DESMET & ENGELS: 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.
DESMET & ENGELS
Largest movements
- Cash -€217,410
down €217,410 (-88.9%), from €244,555 to €27,146
mainly Tax, wage and social debts (-€181,727) and Deferred charges and accrued income (-€70,604)
- Tangible fixed assets -€124,718
down €124,718 (-16.6%), from €753,076 to €628,358
of which Furniture and vehicles: -€99,465
- Deferred charges and accrued income +€70,604
up €70,604 (+76.9%), from €91,828 to €162,431
- Receivables within one year +€65,955
up €65,955 (+2.7%), from €2.4m to €2.5m
of which Other amounts receivable: +€37,529
- Tax, wage and social debts -€181,727
down €181,727 (-52.6%), from €345,521 to €163,794
of which Taxes: -€177,703
- Reserves +€61,678
up €61,678 (+5.6%), from €1.1m to €1.2m
of which Distributable reserves: +€61,678
- Debts after one year -€37,271
down €37,271 (-10.3%), from €360,693 to €323,421
- Gross operating margin -€344,793
down €344,793 (-57.6%), from €598,085 to €253,292
- Taxes -€71,711
down €71,711 (-71.5%), from €100,324 to €28,614
- Financial income +€70,446
up €70,446 (+84.9%), from €82,993 to €153,440
- Provisions +€45,206
up €45,206 (+79.8%), from -€56,632 to -€11,426
- Financial charges -€30,125
down €30,125 (-24.6%), from €122,223 to €92,098
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 | €3,638,829 | €3,432,259 | -€206,570 | -5.7% |
| Fixed assets | 21/28 | €885,576 | €763,858 | -€121,718 | -13.7% |
| Tangible fixed assets | 22/27 | €753,076 | €628,358 | -€124,718 | -16.6% |
| Land and buildings | 22 | €510,455 | €498,721 | -€11,734 | -2.3% |
| Furniture and vehicles | 24 | €193,912 | €94,447 | -€99,465 | -51.3% |
| Leasing and similar rights | 25 | €48,709 | €35,189 | -€13,520 | -27.8% |
| Financial fixed assets | 28 | €132,500 | €135,500 | +€3,000 | +2.3% |
| Current assets | 29/58 | €2,753,253 | €2,668,402 | -€84,851 | -3.1% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €4,000 | €0 | -€4,000 | -100.0% |
| Stocks | 30/36 | €4,000 | €0 | -€4,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €2,412,870 | €2,478,825 | +€65,955 | +2.7% |
| Trade receivables | 40 | €168,688 | €197,114 | +€28,426 | +16.9% |
| Other amounts receivable | 41 | €2,244,182 | €2,281,711 | +€37,529 | +1.7% |
| Cash at bank and in hand | 54/58 | €244,555 | €27,146 | -€217,410 | -88.9% |
| Deferred charges and accrued income | 490/1 | €91,828 | €162,431 | +€70,604 | +76.9% |
| Total equity and liabilities | 10/49 | €3,638,829 | €3,432,259 | -€206,570 | -5.7% |
| Equity | 10/15 | €1,120,098 | €1,181,776 | +€61,678 | +5.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,100,098 | €1,161,776 | +€61,678 | +5.6% |
| Tax-exempt reserves | 132 | €48,263 | €48,263 | = | 0.0% |
| Distributable reserves | 133 | €1,051,835 | €1,113,513 | +€61,678 | +5.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €21,696 | €10,270 | -€11,426 | -52.7% |
| Provisions for liabilities and charges | 160/5 | €21,696 | €10,270 | -€11,426 | -52.7% |
| Other liabilities and charges | 164/5 | €21,696 | €10,270 | -€11,426 | -52.7% |
| Amounts payable | 17/49 | €2,497,035 | €2,240,214 | -€256,822 | -10.3% |
| Amounts payable after more than one year | 17 | €360,693 | €323,421 | -€37,271 | -10.3% |
| Financial debts | 170/4 | €360,693 | €323,421 | -€37,271 | -10.3% |
| Amounts payable within one year | 42/48 | €2,080,761 | €1,867,128 | -€213,633 | -10.3% |
| Current portion of amounts payable after more than one year | 42 | €36,114 | €37,271 | +€1,158 | +3.2% |
| Financial debts | 43 | €400,000 | €400,000 | = | 0.0% |
| Credit institutions | 430/8 | €400,000 | €400,000 | = | 0.0% |
| Trade debts | 44 | €215,587 | €186,882 | -€28,706 | -13.3% |
| Suppliers | 440/4 | €215,587 | €186,882 | -€28,706 | -13.3% |
| Advances received on contracts in progress | 46 | €10,000 | €0 | -€10,000 | -100.0% |
| Taxes, remuneration and social security | 45 | €345,521 | €163,794 | -€181,727 | -52.6% |
| Taxes | 450/3 | €323,600 | €145,897 | -€177,703 | -54.9% |
| Remuneration and social security | 454/9 | €21,921 | €17,896 | -€4,025 | -18.4% |
| Other amounts payable | 47/48 | €1,073,539 | €1,079,181 | +€5,642 | +0.5% |
| Accrued charges and deferred income | 492/3 | €55,581 | €49,664 | -€5,917 | -10.6% |
| Remuneration, social security and pensions | 62 | €125,783 | €111,249 | -€14,534 | -11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €111,312 | €96,522 | -€14,790 | -13.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€56,632 | -€11,426 | +€45,206 | +79.8% |
| Other operating charges | 640/8 | €8,180 | €6,253 | -€1,927 | -23.6% |
| Gross operating margin | 9900 | €598,085 | €253,292 | -€344,793 | -57.6% |
| Operating profit (loss) | 9901 | €409,442 | €50,694 | -€358,748 | -87.6% |
| Financial income | 75/76B | €82,993 | €153,440 | +€70,446 | +84.9% |
| Recurring financial income | 75 | €82,993 | €153,440 | +€70,446 | +84.9% |
| Financial charges | 65/66B | €122,223 | €92,098 | -€30,125 | -24.6% |
| Recurring financial charges | 65 | €122,223 | €92,098 | -€30,125 | -24.6% |
| Profit (loss) for the period before taxes | 9903 | €370,213 | €112,036 | -€258,177 | -69.7% |
| Income taxes | 67/77 | €100,324 | €28,614 | -€71,711 | -71.5% |
| Profit (loss) for the period | 9904 | €269,888 | €83,422 | -€186,466 | -69.1% |
| Profit (loss) for the period to be appropriated | 9905 | €269,888 | €83,422 | -€186,466 | -69.1% |
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.