DEFORCHE CONSTRUCT: 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.
What changed
DEFORCHE CONSTRUCT
NACE 25.110, Manufacture of metal structures and parts of structures
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.2m
2024 · €2.0m-€731,255
Equity
€2.9m
2024 · €2.9m+€751
Cash
€3.4m
2024 · €5.5m-€2.0m
Balance sheet total
€16.9m
2024 · €25.5m-€8.6m
Largest movements
Assets
- Receivables within one year -€4.2m
down €4.2m (-29.2%), from €14.3m to €10.1m
of which Trade receivables: -€4.8m
- Current investments -€2.5m
down €2.5m (-95.8%), from €2.6m to €111,302
- Cash -€2.0m
down €2.0m (-37.1%), from €5.5m to €3.4m
mainly Trade debts (-€4.4m) and Advances received (-€3.0m)
Equity and liabilities
- Trade debts -€4.4m
down €4.4m (-40.1%), from €10.9m to €6.5m
- Advances received -€3.0m
down €3.0m (-49.8%), from €6.0m to €3.0m
- Other debts -€962,731
down €962,731 (-39.7%), from €2.4m to €1.5m
Income statement
- Turnover +€12.4m
up €12.4m (+52.3%), from €23.7m to €36.2m
- Goods and materials -€1.5m
down €1.5m (-5.6%), from €26.6m to €25.1m
of which Purchases: -€1.4m
- Write-downs -€677,863
down €677,863, from €245,361 to -€432,502
- Provisions -€537,344
down €537,344, from €299,801 to -€237,543
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.
Result 2024
€2.0m
Turnover
+€12.4m
Other operating income
+€56,802
Goods and materials
+€1.5m
Services and other goods
+€119,548
Staff costs
-€304,546
Depreciation
-€17,850
Write-downs
+€677,863
Provisions
+€537,344
Other operating charges
-€92,961
Other operating items
-€15.9m
Financial income
-€20,773
Financial charges
-€47,313
Taxes
+€295,381
Result 2025
€1.2m
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.
From operations
-€3.2m
Investment
+€2.3m
Financing
-€1.1m
Cash 2024
€5.5m
From operations (derived)
-€3.2m
Net result for the year
+€1.2m
Depreciation
+€133,409
Stocks and contracts
+€22,534
Receivables within one year
+€4.2m
Deferred charges and accrued income
-€39,005
Provisions
-€237,543
Trade debts
-€4.4m
Tax, wage and social debts
-€107,670
Advances received
-€3.0m
Other debts
-€962,731
Accrued charges and deferred income
-€102,274
Investment (derived)
+€2.3m
Investment in fixed assets (net)
-€244,860
Current investments
+€2.5m
Financing
-€1.1m
Debts after one year
+€91,925
Current portion of long-term debt
+€29,602
Contributions, distributions and other
-€1.2m
Cash 2025
€3.4m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €25,492,418 | €16,878,659 | -€8.6m | -33.8% |
| Fixed assets | 21/28 | €349,221 | €460,672 | +€111,451 | +31.9% |
| Intangible fixed assets | 21 | €37,270 | €16,814 | -€20,457 | -54.9% |
| Tangible fixed assets | 22/27 | €281,471 | €398,298 | +€116,827 | +41.5% |
| Plant, machinery and equipment | 23 | €104,340 | €93,751 | -€10,589 | -10.1% |
| Furniture and vehicles | 24 | €58,684 | €35,944 | -€22,739 | -38.7% |
| Leasing and similar rights | 25 | €118,447 | €268,603 | +€150,155 | +126.8% |
| Financial fixed assets | 28 | €30,480 | €45,561 | +€15,081 | +49.5% |
| Other financial fixed assets | 284/8 | €30,480 | €45,561 | +€15,081 | +49.5% |
| Shares | 284 | - | €2,500 | +€2,500 | |
| Amounts receivable and cash guarantees | 285/8 | €30,480 | €43,061 | +€12,581 | +41.3% |
| Current assets | 29/58 | €25,143,196 | €16,417,987 | -€8.7m | -34.7% |
| Stocks and contracts in progress | 3 | €2,587,715 | €2,565,181 | -€22,534 | -0.9% |
| Stocks | 30/36 | €1,252,056 | €1,150,391 | -€101,665 | -8.1% |
| Raw materials and consumables | 30/31 | €1,252,056 | €1,099,641 | -€152,415 | -12.2% |
| Work in progress | 32 | - | €50,750 | +€50,750 | |
