FREDERICK DESMET: what changed
What changed
FREDERICK DESMET
NACE 43.222, Installation of electric heating, air conditioning, cooling and ventilation
filed annual accounts (NBB)
Net result for the year
€8,905
2024 · €23,083-€14,178
Equity
€201,616
2024 · €192,712+€8,905
Cash
€17,131
2024 · €30,864-€13,734
Balance sheet total
€359,845
2024 · €387,910-€28,066
Largest movements
Assets
- Tangible fixed assets -€28,364
down €28,364 (-8.8%), from €322,759 to €294,395
of which Furniture and vehicles: -€16,757
- Cash -€13,734
down €13,734 (-44.5%), from €30,864 to €17,131
mainly Debts after one year (-€31,571) and Receivables within one year (-€12,868)
- Receivables within one year +€12,868
up €12,868 (+38.2%), from €33,682 to €46,549
of which Trade receivables: +€11,840
Equity and liabilities
- Debts after one year -€31,571
down €31,571 (-25.8%), from €122,295 to €90,724
- Reserves +€8,000
up €8,000 (+4.3%), from €184,943 to €192,943
Income statement
- Gross operating margin -€21,916
down €21,916 (-25.6%), from €85,645 to €63,729
- Taxes -€5,517
down €5,517 (-55.5%), from €9,940 to €4,423
- Staff costs -€1,560
down €1,560 (-11.3%), from €13,781 to €12,221
- Financial charges -€1,338
down €1,338 (-25.3%), from €5,288 to €3,951
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€23,083
Gross operating margin
-€21,916
Staff costs
+€1,560
Depreciation
-€611
Other operating charges
-€430
Financial income
+€364
Financial charges
+€1,338
Taxes
+€5,517
Result 2025
€8,905
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€24,387
Investment
-€4,168
Financing
-€33,952
Cash 2024
€30,864
From operations (derived)
+€24,387
Net result for the year
+€8,905
Depreciation
+€32,532
Receivables within one year
-€12,868
Deferred charges and accrued income
-€1,164
Trade debts
+€660
Tax, wage and social debts
-€3,679
Investment (derived)
-€4,168
Investment in fixed assets (net)
-€4,168
Financing
-€33,952
Debts after one year
-€31,571
Current portion of long-term debt
-€2,381
Cash 2025
€17,131
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €387,910 | €359,845 | -€28,066 | -7.2% |
| Fixed assets | 21/28 | €322,810 | €294,446 | -€28,364 | -8.8% |
| Intangible fixed assets | 21 | €1 | €1 | = | 0.0% |
| Tangible fixed assets | 22/27 | €322,759 | €294,395 | -€28,364 | -8.8% |
| Land and buildings | 22 | €256,012 | €244,208 | -€11,805 | -4.6% |
| Plant, machinery and equipment | 23 | €2,091 | €2,289 | +€198 | +9.5% |
| Furniture and vehicles | 24 | €64,655 | €47,898 | -€16,757 | -25.9% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €65,101 | €65,399 | +€298 | +0.5% |
| Stocks and contracts in progress | 3 | €555 | €555 | = | 0.0% |
| Stocks | 30/36 | €555 | €555 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €33,682 | €46,549 | +€12,868 | +38.2% |
| Trade receivables | 40 | €26,341 | €38,181 | +€11,840 | +44.9% |
| Other amounts receivable | 41 | €7,341 | €8,369 | +€1,028 | +14.0% |
| Cash at bank and in hand | 54/58 | €30,864 | €17,131 | -€13,734 | -44.5% |
| Deferred charges and accrued income | 490/1 | - | €1,164 | +€1,164 | |
| Total equity and liabilities | 10/49 | €387,910 | €359,845 | -€28,066 | -7.2% |
| Equity | 10/15 | €192,712 | €201,616 | +€8,905 | +4.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €184,943 | €192,943 | +€8,000 | +4.3% |
| Distributable reserves | 133 | €184,943 | €192,943 | +€8,000 | +4.3% |
| Profit (loss) carried forward | 14 | €1,568 | €2,473 | +€905 | +57.7% |
| Amounts payable | 17/49 | €195,199 | €158,228 | -€36,970 | -18.9% |
| Amounts payable after more than one year | 17 | €122,295 | €90,724 | -€31,571 | -25.8% |
| Financial debts | 170/4 | €122,295 | €90,724 | -€31,571 | -25.8% |
| Amounts payable within one year | 42/48 | €72,904 | €67,504 | -€5,400 | -7.4% |
| Current portion of amounts payable after more than one year | 42 | €33,952 | €31,571 | -€2,381 | -7.0% |
| Trade debts | 44 | €26,094 | €26,754 | +€660 | +2.5% |
| Suppliers | 440/4 | €26,094 | €26,754 | +€660 | +2.5% |
| Taxes, remuneration and social security | 45 | €12,858 | €9,179 | -€3,679 | -28.6% |
| Taxes | 450/3 | €7,084 | €3,228 | -€3,856 | -54.4% |
| Remuneration and social security | 454/9 | €5,774 | €5,951 | +€177 | +3.1% |
| Remuneration, social security and pensions | 62 | €13,781 | €12,221 | -€1,560 | -11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,921 | €32,532 | +€611 | +1.9% |
| Other operating charges | 640/8 | €2,032 | €2,462 | +€430 | +21.1% |
| Gross operating margin | 9900 | €85,645 | €63,729 | -€21,916 | -25.6% |
| Operating profit (loss) | 9901 | €37,911 | €16,514 | -€21,397 | -56.4% |
| Financial income | 75/76B | €401 | €765 | +€364 | +90.6% |
| Recurring financial income | 75 | €401 | €765 | +€364 | +90.6% |
| Financial charges | 65/66B | €5,288 | €3,951 | -€1,338 | -25.3% |
| Recurring financial charges | 65 | €5,288 | €3,951 | -€1,338 | -25.3% |
| Profit (loss) for the period before taxes | 9903 | €33,024 | €13,328 | -€19,696 | -59.6% |
| Income taxes | 67/77 | €9,940 | €4,423 | -€5,517 | -55.5% |
| Profit (loss) for the period | 9904 | €23,083 | €8,905 | -€14,178 | -61.4% |
| Profit (loss) for the period to be appropriated | 9905 | €23,083 | €8,905 | -€14,178 | -61.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.