DEFA INVEST: 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.
DEFA INVEST
Largest movements
- Cash +€27,362
up €27,362 (+73.1%), from €37,413 to €64,775
mainly Net result for the year (+€33,419) and Depreciation (+€18,365)
- Tangible fixed assets -€15,565
down €15,565 (-3.4%), from €451,395 to €435,830
of which Furniture and vehicles: -€17,122
- Profit (loss) carried forward +€33,419
up €33,419 (+14.2%), from €236,041 to €269,460
- Other debts -€14,924
down €14,924 (-9.5%), from €156,881 to €141,958
- Debts after one year -€10,388
down €10,388 (-21.5%), from €48,418 to €38,030
- Gross operating margin -€16,068
down €16,068 (-19.7%), from €81,671 to €65,603
- Depreciation +€3,456
up €3,456 (+23.2%), from €14,909 to €18,365
- Taxes -€982
down €982 (-8.1%), from €12,122 to €11,140
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 | €500,962 | €513,258 | +€12,296 | +2.5% |
| Fixed assets | 21/28 | €451,395 | €435,830 | -€15,565 | -3.4% |
| Tangible fixed assets | 22/27 | €451,395 | €435,830 | -€15,565 | -3.4% |
| Land and buildings | 22 | €391,024 | €391,024 | = | 0.0% |
| Plant, machinery and equipment | 23 | €544 | €2,100 | +€1,556 | +286% |
| Furniture and vehicles | 24 | €59,827 | €42,706 | -€17,122 | -28.6% |
| Current assets | 29/58 | €49,567 | €77,428 | +€27,862 | +56.2% |
| Amounts receivable within one year | 40/41 | €12,154 | €12,654 | +€500 | +4.1% |
| Trade receivables | 40 | €12,154 | €12,654 | +€500 | +4.1% |
| Cash at bank and in hand | 54/58 | €37,413 | €64,775 | +€27,362 | +73.1% |
| Total equity and liabilities | 10/49 | €500,962 | €513,258 | +€12,296 | +2.5% |
| Equity | 10/15 | €269,365 | €302,784 | +€33,419 | +12.4% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €14,324 | €14,324 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €12,424 | €12,424 | = | 0.0% |
| Profit (loss) carried forward | 14 | €236,041 | €269,460 | +€33,419 | +14.2% |
| Amounts payable | 17/49 | €231,597 | €210,474 | -€21,123 | -9.1% |
| Amounts payable after more than one year | 17 | €48,418 | €38,030 | -€10,388 | -21.5% |
| Financial debts | 170/4 | €48,418 | €38,030 | -€10,388 | -21.5% |
| Amounts payable within one year | 42/48 | €183,179 | €172,444 | -€10,735 | -5.9% |
| Current portion of amounts payable after more than one year | 42 | €9,968 | €10,387 | +€418 | +4.2% |
| Trade debts | 44 | €3,160 | €3,318 | +€158 | +5.0% |
| Suppliers | 440/4 | €3,160 | €3,318 | +€158 | +5.0% |
| Taxes, remuneration and social security | 45 | €13,170 | €16,782 | +€3,612 | +27.4% |
| Taxes | 450/3 | €13,170 | €16,782 | +€3,612 | +27.4% |
| Other amounts payable | 47/48 | €156,881 | €141,958 | -€14,924 | -9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,909 | €18,365 | +€3,456 | +23.2% |
| Other operating charges | 640/8 | €2,071 | €1,275 | -€796 | -38.4% |
| Non-recurring operating charges | 66A | €10,967 | - | -€10,967 | |
| Gross operating margin | 9900 | €81,671 | €65,603 | -€16,068 | -19.7% |
| Operating profit (loss) | 9901 | €53,724 | €45,963 | -€7,761 | -14.4% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,519 | €1,404 | -€116 | -7.6% |
| Recurring financial charges | 65 | €1,519 | €1,404 | -€116 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €52,205 | €44,559 | -€7,646 | -14.6% |
| Income taxes | 67/77 | €12,122 | €11,140 | -€982 | -8.1% |
| Profit (loss) for the period | 9904 | €40,083 | €33,419 | -€6,664 | -16.6% |
| Profit (loss) for the period to be appropriated | 9905 | €40,083 | €33,419 | -€6,664 | -16.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.