DEFOR: 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.
DEFOR
Largest movements
- Tangible fixed assets -€66,241
down €66,241 (-15.3%), from €433,251 to €367,010
of which Furniture and vehicles: -€38,495
- Receivables within one year -€26,937
down €26,937 (-95.4%), from €28,249 to €1,311
of which Trade receivables: -€16,423
- Current portion of long-term debt -€25,646
no longer reported in 2025 (was €25,646)
- Tax, wage and social debts -€20,047
down €20,047 (-76.3%), from €26,283 to €6,237
- Profit (loss) carried forward -€18,776
down €18,776 (-8.3%), from €226,149 to €207,373
- Debts after one year -€17,997
no longer reported in 2025 (was €17,997)
- Trade debts -€7,707
down €7,707 (-52.8%), from €14,592 to €6,885
- Purchases and services -€78,350
down €78,350 (-56.2%), from €139,372 to €61,022
- Turnover +€55,781
new in 2025: €55,781
- Gross operating margin -€32,327
down €32,327 (-55.3%), from €58,473 to €26,145
- Depreciation -€9,321
down €9,321 (-19.0%), from €48,948 to €39,627
- Taxes -€2,362
no longer reported in 2025 (was €2,362)
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 | €573,716 | €477,186 | -€96,531 | -16.8% |
| Fixed assets | 21/28 | €496,827 | €430,586 | -€66,241 | -13.3% |
| Tangible fixed assets | 22/27 | €433,251 | €367,010 | -€66,241 | -15.3% |
| Land and buildings | 22 | €371,242 | €343,496 | -€27,746 | -7.5% |
| Furniture and vehicles | 24 | €62,008 | €23,513 | -€38,495 | -62.1% |
| Financial fixed assets | 28 | €63,576 | €63,576 | = | 0.0% |
| Current assets | 29/58 | €76,890 | €46,600 | -€30,290 | -39.4% |
| Amounts receivable after more than one year | 29 | €35,625 | €35,625 | = | 0.0% |
| Other amounts receivable | 291 | €35,625 | €35,625 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €28,249 | €1,311 | -€26,937 | -95.4% |
| Trade receivables | 40 | €16,791 | €368 | -€16,423 | -97.8% |
| Other amounts receivable | 41 | €11,458 | €943 | -€10,515 | -91.8% |
| Cash at bank and in hand | 54/58 | €13,016 | €9,663 | -€3,352 | -25.8% |
| Total equity and liabilities | 10/49 | €573,716 | €477,186 | -€96,531 | -16.8% |
| Equity | 10/15 | €327,149 | €308,373 | -€18,776 | -5.7% |
| Contributions | 10/11 | €46,500 | €46,500 | = | 0.0% |
| Contributions outside capital | 11 | €46,500 | €46,500 | = | 0.0% |
| Other | 1109/19 | €46,500 | €46,500 | = | 0.0% |
| Reserves | 13 | €54,500 | €54,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,000 | €6,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,000 | €6,000 | = | 0.0% |
| Distributable reserves | 133 | €48,500 | €48,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €226,149 | €207,373 | -€18,776 | -8.3% |
| Amounts payable | 17/49 | €246,567 | €168,812 | -€77,755 | -31.5% |
| Amounts payable after more than one year | 17 | €17,997 | - | -€17,997 | |
| Financial debts | 170/4 | €17,997 | - | -€17,997 | |
| Amounts payable within one year | 42/48 | €228,570 | €168,812 | -€59,758 | -26.1% |
| Current portion of amounts payable after more than one year | 42 | €25,646 | - | -€25,646 | |
| Trade debts | 44 | €14,592 | €6,885 | -€7,707 | -52.8% |
| Suppliers | 440/4 | €14,592 | €6,885 | -€7,707 | -52.8% |
| Taxes, remuneration and social security | 45 | €26,283 | €6,237 | -€20,047 | -76.3% |
| Taxes | 450/3 | €26,283 | €6,237 | -€20,047 | -76.3% |
| Other amounts payable | 47/48 | €162,049 | €155,691 | -€6,358 | -3.9% |
| Turnover | 70 | - | €55,781 | +€55,781 | |
| Non-recurring operating income | 76A | €39,000 | €87,167 | +€48,167 | +124% |
| Goods, raw materials, services and sundry goods | 60/61 | €139,372 | €61,022 | -€78,350 | -56.2% |
| Remuneration, social security and pensions | 62 | - | €1,890 | +€1,890 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €48,948 | €39,627 | -€9,321 | -19.0% |
| Other operating charges | 640/8 | €4,207 | €3,953 | -€254 | -6.0% |
| Gross operating margin | 9900 | €58,473 | €26,145 | -€32,327 | -55.3% |
| Operating profit (loss) | 9901 | €5,318 | -€19,325 | -€24,643 | |
| Financial income | 75/76B | - | €638 | +€638 | |
| Recurring financial income | 75 | - | €638 | +€638 | |
| Financial charges | 65/66B | -€900 | €89 | +€989 | |
| Recurring financial charges | 65 | -€900 | €89 | +€989 | |
| Profit (loss) for the period before taxes | 9903 | €6,218 | -€18,776 | -€24,994 | |
| Income taxes | 67/77 | €2,362 | - | -€2,362 | |
| Profit (loss) for the period | 9904 | €3,856 | -€18,776 | -€22,632 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,856 | -€18,776 | -€22,632 |
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 16 October 2026 via checked.be.