DEFAWES: 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.
DEFAWES
Largest movements
- Cash +€50,324
up €50,324 (+74.9%), from €67,218 to €117,542
mainly Depreciation (+€84,134) and Other debts (+€38,192)
- Other debts +€38,192
up €38,192 (+2.9%), from €1.3m to €1.4m
- Gross operating margin +€128,135
up €128,135 (+406%), from €31,559 to €159,694
- Depreciation +€5,631
up €5,631 (+7.2%), from €78,503 to €84,134
- Other operating charges -€4,587
down €4,587 (-10.7%), from €42,786 to €38,199
- Financial charges +€2,284
up €2,284 (+9.2%), from €24,843 to €27,127
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 | €1,900,583 | €1,944,059 | +€43,477 | +2.3% |
| Fixed assets | 21/28 | €1,827,660 | €1,810,094 | -€17,567 | -1.0% |
| Tangible fixed assets | 22/27 | €1,827,660 | €1,810,094 | -€17,567 | -1.0% |
| Land and buildings | 22 | €1,827,660 | €1,810,094 | -€17,567 | -1.0% |
| Current assets | 29/58 | €72,922 | €133,966 | +€61,043 | +83.7% |
| Amounts receivable within one year | 40/41 | €5,704 | €16,424 | +€10,720 | +188% |
| Trade receivables | 40 | €5,704 | €16,424 | +€10,720 | +188% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €67,218 | €117,542 | +€50,324 | +74.9% |
| Total equity and liabilities | 10/49 | €1,900,583 | €1,944,059 | +€43,477 | +2.3% |
| Equity | 10/15 | €551,789 | €562,023 | +€10,234 | +1.9% |
| Contributions | 10/11 | €600,000 | €600,000 | = | 0.0% |
| Capital | 10 | €600,000 | €600,000 | = | 0.0% |
| Issued capital | 100 | €600,000 | €600,000 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Legal reserve | 130 | €0 | - | = | |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€48,211 | -€37,977 | +€10,234 | +21.2% |
| Amounts payable | 17/49 | €1,348,794 | €1,382,036 | +€33,242 | +2.5% |
| Amounts payable within one year | 42/48 | €1,348,794 | €1,377,308 | +€28,514 | +2.1% |
| Trade debts | 44 | €8,867 | €9,891 | +€1,024 | +11.5% |
| Suppliers | 440/4 | €8,867 | €9,891 | +€1,024 | +11.5% |
| Taxes, remuneration and social security | 45 | €11,048 | €347 | -€10,702 | -96.9% |
| Taxes | 450/3 | €11,048 | €347 | -€10,702 | -96.9% |
| Other amounts payable | 47/48 | €1,328,878 | €1,367,070 | +€38,192 | +2.9% |
| Accrued charges and deferred income | 492/3 | - | €4,728 | +€4,728 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,503 | €84,134 | +€5,631 | +7.2% |
| Other operating charges | 640/8 | €42,786 | €38,199 | -€4,587 | -10.7% |
| Gross operating margin | 9900 | €31,559 | €159,694 | +€128,135 | +406% |
| Operating profit (loss) | 9901 | -€89,730 | €37,361 | +€127,091 | |
| Financial charges | 65/66B | €24,843 | €27,127 | +€2,284 | +9.2% |
| Recurring financial charges | 65 | €24,843 | €27,127 | +€2,284 | +9.2% |
| Profit (loss) for the period before taxes | 9903 | -€114,573 | €10,234 | +€124,807 | |
| Profit (loss) for the period | 9904 | -€114,573 | €10,234 | +€124,807 | |
| Profit (loss) for the period to be appropriated | 9905 | -€114,573 | €10,234 | +€124,807 |
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 13 October 2026 via checked.be.