DEFOBRA: 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.
DEFOBRA
Largest movements
- Current investments -€74,508
down €74,508 (-15.3%), from €487,256 to €412,747
- Tangible fixed assets +€10,911
up €10,911 (+2.7%), from €407,168 to €418,080
of which Plant, machinery and equipment: +€30,538
- Profit (loss) carried forward -€61,830
new in 2025: -€61,830
- Debts after one year -€14,741
down €14,741 (-3.8%), from €385,978 to €371,237
of which Financial debts: -€14,741
- Gross operating margin -€75,860
down €75,860, from €52,276 to -€23,584
- Financial income +€21,030
up €21,030 (+291%), from €7,224 to €28,254
- Financial charges +€6,870
up €6,870 (+34.8%), from €19,759 to €26,629
- Other operating charges +€1,607
up €1,607 (+10.3%), from €15,574 to €17,181
- Depreciation -€1,259
down €1,259 (-5.3%), from €23,721 to €22,462
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €936,020 | €874,102 | -€61,918 | -6.6% |
| Fixed assets | 21/28 | €407,168 | €418,080 | +€10,911 | +2.7% |
| Tangible fixed assets | 22/27 | €407,168 | €418,080 | +€10,911 | +2.7% |
| Land and buildings | 22 | €368,895 | €363,478 | -€5,417 | -1.5% |
| Plant, machinery and equipment | 23 | €5,308 | €35,846 | +€30,538 | +575% |
| Furniture and vehicles | 24 | €32,965 | €18,756 | -€14,210 | -43.1% |
| Current assets | 29/58 | €528,852 | €456,023 | -€72,829 | -13.8% |
| Amounts receivable within one year | 40/41 | €27,195 | €23,572 | -€3,623 | -13.3% |
| Trade receivables | 40 | - | €636 | +€636 | |
| Other amounts receivable | 41 | €27,195 | €22,936 | -€4,259 | -15.7% |
| Current investments | 50/53 | €487,256 | €412,747 | -€74,508 | -15.3% |
| Cash at bank and in hand | 54/58 | €14,401 | €19,703 | +€5,302 | +36.8% |
| Total equity and liabilities | 10/49 | €936,020 | €874,102 | -€61,918 | -6.6% |
| Equity | 10/15 | €495,056 | €433,225 | -€61,830 | -12.5% |
| Contributions | 10/11 | €227,011 | €227,011 | = | 0.0% |
| Contributions outside capital | 11 | €227,011 | €227,011 | = | 0.0% |
| Other | 1109/19 | €227,011 | €227,011 | = | 0.0% |
| Reserves | 13 | €268,045 | €268,045 | = | 0.0% |
| Non-distributable reserves | 130/1 | €22,701 | €22,701 | = | 0.0% |
| Reserves not available under the articles | 1311 | €22,701 | €22,701 | = | 0.0% |
| Distributable reserves | 133 | €245,343 | €245,343 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€61,830 | -€61,830 | |
| Amounts payable | 17/49 | €440,965 | €440,877 | -€88 | 0.0% |
| Amounts payable after more than one year | 17 | €385,978 | €371,237 | -€14,741 | -3.8% |
| Financial debts | 170/4 | €15,978 | €1,237 | -€14,741 | -92.3% |
| Other amounts payable | 178/9 | €370,000 | €370,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €36,137 | €43,740 | +€7,603 | +21.0% |
| Current portion of amounts payable after more than one year | 42 | €14,561 | €14,741 | +€180 | +1.2% |
| Taxes, remuneration and social security | 45 | €1,987 | €1,751 | -€236 | -11.9% |
| Taxes | 450/3 | €1,987 | €1,751 | -€236 | -11.9% |
| Other amounts payable | 47/48 | €19,589 | €27,248 | +€7,659 | +39.1% |
| Accrued charges and deferred income | 492/3 | €18,850 | €25,900 | +€7,050 | +37.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,721 | €22,462 | -€1,259 | -5.3% |
| Other operating charges | 640/8 | €15,574 | €17,181 | +€1,607 | +10.3% |
| Gross operating margin | 9900 | €52,276 | -€23,584 | -€75,860 | |
| Operating profit (loss) | 9901 | €12,980 | -€63,228 | -€76,208 | |
| Financial income | 75/76B | €7,224 | €28,254 | +€21,030 | +291% |
| Recurring financial income | 75 | €7,224 | €28,254 | +€21,030 | +291% |
| Financial charges | 65/66B | €19,759 | €26,629 | +€6,870 | +34.8% |
| Recurring financial charges | 65 | €19,759 | €26,629 | +€6,870 | +34.8% |
| Profit (loss) for the period before taxes | 9903 | €445 | -€61,603 | -€62,048 | |
| Income taxes | 67/77 | €243 | €227 | -€17 | -6.8% |
| Profit (loss) for the period | 9904 | €202 | -€61,830 | -€62,032 | |
| Profit (loss) for the period to be appropriated | 9905 | €202 | -€61,830 | -€62,032 |
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 28 October 2026 via checked.be.