212 | -€150 | -41.4% |
| Gross operating margin | 9900 | €208,100 | €1,184,014 | +€975,913 | +469.0% |
| Operating profit (loss) | 9901 | €191,146 | €1,167,917 | +€976,771 | +511.0% |
| Financial income | 75/76B | €2,531 | - | -€2,531 | |
| Recurring financial income | 75 | €2,531 | - | -€2,531 | |
| Financial charges | 65/66B | €401 | €283 | -€118 | -29.3% |
| Recurring financial charges | 65 | €401 | €283 | -€118 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | €193,277 | €1,167,634 | +€974,357 | +504.1% |
| Income taxes | 67/77 | €44,276 | €287,347 | +€243,071 | +549.0% |
| Profit (loss) for the period | 9904 | €149,001 | €880,286 | +€731,286 | +490.8% |
| Profit (loss) for the period to be appropriated | 9905 | €149,001 | €880,286 | +€731,286 | +490.8% |
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 9 October 2026 via checked.be.