DEFINIM: 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.
DEFINIM
Largest movements
- Current investments +€75,456
up €75,456 (+20.1%), from €375,273 to €450,729
- Cash +€33,003
up €33,003 (+182.5%), from €18,082 to €51,085
mainly Net result for the year (+€112,701) and Other debts (+€63,429)
- Tangible fixed assets +€8,707
new in 2025: €8,707
- Other debts +€63,429
up €63,429 (+645.9%), from €9,821 to €73,250
- Reserves +€29,789
up €29,789 (+8.1%), from €368,125 to €397,914
of which Distributable reserves: +€29,789
- Tax, wage and social debts +€25,397
up €25,397 (+206.1%), from €12,320 to €37,717
- Gross operating margin +€43,044
up €43,044 (+38.2%), from €112,690 to €155,735
- Taxes +€15,397
up €15,397 (+48.6%), from €31,693 to €47,090
- Financial income +€4,456
up €4,456 (+339.9%), from €1,311 to €5,767
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 | €411,736 | €529,869 | +€118,133 | +28.7% |
| Fixed assets | 21/28 | - | €8,707 | +€8,707 | |
| Tangible fixed assets | 22/27 | - | €8,707 | +€8,707 | |
| Furniture and vehicles | 24 | - | €8,707 | +€8,707 | |
| Current assets | 29/58 | €411,736 | €521,162 | +€109,426 | +26.6% |
| Amounts receivable within one year | 40/41 | €17,994 | €18,833 | +€839 | +4.7% |
| Trade receivables | 40 | €17,994 | €18,833 | +€839 | +4.7% |
| Current investments | 50/53 | €375,273 | €450,729 | +€75,456 | +20.1% |
| Cash at bank and in hand | 54/58 | €18,082 | €51,085 | +€33,003 | +182.5% |
| Deferred charges and accrued income | 490/1 | €387 | €516 | +€129 | +33.2% |
| Total equity and liabilities | 10/49 | €411,736 | €529,869 | +€118,133 | +28.7% |
| Equity | 10/15 | €386,725 | €416,514 | +€29,789 | +7.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €368,125 | €397,914 | +€29,789 | +8.1% |
| Tax-exempt reserves | 132 | €6,434 | €6,434 | = | 0.0% |
| Distributable reserves | 133 | €361,691 | €391,480 | +€29,789 | +8.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €25,011 | €113,356 | +€88,345 | +353.2% |
| Amounts payable within one year | 42/48 | €24,458 | €112,442 | +€87,983 | +359.7% |
| Trade debts | 44 | €2,317 | €1,474 | -€843 | -36.4% |
| Suppliers | 440/4 | €2,317 | €1,474 | -€843 | -36.4% |
| Taxes, remuneration and social security | 45 | €12,320 | €37,717 | +€25,397 | +206.1% |
| Taxes | 450/3 | €12,320 | €37,717 | +€25,397 | +206.1% |
| Other amounts payable | 47/48 | €9,821 | €73,250 | +€63,429 | +645.9% |
| Accrued charges and deferred income | 492/3 | €552 | €914 | +€362 | +65.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €408 | +€408 | |
| Other operating charges | 640/8 | €238 | €224 | -€13 | -5.6% |
| Gross operating margin | 9900 | €112,690 | €155,735 | +€43,044 | +38.2% |
| Operating profit (loss) | 9901 | €112,452 | €155,102 | +€42,650 | +37.9% |
| Financial income | 75/76B | €1,311 | €5,767 | +€4,456 | +339.9% |
| Recurring financial income | 75 | €1,311 | €5,767 | +€4,456 | +339.9% |
| Financial charges | 65/66B | €716 | €1,079 | +€363 | +50.6% |
| Recurring financial charges | 65 | €716 | €1,079 | +€363 | +50.6% |
| Profit (loss) for the period before taxes | 9903 | €113,047 | €159,791 | +€46,743 | +41.3% |
| Income taxes | 67/77 | €31,693 | €47,090 | +€15,397 | +48.6% |
| Profit (loss) for the period | 9904 | €81,354 | €112,701 | +€31,346 | +38.5% |
| Profit (loss) for the period to be appropriated | 9905 | €81,354 | €112,701 | +€31,346 | +38.5% |
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 7 October 2026 via checked.be.