DESME: 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.
DESME
Largest movements
- Cash +€64,478
up €64,478 (+183.5%), from €35,139 to €99,616
mainly Net result for the year (+€61,433) and Current investments (+€14,730)
- Receivables within one year +€22,516
up €22,516 (+75.1%), from €29,975 to €52,491
of which Trade receivables: +€19,458
- Current investments -€14,730
down €14,730 (-7.4%), from €200,000 to €185,270
- Tangible fixed assets -€13,218
down €13,218 (-16.9%), from €78,325 to €65,107
of which Furniture and vehicles: -€9,549
- Reserves +€57,433
up €57,433 (+18.3%), from €314,244 to €371,677
- Taxes -€7,906
down €7,906 (-35.0%), from €22,616 to €14,711
- Gross operating margin -€6,423
down €6,423 (-6.8%), from €95,154 to €88,731
- Financial income -€1,438
down €1,438 (-35.9%), from €4,005 to €2,566
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 | €344,534 | €403,619 | +€59,085 | +17.1% |
| Fixed assets | 21/28 | €78,415 | €65,197 | -€13,218 | -16.9% |
| Tangible fixed assets | 22/27 | €78,325 | €65,107 | -€13,218 | -16.9% |
| Land and buildings | 22 | €40,887 | €37,218 | -€3,669 | -9.0% |
| Furniture and vehicles | 24 | €37,438 | €27,889 | -€9,549 | -25.5% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €266,119 | €338,422 | +€72,304 | +27.2% |
| Amounts receivable within one year | 40/41 | €29,975 | €52,491 | +€22,516 | +75.1% |
| Trade receivables | 40 | €28,374 | €47,832 | +€19,458 | +68.6% |
| Other amounts receivable | 41 | €1,601 | €4,659 | +€3,058 | +191.1% |
| Current investments | 50/53 | €200,000 | €185,270 | -€14,730 | -7.4% |
| Cash at bank and in hand | 54/58 | €35,139 | €99,616 | +€64,478 | +183.5% |
| Deferred charges and accrued income | 490/1 | €1,006 | €1,045 | +€39 | +3.9% |
| Total equity and liabilities | 10/49 | €344,534 | €403,619 | +€59,085 | +17.1% |
| Equity | 10/15 | €326,644 | €384,077 | +€57,433 | +17.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €314,244 | €371,677 | +€57,433 | +18.3% |
| Distributable reserves | 133 | €314,244 | €371,677 | +€57,433 | +18.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €17,890 | €19,542 | +€1,652 | +9.2% |
| Amounts payable within one year | 42/48 | €17,785 | €19,309 | +€1,524 | +8.6% |
| Trade debts | 44 | €1,073 | €1,018 | -€55 | -5.2% |
| Suppliers | 440/4 | €1,073 | €1,018 | -€55 | -5.2% |
| Taxes, remuneration and social security | 45 | €13,873 | €14,099 | +€226 | +1.6% |
| Taxes | 450/3 | €13,873 | €14,099 | +€226 | +1.6% |
| Other amounts payable | 47/48 | €2,838 | €4,192 | +€1,353 | +47.7% |
| Accrued charges and deferred income | 492/3 | €105 | €233 | +€128 | +121.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,180 | €14,374 | +€194 | +1.4% |
| Other operating charges | 640/8 | €550 | €708 | +€157 | +28.6% |
| Gross operating margin | 9900 | €95,154 | €88,731 | -€6,423 | -6.8% |
| Operating profit (loss) | 9901 | €80,424 | €73,649 | -€6,775 | -8.4% |
| Financial income | 75/76B | €4,005 | €2,566 | -€1,438 | -35.9% |
| Recurring financial income | 75 | €4,005 | €2,566 | -€1,438 | -35.9% |
| Financial charges | 65/66B | €87 | €71 | -€16 | -18.0% |
| Recurring financial charges | 65 | €87 | €71 | -€16 | -18.0% |
| Profit (loss) for the period before taxes | 9903 | €84,342 | €76,144 | -€8,198 | -9.7% |
| Income taxes | 67/77 | €22,616 | €14,711 | -€7,906 | -35.0% |
| Profit (loss) for the period | 9904 | €61,725 | €61,433 | -€292 | -0.5% |
| Profit (loss) for the period to be appropriated | 9905 | €61,725 | €61,433 | -€292 | -0.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.