DESUTTER MARC KOELTECHNIEK: 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.
DESUTTER MARC KOELTECHNIEK
Largest movements
- Current investments +€2.3m
new in 2025: €2.3m
- Tangible fixed assets +€1.2m
up €1.2m (+29.6%), from €4.2m to €5.4m
of which Plant, machinery and equipment: +€1.3m
- Receivables within one year +€308,770
up €308,770 (+193%), from €159,584 to €468,354
of which Other amounts receivable: +€287,375
- Reserves +€3.7m
up €3.7m (+125%), from €2.9m to €6.6m
of which Distributable reserves: +€3.4m
- Tax, wage and social debts +€328,692
up €328,692 (+468%), from €70,184 to €398,877
of which Taxes: +€328,467
- Accrued charges and deferred income -€206,931
down €206,931 (-24.9%), from €832,566 to €625,635
- Financial income +€4.0m
up €4.0m (+38,674%), from €10,453 to €4.1m
- Taxes +€312,253
up €312,253 (+175%), from €178,871 to €491,124
- Gross operating margin -€58,152
down €58,152 (-5.4%), from €1.1m to €1.0m
- Other operating charges +€30,796
up €30,796 (+68.6%), from €44,900 to €75,696
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 | €6,001,505 | €9,805,090 | +€3.8m | +63.4% |
| Fixed assets | 21/28 | €4,882,781 | €6,111,417 | +€1.2m | +25.2% |
| Tangible fixed assets | 22/27 | €4,154,511 | €5,383,147 | +€1.2m | +29.6% |
| Land and buildings | 22 | €2,092,226 | €1,981,115 | -€111,111 | -5.3% |
| Plant, machinery and equipment | 23 | €1,962,268 | €3,309,828 | +€1.3m | +68.7% |
| Furniture and vehicles | 24 | €100,017 | €92,204 | -€7,813 | -7.8% |
| Financial fixed assets | 28 | €728,270 | €728,270 | = | 0.0% |
| Current assets | 29/58 | €1,118,724 | €3,693,673 | +€2.6m | +230% |
| Amounts receivable after more than one year | 29 | €810,999 | €719,475 | -€91,525 | -11.3% |
| Other amounts receivable | 291 | €810,999 | €719,475 | -€91,525 | -11.3% |
| Amounts receivable within one year | 40/41 | €159,584 | €468,354 | +€308,770 | +193% |
| Trade receivables | 40 | €64,060 | €85,455 | +€21,395 | +33.4% |
| Other amounts receivable | 41 | €95,524 | €382,899 | +€287,375 | +301% |
| Current investments | 50/53 | - | €2,316,580 | +€2.3m | |
| Cash at bank and in hand | 54/58 | €144,559 | €185,647 | +€41,088 | +28.4% |
| Deferred charges and accrued income | 490/1 | €3,581 | €3,618 | +€36 | +1.0% |
| Total equity and liabilities | 10/49 | €6,001,505 | €9,805,090 | +€3.8m | +63.4% |
| Equity | 10/15 | €5,027,658 | €8,684,294 | +€3.7m | +72.7% |
| Contributions | 10/11 | €2,100,000 | €2,100,000 | = | 0.0% |
| Reserves | 13 | €2,927,658 | €6,584,294 | +€3.7m | +125% |
| Tax-exempt reserves | 132 | €213,475 | €423,975 | +€210,500 | +98.6% |
| Distributable reserves | 133 | €2,714,183 | €6,160,320 | +€3.4m | +127% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €973,847 | €1,120,796 | +€146,949 | +15.1% |
| Amounts payable within one year | 42/48 | €141,281 | €495,160 | +€353,880 | +250% |
| Trade debts | 44 | €21,097 | €46,284 | +€25,187 | +119% |
| Suppliers | 440/4 | €21,097 | €46,284 | +€25,187 | +119% |
| Taxes, remuneration and social security | 45 | €70,184 | €398,877 | +€328,692 | +468% |
| Taxes | 450/3 | €61,427 | €389,894 | +€328,467 | +535% |
| Remuneration and social security | 454/9 | €8,757 | €8,983 | +€225 | +2.6% |
| Other amounts payable | 47/48 | €50,000 | €50,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €832,566 | €625,635 | -€206,931 | -24.9% |
| Non-recurring operating income | 76A | €250 | €0 | -€250 | -100% |
| Remuneration, social security and pensions | 62 | €32,079 | €33,424 | +€1,344 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €372,730 | €380,814 | +€8,084 | +2.2% |
| Other operating charges | 640/8 | €44,900 | €75,696 | +€30,796 | +68.6% |
| Gross operating margin | 9900 | €1,074,170 | €1,016,019 | -€58,152 | -5.4% |
| Operating profit (loss) | 9901 | €624,461 | €526,085 | -€98,376 | -15.8% |
| Financial income | 75/76B | €10,453 | €4,052,970 | +€4.0m | +38,674% |
| Recurring financial income | 75 | €10,453 | €4,052,970 | +€4.0m | +38,674% |
| Financial charges | 65/66B | €399 | €1,212 | +€813 | +204% |
| Recurring financial charges | 65 | €399 | €1,212 | +€813 | +204% |
| Profit (loss) for the period before taxes | 9903 | €634,514 | €4,577,842 | +€3.9m | +621% |
| Income taxes | 67/77 | €178,871 | €491,124 | +€312,253 | +175% |
| Profit (loss) for the period | 9904 | €455,643 | €4,086,718 | +€3.6m | +797% |
| Transfer to tax-exempt reserves | 689 | €210,500 | €210,500 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €245,143 | €3,876,218 | +€3.6m | +1,481% |
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 15 October 2026 via checked.be.