deSter: 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.
What changed
deSter
NACE 22.260, Manufacture of rubber and plastic products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€590,761
2024 · €565,241-€1.2m
Equity
€22.2m
2024 · €22.7m-€590,761
Cash
€2.2m
2024 · €714,919+€1.5m
Balance sheet total
€60.9m
2024 · €59.9m+€960,149
Largest movements
Assets
- Tangible fixed assets +€2.4m
up €2.4m (+27.2%), from €8.7m to €11.1m
of which Assets under construction and advance payments: +€2.0m
- Receivables within one year -€1.9m
down €1.9m (-8.6%), from €21.8m to €19.9m
of which Trade receivables: -€3.2m
- Cash +€1.5m
up €1.5m (+206.0%), from €714,919 to €2.2m
mainly Short-term financial debts (+€5.4m) and Debts after one year (+€3.4m)
- Stocks and contracts -€895,320
down €895,320 (-3.6%), from €24.8m to €23.9m
Equity and liabilities
- Reserves -€16.9m
down €16.9m (-91.6%), from €18.4m to €1.5m
of which Tax-exempt reserves: -€16.9m
- Profit (loss) carried forward +€16.3m
up €16.3m (+89.1%), from -€18.3m to -€2.0m
- Provisions -€5.6m
down €5.6m (-98.1%), from €5.7m to €106,410
of which Deferred taxes: -€5.6m
- Short-term financial debts +€5.4m
up €5.4m (+140.3%), from €3.9m to €9.3m
- Debts after one year +€3.4m
up €3.4m (+373.1%), from €900,318 to €4.3m
Income statement
- Goods and materials -€10.6m
down €10.6m (-13.6%), from €77.6m to €67.0m
of which Purchases: -€10.2m
- Turnover -€7.5m
down €7.5m (-6.1%), from €124.1m to €116.5m
- Other operating income -€1.5m
down €1.5m (-17.0%), from €8.6m to €7.2m
- Taxes +€1.4m
up €1.4m (+2102.7%), from €66,348 to €1.5m
of which Taxes: +€1.4m
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.
Result 2024
€565,241
Turnover
-€7.5m
Other operating income
-€1.5m
Goods and materials
+€10.6m
Services and other goods
-€681,014
Staff costs
-€830,315
Depreciation
+€97,261
Write-downs
-€827,010
Provisions
-€4,143
Other operating charges
-€370
Other operating items
-€4.1m
Financial income
+€189,928
Financial charges
-€510,411
Taxes
-€1.4m
Deferred taxes and other
+€5.3m
Result 2025
-€590,761
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.
From operations
-€2.4m
Investment
-€4.9m
Financing
+€8.8m
Cash 2024
€714,919
From operations (derived)
-€2.4m
Net result for the year
-€590,761
Depreciation
+€2.5m
Stocks and contracts
+€895,320
Receivables within one year
+€1.9m
Deferred charges and accrued income
+€138,626
Provisions
-€5.6m
Trade debts
-€1.0m
Tax, wage and social debts
+€1.2m
Advances received
-€1.3m
Accrued charges and deferred income
-€535,706
Investment (derived)
-€4.9m
Investment in fixed assets (net)
-€4.9m
Financing
+€8.8m
Debts after one year
+€3.4m
Current portion of long-term debt
+€25,988
Short-term financial debts
+€5.4m
Cash 2025
€2.2m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €59,901,564 | €60,861,713 | +€960,149 | +1.6% |
| Fixed assets | 21/28 | €10,762,337 | €13,160,209 | +€2.4m | +22.3% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €8,684,827 | €11,051,188 | +€2.4m | +27.2% |
| Land and buildings | 22 | €0 | €0 | = | |
| Plant, machinery and equipment | 23 | €7,267,122 | €7,426,540 | +€159,418 | +2.2% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Leasing and similar rights | 25 | - | €75,326 | +€75,326 | |
