DEFEVER MATTHIAS: 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.
DEFEVER MATTHIAS
Largest movements
- Cash +€63,257
up €63,257 (+326%), from €19,390 to €82,647
mainly Net result for the year (+€78,465) and Depreciation (+€56,426)
- Tangible fixed assets -€34,693
down €34,693 (-2.6%), from €1.3m to €1.3m
of which Land and buildings: -€33,121
- Reserves +€78,465
up €78,465 (+33.5%), from €234,033 to €312,498
- Current portion of long-term debt -€62,651
down €62,651 (-57.2%), from €109,609 to €46,958
- Short-term financial debts +€56,355
new in 2025: €56,355
- Debts after one year -€46,958
down €46,958 (-4.9%), from €961,959 to €915,000
- Gross operating margin +€23,865
up €23,865 (+13.8%), from €173,423 to €197,288
- Other operating charges -€17,666
down €17,666 (-92.7%), from €19,056 to €1,390
- Taxes +€16,758
up €16,758 (+85.2%), from €19,676 to €36,434
- Financial charges -€12,985
down €12,985 (-33.9%), from €38,273 to €25,288
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 | €1,364,903 | €1,399,937 | +€35,034 | +2.6% |
| Fixed assets | 21/28 | €1,330,681 | €1,295,988 | -€34,693 | -2.6% |
| Tangible fixed assets | 22/27 | €1,330,681 | €1,295,988 | -€34,693 | -2.6% |
| Land and buildings | 22 | €1,275,838 | €1,242,717 | -€33,121 | -2.6% |
| Plant, machinery and equipment | 23 | €23,940 | €22,900 | -€1,039 | -4.3% |
| Furniture and vehicles | 24 | €30,903 | €30,371 | -€532 | -1.7% |
| Current assets | 29/58 | €34,222 | €103,949 | +€69,727 | +204% |
| Amounts receivable within one year | 40/41 | €14,832 | €20,308 | +€5,476 | +36.9% |
| Trade receivables | 40 | €14,832 | €14,269 | -€563 | -3.8% |
| Other amounts receivable | 41 | - | €6,039 | +€6,039 | |
| Cash at bank and in hand | 54/58 | €19,390 | €82,647 | +€63,257 | +326% |
| Deferred charges and accrued income | 490/1 | - | €994 | +€994 | |
| Total equity and liabilities | 10/49 | €1,364,903 | €1,399,937 | +€35,034 | +2.6% |
| Equity | 10/15 | €234,533 | €312,998 | +€78,465 | +33.5% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €234,033 | €312,498 | +€78,465 | +33.5% |
| Distributable reserves | 133 | €234,033 | €312,498 | +€78,465 | +33.5% |
| Amounts payable | 17/49 | €1,130,370 | €1,086,939 | -€43,432 | -3.8% |
| Amounts payable after more than one year | 17 | €961,959 | €915,000 | -€46,958 | -4.9% |
| Financial debts | 170/4 | €961,959 | €915,000 | -€46,958 | -4.9% |
| Amounts payable within one year | 42/48 | €140,602 | €155,333 | +€14,732 | +10.5% |
| Current portion of amounts payable after more than one year | 42 | €109,609 | €46,958 | -€62,651 | -57.2% |
| Financial debts | 43 | - | €56,355 | +€56,355 | |
| Credit institutions | 430/8 | - | €56,355 | +€56,355 | |
| Trade debts | 44 | €520 | €11,260 | +€10,740 | +2,065% |
| Suppliers | 440/4 | €520 | €11,260 | +€10,740 | +2,065% |
| Taxes, remuneration and social security | 45 | €7,465 | €6,597 | -€869 | -11.6% |
| Taxes | 450/3 | €7,465 | €6,597 | -€869 | -11.6% |
| Other amounts payable | 47/48 | €23,007 | €34,164 | +€11,156 | +48.5% |
| Accrued charges and deferred income | 492/3 | €27,810 | €16,605 | -€11,205 | -40.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,085 | €56,426 | +€1,341 | +2.4% |
| Other operating charges | 640/8 | €19,056 | €1,390 | -€17,666 | -92.7% |
| Gross operating margin | 9900 | €173,423 | €197,288 | +€23,865 | +13.8% |
| Operating profit (loss) | 9901 | €99,282 | €139,473 | +€40,191 | +40.5% |
| Financial income | 75/76B | €23 | €714 | +€690 | +2,962% |
| Recurring financial income | 75 | €23 | €714 | +€690 | +2,962% |
| Financial charges | 65/66B | €38,273 | €25,288 | -€12,985 | -33.9% |
| Recurring financial charges | 65 | €38,273 | €25,288 | -€12,985 | -33.9% |
| Profit (loss) for the period before taxes | 9903 | €61,033 | €114,899 | +€53,866 | +88.3% |
| Income taxes | 67/77 | €19,676 | €36,434 | +€16,758 | +85.2% |
| Profit (loss) for the period | 9904 | €41,357 | €78,465 | +€37,108 | +89.7% |
| Profit (loss) for the period to be appropriated | 9905 | €41,357 | €78,465 | +€37,108 | +89.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.