DESMET LUC: 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 LUC
Largest movements
- Tangible fixed assets +€156,880
up €156,880 (+8.6%), from €1.8m to €2.0m
of which Land and buildings: +€158,376
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Cash +€60,411
up €60,411 (+59.1%), from €102,296 to €162,706
mainly Net result for the year (+€206,941) and Debts after one year (+€116,953)
- Receivables within one year +€23,103
up €23,103 (+119%), from €19,483 to €42,586
of which Trade receivables: +€22,905
- Reserves +€205,275
up €205,275 (+14.0%), from €1.5m to €1.7m
of which Distributable reserves: +€211,424
- Other debts -€149,017
down €149,017 (-87.2%), from €170,985 to €21,968
- Debts after one year +€116,953
up €116,953 (+108%), from €107,860 to €224,813
- Trade debts +€28,515
up €28,515 (+803%), from €3,553 to €32,068
- Tax, wage and social debts -€24,895
down €24,895 (-59.5%), from €41,815 to €16,921
- Depreciation +€22,884
up €22,884 (+25.0%), from €91,717 to €114,600
- Financial charges -€20,170
down €20,170 (-77.5%), from €26,041 to €5,870
- Gross operating margin +€17,935
up €17,935 (+4.2%), from €430,041 to €447,976
- Financial income -€6,330
down €6,330 (-91.5%), from €6,920 to €590
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 | €2,065,609 | €2,197,790 | +€132,181 | +6.4% |
| Fixed assets | 21/28 | €1,831,060 | €1,987,940 | +€156,880 | +8.6% |
| Tangible fixed assets | 22/27 | €1,829,973 | €1,986,853 | +€156,880 | +8.6% |
| Land and buildings | 22 | €1,826,839 | €1,985,215 | +€158,376 | +8.7% |
| Plant, machinery and equipment | 23 | €3,134 | €1,639 | -€1,495 | -47.7% |
| Financial fixed assets | 28 | €1,087 | €1,087 | = | 0.0% |
| Current assets | 29/58 | €234,549 | €209,849 | -€24,699 | -10.5% |
| Amounts receivable within one year | 40/41 | €19,483 | €42,586 | +€23,103 | +119% |
| Trade receivables | 40 | €17,656 | €40,560 | +€22,905 | +130% |
| Other amounts receivable | 41 | €1,827 | €2,026 | +€199 | +10.9% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €102,296 | €162,706 | +€60,411 | +59.1% |
| Deferred charges and accrued income | 490/1 | €12,770 | €4,557 | -€8,213 | -64.3% |
| Total equity and liabilities | 10/49 | €2,065,609 | €2,197,790 | +€132,181 | +6.4% |
| Equity | 10/15 | €1,523,163 | €1,728,438 | +€205,275 | +13.5% |
| Contributions | 10/11 | €60,800 | €60,800 | = | 0.0% |
| Reserves | 13 | €1,462,363 | €1,667,638 | +€205,275 | +14.0% |
| Tax-exempt reserves | 132 | €219,122 | €212,973 | -€6,149 | -2.8% |
| Distributable reserves | 133 | €1,243,242 | €1,454,666 | +€211,424 | +17.0% |
| Provisions and deferred taxes | 16 | €66,791 | €64,741 | -€2,050 | -3.1% |
| Deferred taxes | 168 | €66,791 | €64,741 | -€2,050 | -3.1% |
| Amounts payable | 17/49 | €475,655 | €404,610 | -€71,044 | -14.9% |
| Amounts payable after more than one year | 17 | €107,860 | €224,813 | +€116,953 | +108% |
| Financial debts | 170/4 | €107,860 | €224,813 | +€116,953 | +108% |
| Amounts payable within one year | 42/48 | €342,494 | €173,752 | -€168,742 | -49.3% |
| Current portion of amounts payable after more than one year | 42 | €126,140 | €102,795 | -€23,345 | -18.5% |
| Trade debts | 44 | €3,553 | €32,068 | +€28,515 | +803% |
| Suppliers | 440/4 | €3,553 | €32,068 | +€28,515 | +803% |
| Taxes, remuneration and social security | 45 | €41,815 | €16,921 | -€24,895 | -59.5% |
| Taxes | 450/3 | €41,815 | €16,921 | -€24,895 | -59.5% |
| Other amounts payable | 47/48 | €170,985 | €21,968 | -€149,017 | -87.2% |
| Accrued charges and deferred income | 492/3 | €25,301 | €6,046 | -€19,255 | -76.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,717 | €114,600 | +€22,884 | +25.0% |
| Other operating charges | 640/8 | €29,850 | €31,357 | +€1,507 | +5.0% |
| Gross operating margin | 9900 | €430,041 | €447,976 | +€17,935 | +4.2% |
| Operating profit (loss) | 9901 | €308,474 | €302,018 | -€6,456 | -2.1% |
| Financial income | 75/76B | €6,920 | €590 | -€6,330 | -91.5% |
| Recurring financial income | 75 | €6,920 | €590 | -€6,330 | -91.5% |
| Financial charges | 65/66B | €26,041 | €5,870 | -€20,170 | -77.5% |
| Recurring financial charges | 65 | €26,041 | €5,870 | -€20,170 | -77.5% |
| Profit (loss) for the period before taxes | 9903 | €289,354 | €296,737 | +€7,384 | +2.6% |
| Transfer from deferred taxes | 780 | €2,050 | €2,050 | = | 0.0% |
| Income taxes | 67/77 | €89,898 | €91,846 | +€1,948 | +2.2% |
| Profit (loss) for the period | 9904 | €201,505 | €206,941 | +€5,436 | +2.7% |
| Transfer from tax-exempt reserves | 789 | €6,149 | €6,149 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €207,654 | €213,090 | +€5,436 | +2.6% |
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 25 October 2026 via checked.be.