Desma: 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.
Desma
Largest movements
- Receivables within one year +€496,297
up €496,297 (+21.4%), from €2.3m to €2.8m
of which Other amounts receivable: +€270,076
- Cash -€265,681
down €265,681 (-53.1%), from €500,616 to €234,935
mainly Receivables within one year (-€496,297) and Contributions, distributions and other (-€330,000)
- Stocks and contracts -€66,926
down €66,926 (-10.5%), from €636,662 to €569,736
- Other debts +€317,138
up €317,138 (+2218.4%), from €14,296 to €331,434
- Tax, wage and social debts +€154,891
up €154,891 (+114.4%), from €135,414 to €290,305
of which Taxes: +€141,123
- Debts after one year -€152,488
down €152,488 (-25.7%), from €593,094 to €440,606
- Short-term financial debts -€110,865
down €110,865 (-36.5%), from €303,382 to €192,517
- Accrued charges and deferred income -€84,378
down €84,378 (-34.7%), from €242,962 to €158,584
- Gross operating margin -€226,258
down €226,258 (-11.5%), from €2.0m to €1.7m
- Staff costs +€88,915
up €88,915 (+9.5%), from €938,216 to €1.0m
- Taxes -€63,034
down €63,034 (-31.4%), from €200,743 to €137,709
- Depreciation -€22,426
down €22,426 (-14.9%), from €150,769 to €128,343
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,969,399 | €4,104,253 | +€134,854 | +3.4% |
| Fixed assets | 21/28 | €508,151 | €479,315 | -€28,835 | -5.7% |
| Tangible fixed assets | 22/27 | €508,151 | €479,315 | -€28,835 | -5.7% |
| Plant, machinery and equipment | 23 | €113,687 | €165,186 | +€51,499 | +45.3% |
| Furniture and vehicles | 24 | €842 | €657 | -€185 | -22.0% |
| Other tangible fixed assets | 26 | €393,622 | €313,472 | -€80,150 | -20.4% |
| Current assets | 29/58 | €3,461,248 | €3,624,938 | +€163,690 | +4.7% |
| Stocks and contracts in progress | 3 | €636,662 | €569,736 | -€66,926 | -10.5% |
| Stocks | 30/36 | €636,662 | €569,736 | -€66,926 | -10.5% |
| Amounts receivable within one year | 40/41 | €2,323,970 | €2,820,267 | +€496,297 | +21.4% |
| Trade receivables | 40 | €32,183 | €258,403 | +€226,220 | +702.9% |
| Other amounts receivable | 41 | €2,291,787 | €2,561,863 | +€270,076 | +11.8% |
| Cash at bank and in hand | 54/58 | €500,616 | €234,935 | -€265,681 | -53.1% |
| Total equity and liabilities | 10/49 | €3,969,399 | €4,104,253 | +€134,854 | +3.4% |
| Equity | 10/15 | €1,304,982 | €1,333,450 | +€28,468 | +2.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €22,639 | €22,639 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,274 | €6,274 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €74 | €74 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,366 | €16,366 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,220,342 | €1,248,811 | +€28,468 | +2.3% |
| Amounts payable | 17/49 | €2,664,417 | €2,770,803 | +€106,386 | +4.0% |
| Amounts payable after more than one year | 17 | €593,094 | €440,606 | -€152,488 | -25.7% |
| Financial debts | 170/4 | €593,094 | €440,606 | -€152,488 | -25.7% |
| Amounts payable within one year | 42/48 | €1,828,361 | €2,171,613 | +€343,252 | +18.8% |
| Current portion of amounts payable after more than one year | 42 | €271,117 | €214,574 | -€56,544 | -20.9% |
| Financial debts | 43 | €303,382 | €192,517 | -€110,865 | -36.5% |
| Credit institutions | 430/8 | €303,382 | €192,517 | -€110,865 | -36.5% |
| Trade debts | 44 | €1,104,152 | €1,142,783 | +€38,631 | +3.5% |
| Suppliers | 440/4 | €1,104,152 | €1,142,783 | +€38,631 | +3.5% |
| Taxes, remuneration and social security | 45 | €135,414 | €290,305 | +€154,891 | +114.4% |
| Taxes | 450/3 | €425 | €141,548 | +€141,123 | +33236.7% |
| Remuneration and social security | 454/9 | €134,989 | €148,758 | +€13,769 | +10.2% |
| Other amounts payable | 47/48 | €14,296 | €331,434 | +€317,138 | +2218.4% |
| Accrued charges and deferred income | 492/3 | €242,962 | €158,584 | -€84,378 | -34.7% |
| Remuneration, social security and pensions | 62 | €938,216 | €1,027,131 | +€88,915 | +9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €150,769 | €128,343 | -€22,426 | -14.9% |
| Other operating charges | 640/8 | €21,826 | €23,715 | +€1,889 | +8.7% |
| Gross operating margin | 9900 | €1,959,209 | €1,732,951 | -€226,258 | -11.5% |
| Operating profit (loss) | 9901 | €848,398 | €553,761 | -€294,637 | -34.7% |
| Financial income | 75/76B | €2,427 | €1,631 | -€797 | -32.8% |
| Recurring financial income | 75 | €2,427 | €1,631 | -€797 | -32.8% |
| Financial charges | 65/66B | €62,333 | €59,214 | -€3,119 | -5.0% |
| Recurring financial charges | 65 | €62,333 | €59,214 | -€3,119 | -5.0% |
| Profit (loss) for the period before taxes | 9903 | €788,492 | €496,177 | -€292,314 | -37.1% |
| Income taxes | 67/77 | €200,743 | €137,709 | -€63,034 | -31.4% |
| Profit (loss) for the period | 9904 | €587,748 | €358,468 | -€229,280 | -39.0% |
| Profit (loss) for the period to be appropriated | 9905 | €587,748 | €358,468 | -€229,280 | -39.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.