Deficon: 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.
Deficon
Largest movements
- Tangible fixed assets -€30,220
down €30,220 (-6.1%), from €495,415 to €465,195
of which Land and buildings: -€17,140
- Receivables within one year +€15,370
up €15,370 (+105.1%), from €14,618 to €29,988
of which Trade receivables: +€9,914
- Receivables after one year +€13,809
new in 2025: €13,809
- Cash +€11,710
up €11,710 (+188.0%), from €6,228 to €17,938
mainly Net result for the year (+€66,767) and Depreciation (+€30,220)
- Reserves +€66,767
up €66,767 (+59.3%), from €112,636 to €179,403
- Debts after one year -€51,960
down €51,960 (-16.6%), from €312,618 to €260,658
- Gross operating margin +€35,988
up €35,988 (+38.1%), from €94,350 to €130,338
- Taxes +€8,519
up €8,519 (+81.1%), from €10,511 to €19,030
- Financial charges -€2,460
down €2,460 (-16.4%), from €15,034 to €12,575
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 | €517,343 | €528,133 | +€10,790 | +2.1% |
| Fixed assets | 21/28 | €495,415 | €465,195 | -€30,220 | -6.1% |
| Tangible fixed assets | 22/27 | €495,415 | €465,195 | -€30,220 | -6.1% |
| Land and buildings | 22 | €474,676 | €457,535 | -€17,140 | -3.6% |
| Plant, machinery and equipment | 23 | €848 | €487 | -€360 | -42.5% |
| Furniture and vehicles | 24 | €19,481 | €6,826 | -€12,655 | -65.0% |
| Other tangible fixed assets | 26 | €411 | €346 | -€65 | -15.8% |
| Current assets | 29/58 | €21,928 | €62,938 | +€41,010 | +187.0% |
| Amounts receivable after more than one year | 29 | - | €13,809 | +€13,809 | |
| Trade receivables | 290 | - | €13,809 | +€13,809 | |
| Amounts receivable within one year | 40/41 | €14,618 | €29,988 | +€15,370 | +105.1% |
| Trade receivables | 40 | €14,611 | €24,525 | +€9,914 | +67.9% |
| Other amounts receivable | 41 | €7 | €5,463 | +€5,456 | +75149.0% |
| Cash at bank and in hand | 54/58 | €6,228 | €17,938 | +€11,710 | +188.0% |
| Deferred charges and accrued income | 490/1 | €1,082 | €1,203 | +€121 | +11.2% |
| Total equity and liabilities | 10/49 | €517,343 | €528,133 | +€10,790 | +2.1% |
| Equity | 10/15 | €117,636 | €184,403 | +€66,767 | +56.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €112,636 | €179,403 | +€66,767 | +59.3% |
| Distributable reserves | 133 | €112,636 | €179,403 | +€66,767 | +59.3% |
| Amounts payable | 17/49 | €399,706 | €343,729 | -€55,977 | -14.0% |
| Amounts payable after more than one year | 17 | €312,618 | €260,658 | -€51,960 | -16.6% |
| Financial debts | 170/4 | €312,618 | €260,658 | -€51,960 | -16.6% |
| Amounts payable within one year | 42/48 | €85,982 | €81,917 | -€4,065 | -4.7% |
| Current portion of amounts payable after more than one year | 42 | €54,772 | €51,960 | -€2,812 | -5.1% |
| Trade debts | 44 | €1,598 | €1,941 | +€343 | +21.5% |
| Suppliers | 440/4 | €1,598 | €1,941 | +€343 | +21.5% |
| Taxes, remuneration and social security | 45 | €21,659 | €25,038 | +€3,379 | +15.6% |
| Taxes | 450/3 | €19,334 | €22,713 | +€3,379 | +17.5% |
| Remuneration and social security | 454/9 | €2,325 | €2,325 | = | 0.0% |
| Other amounts payable | 47/48 | €7,953 | €2,977 | -€4,975 | -62.6% |
| Accrued charges and deferred income | 492/3 | €1,107 | €1,155 | +€48 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,208 | €30,220 | +€13 | 0.0% |
| Other operating charges | 640/8 | €1,742 | €1,772 | +€30 | +1.7% |
| Gross operating margin | 9900 | €94,350 | €130,338 | +€35,988 | +38.1% |
| Operating profit (loss) | 9901 | €62,401 | €98,346 | +€35,945 | +57.6% |
| Financial income | 75/76B | €0 | €25 | +€25 | +126400.0% |
| Recurring financial income | 75 | €0 | €25 | +€25 | +126400.0% |
| Financial charges | 65/66B | €15,034 | €12,575 | -€2,460 | -16.4% |
| Recurring financial charges | 65 | €15,034 | €12,575 | -€2,460 | -16.4% |
| Profit (loss) for the period before taxes | 9903 | €47,366 | €85,797 | +€38,430 | +81.1% |
| Income taxes | 67/77 | €10,511 | €19,030 | +€8,519 | +81.1% |
| Profit (loss) for the period | 9904 | €36,856 | €66,767 | +€29,911 | +81.2% |
| Profit (loss) for the period to be appropriated | 9905 | €36,856 | €66,767 | +€29,911 | +81.2% |
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 8 October 2026 via checked.be.