DEFIMAD: 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.
DEFIMAD
Largest movements
- Tangible fixed assets -€23,588
down €23,588 (-13.9%), from €170,243 to €146,655
of which Land and buildings: -€31,201
- Receivables within one year -€13,489
down €13,489 (-15.3%), from €88,232 to €74,743
of which Other amounts receivable: -€17,491
- Debts after one year -€23,854
down €23,854 (-40.1%), from €59,515 to €35,661
- Reserves -€15,694
down €15,694 (-14.1%), from €111,703 to €96,008
- Gross operating margin -€10,852
down €10,852 (-31.3%), from €34,683 to €23,831
- Other operating charges +€1,765
up €1,765 (+92.4%), from €1,909 to €3,674
- Financial income -€1,491
down €1,491 (-23.4%), from €6,379 to €4,887
- Financial charges +€649
up €649 (+9.9%), from €6,565 to €7,214
- Depreciation +€573
up €573 (+1.8%), from €31,201 to €31,775
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 | €259,380 | €221,539 | -€37,841 | -14.6% |
| Fixed assets | 21/28 | €170,243 | €146,655 | -€23,588 | -13.9% |
| Tangible fixed assets | 22/27 | €170,243 | €146,655 | -€23,588 | -13.9% |
| Land and buildings | 22 | €166,963 | €135,761 | -€31,201 | -18.7% |
| Plant, machinery and equipment | 23 | - | €10,894 | +€10,894 | |
| Assets under construction and advance payments | 27 | €3,280 | - | -€3,280 | |
| Current assets | 29/58 | €89,137 | €74,884 | -€14,253 | -16.0% |
| Amounts receivable within one year | 40/41 | €88,232 | €74,743 | -€13,489 | -15.3% |
| Trade receivables | 40 | €1,853 | €5,856 | +€4,003 | +216.0% |
| Other amounts receivable | 41 | €86,379 | €68,887 | -€17,491 | -20.2% |
| Cash at bank and in hand | 54/58 | €905 | €141 | -€765 | -84.4% |
| Total equity and liabilities | 10/49 | €259,380 | €221,539 | -€37,841 | -14.6% |
| Equity | 10/15 | €130,303 | €114,608 | -€15,694 | -12.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €111,703 | €96,008 | -€15,694 | -14.1% |
| Distributable reserves | 133 | €111,703 | €96,008 | -€15,694 | -14.1% |
| Amounts payable | 17/49 | €129,077 | €106,930 | -€22,147 | -17.2% |
| Amounts payable after more than one year | 17 | €59,515 | €35,661 | -€23,854 | -40.1% |
| Financial debts | 170/4 | €59,515 | €35,661 | -€23,854 | -40.1% |
| Amounts payable within one year | 42/48 | €69,562 | €71,269 | +€1,707 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | €34,932 | €35,846 | +€914 | +2.6% |
| Trade debts | 44 | €126 | €386 | +€260 | +206.2% |
| Suppliers | 440/4 | €126 | €386 | +€260 | +206.2% |
| Taxes, remuneration and social security | 45 | €1,242 | €1,631 | +€389 | +31.3% |
| Taxes | 450/3 | €1,242 | €1,631 | +€389 | +31.3% |
| Other amounts payable | 47/48 | €33,261 | €33,406 | +€145 | +0.4% |
| Non-recurring operating income | 76A | €3,731 | - | -€3,731 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,201 | €31,775 | +€573 | +1.8% |
| Other operating charges | 640/8 | €1,909 | €3,674 | +€1,765 | +92.4% |
| Gross operating margin | 9900 | €34,683 | €23,831 | -€10,852 | -31.3% |
| Operating profit (loss) | 9901 | €1,572 | -€11,618 | -€13,190 | |
| Financial income | 75/76B | €6,379 | €4,887 | -€1,491 | -23.4% |
| Recurring financial income | 75 | €6,379 | €4,887 | -€1,491 | -23.4% |
| Financial charges | 65/66B | €6,565 | €7,214 | +€649 | +9.9% |
| Recurring financial charges | 65 | €6,565 | €7,214 | +€649 | +9.9% |
| Profit (loss) for the period before taxes | 9903 | €1,386 | -€13,944 | -€15,330 | |
| Income taxes | 67/77 | €160 | - | -€160 | |
| Profit (loss) for the period | 9904 | €1,226 | -€13,944 | -€15,170 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,226 | -€13,944 | -€15,170 |
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 11 October 2026 via checked.be.