DESPEGHEL & CO: 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.
DESPEGHEL & CO
Largest movements
- Receivables within one year +€583,753
up €583,753 (+58.0%), from €1.0m to €1.6m
of which Trade receivables: +€435,157
- Cash +€572,112
up €572,112 (+225%), from €253,820 to €825,932
mainly Trade debts (+€673,580) and Net result for the year (+€353,624)
- Tangible fixed assets -€170,517
down €170,517 (-31.7%), from €537,592 to €367,075
of which Leasing and similar rights: -€88,898
- Intangible fixed assets -€70,000
down €70,000 (-28.6%), from €244,712 to €174,713
- Reserves +€1.5m
up €1.5m (+2,353%), from €63,083 to €1.5m
of which Distributable reserves: +€1.5m
- Profit (loss) carried forward -€1.1m
down €1.1m (-100%), from €1.1m to €0
- Trade debts +€673,580
up €673,580 (+307%), from €219,583 to €893,162
- Debts after one year -€109,798
down €109,798 (-24.2%), from €452,921 to €343,123
- Current portion of long-term debt -€46,078
down €46,078 (-29.6%), from €155,876 to €109,798
- Staff costs -€45,510
down €45,510 (-12.1%), from €375,760 to €330,249
- Gross operating margin -€27,834
down €27,834 (-2.3%), from €1.2m to €1.2m
- Other operating charges +€16,568
up €16,568 (+14.9%), from €111,260 to €127,828
- Taxes +€15,065
up €15,065 (+14.9%), from €100,804 to €115,869
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 | €2,203,160 | €3,100,654 | +€897,494 | +40.7% |
| Fixed assets | 21/28 | €785,583 | €545,066 | -€240,517 | -30.6% |
| Intangible fixed assets | 21 | €244,712 | €174,713 | -€70,000 | -28.6% |
| Tangible fixed assets | 22/27 | €537,592 | €367,075 | -€170,517 | -31.7% |
| Furniture and vehicles | 24 | €366,706 | €285,087 | -€81,619 | -22.3% |
| Leasing and similar rights | 25 | €170,886 | €81,988 | -€88,898 | -52.0% |
| Financial fixed assets | 28 | €3,278 | €3,278 | = | 0.0% |
| Current assets | 29/58 | €1,417,577 | €2,555,588 | +€1.1m | +80.3% |
| Amounts receivable after more than one year | 29 | €120,000 | €105,000 | -€15,000 | -12.5% |
| Other amounts receivable | 291 | €120,000 | €105,000 | -€15,000 | -12.5% |
| Stocks and contracts in progress | 3 | €31,030 | €28,045 | -€2,985 | -9.6% |
| Stocks | 30/36 | €31,030 | €28,045 | -€2,985 | -9.6% |
| Amounts receivable within one year | 40/41 | €1,007,311 | €1,591,064 | +€583,753 | +58.0% |
| Trade receivables | 40 | €807,311 | €1,242,468 | +€435,157 | +53.9% |
| Other amounts receivable | 41 | €200,000 | €348,596 | +€148,596 | +74.3% |
| Cash at bank and in hand | 54/58 | €253,820 | €825,932 | +€572,112 | +225% |
| Deferred charges and accrued income | 490/1 | €5,415 | €5,547 | +€131 | +2.4% |
| Total equity and liabilities | 10/49 | €2,203,160 | €3,100,654 | +€897,494 | +40.7% |
| Equity | 10/15 | €1,297,283 | €1,649,007 | +€351,724 | +27.1% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €63,083 | €1,547,207 | +€1.5m | +2,353% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €53,083 | €53,083 | = | 0.0% |
| Distributable reserves | 133 | - | €1,484,123 | +€1.5m | |
| Profit (loss) carried forward | 14 | €1,130,500 | €0 | -€1.1m | -100% |
| Investment grants | 15 | €3,700 | €1,800 | -€1,900 | -51.4% |
| Amounts payable | 17/49 | €905,877 | €1,451,647 | +€545,770 | +60.2% |
| Amounts payable after more than one year | 17 | €452,921 | €343,123 | -€109,798 | -24.2% |
| Financial debts | 170/4 | €452,921 | €343,123 | -€109,798 | -24.2% |
| Amounts payable within one year | 42/48 | €452,956 | €1,108,524 | +€655,568 | +145% |
| Current portion of amounts payable after more than one year | 42 | €155,876 | €109,798 | -€46,078 | -29.6% |
| Trade debts | 44 | €219,583 | €893,162 | +€673,580 | +307% |
| Suppliers | 440/4 | €219,583 | €893,162 | +€673,580 | +307% |
| Taxes, remuneration and social security | 45 | €77,496 | €105,564 | +€28,068 | +36.2% |
| Taxes | 450/3 | €39,757 | €71,674 | +€31,916 | +80.3% |
| Remuneration and social security | 454/9 | €37,739 | €33,890 | -€3,848 | -10.2% |
| Other amounts payable | 47/48 | €1 | €0 | -€1 | -100% |
| Non-recurring operating income | 76A | €46,100 | €0 | -€46,100 | -100% |
| Remuneration, social security and pensions | 62 | €375,760 | €330,249 | -€45,510 | -12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €240,892 | €248,688 | +€7,796 | +3.2% |
| Other operating charges | 640/8 | €111,260 | €127,828 | +€16,568 | +14.9% |
| Gross operating margin | 9900 | €1,207,130 | €1,179,296 | -€27,834 | -2.3% |
| Operating profit (loss) | 9901 | €479,218 | €472,530 | -€6,688 | -1.4% |
| Financial income | 75/76B | €4,147 | €3,592 | -€555 | -13.4% |
| Recurring financial income | 75 | €4,147 | €3,592 | -€555 | -13.4% |
| Financial charges | 65/66B | €10,193 | €6,630 | -€3,563 | -35.0% |
| Recurring financial charges | 65 | €10,193 | €6,630 | -€3,563 | -35.0% |
| Profit (loss) for the period before taxes | 9903 | €473,173 | €469,493 | -€3,680 | -0.8% |
| Income taxes | 67/77 | €100,804 | €115,869 | +€15,065 | +14.9% |
| Profit (loss) for the period | 9904 | €372,369 | €353,624 | -€18,745 | -5.0% |
| Transfer to tax-exempt reserves | 689 | €46,000 | €0 | -€46,000 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €326,369 | €353,624 | +€27,255 | +8.4% |
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 28 October 2026 via checked.be.