Dr. S. DESMET: 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.
Dr. S. DESMET
Largest movements
- Cash +€95,733
up €95,733 (+252%), from €38,007 to €133,739
mainly Net result for the year (+€79,132) and Depreciation (+€31,240)
- Intangible fixed assets -€30,000
down €30,000 (-12.6%), from €238,521 to €208,521
- Deferred charges and accrued income +€7,019
up €7,019 (+10.9%), from €64,648 to €71,666
- Reserves +€79,132
up €79,132 (+46.7%), from €169,307 to €248,439
- Other debts -€15,567
down €15,567 (-11.0%), from €141,587 to €126,020
- Trade debts +€8,352
up €8,352 (+59.5%), from €14,038 to €22,390
- Tax, wage and social debts +€4,347
up €4,347 (+27.1%), from €16,055 to €20,402
- Gross operating margin +€29,163
up €29,163 (+28.2%), from €103,587 to €132,750
- Taxes +€4,347
up €4,347 (+27.1%), from €16,055 to €20,402
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 | €343,486 | €419,750 | +€76,264 | +22.2% |
| Fixed assets | 21/28 | €240,492 | €214,004 | -€26,487 | -11.0% |
| Intangible fixed assets | 21 | €238,521 | €208,521 | -€30,000 | -12.6% |
| Tangible fixed assets | 22/27 | €1,971 | €5,484 | +€3,513 | +178% |
| Plant, machinery and equipment | 23 | - | €2,345 | +€2,345 | |
| Furniture and vehicles | 24 | €1,971 | €3,139 | +€1,168 | +59.2% |
| Current assets | 29/58 | €102,995 | €205,746 | +€102,751 | +99.8% |
| Amounts receivable within one year | 40/41 | €340 | €340 | = | 0.0% |
| Trade receivables | 40 | €340 | €340 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €38,007 | €133,739 | +€95,733 | +252% |
| Deferred charges and accrued income | 490/1 | €64,648 | €71,666 | +€7,019 | +10.9% |
| Total equity and liabilities | 10/49 | €343,486 | €419,750 | +€76,264 | +22.2% |
| Equity | 10/15 | €171,807 | €250,939 | +€79,132 | +46.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €169,307 | €248,439 | +€79,132 | +46.7% |
| Distributable reserves | 133 | €169,307 | €248,439 | +€79,132 | +46.7% |
| Amounts payable | 17/49 | €171,679 | €168,811 | -€2,868 | -1.7% |
| Amounts payable within one year | 42/48 | €171,679 | €168,811 | -€2,868 | -1.7% |
| Trade debts | 44 | €14,038 | €22,390 | +€8,352 | +59.5% |
| Suppliers | 440/4 | €14,038 | €22,390 | +€8,352 | +59.5% |
| Taxes, remuneration and social security | 45 | €16,055 | €20,402 | +€4,347 | +27.1% |
| Taxes | 450/3 | €16,055 | €20,402 | +€4,347 | +27.1% |
| Other amounts payable | 47/48 | €141,587 | €126,020 | -€15,567 | -11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,337 | €31,240 | +€904 | +3.0% |
| Other operating charges | 640/8 | €2,182 | €1,903 | -€280 | -12.8% |
| Gross operating margin | 9900 | €103,587 | €132,750 | +€29,163 | +28.2% |
| Operating profit (loss) | 9901 | €71,068 | €99,607 | +€28,540 | +40.2% |
| Financial charges | 65/66B | €47 | €74 | +€27 | +59.1% |
| Recurring financial charges | 65 | €47 | €74 | +€27 | +59.1% |
| Profit (loss) for the period before taxes | 9903 | €71,021 | €99,533 | +€28,512 | +40.1% |
| Income taxes | 67/77 | €16,055 | €20,402 | +€4,347 | +27.1% |
| Profit (loss) for the period | 9904 | €54,967 | €79,132 | +€24,165 | +44.0% |
| Profit (loss) for the period to be appropriated | 9905 | €54,967 | €79,132 | +€24,165 | +44.0% |
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 25 October 2026 via checked.be.