BJORN DEFORCHE: 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.
BJORN DEFORCHE
Largest movements
- Tangible fixed assets -€61,657
down €61,657 (-26.9%), from €229,156 to €167,500
of which Leasing and similar rights: -€53,273
- Cash -€20,886
down €20,886 (-34.5%), from €60,583 to €39,697
mainly Debts after one year (-€65,938) and Contributions, distributions and other (-€19,373)
- Current investments +€11,000
up €11,000 (+21.3%), from €51,750 to €62,750
- Receivables within one year +€4,790
up €4,790 (+18.5%), from €25,929 to €30,719
of which Trade receivables: +€4,213
- Debts after one year -€65,938
down €65,938 (-43.2%), from €152,668 to €86,730
- Reserves -€12,542
down €12,542 (-17.2%), from €73,087 to €60,545
of which Distributable reserves: -€12,542
- Other debts +€10,111
up €10,111 (+23.2%), from €43,490 to €53,601
- Trade debts +€4,711
up €4,711 (+36.2%), from €13,026 to €17,736
- Gross operating margin -€21,116
down €21,116 (-17.7%), from €119,507 to €98,391
- Depreciation -€7,293
down €7,293 (-10.4%), from €70,269 to €62,976
- Other operating charges +€1,466
up €1,466 (+8.4%), from €17,510 to €18,975
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 | €373,236 | €309,330 | -€63,906 | -17.1% |
| Fixed assets | 21/28 | €229,156 | €167,500 | -€61,657 | -26.9% |
| Intangible fixed assets | 21 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €229,156 | €167,500 | -€61,657 | -26.9% |
| Land and buildings | 22 | €1,386 | €924 | -€462 | -33.3% |
| Plant, machinery and equipment | 23 | €2,760 | €3,211 | +€451 | +16.4% |
| Furniture and vehicles | 24 | €19,069 | €10,696 | -€8,373 | -43.9% |
| Leasing and similar rights | 25 | €205,941 | €152,669 | -€53,273 | -25.9% |
| Current assets | 29/58 | €144,080 | €141,830 | -€2,250 | -1.6% |
| Amounts receivable within one year | 40/41 | €25,929 | €30,719 | +€4,790 | +18.5% |
| Trade receivables | 40 | €23,874 | €28,087 | +€4,213 | +17.6% |
| Other amounts receivable | 41 | €2,055 | €2,632 | +€577 | +28.1% |
| Current investments | 50/53 | €51,750 | €62,750 | +€11,000 | +21.3% |
| Cash at bank and in hand | 54/58 | €60,583 | €39,697 | -€20,886 | -34.5% |
| Deferred charges and accrued income | 490/1 | €5,819 | €8,665 | +€2,846 | +48.9% |
| Total equity and liabilities | 10/49 | €373,236 | €309,330 | -€63,906 | -17.1% |
| Equity | 10/15 | €91,687 | €79,145 | -€12,542 | -13.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €73,087 | €60,545 | -€12,542 | -17.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €73,087 | €60,545 | -€12,542 | -17.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €281,549 | €230,185 | -€51,364 | -18.2% |
| Amounts payable after more than one year | 17 | €152,668 | €86,730 | -€65,938 | -43.2% |
| Financial debts | 170/4 | €152,668 | €86,730 | -€65,938 | -43.2% |
| Amounts payable within one year | 42/48 | €128,881 | €143,455 | +€14,574 | +11.3% |
| Current portion of amounts payable after more than one year | 42 | €65,069 | €65,938 | +€869 | +1.3% |
| Trade debts | 44 | €13,026 | €17,736 | +€4,711 | +36.2% |
| Suppliers | 440/4 | €13,026 | €17,736 | +€4,711 | +36.2% |
| Taxes, remuneration and social security | 45 | €7,297 | €6,180 | -€1,117 | -15.3% |
| Taxes | 450/3 | €5,097 | €6,180 | +€1,083 | +21.2% |
| Remuneration and social security | 454/9 | €2,200 | €0 | -€2,200 | -100% |
| Other amounts payable | 47/48 | €43,490 | €53,601 | +€10,111 | +23.2% |
| Non-recurring operating income | 76A | €2,491 | €0 | -€2,491 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,269 | €62,976 | -€7,293 | -10.4% |
| Other operating charges | 640/8 | €17,510 | €18,975 | +€1,466 | +8.4% |
| Gross operating margin | 9900 | €119,507 | €98,391 | -€21,116 | -17.7% |
| Operating profit (loss) | 9901 | €31,728 | €16,440 | -€15,289 | -48.2% |
| Financial income | 75/76B | €381 | €1,481 | +€1,100 | +289% |
| Recurring financial income | 75 | €381 | €1,481 | +€1,100 | +289% |
| Financial charges | 65/66B | €7,169 | €7,277 | +€109 | +1.5% |
| Recurring financial charges | 65 | €7,169 | €7,277 | +€109 | +1.5% |
| Profit (loss) for the period before taxes | 9903 | €24,941 | €10,643 | -€14,297 | -57.3% |
| Income taxes | 67/77 | €4,627 | €3,812 | -€815 | -17.6% |
| Profit (loss) for the period | 9904 | €20,314 | €6,831 | -€13,483 | -66.4% |
| Profit (loss) for the period to be appropriated | 9905 | €20,314 | €6,831 | -€13,483 | -66.4% |
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 1 November 2026 via checked.be.