DEFI Management: 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 Management
Largest movements
- Cash +€87,696
up €87,696 (+27.4%), from €320,070 to €407,766
mainly Net result for the year (+€92,714) and Other debts (+€65,578)
- Receivables within one year +€29,753
up €29,753 (+572.5%), from €5,197 to €34,950
of which Other amounts receivable: +€26,123
- Tangible fixed assets +€6,943
up €6,943 (+205.8%), from €3,373 to €10,316
of which Furniture and vehicles: +€6,943
- Other debts +€65,578
up €65,578, from €0 to €65,578
- Short-term financial debts +€37,372
up €37,372, from €0 to €37,372
- Reserves +€27,136
up €27,136 (+9.4%), from €290,144 to €317,280
of which Distributable reserves: +€27,136
- Tax, wage and social debts -€12,009
down €12,009 (-29.4%), from €40,851 to €28,842
- Trade debts +€8,155
up €8,155 (+159.9%), from €5,100 to €13,254
- Gross operating margin +€49,377
up €49,377 (+52.3%), from €94,341 to €143,718
- Taxes +€19,451
up €19,451 (+69.9%), from €27,829 to €47,281
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 | €344,425 | €469,345 | +€124,921 | +36.3% |
| Fixed assets | 21/28 | €3,373 | €10,316 | +€6,943 | +205.8% |
| Tangible fixed assets | 22/27 | €3,373 | €10,316 | +€6,943 | +205.8% |
| Furniture and vehicles | 24 | €3,373 | €10,316 | +€6,943 | +205.8% |
| Other tangible fixed assets | 26 | €0 | €0 | = | 0.0% |
| Current assets | 29/58 | €341,051 | €459,029 | +€117,977 | +34.6% |
| Amounts receivable within one year | 40/41 | €5,197 | €34,950 | +€29,753 | +572.5% |
| Trade receivables | 40 | €0 | €3,630 | +€3,630 | |
| Other amounts receivable | 41 | €5,197 | €31,320 | +€26,123 | +502.6% |
| Current investments | 50/53 | €5,000 | €5,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €320,070 | €407,766 | +€87,696 | +27.4% |
| Deferred charges and accrued income | 490/1 | €10,785 | €11,313 | +€528 | +4.9% |
| Total equity and liabilities | 10/49 | €344,425 | €469,345 | +€124,921 | +36.3% |
| Equity | 10/15 | €296,344 | €323,480 | +€27,136 | +9.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €290,144 | €317,280 | +€27,136 | +9.4% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €288,289 | €315,425 | +€27,136 | +9.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €48,081 | €145,865 | +€97,785 | +203.4% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €47,507 | €145,047 | +€97,540 | +205.3% |
| Current portion of amounts payable after more than one year | 42 | €1,555 | €0 | -€1,555 | -100.0% |
| Financial debts | 43 | €0 | €37,372 | +€37,372 | |
| Credit institutions | 430/8 | €0 | €37,372 | +€37,372 | |
| Trade debts | 44 | €5,100 | €13,254 | +€8,155 | +159.9% |
| Suppliers | 440/4 | €5,100 | €13,254 | +€8,155 | +159.9% |
| Taxes, remuneration and social security | 45 | €40,851 | €28,842 | -€12,009 | -29.4% |
| Taxes | 450/3 | €40,851 | €28,842 | -€12,009 | -29.4% |
| Other amounts payable | 47/48 | €0 | €65,578 | +€65,578 | |
| Accrued charges and deferred income | 492/3 | €574 | €818 | +€244 | +42.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,644 | €1,757 | -€888 | -33.6% |
| Other operating charges | 640/8 | €1,074 | €962 | -€112 | -10.4% |
| Gross operating margin | 9900 | €94,341 | €143,718 | +€49,377 | +52.3% |
| Operating profit (loss) | 9901 | €90,622 | €140,999 | +€50,377 | +55.6% |
| Financial income | 75/76B | €496 | €1,397 | +€901 | +181.5% |
| Recurring financial income | 75 | €496 | €1,397 | +€901 | +181.5% |
| Financial charges | 65/66B | €2,993 | €2,402 | -€592 | -19.8% |
| Recurring financial charges | 65 | €2,993 | €2,402 | -€592 | -19.8% |
| Profit (loss) for the period before taxes | 9903 | €88,125 | €139,995 | +€51,869 | +58.9% |
| Income taxes | 67/77 | €27,829 | €47,281 | +€19,451 | +69.9% |
| Profit (loss) for the period | 9904 | €60,296 | €92,714 | +€32,418 | +53.8% |
| Profit (loss) for the period to be appropriated | 9905 | €60,296 | €92,714 | +€32,418 | +53.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.