Defensio: what changed
Two fiscal 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.
Defensio
Largest movements
- Tangible fixed assets +€260,000
up €260,000 (+26000000.0%), from €1 to €260,001
of which Land and buildings: +€260,000
- Cash -€223,795
down €223,795 (-99.8%), from €224,292 to €497
mainly Investment in fixed assets (net) (-€260,000) and Net result for the year (-€45,887)
- Other debts +€82,780
new in 2025: €82,780
- Profit (loss) carried forward -€45,887
down €45,887 (-32.3%), from -€142,009 to -€187,896
- Gross operating margin -€40,681
down €40,681 (-781.4%), from -€5,206 to -€45,887
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 | €235,093 | €271,298 | +€36,205 | +15.4% |
| Fixed assets | 21/28 | €1 | €260,001 | +€260,000 | +26000000.0% |
| Tangible fixed assets | 22/27 | €1 | €260,001 | +€260,000 | +26000000.0% |
| Land and buildings | 22 | - | €260,000 | +€260,000 | |
| Furniture and vehicles | 24 | €1 | €1 | = | 0.0% |
| Current assets | 29/58 | €235,092 | €11,297 | -€223,795 | -95.2% |
| Amounts receivable after more than one year | 29 | €10,800 | €10,800 | = | 0.0% |
| Other amounts receivable | 291 | €10,800 | €10,800 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €224,292 | €497 | -€223,795 | -99.8% |
| Total equity and liabilities | 10/49 | €235,093 | €271,298 | +€36,205 | +15.4% |
| Equity | 10/15 | €233,186 | €187,299 | -€45,887 | -19.7% |
| Contributions | 10/11 | €112,000 | €112,000 | = | 0.0% |
| Capital | 10 | €112,000 | €112,000 | = | 0.0% |
| Issued capital | 100 | €112,000 | €112,000 | = | 0.0% |
| Reserves | 13 | €263,195 | €263,195 | = | 0.0% |
| Non-distributable reserves | 130/1 | €259 | €259 | = | 0.0% |
| Legal reserve | 130 | €259 | €259 | = | 0.0% |
| Tax-exempt reserves | 132 | €260,094 | €260,094 | = | 0.0% |
| Distributable reserves | 133 | €2,842 | €2,842 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€142,009 | -€187,896 | -€45,887 | -32.3% |
| Amounts payable | 17/49 | €1,907 | €83,999 | +€82,092 | +4304.8% |
| Amounts payable within one year | 42/48 | €1,907 | €83,999 | +€82,092 | +4304.8% |
| Trade debts | 44 | €1,907 | €1,219 | -€688 | -36.1% |
| Suppliers | 440/4 | €1,907 | €1,219 | -€688 | -36.1% |
| Other amounts payable | 47/48 | - | €82,780 | +€82,780 | |
| Gross operating margin | 9900 | -€5,206 | -€45,887 | -€40,681 | -781.4% |
| Operating profit (loss) | 9901 | -€5,206 | -€45,887 | -€40,681 | -781.4% |
| Profit (loss) for the period before taxes | 9903 | -€5,206 | -€45,887 | -€40,681 | -781.4% |
| Profit (loss) for the period | 9904 | -€5,206 | -€45,887 | -€40,681 | -781.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,206 | -€45,887 | -€40,681 | -781.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.