Defoort: 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.
Defoort
Largest movements
- Tangible fixed assets +€27,874
up €27,874 (+23.0%), from €121,147 to €149,021
of which Plant, machinery and equipment: +€22,496
- Receivables within one year -€26,629
down €26,629 (-35.8%), from €74,296 to €47,667
of which Trade receivables: -€28,484
- Cash +€9,093
up €9,093 (+1095.5%), from €830 to €9,923
mainly Depreciation (+€54,810) and Debts after one year (+€27,614)
- Debts after one year +€27,614
up €27,614 (+41.3%), from €66,816 to €94,430
- Other debts -€20,712
down €20,712 (-58.5%), from €35,402 to €14,690
- Current portion of long-term debt +€16,447
up €16,447 (+81.6%), from €20,147 to €36,594
- Trade debts -€13,728
down €13,728 (-22.7%), from €60,418 to €46,689
- Reserves +€4,453
new in 2025: €4,453
- Gross operating margin +€84,698
up €84,698 (+151.8%), from €55,801 to €140,499
- Staff costs +€46,824
up €46,824 (+204.6%), from €22,889 to €69,713
- Depreciation +€39,528
up €39,528 (+258.7%), from €15,282 to €54,810
- Financial charges +€4,008
up €4,008 (+214.6%), from €1,868 to €5,876
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 | €208,839 | €221,506 | +€12,667 | +6.1% |
| Formation expenses | 20 | €614 | - | -€614 | |
| Fixed assets | 21/28 | €121,397 | €149,271 | +€27,874 | +23.0% |
| Tangible fixed assets | 22/27 | €121,147 | €149,021 | +€27,874 | +23.0% |
| Plant, machinery and equipment | 23 | €17,136 | €39,631 | +€22,496 | +131.3% |
| Furniture and vehicles | 24 | €104,012 | €109,390 | +€5,378 | +5.2% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €86,827 | €72,235 | -€14,592 | -16.8% |
| Stocks and contracts in progress | 3 | €7,650 | €9,850 | +€2,200 | +28.8% |
| Stocks | 30/36 | €2,650 | €9,850 | +€7,200 | +271.7% |
| Contracts in progress | 37 | €5,000 | - | -€5,000 | |
| Amounts receivable within one year | 40/41 | €74,296 | €47,667 | -€26,629 | -35.8% |
| Trade receivables | 40 | €61,206 | €32,722 | -€28,484 | -46.5% |
| Other amounts receivable | 41 | €13,089 | €14,945 | +€1,856 | +14.2% |
| Cash at bank and in hand | 54/58 | €830 | €9,923 | +€9,093 | +1095.5% |
| Deferred charges and accrued income | 490/1 | €4,051 | €4,795 | +€743 | +18.4% |
| Total equity and liabilities | 10/49 | €208,839 | €221,506 | +€12,667 | +6.1% |
| Equity | 10/15 | €16,644 | €21,097 | +€4,453 | +26.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | - | €4,453 | +€4,453 | |
| Distributable reserves | 133 | - | €4,453 | +€4,453 | |
| Profit (loss) carried forward | 14 | €11,644 | €11,644 | = | 0.0% |
| Amounts payable | 17/49 | €192,195 | €200,409 | +€8,215 | +4.3% |
| Amounts payable after more than one year | 17 | €66,816 | €94,430 | +€27,614 | +41.3% |
| Financial debts | 170/4 | €66,816 | €94,430 | +€27,614 | +41.3% |
| Amounts payable within one year | 42/48 | €125,379 | €105,979 | -€19,399 | -15.5% |
| Current portion of amounts payable after more than one year | 42 | €20,147 | €36,594 | +€16,447 | +81.6% |
| Trade debts | 44 | €60,418 | €46,689 | -€13,728 | -22.7% |
| Suppliers | 440/4 | €60,418 | €46,689 | -€13,728 | -22.7% |
| Taxes, remuneration and social security | 45 | €9,413 | €8,006 | -€1,407 | -14.9% |
| Taxes | 450/3 | €3,567 | €8,006 | +€4,439 | +124.5% |
| Remuneration and social security | 454/9 | €5,846 | - | -€5,846 | |
| Other amounts payable | 47/48 | €35,402 | €14,690 | -€20,712 | -58.5% |
| Remuneration, social security and pensions | 62 | €22,889 | €69,713 | +€46,824 | +204.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,282 | €54,810 | +€39,528 | +258.7% |
| Other operating charges | 640/8 | €552 | €1,242 | +€690 | +125.1% |
| Gross operating margin | 9900 | €55,801 | €140,499 | +€84,698 | +151.8% |
| Operating profit (loss) | 9901 | €17,079 | €14,735 | -€2,344 | -13.7% |
| Financial income | 75/76B | €0 | €1 | +€1 | +2383.3% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +2383.3% |
| Financial charges | 65/66B | €1,868 | €5,876 | +€4,008 | +214.6% |
| Recurring financial charges | 65 | €1,868 | €5,876 | +€4,008 | +214.6% |
| Profit (loss) for the period before taxes | 9903 | €15,211 | €8,860 | -€6,351 | -41.8% |
| Income taxes | 67/77 | €3,567 | €4,407 | +€840 | +23.6% |
| Profit (loss) for the period | 9904 | €11,644 | €4,453 | -€7,192 | -61.8% |
| Profit (loss) for the period to be appropriated | 9905 | €11,644 | €4,453 | -€7,192 | -61.8% |
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.