DEFERM DAAN: 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.
DEFERM DAAN
Largest movements
- Cash -€157,023
down €157,023 (-67.4%), from €233,044 to €76,020
mainly Contributions, distributions and other (-€166,000) and Other debts (-€143,892)
- Receivables within one year -€37,300
down €37,300 (-54.6%), from €68,316 to €31,016
of which Trade receivables: -€37,300
- Tangible fixed assets -€29,389
down €29,389 (-18.9%), from €155,159 to €125,770
of which Furniture and vehicles: -€20,068
- Stocks and contracts +€6,545
up €6,545 (+57.3%), from €11,420 to €17,965
- Other debts -€143,892
down €143,892 (-92.2%), from €155,984 to €12,091
- Reserves -€39,615
down €39,615 (-23.8%), from €166,239 to €126,625
- Debts after one year -€21,643
down €21,643 (-23.7%), from €91,476 to €69,833
- Tax, wage and social debts -€10,665
down €10,665 (-54.9%), from €19,444 to €8,779
- Gross operating margin +€24,865
up €24,865 (+14.5%), from €171,509 to €196,375
- Taxes +€3,427
up €3,427 (+9.8%), from €34,855 to €38,282
- Staff costs -€3,392
down €3,392 (-100.0%), from €3,392 to €0
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 | €473,384 | €255,719 | -€217,665 | -46.0% |
| Fixed assets | 21/28 | €159,602 | €129,463 | -€30,139 | -18.9% |
| Intangible fixed assets | 21 | €4,442 | €3,692 | -€750 | -16.9% |
| Tangible fixed assets | 22/27 | €155,159 | €125,770 | -€29,389 | -18.9% |
| Land and buildings | 22 | €84,027 | €78,845 | -€5,181 | -6.2% |
| Plant, machinery and equipment | 23 | €7,601 | €4,246 | -€3,355 | -44.1% |
| Furniture and vehicles | 24 | €50,226 | €30,158 | -€20,068 | -40.0% |
| Other tangible fixed assets | 26 | €13,306 | €12,521 | -€785 | -5.9% |
| Current assets | 29/58 | €313,782 | €126,257 | -€187,525 | -59.8% |
| Stocks and contracts in progress | 3 | €11,420 | €17,965 | +€6,545 | +57.3% |
| Stocks | 30/36 | €11,420 | €17,965 | +€6,545 | +57.3% |
| Amounts receivable within one year | 40/41 | €68,316 | €31,016 | -€37,300 | -54.6% |
| Trade receivables | 40 | €68,316 | €31,016 | -€37,300 | -54.6% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €233,044 | €76,020 | -€157,023 | -67.4% |
| Deferred charges and accrued income | 490/1 | €1,002 | €1,255 | +€253 | +25.3% |
| Total equity and liabilities | 10/49 | €473,384 | €255,719 | -€217,665 | -46.0% |
| Equity | 10/15 | €176,239 | €136,625 | -€39,615 | -22.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €166,239 | €126,625 | -€39,615 | -23.8% |
| Distributable reserves | 133 | €166,239 | €126,625 | -€39,615 | -23.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €297,145 | €119,095 | -€178,050 | -59.9% |
| Amounts payable after more than one year | 17 | €91,476 | €69,833 | -€21,643 | -23.7% |
| Financial debts | 170/4 | €91,476 | €69,833 | -€21,643 | -23.7% |
| Amounts payable within one year | 42/48 | €205,660 | €49,262 | -€156,399 | -76.0% |
| Current portion of amounts payable after more than one year | 42 | €22,380 | €21,643 | -€737 | -3.3% |
| Trade debts | 44 | €7,853 | €6,748 | -€1,104 | -14.1% |
| Suppliers | 440/4 | €7,853 | €6,748 | -€1,104 | -14.1% |
| Taxes, remuneration and social security | 45 | €19,444 | €8,779 | -€10,665 | -54.9% |
| Taxes | 450/3 | €19,444 | €8,779 | -€10,665 | -54.9% |
| Other amounts payable | 47/48 | €155,984 | €12,091 | -€143,892 | -92.2% |
| Accrued charges and deferred income | 492/3 | €8 | €0 | -€8 | -100.0% |
| Remuneration, social security and pensions | 62 | €3,392 | €0 | -€3,392 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,061 | €30,139 | -€1,922 | -6.0% |
| Other operating charges | 640/8 | €1,302 | €1,396 | +€95 | +7.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €171,509 | €196,375 | +€24,865 | +14.5% |
| Operating profit (loss) | 9901 | €134,754 | €164,839 | +€30,085 | +22.3% |
| Financial income | 75/76B | €1,089 | €1,354 | +€265 | +24.3% |
| Recurring financial income | 75 | €1,089 | €1,354 | +€265 | +24.3% |
| Financial charges | 65/66B | €2,539 | €1,525 | -€1,014 | -39.9% |
| Recurring financial charges | 65 | €2,539 | €1,525 | -€1,014 | -39.9% |
| Profit (loss) for the period before taxes | 9903 | €133,304 | €164,668 | +€31,364 | +23.5% |
| Income taxes | 67/77 | €34,855 | €38,282 | +€3,427 | +9.8% |
| Profit (loss) for the period | 9904 | €98,449 | €126,385 | +€27,937 | +28.4% |
| Profit (loss) for the period to be appropriated | 9905 | €98,449 | €126,385 | +€27,937 | +28.4% |
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 7 October 2026 via checked.be.