DEFI: 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.
DEFI
Largest movements
- Cash +€36,591
up €36,591 (+62.5%), from €58,523 to €95,114
mainly Depreciation (+€18,954) and Net result for the year (+€16,058)
- Tangible fixed assets -€18,954
down €18,954 (-27.2%), from €69,680 to €50,726
of which Furniture and vehicles: -€17,642
- Receivables within one year +€6,274
up €6,274 (+29.4%), from €21,310 to €27,584
of which Trade receivables: +€3,966
- Stocks and contracts -€3,084
down €3,084 (-27.0%), from €11,408 to €8,324
- Reserves +€16,058
up €16,058 (+15.4%), from €104,171 to €120,229
of which Distributable reserves: +€17,909
- Debts after one year -€8,193
down €8,193 (-40.1%), from €20,435 to €12,242
- Tax, wage and social debts +€6,662
up €6,662 (+85.7%), from €7,775 to €14,437
- Trade debts +€5,741
up €5,741 (+703%), from €816 to €6,557
- Gross operating margin +€9,484
up €9,484 (+23.0%), from €41,237 to €50,722
- Depreciation +€1,711
up €1,711 (+9.9%), from €17,243 to €18,954
- Taxes +€632
up €632 (+14.4%), from €4,387 to €5,019
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 | €162,694 | €182,945 | +€20,251 | +12.4% |
| Fixed assets | 21/28 | €69,680 | €50,726 | -€18,954 | -27.2% |
| Tangible fixed assets | 22/27 | €69,680 | €50,726 | -€18,954 | -27.2% |
| Land and buildings | 22 | €4,090 | €3,607 | -€483 | -11.8% |
| Plant, machinery and equipment | 23 | €3,356 | €2,527 | -€829 | -24.7% |
| Furniture and vehicles | 24 | €62,234 | €44,592 | -€17,642 | -28.3% |
| Current assets | 29/58 | €93,014 | €132,219 | +€39,205 | +42.1% |
| Stocks and contracts in progress | 3 | €11,408 | €8,324 | -€3,084 | -27.0% |
| Stocks | 30/36 | €11,408 | €8,324 | -€3,084 | -27.0% |
| Amounts receivable within one year | 40/41 | €21,310 | €27,584 | +€6,274 | +29.4% |
| Trade receivables | 40 | - | €3,966 | +€3,966 | |
| Other amounts receivable | 41 | €21,310 | €23,618 | +€2,308 | +10.8% |
| Cash at bank and in hand | 54/58 | €58,523 | €95,114 | +€36,591 | +62.5% |
| Deferred charges and accrued income | 490/1 | €1,773 | €1,197 | -€577 | -32.5% |
| Total equity and liabilities | 10/49 | €162,694 | €182,945 | +€20,251 | +12.4% |
| Equity | 10/15 | €122,771 | €138,829 | +€16,058 | +13.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €104,171 | €120,229 | +€16,058 | +15.4% |
| Tax-exempt reserves | 132 | €6,198 | €4,347 | -€1,851 | -29.9% |
| Distributable reserves | 133 | €97,974 | €115,883 | +€17,909 | +18.3% |
| Provisions and deferred taxes | 16 | €1,549 | €1,087 | -€463 | -29.9% |
| Deferred taxes | 168 | €1,549 | €1,087 | -€463 | -29.9% |
| Amounts payable | 17/49 | €38,374 | €43,029 | +€4,655 | +12.1% |
| Amounts payable after more than one year | 17 | €20,435 | €12,242 | -€8,193 | -40.1% |
| Financial debts | 170/4 | €20,435 | €12,242 | -€8,193 | -40.1% |
| Amounts payable within one year | 42/48 | €16,439 | €29,187 | +€12,748 | +77.5% |
| Current portion of amounts payable after more than one year | 42 | €7,848 | €8,193 | +€345 | +4.4% |
| Trade debts | 44 | €816 | €6,557 | +€5,741 | +703% |
| Suppliers | 440/4 | €816 | €6,557 | +€5,741 | +703% |
| Taxes, remuneration and social security | 45 | €7,775 | €14,437 | +€6,662 | +85.7% |
| Taxes | 450/3 | €7,775 | €14,437 | +€6,662 | +85.7% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,600 | +€100 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,243 | €18,954 | +€1,711 | +9.9% |
| Other operating charges | 640/8 | €10,422 | €10,104 | -€318 | -3.0% |
| Gross operating margin | 9900 | €41,237 | €50,722 | +€9,484 | +23.0% |
| Operating profit (loss) | 9901 | €13,573 | €21,664 | +€8,092 | +59.6% |
| Financial income | 75/76B | €1,082 | €967 | -€115 | -10.6% |
| Recurring financial income | 75 | €1,082 | €967 | -€115 | -10.6% |
| Financial charges | 65/66B | €2,078 | €2,017 | -€61 | -2.9% |
| Recurring financial charges | 65 | €2,078 | €2,017 | -€61 | -2.9% |
| Profit (loss) for the period before taxes | 9903 | €12,577 | €20,614 | +€8,038 | +63.9% |
| Transfer from deferred taxes | 780 | €463 | €463 | = | 0.0% |
| Income taxes | 67/77 | €4,387 | €5,019 | +€632 | +14.4% |
| Profit (loss) for the period | 9904 | €8,652 | €16,058 | +€7,406 | +85.6% |
| Transfer from tax-exempt reserves | 789 | €1,851 | €1,851 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,503 | €17,909 | +€7,406 | +70.5% |
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 14 October 2026 via checked.be.