DEFI ELEC: 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 ELEC
Largest movements
- Receivables within one year +€34,340
up €34,340 (+42.1%), from €81,484 to €115,824
of which Trade receivables: +€42,266
- Cash -€14,169
down €14,169 (-15.4%), from €91,845 to €77,677
mainly Contributions, distributions and other (-€70,262) and Receivables within one year (-€34,340)
- Deferred charges and accrued income +€13,846
up €13,846 (+184%), from €7,521 to €21,367
- Tangible fixed assets -€10,290
down €10,290 (-10.3%), from €99,882 to €89,592
of which Leasing and similar rights: -€17,361
- Profit (loss) carried forward +€46,605
no longer reported in 2025 (was -€46,605)
- Reserves -€43,866
down €43,866 (-17.8%), from €246,824 to €202,958
- Trade debts +€36,364
up €36,364 (+130%), from €28,043 to €64,407
- Debts after one year -€14,752
down €14,752 (-66.3%), from €22,267 to €7,515
- Tax, wage and social debts +€3,825
up €3,825 (+19.7%), from €19,397 to €23,221
- Gross operating margin +€123,742
up €123,742 (+34.9%), from €355,035 to €478,776
- Staff costs +€61,593
up €61,593 (+20.8%), from €295,816 to €357,410
- Taxes +€11,905
up €11,905 (+3,673%), from €324 to €12,229
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 | €321,905 | €346,020 | +€24,114 | +7.5% |
| Fixed assets | 21/28 | €100,799 | €91,609 | -€9,190 | -9.1% |
| Tangible fixed assets | 22/27 | €99,882 | €89,592 | -€10,290 | -10.3% |
| Land and buildings | 22 | €45,794 | €48,988 | +€3,194 | +7.0% |
| Plant, machinery and equipment | 23 | €1,097 | €6,646 | +€5,549 | +506% |
| Furniture and vehicles | 24 | €13,774 | €12,102 | -€1,672 | -12.1% |
| Leasing and similar rights | 25 | €39,216 | €21,855 | -€17,361 | -44.3% |
| Financial fixed assets | 28 | €917 | €2,017 | +€1,100 | +120% |
| Current assets | 29/58 | €221,107 | €254,411 | +€33,304 | +15.1% |
| Stocks and contracts in progress | 3 | €40,256 | €39,543 | -€713 | -1.8% |
| Stocks | 30/36 | €40,256 | €39,543 | -€713 | -1.8% |
| Amounts receivable within one year | 40/41 | €81,484 | €115,824 | +€34,340 | +42.1% |
| Trade receivables | 40 | €53,537 | €95,803 | +€42,266 | +78.9% |
| Other amounts receivable | 41 | €27,947 | €20,021 | -€7,926 | -28.4% |
| Cash at bank and in hand | 54/58 | €91,845 | €77,677 | -€14,169 | -15.4% |
| Deferred charges and accrued income | 490/1 | €7,521 | €21,367 | +€13,846 | +184% |
| Total equity and liabilities | 10/49 | €321,905 | €346,020 | +€24,114 | +7.5% |
| Equity | 10/15 | €220,679 | €223,418 | +€2,739 | +1.2% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €246,824 | €202,958 | -€43,866 | -17.8% |
| Distributable reserves | 133 | €246,824 | €202,958 | -€43,866 | -17.8% |
| Profit (loss) carried forward | 14 | -€46,605 | - | +€46,605 | |
| Amounts payable | 17/49 | €101,227 | €122,602 | +€21,375 | +21.1% |
| Amounts payable after more than one year | 17 | €22,267 | €7,515 | -€14,752 | -66.3% |
| Financial debts | 170/4 | €22,267 | €7,515 | -€14,752 | -66.3% |
| Amounts payable within one year | 42/48 | €78,959 | €115,087 | +€36,128 | +45.8% |
| Current portion of amounts payable after more than one year | 42 | €17,462 | €14,398 | -€3,063 | -17.5% |
| Financial debts | 43 | €927 | €1,990 | +€1,063 | +115% |
| Credit institutions | 430/8 | €927 | €1,990 | +€1,063 | +115% |
| Trade debts | 44 | €28,043 | €64,407 | +€36,364 | +130% |
| Suppliers | 440/4 | €28,043 | €64,407 | +€36,364 | +130% |
| Taxes, remuneration and social security | 45 | €19,397 | €23,221 | +€3,825 | +19.7% |
| Remuneration and social security | 454/9 | €19,397 | €23,221 | +€3,825 | +19.7% |
| Other amounts payable | 47/48 | €13,131 | €11,070 | -€2,061 | -15.7% |
| Non-recurring operating income | 76A | €8,073 | - | -€8,073 | |
| Remuneration, social security and pensions | 62 | €295,816 | €357,410 | +€61,593 | +20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,982 | €28,973 | +€1,991 | +7.4% |
| Other operating charges | 640/8 | €5,506 | €5,453 | -€53 | -1.0% |
| Gross operating margin | 9900 | €355,035 | €478,776 | +€123,742 | +34.9% |
| Operating profit (loss) | 9901 | €26,730 | €86,940 | +€60,210 | +225% |
| Financial income | 75/76B | €2,421 | €242 | -€2,178 | -90.0% |
| Recurring financial income | 75 | €2,421 | €242 | -€2,178 | -90.0% |
| Financial charges | 65/66B | €2,911 | €1,953 | -€958 | -32.9% |
| Recurring financial charges | 65 | €2,911 | €1,953 | -€958 | -32.9% |
| Profit (loss) for the period before taxes | 9903 | €26,240 | €85,230 | +€58,990 | +225% |
| Income taxes | 67/77 | €324 | €12,229 | +€11,905 | +3,673% |
| Profit (loss) for the period | 9904 | €25,916 | €73,001 | +€47,085 | +182% |
| Profit (loss) for the period to be appropriated | 9905 | €25,916 | €73,001 | +€47,085 | +182% |
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 23 October 2026 via checked.be.