DEFINCO: 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.
What changed
DEFINCO
NACE 70.100, Activities of head offices
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€133,592
2024 · €3.1m-€3.0m
Equity
€14.5m
2024 · €14.3m+€133,592
Cash
€1.5m
2024 · €84,911+€1.4m
Balance sheet total
€26.2m
2024 · €26.5m-€303,299
Largest movements
Assets
- Receivables within one year -€1.9m
down €1.9m (-42.1%), from €4.4m to €2.6m
of which Other amounts receivable: -€1.3m
- Cash +€1.4m
up €1.4m (+1,656%), from €84,911 to €1.5m
mainly Receivables within one year (+€1.9m) and Trade debts (+€217,542)
Equity and liabilities
- Other debts -€479,558
down €479,558 (-19.5%), from €2.5m to €2.0m
Income statement
- Financial income -€3.0m
down €3.0m (-93.4%), from €3.2m to €213,154
- Services and other goods +€1.1m
up €1.1m (+24.0%), from €4.8m to €5.9m
- Depreciation -€622,423
down €622,423 (-99.8%), from €623,941 to €1,518
- Turnover +€541,904
up €541,904 (+8.7%), from €6.3m to €6.8m
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.
Result 2024
€3.1m
Turnover
+€541,904
Other operating income
+€1,896
Services and other goods
-€1.1m
Staff costs
-€12,086
Depreciation
+€622,423
Other operating charges
-€1,012
Financial income
-€3.0m
Financial charges
+€12,690
Taxes
-€81
Result 2025
€133,592
raises the resultlowers the result
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.
From operations
+€1.7m
Investment
-€83,305
Financing
-€215,979
Cash 2024
€84,911
From operations (derived)
+€1.7m
Net result for the year
+€133,592
Depreciation
+€1,518
Receivables within one year
+€1.9m
Deferred charges and accrued income
-€64,725
Trade debts
+€217,542
Tax, wage and social debts
+€159
Other debts
-€479,558
Accrued charges and deferred income
+€40,945
Investment (derived)
-€83,305
Investment in fixed assets (net)
-€83,305
Financing
-€215,979
Debts after one year
-€216,854
Current portion of long-term debt
+€875
Cash 2025
€1.5m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €26,538,954 | €26,235,655 | -€303,299 | -1.1% |
| Fixed assets | 21/28 | €22,044,439 | €22,126,226 | +€81,787 | +0.4% |
| Tangible fixed assets | 22/27 | €2,535,973 | €2,632,060 | +€96,087 | +3.8% |
| Land and buildings | 22 | €881,297 | €1,460,876 | +€579,579 | +65.8% |
| Other tangible fixed assets | 26 | €1,654,676 | €1,100,000 | -€554,676 | -33.5% |
| Assets under construction and advance payments | 27 | - | €71,184 | +€71,184 | |
| Financial fixed assets | 28 | €19,508,467 | €19,494,166 | -€14,301 | -0.1% |
| Affiliated companies | 280/1 | €19,508,467 | €19,494,166 | -€14,301 | -0.1% |
| Participating interests | 280 | €15,237,114 | €15,237,114 | = | 0.0% |
| Amounts receivable | 281 | €4,271,352 | €4,257,052 | -€14,301 | -0.3% |
| Current assets | 29/58 | €4,494,515 | €4,109,429 | -€385,085 | -8.6% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €4,409,188 | €2,552,842 | -€1.9m | -42.1% |
| Trade receivables | 40 | €1,656,598 | €1,140,893 | -€515,706 | -31.1% |
| Other amounts receivable | 41 | €2,752,590 | €1,411,949 | -€1.3m | -48.7% |
| Cash at bank and in hand | 54/58 | €84,911 | €1,491,447 | +€1.4m | +1,656% |
| Deferred charges and accrued income | 490/1 | €416 | €65,141 | +€64,725 | +15,560% |
| Total equity and liabilities | 10/49 | €26,538,954 | €26,235,655 | -€303,299 | -1.1% |
| Equity | 10/15 | €14,341,303 | €14,474,895 | +€133,592 | +0.9% |
| Contributions | 10/11 | €9,738,295 | €9,738,295 | = | 0.0% |
