C.DEFRYN PROJECTS: 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.
C.DEFRYN PROJECTS
Largest movements
- Receivables within one year +€73,574
up €73,574 (+105%), from €70,306 to €143,880
of which Trade receivables: +€79,705
- Cash +€22,039
up €22,039 (+26.1%), from €84,381 to €106,421
mainly Net result for the year (+€78,187) and Tax, wage and social debts (+€33,659)
- Stocks and contracts +€21,186
up €21,186 (+487%), from €4,354 to €25,541
- Profit (loss) carried forward +€78,187
up €78,187 (+5,192%), from €1,506 to €79,693
- Tax, wage and social debts +€33,659
up €33,659 (+340%), from €9,914 to €43,572
of which Taxes: +€30,149
- Other debts +€11,696
up €11,696 (+9.2%), from €127,233 to €138,929
- Reserves -€10,216
down €10,216 (-17.6%), from €58,181 to €47,965
- Debts after one year -€8,984
down €8,984 (-4.3%), from €211,052 to €202,069
- Gross operating margin +€82,344
up €82,344 (+91.3%), from €90,208 to €172,551
- Staff costs +€30,321
up €30,321 (+327%), from €9,278 to €39,599
- Depreciation +€8,947
up €8,947 (+47.8%), from €18,734 to €27,681
- Taxes +€5,255
up €5,255 (+35.5%), from €14,784 to €20,039
- Financial charges -€1,795
down €1,795 (-30.3%), from €5,921 to €4,126
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 | €465,181 | €580,390 | +€115,209 | +24.8% |
| Fixed assets | 21/28 | €302,909 | €301,185 | -€1,724 | -0.6% |
| Tangible fixed assets | 22/27 | €302,909 | €301,185 | -€1,724 | -0.6% |
| Land and buildings | 22 | €249,184 | €239,381 | -€9,803 | -3.9% |
| Plant, machinery and equipment | 23 | €16,650 | €34,697 | +€18,047 | +108% |
| Furniture and vehicles | 24 | €37,075 | €27,107 | -€9,968 | -26.9% |
| Current assets | 29/58 | €162,272 | €279,205 | +€116,933 | +72.1% |
| Stocks and contracts in progress | 3 | €4,354 | €25,541 | +€21,186 | +487% |
| Stocks | 30/36 | €4,354 | €25,541 | +€21,186 | +487% |
| Amounts receivable within one year | 40/41 | €70,306 | €143,880 | +€73,574 | +105% |
| Trade receivables | 40 | €64,175 | €143,880 | +€79,705 | +124% |
| Other amounts receivable | 41 | €6,131 | - | -€6,131 | |
| Cash at bank and in hand | 54/58 | €84,381 | €106,421 | +€22,039 | +26.1% |
| Deferred charges and accrued income | 490/1 | €3,231 | €3,364 | +€133 | +4.1% |
| Total equity and liabilities | 10/49 | €465,181 | €580,390 | +€115,209 | +24.8% |
| Equity | 10/15 | €78,287 | €146,258 | +€67,971 | +86.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €58,181 | €47,965 | -€10,216 | -17.6% |
| Distributable reserves | 133 | €58,181 | €47,965 | -€10,216 | -17.6% |
| Profit (loss) carried forward | 14 | €1,506 | €79,693 | +€78,187 | +5,192% |
| Amounts payable | 17/49 | €386,894 | €434,132 | +€47,238 | +12.2% |
| Amounts payable after more than one year | 17 | €211,052 | €202,069 | -€8,984 | -4.3% |
| Financial debts | 170/4 | €211,052 | €202,069 | -€8,984 | -4.3% |
| Amounts payable within one year | 42/48 | €175,842 | €232,063 | +€56,222 | +32.0% |
| Current portion of amounts payable after more than one year | 42 | €26,874 | €32,626 | +€5,752 | +21.4% |
| Trade debts | 44 | €11,821 | €16,936 | +€5,115 | +43.3% |
| Suppliers | 440/4 | €11,821 | €16,936 | +€5,115 | +43.3% |
| Taxes, remuneration and social security | 45 | €9,914 | €43,572 | +€33,659 | +340% |
| Taxes | 450/3 | €5,736 | €35,885 | +€30,149 | +526% |
| Remuneration and social security | 454/9 | €4,178 | €7,688 | +€3,510 | +84.0% |
| Other amounts payable | 47/48 | €127,233 | €138,929 | +€11,696 | +9.2% |
| Remuneration, social security and pensions | 62 | €9,278 | €39,599 | +€30,321 | +327% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,734 | €27,681 | +€8,947 | +47.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,648 | +€1,648 | |
| Other operating charges | 640/8 | €1,628 | €1,666 | +€38 | +2.3% |
| Gross operating margin | 9900 | €90,208 | €172,551 | +€82,344 | +91.3% |
| Operating profit (loss) | 9901 | €60,567 | €101,957 | +€41,390 | +68.3% |
| Financial income | 75/76B | €1,644 | €394 | -€1,250 | -76.0% |
| Recurring financial income | 75 | €1,644 | €394 | -€1,250 | -76.0% |
| Financial charges | 65/66B | €5,921 | €4,126 | -€1,795 | -30.3% |
| Recurring financial charges | 65 | €5,921 | €4,126 | -€1,795 | -30.3% |
| Profit (loss) for the period before taxes | 9903 | €56,290 | €98,226 | +€41,936 | +74.5% |
| Income taxes | 67/77 | €14,784 | €20,039 | +€5,255 | +35.5% |
| Profit (loss) for the period | 9904 | €41,506 | €78,187 | +€36,681 | +88.4% |
| Profit (loss) for the period to be appropriated | 9905 | €41,506 | €78,187 | +€36,681 | +88.4% |
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 19 October 2026 via checked.be.