DESGRA: 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.
DESGRA
Largest movements
- Receivables after one year +€93,231
new in 2025: €93,231
- Cash +€15,461
up €15,461 (+42.2%), from €36,658 to €52,119
mainly Net result for the year (+€105,674) and Depreciation (+€49,274)
- Tangible fixed assets +€9,201
up €9,201 (+1.6%), from €563,797 to €572,998
of which Land and buildings: +€207,901
- Reserves +€105,674
up €105,674 (+18.7%), from €564,889 to €670,563
of which Distributable reserves: +€105,674
- Debts after one year -€20,633
down €20,633 (-100.0%), from €20,633 to €0
- Other debts +€19,317
up €19,317 (+353.3%), from €5,468 to €24,785
- Tax, wage and social debts +€8,169
up €8,169 (+64.5%), from €12,660 to €20,829
- Gross operating margin +€38,485
up €38,485 (+23.7%), from €162,588 to €201,073
- Taxes +€11,283
up €11,283 (+35.1%), from €32,119 to €43,402
- Depreciation +€8,961
up €8,961 (+22.2%), from €40,312 to €49,274
- Write-downs -€3,271
down €3,271 (-16530.0%), from -€20 to -€3,291
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 | €652,711 | €767,386 | +€114,675 | +17.6% |
| Fixed assets | 21/28 | €563,797 | €572,998 | +€9,201 | +1.6% |
| Tangible fixed assets | 22/27 | €563,797 | €572,998 | +€9,201 | +1.6% |
| Land and buildings | 22 | €343,679 | €551,581 | +€207,901 | +60.5% |
| Plant, machinery and equipment | 23 | €5,578 | €16,983 | +€11,405 | +204.4% |
| Furniture and vehicles | 24 | €5,411 | €4,435 | -€977 | -18.0% |
| Other tangible fixed assets | 26 | €209,128 | €0 | -€209,128 | -100.0% |
| Current assets | 29/58 | €88,914 | €194,387 | +€105,474 | +118.6% |
| Amounts receivable after more than one year | 29 | - | €93,231 | +€93,231 | |
| Other amounts receivable | 291 | - | €93,231 | +€93,231 | |
| Stocks and contracts in progress | 3 | €27,366 | €23,083 | -€4,284 | -15.7% |
| Stocks | 30/36 | €27,366 | €23,083 | -€4,284 | -15.7% |
| Amounts receivable within one year | 40/41 | €23,762 | €23,134 | -€628 | -2.6% |
| Trade receivables | 40 | €20,671 | €21,655 | +€985 | +4.8% |
| Other amounts receivable | 41 | €3,091 | €1,478 | -€1,613 | -52.2% |
| Cash at bank and in hand | 54/58 | €36,658 | €52,119 | +€15,461 | +42.2% |
| Deferred charges and accrued income | 490/1 | €1,128 | €2,822 | +€1,694 | +150.2% |
| Total equity and liabilities | 10/49 | €652,711 | €767,386 | +€114,675 | +17.6% |
| Equity | 10/15 | €571,089 | €676,763 | +€105,674 | +18.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €564,889 | €670,563 | +€105,674 | +18.7% |
| Tax-exempt reserves | 132 | €678 | €678 | = | 0.0% |
| Distributable reserves | 133 | €564,211 | €669,885 | +€105,674 | +18.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €81,622 | €90,623 | +€9,001 | +11.0% |
| Amounts payable after more than one year | 17 | €20,633 | €0 | -€20,633 | -100.0% |
| Financial debts | 170/4 | €20,633 | €0 | -€20,633 | -100.0% |
| Amounts payable within one year | 42/48 | €45,409 | €73,840 | +€28,431 | +62.6% |
| Current portion of amounts payable after more than one year | 42 | €20,312 | €20,633 | +€322 | +1.6% |
| Financial debts | 43 | €45 | €2 | -€43 | -94.7% |
| Credit institutions | 430/8 | €45 | €2 | -€43 | -94.7% |
| Trade debts | 44 | €6,925 | €7,591 | +€666 | +9.6% |
| Suppliers | 440/4 | €6,925 | €7,591 | +€666 | +9.6% |
| Taxes, remuneration and social security | 45 | €12,660 | €20,829 | +€8,169 | +64.5% |
| Taxes | 450/3 | €12,660 | €20,829 | +€8,169 | +64.5% |
| Other amounts payable | 47/48 | €5,468 | €24,785 | +€19,317 | +353.3% |
| Accrued charges and deferred income | 492/3 | €15,580 | €16,783 | +€1,203 | +7.7% |
| Non-recurring operating income | 76A | - | €165 | +€165 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,312 | €49,274 | +€8,961 | +22.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€20 | -€3,291 | -€3,271 | -16530.0% |
| Other operating charges | 640/8 | €4,205 | €4,464 | +€259 | +6.2% |
| Gross operating margin | 9900 | €162,588 | €201,073 | +€38,485 | +23.7% |
| Operating profit (loss) | 9901 | €118,091 | €150,626 | +€32,536 | +27.6% |
| Financial income | 75/76B | €407 | €983 | +€577 | +141.8% |
| Recurring financial income | 75 | €407 | €983 | +€577 | +141.8% |
| Financial charges | 65/66B | €2,470 | €2,534 | +€64 | +2.6% |
| Recurring financial charges | 65 | €2,470 | €2,534 | +€64 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | €116,027 | €149,076 | +€33,049 | +28.5% |
| Income taxes | 67/77 | €32,119 | €43,402 | +€11,283 | +35.1% |
| Profit (loss) for the period | 9904 | €83,908 | €105,674 | +€21,766 | +25.9% |
| Profit (loss) for the period to be appropriated | 9905 | €83,908 | €105,674 | +€21,766 | +25.9% |
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 29 September 2026 via checked.be.