DESMANAGEMENT: 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.
DESMANAGEMENT
Largest movements
- Tangible fixed assets -€33,090
down €33,090 (-7.5%), from €439,280 to €406,191
of which Land and buildings: -€18,914
- Trade debts -€40,303
down €40,303 (-83.4%), from €48,331 to €8,028
- Other debts +€38,334
up €38,334 (+187.7%), from €20,420 to €58,754
- Debts after one year -€26,717
down €26,717 (-9.6%), from €277,539 to €250,822
of which Financial debts: -€26,717
- Reserves -€15,027
down €15,027 (-44.2%), from €34,027 to €19,000
of which Non-distributable reserves: -€34,027
- Current portion of long-term debt -€8,236
down €8,236 (-24.1%), from €34,180 to €25,944
- Gross operating margin -€5,331
down €5,331 (-13.6%), from €39,312 to €33,981
- Financial charges -€5,079
down €5,079 (-63.4%), from €8,011 to €2,932
- Other operating charges +€990
up €990 (+19.4%), from €5,102 to €6,091
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 | €471,116 | €431,163 | -€39,953 | -8.5% |
| Fixed assets | 21/28 | €439,280 | €406,191 | -€33,090 | -7.5% |
| Tangible fixed assets | 22/27 | €439,280 | €406,191 | -€33,090 | -7.5% |
| Land and buildings | 22 | €393,066 | €374,152 | -€18,914 | -4.8% |
| Furniture and vehicles | 24 | €46,214 | €32,038 | -€14,176 | -30.7% |
| Current assets | 29/58 | €31,836 | €24,973 | -€6,863 | -21.6% |
| Amounts receivable within one year | 40/41 | €28,238 | €23,851 | -€4,386 | -15.5% |
| Trade receivables | 40 | €28,238 | €23,851 | -€4,386 | -15.5% |
| Cash at bank and in hand | 54/58 | €1,501 | - | -€1,501 | |
| Deferred charges and accrued income | 490/1 | €2,098 | €1,121 | -€976 | -46.5% |
| Total equity and liabilities | 10/49 | €471,116 | €431,163 | -€39,953 | -8.5% |
| Equity | 10/15 | €48,527 | €39,778 | -€8,749 | -18.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €34,027 | €19,000 | -€15,027 | -44.2% |
| Non-distributable reserves | 130/1 | €34,027 | - | -€34,027 | |
| Reserves not available under the articles | 1311 | €34,027 | - | -€34,027 | |
| Distributable reserves | 133 | - | €19,000 | +€19,000 | |
| Profit (loss) carried forward | 14 | -€5,499 | €778 | +€6,278 | |
| Amounts payable | 17/49 | €422,589 | €391,385 | -€31,204 | -7.4% |
| Amounts payable after more than one year | 17 | €277,539 | €250,822 | -€26,717 | -9.6% |
| Financial debts | 170/4 | €76,028 | €49,311 | -€26,717 | -35.1% |
| Other amounts payable | 178/9 | €201,511 | €201,511 | = | 0.0% |
| Amounts payable within one year | 42/48 | €104,110 | €99,623 | -€4,487 | -4.3% |
| Current portion of amounts payable after more than one year | 42 | €34,180 | €25,944 | -€8,236 | -24.1% |
| Trade debts | 44 | €48,331 | €8,028 | -€40,303 | -83.4% |
| Suppliers | 440/4 | €48,331 | €8,028 | -€40,303 | -83.4% |
| Taxes, remuneration and social security | 45 | €1,179 | €6,897 | +€5,718 | +484.8% |
| Taxes | 450/3 | €1,179 | €6,897 | +€5,718 | +484.8% |
| Other amounts payable | 47/48 | €20,420 | €58,754 | +€38,334 | +187.7% |
| Accrued charges and deferred income | 492/3 | €40,939 | €40,939 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,002 | €33,090 | +€88 | +0.3% |
| Other operating charges | 640/8 | €5,102 | €6,091 | +€990 | +19.4% |
| Gross operating margin | 9900 | €39,312 | €33,981 | -€5,331 | -13.6% |
| Operating profit (loss) | 9901 | €1,209 | -€5,200 | -€6,409 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €8,011 | €2,932 | -€5,079 | -63.4% |
| Recurring financial charges | 65 | €8,011 | €2,932 | -€5,079 | -63.4% |
| Profit (loss) for the period before taxes | 9903 | -€6,802 | -€8,132 | -€1,330 | -19.6% |
| Income taxes | 67/77 | €267 | €617 | +€350 | +131.1% |
| Profit (loss) for the period | 9904 | -€7,069 | -€8,749 | -€1,680 | -23.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,069 | -€8,749 | -€1,680 | -23.8% |
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 12 October 2026 via checked.be.