Definad: 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.
Definad
Largest movements
- Receivables within one year -€45,967
down €45,967 (-75.6%), from €60,774 to €14,807
of which Other amounts receivable: -€46,026
- Current investments +€25,000
new in 2025: €25,000
- Cash -€13,758
down €13,758 (-18.7%), from €73,375 to €59,617
mainly Contributions, distributions and other (-€173,213) and Current investments (-€25,000)
- Reserves -€118,000
down €118,000 (-98.2%), from €120,103 to €2,103
- Other debts +€97,970
new in 2025: €97,970
- Tax, wage and social debts -€7,327
down €7,327 (-64.1%), from €11,425 to €4,098
- Debts after one year -€4,528
down €4,528 (-33.5%), from €13,536 to €9,008
- Trade debts -€3,785
down €3,785 (-68.1%), from €5,559 to €1,775
- Gross operating margin +€40,222
up €40,222 (+110.5%), from €36,404 to €76,626
- Taxes +€7,406
up €7,406 (+78.1%), from €9,480 to €16,886
- Financial income -€1,791
down €1,791 (-54.0%), from €3,315 to €1,524
- Other operating charges +€1,064
up €1,064 (+72.6%), from €1,466 to €2,530
- Financial charges +€883
up €883 (+45.1%), from €1,956 to €2,840
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 | €157,900 | €122,481 | -€35,418 | -22.4% |
| Fixed assets | 21/28 | €21,680 | €21,248 | -€432 | -2.0% |
| Tangible fixed assets | 22/27 | €21,680 | €20,998 | -€682 | -3.1% |
| Land and buildings | 22 | €21,680 | €20,998 | -€682 | -3.1% |
| Financial fixed assets | 28 | - | €250 | +€250 | |
| Current assets | 29/58 | €136,220 | €101,233 | -€34,986 | -25.7% |
| Amounts receivable within one year | 40/41 | €60,774 | €14,807 | -€45,967 | -75.6% |
| Trade receivables | 40 | €14,748 | €14,807 | +€59 | +0.4% |
| Other amounts receivable | 41 | €46,026 | €0 | -€46,026 | -100.0% |
| Current investments | 50/53 | - | €25,000 | +€25,000 | |
| Cash at bank and in hand | 54/58 | €73,375 | €59,617 | -€13,758 | -18.7% |
| Deferred charges and accrued income | 490/1 | €2,071 | €1,809 | -€262 | -12.7% |
| Total equity and liabilities | 10/49 | €157,900 | €122,481 | -€35,418 | -22.4% |
| Equity | 10/15 | €123,103 | €5,103 | -€118,000 | -95.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €120,103 | €2,103 | -€118,000 | -98.2% |
| Distributable reserves | 133 | €120,103 | €2,103 | -€118,000 | -98.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €34,797 | €117,378 | +€82,582 | +237.3% |
| Amounts payable after more than one year | 17 | €13,536 | €9,008 | -€4,528 | -33.5% |
| Financial debts | 170/4 | €13,536 | €9,008 | -€4,528 | -33.5% |
| Amounts payable within one year | 42/48 | €21,261 | €108,371 | +€87,110 | +409.7% |
| Current portion of amounts payable after more than one year | 42 | €4,276 | €4,528 | +€252 | +5.9% |
| Trade debts | 44 | €5,559 | €1,775 | -€3,785 | -68.1% |
| Suppliers | 440/4 | €5,559 | €1,775 | -€3,785 | -68.1% |
| Taxes, remuneration and social security | 45 | €11,425 | €4,098 | -€7,327 | -64.1% |
| Taxes | 450/3 | €11,425 | €4,098 | -€7,327 | -64.1% |
| Other amounts payable | 47/48 | - | €97,970 | +€97,970 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €682 | €682 | = | 0.0% |
| Other operating charges | 640/8 | €1,466 | €2,530 | +€1,064 | +72.6% |
| Non-recurring operating charges | 66A | €1,004 | €0 | -€1,004 | -100.0% |
| Gross operating margin | 9900 | €36,404 | €76,626 | +€40,222 | +110.5% |
| Operating profit (loss) | 9901 | €33,252 | €73,414 | +€40,162 | +120.8% |
| Financial income | 75/76B | €3,315 | €1,524 | -€1,791 | -54.0% |
| Recurring financial income | 75 | €3,315 | €1,524 | -€1,791 | -54.0% |
| Financial charges | 65/66B | €1,956 | €2,840 | +€883 | +45.1% |
| Recurring financial charges | 65 | €1,956 | €2,840 | +€883 | +45.1% |
| Profit (loss) for the period before taxes | 9903 | €34,611 | €72,099 | +€37,488 | +108.3% |
| Income taxes | 67/77 | €9,480 | €16,886 | +€7,406 | +78.1% |
| Profit (loss) for the period | 9904 | €25,131 | €55,213 | +€30,081 | +119.7% |
| Profit (loss) for the period to be appropriated | 9905 | €25,131 | €55,213 | +€30,081 | +119.7% |
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.