DEFAYS & Co: 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.
DEFAYS & Co
Largest movements
- Cash +€150,927
up €150,927 (+581%), from €25,956 to €176,883
mainly Short-term financial debts (+€145,646) and Trade debts (+€96,872)
- Stocks and contracts +€76,929
up €76,929 (+15.3%), from €501,355 to €578,285
- Tangible fixed assets +€38,127
up €38,127 (+23.9%), from €159,295 to €197,422
of which Leasing and similar rights: +€51,279
- Receivables within one year -€35,277
down €35,277 (-36.3%), from €97,239 to €61,962
of which Other amounts receivable: -€24,207
- Short-term financial debts +€145,646
up €145,646 (+32.1%), from €454,354 to €600,000
- Trade debts +€96,872
up €96,872 (+50.0%), from €193,611 to €290,483
- Profit (loss) carried forward -€50,346
down €50,346, from €14,745 to -€35,601
- Debts after one year +€17,536
up €17,536 (+24.3%), from €72,176 to €89,712
- Tax, wage and social debts +€15,548
up €15,548 (+67.3%), from €23,097 to €38,645
of which Taxes: +€13,287
- Gross operating margin -€33,730
down €33,730 (-21.5%), from €156,743 to €123,013
- Depreciation +€13,812
up €13,812 (+34.6%), from €39,893 to €53,706
- Staff costs +€9,621
up €9,621 (+12.1%), from €79,267 to €88,888
- Financial charges +€1,875
up €1,875 (+6.4%), from €29,253 to €31,129
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 | €796,834 | €1,030,161 | +€233,327 | +29.3% |
| Formation expenses | 20 | €5,142 | €3,659 | -€1,483 | -28.8% |
| Fixed assets | 21/28 | €162,004 | €199,355 | +€37,351 | +23.1% |
| Intangible fixed assets | 21 | €2,709 | €1,933 | -€776 | -28.6% |
| Tangible fixed assets | 22/27 | €159,295 | €197,422 | +€38,127 | +23.9% |
| Plant, machinery and equipment | 23 | €86,620 | €63,788 | -€22,832 | -26.4% |
| Furniture and vehicles | 24 | €10,423 | €14,337 | +€3,914 | +37.6% |
| Leasing and similar rights | 25 | €18,527 | €69,805 | +€51,279 | +277% |
| Other tangible fixed assets | 26 | €43,725 | €49,492 | +€5,766 | +13.2% |
| Current assets | 29/58 | €629,689 | €827,148 | +€197,459 | +31.4% |
| Stocks and contracts in progress | 3 | €501,355 | €578,285 | +€76,929 | +15.3% |
| Stocks | 30/36 | €501,355 | €578,285 | +€76,929 | +15.3% |
| Amounts receivable within one year | 40/41 | €97,239 | €61,962 | -€35,277 | -36.3% |
| Trade receivables | 40 | €57,503 | €46,433 | -€11,070 | -19.3% |
| Other amounts receivable | 41 | €39,736 | €15,529 | -€24,207 | -60.9% |
| Cash at bank and in hand | 54/58 | €25,956 | €176,883 | +€150,927 | +581% |
| Deferred charges and accrued income | 490/1 | €5,139 | €10,018 | +€4,879 | +94.9% |
| Total equity and liabilities | 10/49 | €796,834 | €1,030,161 | +€233,327 | +29.3% |
| Equity | 10/15 | €29,745 | -€20,601 | -€50,346 | |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,745 | -€35,601 | -€50,346 | |
| Amounts payable | 17/49 | €767,090 | €1,050,762 | +€283,673 | +37.0% |
| Amounts payable after more than one year | 17 | €72,176 | €89,712 | +€17,536 | +24.3% |
| Financial debts | 170/4 | €72,176 | €89,712 | +€17,536 | +24.3% |
| Amounts payable within one year | 42/48 | €691,861 | €960,947 | +€269,086 | +38.9% |
| Current portion of amounts payable after more than one year | 42 | €20,799 | €31,819 | +€11,020 | +53.0% |
| Financial debts | 43 | €454,354 | €600,000 | +€145,646 | +32.1% |
| Credit institutions | 430/8 | €454,354 | €600,000 | +€145,646 | +32.1% |
| Trade debts | 44 | €193,611 | €290,483 | +€96,872 | +50.0% |
| Suppliers | 440/4 | €193,611 | €290,483 | +€96,872 | +50.0% |
| Taxes, remuneration and social security | 45 | €23,097 | €38,645 | +€15,548 | +67.3% |
| Taxes | 450/3 | €6,885 | €20,172 | +€13,287 | +193% |
| Remuneration and social security | 454/9 | €16,212 | €18,473 | +€2,261 | +13.9% |
| Accrued charges and deferred income | 492/3 | €3,053 | €104 | -€2,949 | -96.6% |
| Remuneration, social security and pensions | 62 | €79,267 | €88,888 | +€9,621 | +12.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,893 | €53,706 | +€13,812 | +34.6% |
| Other operating charges | 640/8 | €536 | €777 | +€241 | +44.9% |
| Gross operating margin | 9900 | €156,743 | €123,013 | -€33,730 | -21.5% |
| Operating profit (loss) | 9901 | €37,046 | -€20,357 | -€57,403 | |
| Financial income | 75/76B | €949 | €1,140 | +€191 | +20.2% |
| Recurring financial income | 75 | €949 | €1,140 | +€191 | +20.2% |
| Financial charges | 65/66B | €29,253 | €31,129 | +€1,875 | +6.4% |
| Recurring financial charges | 65 | €29,253 | €31,129 | +€1,875 | +6.4% |
| Profit (loss) for the period before taxes | 9903 | €8,741 | -€50,346 | -€59,087 | |
| Income taxes | 67/77 | €1,451 | - | -€1,451 | |
| Profit (loss) for the period | 9904 | €7,290 | -€50,346 | -€57,636 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,290 | -€50,346 | -€57,636 |
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 15 October 2026 via checked.be.