DEO: 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.
DEO
Largest movements
- Current investments +€496,256
new in 2024: €496,256
- Receivables within one year -€83,375
down €83,375 (-27.2%), from €306,171 to €222,796
of which Trade receivables: -€116,609
- Intangible fixed assets +€80,567
up €80,567 (+5.6%), from €1.4m to €1.5m
- Stocks and contracts -€31,600
down €31,600 (-100%), from €31,600 to €0
- Cash -€30,674
down €30,674 (-13.6%), from €225,206 to €194,532
mainly Net result for the year (-€1.5m) and Investment in fixed assets (net) (-€548,422)
- Profit (loss) carried forward +€2.9m
up €2.9m (+85.9%), from -€3.4m to -€476,315
- Contributions -€2.4m
down €2.4m (-51.9%), from €4.6m to €2.2m
of which Capital: -€2.4m
- Debts after one year -€175,000
down €175,000 (-94.4%), from €185,417 to €10,417
- Accrued charges and deferred income +€153,730
up €153,730 (+183%), from €84,104 to €237,834
- Trade debts -€103,073
down €103,073 (-40.4%), from €254,997 to €151,925
- Gross operating margin +€182,943
up €182,943 (+34.4%), from -€531,988 to -€349,046
- Staff costs +€164,601
up €164,601 (+29.5%), from €558,813 to €723,414
- Depreciation +€95,922
up €95,922 (+25.3%), from €378,670 to €474,592
- Financial charges +€8,289
up €8,289 (+51.1%), from €16,229 to €24,518
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,061,406 | €2,490,792 | +€429,386 | +20.8% |
| Formation expenses | 20 | €5,340 | €8,533 | +€3,192 | +59.8% |
| Fixed assets | 21/28 | €1,474,954 | €1,545,592 | +€70,638 | +4.8% |
| Intangible fixed assets | 21 | €1,444,662 | €1,525,228 | +€80,567 | +5.6% |
| Tangible fixed assets | 22/27 | €23,236 | €13,308 | -€9,929 | -42.7% |
| Plant, machinery and equipment | 23 | - | €1,158 | +€1,158 | |
| Furniture and vehicles | 24 | €23,236 | €12,150 | -€11,086 | -47.7% |
| Financial fixed assets | 28 | €7,056 | €7,056 | = | 0.0% |
| Current assets | 29/58 | €581,112 | €936,668 | +€355,556 | +61.2% |
| Stocks and contracts in progress | 3 | €31,600 | €0 | -€31,600 | -100% |
| Contracts in progress | 37 | €31,600 | €0 | -€31,600 | -100% |
| Amounts receivable within one year | 40/41 | €306,171 | €222,796 | -€83,375 | -27.2% |
| Trade receivables | 40 | €253,381 | €136,771 | -€116,609 | -46.0% |
| Other amounts receivable | 41 | €52,790 | €86,025 | +€33,234 | +63.0% |
| Current investments | 50/53 | - | €496,256 | +€496,256 | |
| Cash at bank and in hand | 54/58 | €225,206 | €194,532 | -€30,674 | -13.6% |
| Deferred charges and accrued income | 490/1 | €18,134 | €23,084 | +€4,950 | +27.3% |
| Total equity and liabilities | 10/49 | €2,061,406 | €2,490,792 | +€429,386 | +20.8% |
| Equity | 10/15 | €1,415,501 | €1,945,623 | +€530,122 | +37.5% |
| Contributions | 10/11 | €4,631,755 | €2,228,568 | -€2.4m | -51.9% |
| Capital | 10 | €4,148,354 | €1,745,168 | -€2.4m | -57.9% |
| Issued capital | 100 | €4,148,354 | €1,745,168 | -€2.4m | -57.9% |
| Contributions outside capital | 11 | €483,401 | €483,401 | = | 0.0% |
| Share premium | 1100/10 | €483,401 | €483,401 | = | 0.0% |
| Reserves | 13 | €1,000 | €1,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,000 | €1,000 | = | 0.0% |
| Legal reserve | 130 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,383,349 | -€476,315 | +€2.9m | +85.9% |
| Investment grants | 15 | €166,095 | €192,369 | +€26,274 | +15.8% |
| Amounts payable | 17/49 | €645,905 | €545,169 | -€100,736 | -15.6% |
| Amounts payable after more than one year | 17 | €185,417 | €10,417 | -€175,000 | -94.4% |
| Financial debts | 170/4 | €185,417 | €10,417 | -€175,000 | -94.4% |
| Amounts payable within one year | 42/48 | €376,384 | €296,918 | -€79,466 | -21.1% |
| Current portion of amounts payable after more than one year | 42 | €27,083 | €25,000 | -€2,083 | -7.7% |
| Financial debts | 43 | €12,137 | €0 | -€12,137 | -100% |
| Credit institutions | 430/8 | €12,137 | €0 | -€12,137 | -100% |
| Trade debts | 44 | €254,997 | €151,925 | -€103,073 | -40.4% |
| Suppliers | 440/4 | €254,997 | €151,925 | -€103,073 | -40.4% |
| Taxes, remuneration and social security | 45 | €80,625 | €119,994 | +€39,368 | +48.8% |
| Taxes | 450/3 | €11,427 | €20,519 | +€9,091 | +79.6% |
| Remuneration and social security | 454/9 | €69,198 | €99,475 | +€30,277 | +43.8% |
| Other amounts payable | 47/48 | €1,541 | €0 | -€1,541 | -100% |
| Accrued charges and deferred income | 492/3 | €84,104 | €237,834 | +€153,730 | +183% |
| Non-recurring operating income | 76A | €9,498 | €0 | -€9,498 | -100% |
| Remuneration, social security and pensions | 62 | €558,813 | €723,414 | +€164,601 | +29.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €378,670 | €474,592 | +€95,922 | +25.3% |
| Other operating charges | 640/8 | €1,445 | €5,160 | +€3,715 | +257% |
| Non-recurring operating charges | 66A | €1,659 | €0 | -€1,659 | -100% |
| Gross operating margin | 9900 | -€531,988 | -€349,046 | +€182,943 | +34.4% |
| Operating profit (loss) | 9901 | -€1,472,575 | -€1,552,212 | -€79,637 | -5.4% |
| Financial income | 75/76B | €77,715 | €78,021 | +€306 | +0.4% |
| Recurring financial income | 75 | €77,715 | €78,021 | +€306 | +0.4% |
| Financial charges | 65/66B | €16,229 | €24,518 | +€8,289 | +51.1% |
| Recurring financial charges | 65 | €16,229 | €24,518 | +€8,289 | +51.1% |
| Profit (loss) for the period before taxes | 9903 | -€1,411,089 | -€1,498,709 | -€87,620 | -6.2% |
| Income taxes | 67/77 | €1,375 | -€2,557 | -€3,932 | |
| Profit (loss) for the period | 9904 | -€1,412,464 | -€1,496,152 | -€83,688 | -5.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,412,464 | -€1,496,152 | -€83,688 | -5.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.