ELS DESAIR: 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.
ELS DESAIR
Largest movements
- Receivables within one year +€45,516
up €45,516 (+64.2%), from €70,850 to €116,366
of which Trade receivables: +€44,868
- Receivables after one year +€42,471
up €42,471 (+87.2%), from €48,698 to €91,169
- Current investments +€37,786
up €37,786 (+35.0%), from €107,859 to €145,645
- Tangible fixed assets -€24,868
down €24,868 (-5.9%), from €421,592 to €396,724
of which Furniture and vehicles: -€15,244
- Cash -€14,371
down €14,371 (-9.7%), from €148,674 to €134,303
mainly Receivables within one year (-€45,516) and Receivables after one year (-€42,471)
- Reserves +€111,729
up €111,729 (+20.8%), from €538,110 to €649,840
of which Distributable reserves: +€111,729
- Debts after one year -€36,942
down €36,942 (-24.7%), from €149,617 to €112,675
- Tax, wage and social debts +€23,060
up €23,060 (+96.7%), from €23,845 to €46,906
- Other debts -€13,133
down €13,133 (-100%), from €13,133 to €0
- Gross operating margin +€56,823
up €56,823 (+40.5%), from €140,395 to €197,218
- Taxes +€21,558
up €21,558 (+72.4%), from €29,764 to €51,322
- Other operating charges -€3,101
down €3,101 (-57.4%), from €5,401 to €2,300
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 | €807,688 | €892,574 | +€84,886 | +10.5% |
| Fixed assets | 21/28 | €421,592 | €396,724 | -€24,868 | -5.9% |
| Tangible fixed assets | 22/27 | €421,592 | €396,724 | -€24,868 | -5.9% |
| Land and buildings | 22 | €343,433 | €333,809 | -€9,624 | -2.8% |
| Furniture and vehicles | 24 | €78,159 | €62,915 | -€15,244 | -19.5% |
| Current assets | 29/58 | €386,095 | €495,850 | +€109,755 | +28.4% |
| Amounts receivable after more than one year | 29 | €48,698 | €91,169 | +€42,471 | +87.2% |
| Other amounts receivable | 291 | €48,698 | €91,169 | +€42,471 | +87.2% |
| Amounts receivable within one year | 40/41 | €70,850 | €116,366 | +€45,516 | +64.2% |
| Trade receivables | 40 | €65,409 | €110,277 | +€44,868 | +68.6% |
| Other amounts receivable | 41 | €5,441 | €6,089 | +€648 | +11.9% |
| Current investments | 50/53 | €107,859 | €145,645 | +€37,786 | +35.0% |
| Cash at bank and in hand | 54/58 | €148,674 | €134,303 | -€14,371 | -9.7% |
| Deferred charges and accrued income | 490/1 | €10,015 | €8,367 | -€1,648 | -16.5% |
| Total equity and liabilities | 10/49 | €807,688 | €892,574 | +€84,886 | +10.5% |
| Equity | 10/15 | €550,716 | €662,445 | +€111,729 | +20.3% |
| Contributions | 10/11 | €12,605 | €12,605 | = | 0.0% |
| Reserves | 13 | €538,110 | €649,840 | +€111,729 | +20.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €538,110 | €649,840 | +€111,729 | +20.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €256,972 | €230,129 | -€26,843 | -10.4% |
| Amounts payable after more than one year | 17 | €149,617 | €112,675 | -€36,942 | -24.7% |
| Financial debts | 170/4 | €149,617 | €112,675 | -€36,942 | -24.7% |
| Amounts payable within one year | 42/48 | €107,355 | €117,455 | +€10,099 | +9.4% |
| Current portion of amounts payable after more than one year | 42 | €41,646 | €36,942 | -€4,704 | -11.3% |
| Financial debts | 43 | €6,298 | €6,397 | +€99 | +1.6% |
| Credit institutions | 430/8 | €6,298 | €6,397 | +€99 | +1.6% |
| Trade debts | 44 | €22,433 | €27,210 | +€4,777 | +21.3% |
| Suppliers | 440/4 | €22,433 | €27,210 | +€4,777 | +21.3% |
| Taxes, remuneration and social security | 45 | €23,845 | €46,906 | +€23,060 | +96.7% |
| Taxes | 450/3 | €23,845 | €46,906 | +€23,060 | +96.7% |
| Other amounts payable | 47/48 | €13,133 | €0 | -€13,133 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,627 | €29,035 | +€407 | +1.4% |
| Other operating charges | 640/8 | €5,401 | €2,300 | -€3,101 | -57.4% |
| Gross operating margin | 9900 | €140,395 | €197,218 | +€56,823 | +40.5% |
| Operating profit (loss) | 9901 | €106,366 | €165,883 | +€59,517 | +56.0% |
| Financial income | 75/76B | €3,914 | €4,989 | +€1,075 | +27.5% |
| Recurring financial income | 75 | €3,914 | €4,989 | +€1,075 | +27.5% |
| Financial charges | 65/66B | €8,243 | €7,821 | -€422 | -5.1% |
| Recurring financial charges | 65 | €8,243 | €7,821 | -€422 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | €102,037 | €163,051 | +€61,015 | +59.8% |
| Income taxes | 67/77 | €29,764 | €51,322 | +€21,558 | +72.4% |
| Profit (loss) for the period | 9904 | €72,273 | €111,729 | +€39,457 | +54.6% |
| Profit (loss) for the period to be appropriated | 9905 | €72,273 | €111,729 | +€39,457 | +54.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.