DéSIRéE AERTS: 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.
DéSIRéE AERTS
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+514%), from €233,881 to €1.4m
of which Land and buildings: +€1.2m
- Cash -€77,039
down €77,039 (-22.5%), from €342,460 to €265,421
mainly Investment in fixed assets (net) (-€1.2m) and Other debts (-€45,118)
- Receivables within one year -€46,682
down €46,682 (-56.4%), from €82,777 to €36,095
of which Other amounts receivable: -€31,492
- Debts after one year +€1.1m
up €1.1m (+622%), from €169,005 to €1.2m
- Trade debts +€85,431
up €85,431 (+533%), from €16,031 to €101,462
- Other debts -€45,118
down €45,118 (-96.1%), from €46,955 to €1,837
- Profit (loss) carried forward -€22,604
new in 2025: -€22,604
- Gross operating margin -€228,584
down €228,584 (-85.6%), from €266,882 to €38,298
- Taxes -€72,719
down €72,719 (-98.7%), from €73,655 to €936
- Depreciation +€12,542
up €12,542 (+36.7%), from €34,215 to €46,757
- Financial charges +€9,965
up €9,965 (+244%), from €4,077 to €14,042
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 | €665,166 | €1,741,078 | +€1.1m | +162% |
| Fixed assets | 21/28 | €233,881 | €1,436,876 | +€1.2m | +514% |
| Tangible fixed assets | 22/27 | €233,881 | €1,436,876 | +€1.2m | +514% |
| Land and buildings | 22 | €209,886 | €1,420,228 | +€1.2m | +577% |
| Plant, machinery and equipment | 23 | €14,458 | €10,304 | -€4,154 | -28.7% |
| Furniture and vehicles | 24 | €9,538 | €6,344 | -€3,194 | -33.5% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Current assets | 29/58 | €431,285 | €304,202 | -€127,083 | -29.5% |
| Amounts receivable within one year | 40/41 | €82,777 | €36,095 | -€46,682 | -56.4% |
| Trade receivables | 40 | €28,373 | €13,183 | -€15,191 | -53.5% |
| Other amounts receivable | 41 | €54,404 | €22,912 | -€31,492 | -57.9% |
| Cash at bank and in hand | 54/58 | €342,460 | €265,421 | -€77,039 | -22.5% |
| Deferred charges and accrued income | 490/1 | €6,048 | €2,686 | -€3,362 | -55.6% |
| Total equity and liabilities | 10/49 | €665,166 | €1,741,078 | +€1.1m | +162% |
| Equity | 10/15 | €415,847 | €390,673 | -€25,174 | -6.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €403,447 | €400,877 | -€2,570 | -0.6% |
| Distributable reserves | 133 | €403,447 | €400,877 | -€2,570 | -0.6% |
| Profit (loss) carried forward | 14 | - | -€22,604 | -€22,604 | |
| Amounts payable | 17/49 | €249,319 | €1,350,405 | +€1.1m | +442% |
| Amounts payable after more than one year | 17 | €169,005 | €1,220,803 | +€1.1m | +622% |
| Financial debts | 170/4 | €169,005 | €1,220,803 | +€1.1m | +622% |
| Amounts payable within one year | 42/48 | €80,314 | €129,602 | +€49,287 | +61.4% |
| Current portion of amounts payable after more than one year | 42 | €12,338 | €12,559 | +€221 | +1.8% |
| Trade debts | 44 | €16,031 | €101,462 | +€85,431 | +533% |
| Suppliers | 440/4 | €16,031 | €101,462 | +€85,431 | +533% |
| Taxes, remuneration and social security | 45 | €4,990 | €13,744 | +€8,753 | +175% |
| Taxes | 450/3 | €4,990 | €13,744 | +€8,753 | +175% |
| Other amounts payable | 47/48 | €46,955 | €1,837 | -€45,118 | -96.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,215 | €46,757 | +€12,542 | +36.7% |
| Other operating charges | 640/8 | €1,882 | €1,736 | -€146 | -7.8% |
| Gross operating margin | 9900 | €266,882 | €38,298 | -€228,584 | -85.6% |
| Operating profit (loss) | 9901 | €230,785 | -€10,195 | -€240,980 | |
| Financial income | 75/76B | €1,812 | - | -€1,812 | |
| Recurring financial income | 75 | €1,812 | - | -€1,812 | |
| Financial charges | 65/66B | €4,077 | €14,042 | +€9,965 | +244% |
| Recurring financial charges | 65 | €4,077 | €14,042 | +€9,965 | +244% |
| Profit (loss) for the period before taxes | 9903 | €228,520 | -€24,237 | -€252,757 | |
| Income taxes | 67/77 | €73,655 | €936 | -€72,719 | -98.7% |
| Profit (loss) for the period | 9904 | €154,865 | -€25,174 | -€180,038 | |
| Profit (loss) for the period to be appropriated | 9905 | €154,865 | -€25,174 | -€180,038 |
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 21 October 2026 via checked.be.