DIRESCO: 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
DIRESCO
NACE 23.610, Manufacture of other non-metallic mineral products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€2.0m
2024 · -€4.0m+€2.0m
Equity
€1.6m
2024 · €3.6m-€2.1m
Cash
€382,088
2024 · €2.6m-€2.2m
Balance sheet total
€12.9m
2024 · €16.3m-€3.3m
Largest movements
Assets
- Cash -€2.2m
down €2.2m (-85.2%), from €2.6m to €382,088
mainly Net result for the year (-€2.0m) and Trade debts (-€878,057)
- Receivables within one year -€852,690
down €852,690 (-50.5%), from €1.7m to €836,719
of which Trade receivables: -€579,484
- Tangible fixed assets -€562,356
down €562,356 (-11.8%), from €4.8m to €4.2m
of which Assets under construction and advance payments: -€993,063
- Stocks and contracts +€379,014
up €379,014 (+5.9%), from €6.5m to €6.8m
Equity and liabilities
- Profit (loss) carried forward -€2.0m
down €2.0m (-50.6%), from -€4.0m to -€6.0m
- Trade debts -€878,057
down €878,057 (-41.4%), from €2.1m to €1.2m
- Debts after one year -€256,669
down €256,669 (-7.9%), from €3.2m to €3.0m
- Short-term financial debts +€190,000
up €190,000 (+4.0%), from €4.8m to €5.0m
Income statement
- Turnover -€1.8m
down €1.8m (-16.4%), from €10.9m to €9.1m
- Write-downs -€1.6m
down €1.6m, from €1.4m to -€227,002
- Services and other goods -€730,225
down €730,225 (-15.5%), from €4.7m to €4.0m
- Staff costs -€288,734
down €288,734 (-9.1%), from €3.2m to €2.9m
- Goods and materials -€211,138
down €211,138 (-6.0%), from €3.5m to €3.3m
of which Purchases: -€225,232
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
-€4.0m
Turnover
-€1.8m
Other operating income
-€35,538
Goods and materials
+€211,138
Services and other goods
+€730,225
Staff costs
+€288,734
Depreciation
-€51,002
Write-downs
+€1.6m
Other operating charges
+€31,567
Other operating items
+€907,405
Financial income
+€30,704
Financial charges
+€12,302
Taxes
+€1,786
Result 2025
-€2.0m
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
-€1.6m
Investment
-€423,478
Financing
-€193,583
Cash 2024
€2.6m
From operations (derived)
-€1.6m
Net result for the year
-€2.0m
Depreciation
+€1.1m
Stocks and contracts
-€379,014
Receivables within one year
+€852,690
Deferred charges and accrued income
-€15,005
Trade debts
-€878,057
Tax, wage and social debts
-€100,940
Other debts
-€64,600
Accrued charges and deferred income
-€71,768
Investment (derived)
-€423,478
Investment in fixed assets (net)
-€423,478
Financing
-€193,583
Debts after one year
-€256,669
Current portion of long-term debt
-€75,567
Short-term financial debts
+€190,000
Contributions, distributions and other
-€51,347
Cash 2025
€382,088
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,258,221 | €12,945,985 | -€3.3m | -20.4% |
| Fixed assets | 21/28 | €5,428,264 | €4,775,515 | -€652,748 | -12.0% |
| Intangible fixed assets | 21 | €674,798 | €584,406 | -€90,392 | -13.4% |
| Tangible fixed assets | 22/27 | €4,752,932 | €4,190,576 | -€562,356 | -11.8% |
| Land and buildings | 22 | €935,583 | €721,818 | -€213,764 | -22.8% |
| Plant, machinery and equipment | 23 | €2,686,688 | €3,406,073 | +€719,385 | +26.8% |
| Furniture and vehicles | 24 | €137,599 | €62,685 | -€74,914 | -54.4% |
| Assets under construction and advance payments | 27 | €993,063 | - | -€993,063 | |
| Financial fixed assets | 28 | €533 | €533 | = | 0.0% |
| Other financial fixed assets | 284/8 | €533 | €533 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €533 | €533 | = | 0.0% |
| Current assets | 29/58 | €10,829,958 | €8,170,470 | -€2.7m | -24.6% |
| Stocks and contracts in progress | 3 | €6,468,942 | €6,847,957 | +€379,014 | +5.9% |
| Stocks | 30/36 | €6,468,942 | €6,847,957 | +€379,014 | +5.9% |
| Raw materials and consumables | 30/31 | €1,518,704 | €1,478,544 | -€40,160 | -2.6% |
| Work in progress | 32 | €85,094 | €272,797 | +€187,702 | +220.6% |
| Finished goods | 33 | €4,865,143 | €5,096,616 | +€231,473 | +4.8% |
| Amounts receivable within one year | 40/41 | €1,689,409 | €836,719 | -€852,690 | -50.5% |
| Trade receivables | 40 | €1,301,772 | €722,287 | -€579,484 | -44.5% |
| Other amounts receivable | 41 | €387,638 | €114,432 | -€273,206 | -70.5% |
| Cash at bank and in hand | 54/58 | €2,582,905 | €382,088 | -€2.2m | -85.2% |
| Deferred charges and accrued income | 490/1 | €88,702 | €103,706 | +€15,005 | +16.9% |
| Total equity and liabilities | 10/49 | €16,258,221 | €12,945,985 | -€3.3m | -20.4% |
