DISENSO: 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.
DISENSO
Largest movements
- Tangible fixed assets +€158,594
up €158,594 (+20.6%), from €769,351 to €927,944
of which Land and buildings: +€189,903
- Receivables within one year -€67,154
down €67,154 (-37.9%), from €177,419 to €110,264
of which Trade receivables: -€68,857
- Stocks and contracts +€27,596
up €27,596 (+9.1%), from €304,783 to €332,379
- Cash +€20,143
up €20,143 (+41.9%), from €48,021 to €68,164
mainly Debts after one year (+€164,772) and Depreciation (+€78,413)
- Debts after one year +€164,772
up €164,772 (+47.6%), from €345,834 to €510,606
- Trade debts -€103,674
down €103,674 (-55.1%), from €188,315 to €84,641
- Short-term financial debts +€39,984
up €39,984 (+782.7%), from €5,108 to €45,092
- Advances received +€23,920
up €23,920 (+43.6%), from €54,880 to €78,800
- Depreciation +€20,954
up €20,954 (+36.5%), from €57,459 to €78,413
- Taxes -€7,225
down €7,225 (-52.7%), from €13,701 to €6,476
- Other operating charges -€4,293
down €4,293 (-40.2%), from €10,683 to €6,390
- Staff costs +€3,895
up €3,895 (+4.2%), from €93,658 to €97,553
- Gross operating margin -€3,885
down €3,885 (-1.6%), from €239,802 to €235,918
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,304,152 | €1,442,687 | +€138,535 | +10.6% |
| Fixed assets | 21/28 | €769,351 | €927,944 | +€158,594 | +20.6% |
| Tangible fixed assets | 22/27 | €769,351 | €927,944 | +€158,594 | +20.6% |
| Land and buildings | 22 | €698,662 | €888,565 | +€189,903 | +27.2% |
| Plant, machinery and equipment | 23 | €26,844 | €17,604 | -€9,240 | -34.4% |
| Furniture and vehicles | 24 | €43,844 | €21,775 | -€22,069 | -50.3% |
| Current assets | 29/58 | €534,801 | €514,743 | -€20,059 | -3.8% |
| Stocks and contracts in progress | 3 | €304,783 | €332,379 | +€27,596 | +9.1% |
| Stocks | 30/36 | €304,783 | €332,379 | +€27,596 | +9.1% |
| Amounts receivable within one year | 40/41 | €177,419 | €110,264 | -€67,154 | -37.9% |
| Trade receivables | 40 | €169,239 | €100,383 | -€68,857 | -40.7% |
| Other amounts receivable | 41 | €8,179 | €9,882 | +€1,702 | +20.8% |
| Cash at bank and in hand | 54/58 | €48,021 | €68,164 | +€20,143 | +41.9% |
| Deferred charges and accrued income | 490/1 | €4,579 | €3,935 | -€644 | -14.1% |
| Total equity and liabilities | 10/49 | €1,304,152 | €1,442,687 | +€138,535 | +10.6% |
| Equity | 10/15 | €288,691 | €302,911 | +€14,220 | +4.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €268,691 | €282,911 | +€14,220 | +5.3% |
| Distributable reserves | 133 | €268,691 | €282,911 | +€14,220 | +5.3% |
| Amounts payable | 17/49 | €1,015,461 | €1,139,776 | +€124,315 | +12.2% |
| Amounts payable after more than one year | 17 | €345,834 | €510,606 | +€164,772 | +47.6% |
| Financial debts | 170/4 | €345,834 | €510,606 | +€164,772 | +47.6% |
| Amounts payable within one year | 42/48 | €667,101 | €627,894 | -€39,207 | -5.9% |
| Current portion of amounts payable after more than one year | 42 | €51,664 | €41,834 | -€9,830 | -19.0% |
| Financial debts | 43 | €5,108 | €45,092 | +€39,984 | +782.7% |
| Credit institutions | 430/8 | €5,108 | €45,092 | +€39,984 | +782.7% |
| Trade debts | 44 | €188,315 | €84,641 | -€103,674 | -55.1% |
| Suppliers | 440/4 | €188,315 | €84,641 | -€103,674 | -55.1% |
| Advances received on contracts in progress | 46 | €54,880 | €78,800 | +€23,920 | +43.6% |
| Taxes, remuneration and social security | 45 | €22,271 | €28,825 | +€6,554 | +29.4% |
| Taxes | 450/3 | €10,576 | €19,475 | +€8,898 | +84.1% |
| Remuneration and social security | 454/9 | €11,694 | €9,350 | -€2,344 | -20.0% |
| Other amounts payable | 47/48 | €344,863 | €348,702 | +€3,838 | +1.1% |
| Accrued charges and deferred income | 492/3 | €2,527 | €1,276 | -€1,251 | -49.5% |
| Remuneration, social security and pensions | 62 | €93,658 | €97,553 | +€3,895 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,459 | €78,413 | +€20,954 | +36.5% |
| Other operating charges | 640/8 | €10,683 | €6,390 | -€4,293 | -40.2% |
| Gross operating margin | 9900 | €239,802 | €235,918 | -€3,885 | -1.6% |
| Operating profit (loss) | 9901 | €78,002 | €53,561 | -€24,441 | -31.3% |
| Financial income | 75/76B | €3,357 | €2,047 | -€1,309 | -39.0% |
| Recurring financial income | 75 | €3,357 | €2,047 | -€1,309 | -39.0% |
| Financial charges | 65/66B | €35,971 | €34,913 | -€1,059 | -2.9% |
| Recurring financial charges | 65 | €35,971 | €34,913 | -€1,059 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | €45,388 | €20,696 | -€24,692 | -54.4% |
| Income taxes | 67/77 | €13,701 | €6,476 | -€7,225 | -52.7% |
| Profit (loss) for the period | 9904 | €31,687 | €14,220 | -€17,466 | -55.1% |
| Profit (loss) for the period to be appropriated | 9905 | €31,687 | €14,220 | -€17,466 | -55.1% |
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 8 October 2026 via checked.be.