| Capital | 10 | €9,738,295 | €9,738,295 | = | 0.0% |
| Issued capital | 100 | €9,738,295 | €9,738,295 | = | 0.0% |
| Reserves | 13 | €4,603,008 | €4,736,600 | +€133,592 | +2.9% |
| Non-distributable reserves | 130/1 | €476,180 | €482,860 | +€6,680 | +1.4% |
| Legal reserve | 130 | €476,180 | €482,860 | +€6,680 | +1.4% |
| Distributable reserves | 133 | €4,126,828 | €4,253,740 | +€126,912 | +3.1% |
| Amounts payable | 17/49 | €12,197,651 | €11,760,760 | -€436,890 | -3.6% |
| Amounts payable after more than one year | 17 | €8,157,166 | €7,940,312 | -€216,854 | -2.7% |
| Financial debts | 170/4 | €7,219,583 | €6,995,848 | -€223,735 | -3.1% |
| Subordinated loans | 170 | €6,000,000 | €6,000,000 | = | 0.0% |
| Credit institutions | 173 | €1,219,583 | €995,848 | -€223,735 | -18.3% |
| Other amounts payable | 178/9 | €937,583 | €944,464 | +€6,881 | +0.7% |
| Amounts payable within one year | 42/48 | €3,965,441 | €3,704,459 | -€260,982 | -6.6% |
| Current portion of amounts payable after more than one year | 42 | €222,860 | €223,735 | +€875 | +0.4% |
| Trade debts | 44 | €1,163,830 | €1,381,372 | +€217,542 | +18.7% |
| Suppliers | 440/4 | €1,163,830 | €1,381,372 | +€217,542 | +18.7% |
| Taxes, remuneration and social security | 45 | €124,153 | €124,312 | +€159 | +0.1% |
| Taxes | 450/3 | €17,702 | €17,740 | +€38 | +0.2% |
| Remuneration and social security | 454/9 | €106,451 | €106,572 | +€121 | +0.1% |
| Other amounts payable | 47/48 | €2,454,599 | €1,975,041 | -€479,558 | -19.5% |
| Accrued charges and deferred income | 492/3 | €75,044 | €115,990 | +€40,945 | +54.6% |
| Operating income | 70/76A | €6,277,639 | €6,821,439 | +€543,800 | +8.7% |
| Turnover | 70 | €6,255,809 | €6,797,712 | +€541,904 | +8.7% |
| Other operating income | 74 | €8,817 | €10,714 | +€1,896 | +21.5% |
| Non-recurring operating income | 76A | €13,013 | €13,013 | = | 0.0% |
| Operating charges | 60/66A | €5,948,003 | €6,485,268 | +€537,265 | +9.0% |
| Services and other goods | 61 | €4,786,213 | €5,932,802 | +€1.1m | +24.0% |
| Remuneration, social security and pensions | 62 | €536,570 | €548,656 | +€12,086 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €623,941 | €1,518 | -€622,423 | -99.8% |
| Other operating charges | 640/8 | €1,279 | €2,291 | +€1,012 | +79.1% |
| Operating profit (loss) | 9901 | €329,636 | €336,171 | +€6,535 | +2.0% |
| Financial income | 75/76B | €3,226,182 | €213,154 | -€3.0m | -93.4% |
| Recurring financial income | 75 | €3,226,182 | €213,154 | -€3.0m | -93.4% |
| Income from financial fixed assets | 750 | €3,213,831 | €213,132 | -€3.0m | -93.4% |
| Other financial income | 752/9 | €12,351 | €22 | -€12,329 | -99.8% |
| Financial charges | 65/66B | €427,982 | €415,293 | -€12,690 | -3.0% |
| Recurring financial charges | 65 | €427,982 | €415,293 | -€12,690 | -3.0% |
| Debt charges | 650 | €416,081 | €407,509 | -€8,572 | -2.1% |
| Other financial charges | 652/9 | €11,902 | €7,784 | -€4,118 | -34.6% |
| Profit (loss) for the period before taxes | 9903 | €3,127,836 | €134,033 | -€3.0m | -95.7% |
| Income taxes | 67/77 | €361 | €441 | +€81 | +22.3% |
| Taxes | 670/3 | €361 | €441 | +€81 | +22.3% |
| Profit (loss) for the period | 9904 | €3,127,475 | €133,592 | -€3.0m | -95.7% |
| Profit (loss) for the period to be appropriated | 9905 | €3,127,475 | €133,592 | -€3.0m | -95.7% |
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 14 October 2026 via checked.be.