| Equity | 10/15 | €3,613,772 | €1,559,138 | -€2.1m | -56.9% |
| Contributions | 10/11 | €5,625,000 | €5,625,000 | = | 0.0% |
| Capital | 10 | €5,625,000 | €5,625,000 | = | 0.0% |
| Issued capital | 100 | €5,625,000 | €5,625,000 | = | 0.0% |
| Reserves | 13 | €1,520,093 | €1,520,093 | = | 0.0% |
| Non-distributable reserves | 130/1 | €562,500 | €562,500 | = | 0.0% |
| Legal reserve | 130 | €562,500 | €562,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,592 | €18,592 | = | 0.0% |
| Distributable reserves | 133 | €939,001 | €939,001 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,955,305 | -€5,958,593 | -€2.0m | -50.6% |
| Investment grants | 15 | €423,984 | €372,638 | -€51,347 | -12.1% |
| Amounts payable | 17/49 | €12,644,449 | €11,386,848 | -€1.3m | -9.9% |
| Amounts payable after more than one year | 17 | €3,236,801 | €2,980,131 | -€256,669 | -7.9% |
| Financial debts | 170/4 | €3,236,801 | €2,980,131 | -€256,669 | -7.9% |
| Credit institutions | 173 | €1,736,801 | €1,480,131 | -€256,669 | -14.8% |
| Other loans | 174 | €1,500,000 | €1,500,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €9,317,648 | €8,388,484 | -€929,164 | -10.0% |
| Current portion of amounts payable after more than one year | 42 | €332,236 | €256,669 | -€75,567 | -22.7% |
| Financial debts | 43 | €4,780,000 | €4,970,000 | +€190,000 | +4.0% |
| Credit institutions | 430/8 | €4,780,000 | €4,970,000 | +€190,000 | +4.0% |
| Trade debts | 44 | €2,119,596 | €1,241,539 | -€878,057 | -41.4% |
| Suppliers | 440/4 | €2,119,596 | €1,241,539 | -€878,057 | -41.4% |
| Taxes, remuneration and social security | 45 | €656,673 | €555,732 | -€100,940 | -15.4% |
| Taxes | 450/3 | €122,808 | €45,101 | -€77,707 | -63.3% |
| Remuneration and social security | 454/9 | €533,864 | €510,631 | -€23,233 | -4.4% |
| Other amounts payable | 47/48 | €1,429,143 | €1,364,543 | -€64,600 | -4.5% |
| Accrued charges and deferred income | 492/3 | €90,000 | €18,232 | -€71,768 | -79.7% |
| Operating income | 70/76A | €10,639,300 | €9,589,249 | -€1.1m | -9.9% |
| Turnover | 70 | €10,908,309 | €9,124,488 | -€1.8m | -16.4% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€655,884 | €191,189 | +€847,073 | |
| Own construction capitalised | 72 | €254,302 | €103,473 | -€150,830 | -59.3% |
| Other operating income | 74 | €113,572 | €78,033 | -€35,538 | -31.3% |
| Non-recurring operating income | 76A | €19,000 | €92,066 | +€73,066 | +384.6% |
| Operating charges | 60/66A | €14,051,952 | €11,094,676 | -€3.0m | -21.0% |
| Goods for resale, raw materials and consumables | 60 | €3,510,052 | €3,298,914 | -€211,138 | -6.0% |
| Purchases | 600/8 | €3,483,985 | €3,258,754 | -€225,232 | -6.5% |
| Change in stocks: decrease (increase) | 609 | €26,067 | €40,160 | +€14,094 | +54.1% |
| Services and other goods | 61 | €4,706,600 | €3,976,375 | -€730,225 | -15.5% |
| Remuneration, social security and pensions | 62 | €3,172,016 | €2,883,282 | -€288,734 | -9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,025,224 | €1,076,226 | +€51,002 | +5.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,381,515 | -€227,002 | -€1.6m | |
| Other operating charges | 640/8 | €114,006 | €82,439 | -€31,567 | -27.7% |
| Non-recurring operating charges | 66A | €142,539 | €4,443 | -€138,096 | -96.9% |
| Operating profit (loss) | 9901 | -€3,412,652 | -€1,505,427 | +€1.9m | +55.9% |
| Financial income | 75/76B | €20,823 | €51,527 | +€30,704 | +147.5% |
| Recurring financial income | 75 | €20,823 | €51,527 | +€30,704 | +147.5% |
| Income from current assets | 751 | €146 | €139 | -€8 | -5.3% |
| Other financial income | 752/9 | €20,676 | €51,388 | +€30,712 | +148.5% |
| Financial charges | 65/66B | €559,713 | €547,412 | -€12,302 | -2.2% |
| Recurring financial charges | 65 | €559,713 | €547,412 | -€12,302 | -2.2% |
| Debt charges | 650 | €445,348 | €432,493 | -€12,854 | -2.9% |
| Other financial charges | 652/9 | €114,366 | €114,918 | +€552 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | -€3,951,543 | -€2,001,312 | +€2.0m | +49.4% |
| Income taxes | 67/77 | €3,762 | €1,976 | -€1,786 | -47.5% |
| Taxes | 670/3 | €3,762 | €1,976 | -€1,786 | -47.5% |
| Profit (loss) for the period | 9904 | -€3,955,305 | -€2,003,288 | +€2.0m | +49.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,955,305 | -€2,003,288 | +€2.0m | +49.4% |
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.