DESFO: 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.
DESFO
Largest movements
- Tangible fixed assets -€36,591
down €36,591 (-13.6%), from €269,945 to €233,354
of which Land and buildings: -€22,852
- Receivables within one year -€35,542
down €35,542 (-93.6%), from €37,992 to €2,450
of which Trade receivables: -€32,657
- Deferred charges and accrued income -€17,612
down €17,612 (-94.6%), from €18,621 to €1,009
- Profit (loss) carried forward -€48,238
down €48,238 (-42.2%), from -€114,276 to -€162,514
- Trade debts -€20,895
down €20,895 (-87.1%), from €23,999 to €3,104
- Accrued charges and deferred income -€14,005
down €14,005 (-67.3%), from €20,800 to €6,796
- Other debts -€5,706
down €5,706 (-4.4%), from €129,590 to €123,884
- Gross operating margin -€22,436
down €22,436, from €20,089 to -€2,347
- Other operating charges +€2,933
up €2,933 (+126.8%), from €2,313 to €5,246
- Financial income -€704
down €704 (-63.3%), from €1,113 to €409
- Financial charges +€305
up €305 (+7.6%), from €4,028 to €4,333
- Depreciation -€293
down €293 (-0.8%), from €36,884 to €36,591
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 | €370,864 | €281,435 | -€89,429 | -24.1% |
| Fixed assets | 21/28 | €269,945 | €233,354 | -€36,591 | -13.6% |
| Tangible fixed assets | 22/27 | €269,945 | €233,354 | -€36,591 | -13.6% |
| Land and buildings | 22 | €229,459 | €206,606 | -€22,852 | -10.0% |
| Plant, machinery and equipment | 23 | €12,454 | €7,859 | -€4,595 | -36.9% |
| Furniture and vehicles | 24 | €28,033 | €18,889 | -€9,144 | -32.6% |
| Current assets | 29/58 | €100,919 | €48,081 | -€52,838 | -52.4% |
| Stocks and contracts in progress | 3 | €1,296 | €1,397 | +€100 | +7.8% |
| Stocks | 30/36 | €1,296 | €1,397 | +€100 | +7.8% |
| Amounts receivable within one year | 40/41 | €37,992 | €2,450 | -€35,542 | -93.6% |
| Trade receivables | 40 | €32,737 | €80 | -€32,657 | -99.8% |
| Other amounts receivable | 41 | €5,255 | €2,370 | -€2,885 | -54.9% |
| Cash at bank and in hand | 54/58 | €43,009 | €43,226 | +€216 | +0.5% |
| Deferred charges and accrued income | 490/1 | €18,621 | €1,009 | -€17,612 | -94.6% |
| Total equity and liabilities | 10/49 | €370,864 | €281,435 | -€89,429 | -24.1% |
| Equity | 10/15 | €186,880 | €138,642 | -€48,238 | -25.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Revaluation surpluses | 12 | €277,606 | €277,606 | = | 0.0% |
| Reserves | 13 | €4,958 | €4,958 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €4,958 | €4,958 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€114,276 | -€162,514 | -€48,238 | -42.2% |
| Amounts payable | 17/49 | €183,984 | €142,794 | -€41,191 | -22.4% |
| Amounts payable after more than one year | 17 | €1,488 | €746 | -€742 | -49.9% |
| Financial debts | 170/4 | €1,488 | €746 | -€742 | -49.9% |
| Amounts payable within one year | 42/48 | €161,696 | €135,252 | -€26,444 | -16.4% |
| Current portion of amounts payable after more than one year | 42 | €2,869 | €2,110 | -€759 | -26.5% |
| Trade debts | 44 | €23,999 | €3,104 | -€20,895 | -87.1% |
| Suppliers | 440/4 | €23,999 | €3,104 | -€20,895 | -87.1% |
| Taxes, remuneration and social security | 45 | €5,237 | €6,154 | +€917 | +17.5% |
| Taxes | 450/3 | €2,377 | €3,278 | +€901 | +37.9% |
| Remuneration and social security | 454/9 | €2,860 | €2,876 | +€16 | +0.6% |
| Other amounts payable | 47/48 | €129,590 | €123,884 | -€5,706 | -4.4% |
| Accrued charges and deferred income | 492/3 | €20,800 | €6,796 | -€14,005 | -67.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,884 | €36,591 | -€293 | -0.8% |
| Other operating charges | 640/8 | €2,313 | €5,246 | +€2,933 | +126.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €20,089 | -€2,347 | -€22,436 | |
| Operating profit (loss) | 9901 | -€19,108 | -€44,184 | -€25,076 | -131.2% |
| Financial income | 75/76B | €1,113 | €409 | -€704 | -63.3% |
| Recurring financial income | 75 | €1,113 | €409 | -€704 | -63.3% |
| Financial charges | 65/66B | €4,028 | €4,333 | +€305 | +7.6% |
| Recurring financial charges | 65 | €4,028 | €4,333 | +€305 | +7.6% |
| Profit (loss) for the period before taxes | 9903 | -€22,023 | -€48,108 | -€26,086 | -118.4% |
| Income taxes | 67/77 | €126 | €130 | +€4 | +3.2% |
| Profit (loss) for the period | 9904 | -€22,149 | -€48,238 | -€26,090 | -117.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€22,149 | -€48,238 | -€26,090 | -117.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.