DEFLIN: what changed
What changed
DEFLIN
NACE 66.199, Other activities auxiliary to financial services, excluding insurance and pension funding
filed annual accounts (NBB)
Net result for the year
€270,845
2024 · €193,858+€76,987
Equity
€809,070
2024 · €638,225+€170,845
Cash
€215,419
2024 · €265,750-€50,331
Balance sheet total
€1.4m
2024 · €947,244+€406,332
Largest movements
Assets
- Tangible fixed assets +€407,583
up €407,583 (+878%), from €46,444 to €454,027
of which Land and buildings: +€246,912
- Cash -€50,331
down €50,331 (-18.9%), from €265,750 to €215,419
mainly Investment in fixed assets (net) (-€426,808) and Contributions, distributions and other (-€100,000)
- Receivables within one year +€46,949
up €46,949 (+76.5%), from €61,336 to €108,285
of which Other amounts receivable: +€49,150
Equity and liabilities
- Debts after one year +€266,482
up €266,482 (+221%), from €120,499 to €386,981
- Reserves +€170,000
up €170,000 (+31.9%), from €533,000 to €703,000
- Other debts -€21,476
down €21,476 (-21.5%), from €100,000 to €78,524
Income statement
- Financial income +€100,000
new in 2025: €100,000
- Taxes +€9,779
up €9,779 (+13.4%), from €73,140 to €82,918
- Gross operating margin -€9,140
down €9,140 (-2.3%), from €389,612 to €380,472
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€193,858
Gross operating margin
-€9,140
Depreciation
-€623
Other operating charges
+€390
Financial income
+€100,000
Financial charges
-€3,861
Taxes
-€9,779
Result 2025
€270,845
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€214,194
Investment
-€426,808
Financing
+€162,284
Cash 2024
€265,750
From operations (derived)
+€214,194
Net result for the year
+€270,845
Depreciation
+€19,225
Receivables within one year
-€46,949
Deferred charges and accrued income
-€2,130
Trade debts
-€1,453
Tax, wage and social debts
-€5,456
Other debts
-€21,476
Accrued charges and deferred income
+€1,589
Investment (derived)
-€426,808
Investment in fixed assets (net)
-€426,808
Financing
+€162,284
Debts after one year
+€266,482
Current portion of long-term debt
-€4,198
Contributions, distributions and other
-€100,000
Cash 2025
€215,419
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €947,244 | €1,353,576 | +€406,332 | +42.9% |
| Fixed assets | 21/28 | €620,159 | €1,027,742 | +€407,583 | +65.7% |
| Tangible fixed assets | 22/27 | €46,444 | €454,027 | +€407,583 | +878% |
| Land and buildings | 22 | - | €246,912 | +€246,912 | |
| Furniture and vehicles | 24 | €46,444 | €31,760 | -€14,684 | -31.6% |
| Assets under construction and advance payments | 27 | - | €175,355 | +€175,355 | |
| Financial fixed assets | 28 | €573,715 | €573,715 | = | 0.0% |
| Current assets | 29/58 | €327,085 | €325,834 | -€1,251 | -0.4% |
| Amounts receivable within one year | 40/41 | €61,336 | €108,285 | +€46,949 | +76.5% |
| Trade receivables | 40 | €38,500 | €36,300 | -€2,200 | -5.7% |
| Other amounts receivable | 41 | €22,835 | €71,985 | +€49,150 | +215% |
| Cash at bank and in hand | 54/58 | €265,750 | €215,419 | -€50,331 | -18.9% |
| Deferred charges and accrued income | 490/1 | €0 | €2,130 | +€2,130 | |
| Total equity and liabilities | 10/49 | €947,244 | €1,353,576 | +€406,332 | +42.9% |
| Equity | 10/15 | €638,225 | €809,070 | +€170,845 | +26.8% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €533,000 | €703,000 | +€170,000 | +31.9% |
| Distributable reserves | 133 | €533,000 | €703,000 | +€170,000 | +31.9% |
| Profit (loss) carried forward | 14 | €5,225 | €6,070 | +€845 | +16.2% |
| Amounts payable | 17/49 | €309,019 | €544,506 | +€235,487 | +76.2% |
| Amounts payable after more than one year | 17 | €120,499 | €386,981 | +€266,482 | +221% |
| Financial debts | 170/4 | €120,499 | €386,981 | +€266,482 | +221% |
| Amounts payable within one year | 42/48 | €188,520 | €155,936 | -€32,584 | -17.3% |
| Current portion of amounts payable after more than one year | 42 | €60,356 | €56,158 | -€4,198 | -7.0% |
| Trade debts | 44 | €2,590 | €1,137 | -€1,453 | -56.1% |
| Suppliers | 440/4 | €2,590 | €1,137 | -€1,453 | -56.1% |
| Taxes, remuneration and social security | 45 | €25,575 | €20,118 | -€5,456 | -21.3% |
| Taxes | 450/3 | €25,575 | €20,118 | -€5,456 | -21.3% |
| Other amounts payable | 47/48 | €100,000 | €78,524 | -€21,476 | -21.5% |
| Accrued charges and deferred income | 492/3 | - | €1,589 | +€1,589 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,602 | €19,225 | +€623 | +3.3% |
| Other operating charges | 640/8 | €2,465 | €2,075 | -€390 | -15.8% |
| Gross operating margin | 9900 | €389,612 | €380,472 | -€9,140 | -2.3% |
| Operating profit (loss) | 9901 | €368,545 | €359,172 | -€9,373 | -2.5% |
| Financial income | 75/76B | - | €100,000 | +€100,000 | |
| Recurring financial income | 75 | - | €100,000 | +€100,000 | |
| Financial charges | 65/66B | €101,547 | €105,408 | +€3,861 | +3.8% |
| Recurring financial charges | 65 | €101,547 | €105,408 | +€3,861 | +3.8% |
| Profit (loss) for the period before taxes | 9903 | €266,998 | €353,763 | +€86,766 | +32.5% |
| Income taxes | 67/77 | €73,140 | €82,918 | +€9,779 | +13.4% |
| Profit (loss) for the period | 9904 | €193,858 | €270,845 | +€76,987 | +39.7% |
| Profit (loss) for the period to be appropriated | 9905 | €193,858 | €270,845 | +€76,987 | +39.7% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.