DAFIN ADVISORY: 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.
DAFIN ADVISORY
Largest movements
- Tangible fixed assets +€141,234
up €141,234 (+36.3%), from €389,308 to €530,542
of which Land and buildings: +€178,714
- Cash +€134,347
up €134,347 (+696.5%), from €19,289 to €153,636
mainly Debts after one year (+€278,093) and Net result for the year (+€65,872)
- Receivables within one year -€18,180
no longer reported in 2025 (was €18,180)
of which Trade receivables: -€16,698
- Debts after one year +€278,093
up €278,093 (+43883.3%), from €634 to €278,727
- Short-term financial debts -€100,413
no longer reported in 2025 (was €100,413)
- Reserves +€65,872
up €65,872 (+129.0%), from €51,078 to €116,950
of which Distributable reserves: +€65,872
- Other debts +€18,354
up €18,354 (+8.6%), from €212,931 to €231,285
- Trade debts -€7,461
down €7,461 (-31.2%), from €23,883 to €16,422
- Depreciation -€35,022
down €35,022 (-50.1%), from €69,920 to €34,898
- Taxes +€4,300
up €4,300 (+32.5%), from €13,249 to €17,549
- Staff costs +€3,523
up €3,523 (+107.3%), from €3,284 to €6,806
- Other operating charges +€3,143
up €3,143 (+118.7%), from €2,647 to €5,790
- Financial charges +€2,982
up €2,982 (+184.8%), from €1,614 to €4,595
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.
Cash bridge derived
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 | €431,130 | €687,309 | +€256,179 | +59.4% |
| Fixed assets | 21/28 | €390,237 | €530,542 | +€140,304 | +36.0% |
| Intangible fixed assets | 21 | €929 | - | -€929 | |
| Tangible fixed assets | 22/27 | €389,308 | €530,542 | +€141,234 | +36.3% |
| Land and buildings | 22 | €345,131 | €523,845 | +€178,714 | +51.8% |
| Plant, machinery and equipment | 23 | €3,550 | €2,756 | -€795 | -22.4% |
| Furniture and vehicles | 24 | €39,395 | €3,017 | -€36,378 | -92.3% |
| Other tangible fixed assets | 26 | €1,231 | €924 | -€308 | -25.0% |
| Current assets | 29/58 | €40,893 | €156,768 | +€115,874 | +283.4% |
| Amounts receivable within one year | 40/41 | €18,180 | - | -€18,180 | |
| Trade receivables | 40 | €16,698 | - | -€16,698 | |
| Other amounts receivable | 41 | €1,482 | - | -€1,482 | |
| Cash at bank and in hand | 54/58 | €19,289 | €153,636 | +€134,347 | +696.5% |
| Deferred charges and accrued income | 490/1 | €3,424 | €3,131 | -€292 | -8.5% |
| Total equity and liabilities | 10/49 | €431,130 | €687,309 | +€256,179 | +59.4% |
| Equity | 10/15 | €69,678 | €135,550 | +€65,872 | +94.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €51,078 | €116,950 | +€65,872 | +129.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €49,218 | €115,090 | +€65,872 | +133.8% |
| Amounts payable | 17/49 | €361,452 | €551,759 | +€190,307 | +52.7% |
| Amounts payable after more than one year | 17 | €634 | €278,727 | +€278,093 | +43883.3% |
| Financial debts | 170/4 | €634 | €278,727 | +€278,093 | +43883.3% |
| Amounts payable within one year | 42/48 | €360,819 | €273,032 | -€87,786 | -24.3% |
| Current portion of amounts payable after more than one year | 42 | €8,631 | €11,767 | +€3,137 | +36.3% |
| Financial debts | 43 | €100,413 | - | -€100,413 | |
| Other loans | 439 | €100,413 | - | -€100,413 | |
| Trade debts | 44 | €23,883 | €16,422 | -€7,461 | -31.2% |
| Suppliers | 440/4 | €23,883 | €16,422 | -€7,461 | -31.2% |
| Taxes, remuneration and social security | 45 | €14,962 | €13,558 | -€1,404 | -9.4% |
| Taxes | 450/3 | €14,962 | €13,558 | -€1,404 | -9.4% |
| Other amounts payable | 47/48 | €212,931 | €231,285 | +€18,354 | +8.6% |
| Remuneration, social security and pensions | 62 | €3,284 | €6,806 | +€3,523 | +107.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,920 | €34,898 | -€35,022 | -50.1% |
| Other operating charges | 640/8 | €2,647 | €5,790 | +€3,143 | +118.7% |
| Gross operating margin | 9900 | €135,556 | €135,371 | -€185 | -0.1% |
| Operating profit (loss) | 9901 | €59,706 | €87,877 | +€28,171 | +47.2% |
| Financial income | 75/76B | €3,006 | €140 | -€2,867 | -95.4% |
| Recurring financial income | 75 | €3,006 | €140 | -€2,867 | -95.4% |
| Financial charges | 65/66B | €1,614 | €4,595 | +€2,982 | +184.8% |
| Recurring financial charges | 65 | €1,614 | €4,595 | +€2,982 | +184.8% |
| Profit (loss) for the period before taxes | 9903 | €61,098 | €83,421 | +€22,323 | +36.5% |
| Income taxes | 67/77 | €13,249 | €17,549 | +€4,300 | +32.5% |
| Profit (loss) for the period | 9904 | €47,849 | €65,872 | +€18,023 | +37.7% |
| Profit (loss) for the period to be appropriated | 9905 | €47,849 | €65,872 | +€18,023 | +37.7% |
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 10 October 2026 via checked.be.