| Other tangible fixed assets | 26 | - | €102,297 | +€102,297 | |
| Assets under construction and advance payments | 27 | €1,417,705 | €3,447,025 | +€2.0m | +143.1% |
| Financial fixed assets | 28 | €2,077,510 | €2,109,021 | +€31,510 | +1.5% |
| Other financial fixed assets | 284/8 | €2,077,510 | €2,109,021 | +€31,510 | +1.5% |
| Amounts receivable and cash guarantees | 285/8 | €2,077,510 | €2,109,021 | +€31,510 | +1.5% |
| Current assets | 29/58 | €49,139,227 | €47,701,503 | -€1.4m | -2.9% |
| Stocks and contracts in progress | 3 | €24,844,688 | €23,949,369 | -€895,320 | -3.6% |
| Stocks | 30/36 | €24,844,688 | €23,949,369 | -€895,320 | -3.6% |
| Raw materials and consumables | 30/31 | €4,016,143 | €3,935,145 | -€80,999 | -2.0% |
| Work in progress | 32 | €1,280,549 | €1,408,583 | +€128,034 | +10.0% |
| Finished goods | 33 | €17,439,879 | €16,484,953 | -€954,926 | -5.5% |
| Goods purchased for resale | 34 | €2,108,117 | €2,120,689 | +€12,572 | +0.6% |
| Property held for sale | 35 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €21,787,825 | €19,911,371 | -€1.9m | -8.6% |
| Trade receivables | 40 | €20,870,379 | €17,650,536 | -€3.2m | -15.4% |
| Other amounts receivable | 41 | €917,446 | €2,260,834 | +€1.3m | +146.4% |
| Cash at bank and in hand | 54/58 | €714,919 | €2,187,596 | +€1.5m | +206.0% |
| Deferred charges and accrued income | 490/1 | €1,791,794 | €1,653,168 | -€138,626 | -7.7% |
| Total equity and liabilities | 10/49 | €59,901,564 | €60,861,713 | +€960,149 | +1.6% |
| Equity | 10/15 | €22,742,611 | €22,151,850 | -€590,761 | -2.6% |
| Contributions | 10/11 | €22,600,000 | €22,600,000 | = | 0.0% |
| Reserves | 13 | €18,410,714 | €1,538,074 | -€16.9m | -91.6% |
| Non-distributable reserves | 130/1 | €1,405,918 | €1,405,918 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,405,918 | €1,405,918 | = | 0.0% |
| Tax-exempt reserves | 132 | €17,004,797 | €132,156 | -€16.9m | -99.2% |
| Distributable reserves | 133 | €0 | €0 | = | |
| Profit (loss) carried forward | 14 | -€18,268,103 | -€1,986,224 | +€16.3m | +89.1% |
| Investment grants | 15 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €5,704,213 | €106,410 | -€5.6m | -98.1% |
| Provisions for liabilities and charges | 160/5 | €80,000 | €106,410 | +€26,410 | +33.0% |
| Taxes | 161 | €0 | €0 | = | |
| Environmental obligations | 163 | €0 | €0 | = | |
| Other liabilities and charges | 164/5 | €80,000 | €106,410 | +€26,410 | +33.0% |
| Deferred taxes | 168 | €5,624,213 | - | -€5.6m | |
| Amounts payable | 17/49 | €31,454,739 | €38,603,452 | +€7.1m | +22.7% |
| Amounts payable after more than one year | 17 | €900,318 | €4,259,128 | +€3.4m | +373.1% |
| Financial debts | 170/4 | €900,318 | €4,259,128 | +€3.4m | +373.1% |
| Leasing and similar obligations | 172 | €0 | €49,338 | +€49,338 | |
| Other loans | 174 | €900,318 | €4,209,790 | +€3.3m | +367.6% |
| Amounts payable within one year | 42/48 | €28,589,418 | €32,915,027 | +€4.3m | +15.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | €25,988 | +€25,988 | |
| Financial debts | 43 | €3,866,332 | €9,289,729 | +€5.4m | +140.3% |
| Other loans | 439 | €3,866,332 | €9,289,729 | +€5.4m | +140.3% |
| Trade debts | 44 | €18,464,544 | €17,417,510 | -€1.0m | -5.7% |
| Suppliers | 440/4 | €18,464,544 | €17,417,510 | -€1.0m | -5.7% |
| Advances received on contracts in progress | 46 | €1,295,530 | - | -€1.3m | |
| Taxes, remuneration and social security | 45 | €4,963,012 | €6,181,799 | +€1.2m | +24.6% |
| Taxes | 450/3 | €740,184 | €2,161,555 | +€1.4m | +192.0% |
| Remuneration and social security | 454/9 | €4,222,828 | €4,020,244 | -€202,584 | -4.8% |
| Accrued charges and deferred income | 492/3 | €1,965,003 | €1,429,297 | -€535,706 | -27.3% |
| Operating income | 70/76A | €135,196,959 | €122,558,117 | -€12.6m | -9.3% |
| Turnover | 70 | €124,063,235 | €116,544,852 | -€7.5m | -6.1% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €2,470,971 | -€1,172,990 | -€3.6m | |
| Other operating income | 74 | €8,630,454 | €7,160,666 | -€1.5m | -17.0% |
| Non-recurring operating income | 76A | €32,300 | €25,590 | -€6,710 | -20.8% |
| Operating charges | 60/66A | €134,477,930 | €126,616,382 | -€7.9m | -5.8% |
| Goods for resale, raw materials and consumables | 60 | €77,609,948 | €67,038,274 | -€10.6m | -13.6% |
| Purchases | 600/8 | €77,119,231 | €66,917,994 | -€10.2m | -13.2% |
| Change in stocks: decrease (increase) | 609 | €490,718 | €120,280 | -€370,438 | -75.5% |
| Services and other goods | 61 | €28,738,066 | €29,419,080 | +€681,014 | +2.4% |
| Remuneration, social security and pensions | 62 | €26,193,861 | €27,024,176 | +€830,315 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,598,710 | €2,501,449 | -€97,261 | -3.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€1,235,675 | -€408,664 | +€827,010 | +66.9% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €47,857 | €52,000 | +€4,143 | +8.7% |
| Other operating charges | 640/8 | €525,161 | €525,531 | +€370 | +0.1% |
| Non-recurring operating charges | 66A | €0 | €464,536 | +€464,536 | |
| Operating profit (loss) | 9901 | €719,029 | -€4,058,265 | -€4.8m | |
| Financial income | 75/76B | €1,168,054 | €1,357,983 | +€189,928 | +16.3% |
| Recurring financial income | 75 | €1,168,054 | €1,357,983 | +€189,928 | +16.3% |
| Income from financial fixed assets | 750 | €65,920 | €45,015 | -€20,905 | -31.7% |
| Income from current assets | 751 | €93,220 | - | -€93,220 | |
| Other financial income | 752/9 | €1,008,914 | €1,312,968 | +€304,054 | +30.1% |
| Financial charges | 65/66B | €1,542,828 | €2,053,239 | +€510,411 | +33.1% |
| Recurring financial charges | 65 | €1,542,828 | €2,053,239 | +€510,411 | +33.1% |
| Debt charges | 650 | €465,947 | €533,494 | +€67,547 | +14.5% |
| Other financial charges | 652/9 | €1,076,881 | €1,519,745 | +€442,864 | +41.1% |
| Profit (loss) for the period before taxes | 9903 | €344,256 | -€4,753,521 | -€5.1m | |
| Transfer from deferred taxes | 780 | €287,334 | €5,624,213 | +€5.3m | +1857.4% |
| Income taxes | 67/77 | €66,348 | €1,461,453 | +€1.4m | +2102.7% |
| Taxes | 670/3 | €66,348 | €1,475,479 | +€1.4m | +2123.8% |
| Tax adjustments and reversals of tax provisions | 77 | €0 | €14,026 | +€14,026 | |
| Profit (loss) for the period | 9904 | €565,241 | -€590,761 | -€1.2m | |
| Transfer from tax-exempt reserves | 789 | €862,001 | €16,872,640 | +€16.0m | +1857.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,427,242 | €16,281,879 | +€14.9m | +1040.8% |
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 4 October 2026 via checked.be.