| Contracts in progress | 37 | €1,335,659 | €1,414,790 | +€79,130 | +5.9% |
| Amounts receivable within one year | 40/41 | €14,321,954 | €10,142,437 | -€4.2m | -29.2% |
| Trade receivables | 40 | €13,530,071 | €8,750,397 | -€4.8m | -35.3% |
| Other amounts receivable | 41 | €791,883 | €1,392,039 | +€600,156 | +75.8% |
| Current investments | 50/53 | €2,643,748 | €111,302 | -€2.5m | -95.8% |
| Other investments | 51/53 | €2,643,748 | €111,302 | -€2.5m | -95.8% |
| Cash at bank and in hand | 54/58 | €5,473,861 | €3,444,143 | -€2.0m | -37.1% |
| Deferred charges and accrued income | 490/1 | €115,919 | €154,924 | +€39,005 | +33.6% |
| Total equity and liabilities | 10/49 | €25,492,418 | €16,878,659 | -€8.6m | -33.8% |
| Equity | 10/15 | €2,933,243 | €2,933,994 | +€751 | 0.0% |
| Contributions | 10/11 | €550,000 | €550,000 | = | 0.0% |
| Capital | 10 | €550,000 | €550,000 | = | 0.0% |
| Issued capital | 100 | €550,000 | €550,000 | = | 0.0% |
| Reserves | 13 | €547,500 | €547,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €55,000 | €55,000 | = | 0.0% |
| Legal reserve | 130 | €55,000 | €55,000 | = | 0.0% |
| Distributable reserves | 133 | €492,500 | €492,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,835,743 | €1,836,494 | +€751 | 0.0% |
| Provisions and deferred taxes | 16 | €1,320,677 | €1,083,134 | -€237,543 | -18.0% |
| Provisions for liabilities and charges | 160/5 | €1,320,677 | €1,083,134 | -€237,543 | -18.0% |
| Other liabilities and charges | 164/5 | €1,320,677 | €1,083,134 | -€237,543 | -18.0% |
| Amounts payable | 17/49 | €21,238,498 | €12,861,531 | -€8.4m | -39.4% |
| Amounts payable after more than one year | 17 | €60,076 | €152,001 | +€91,925 | +153.0% |
| Financial debts | 170/4 | €60,076 | €152,001 | +€91,925 | +153.0% |
| Leasing and similar obligations | 172 | €60,076 | €152,001 | +€91,925 | +153.0% |
| Credit institutions | 173 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €20,982,459 | €12,615,841 | -€8.4m | -39.9% |
| Current portion of amounts payable after more than one year | 42 | €59,121 | €88,722 | +€29,602 | +50.1% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €10,870,035 | €6,516,201 | -€4.4m | -40.1% |
| Suppliers | 440/4 | €10,870,035 | €6,516,201 | -€4.4m | -40.1% |
| Advances received on contracts in progress | 46 | €5,971,856 | €2,999,872 | -€3.0m | -49.8% |
| Taxes, remuneration and social security | 45 | €1,654,221 | €1,546,551 | -€107,670 | -6.5% |
| Taxes | 450/3 | €1,068,091 | €892,838 | -€175,253 | -16.4% |
| Remuneration and social security | 454/9 | €586,130 | €653,713 | +€67,583 | +11.5% |
| Other amounts payable | 47/48 | €2,427,226 | €1,464,495 | -€962,731 | -39.7% |
| Accrued charges and deferred income | 492/3 | €195,963 | €93,689 | -€102,274 | -52.2% |
| Operating income | 70/76A | €40,302,777 | €36,932,571 | -€3.4m | -8.4% |
| Turnover | 70 | €23,746,852 | €36,177,157 | +€12.4m | +52.3% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €16,332,763 | €326,801 | -€16.0m | -98.0% |
| Other operating income | 74 | €217,175 | €273,978 | +€56,802 | +26.2% |
| Non-recurring operating income | 76A | €5,987 | €154,635 | +€148,647 | +2482.7% |
| Operating charges | 60/66A | €37,540,991 | €35,129,335 | -€2.4m | -6.4% |
| Goods for resale, raw materials and consumables | 60 | €26,608,794 | €25,115,285 | -€1.5m | -5.6% |
| Purchases | 600/8 | €26,405,048 | €24,962,870 | -€1.4m | -5.5% |
| Change in stocks: decrease (increase) | 609 | €203,745 | €152,415 | -€51,330 | -25.2% |
| Services and other goods | 61 | €4,789,994 | €4,670,446 | -€119,548 | -2.5% |
| Remuneration, social security and pensions | 62 | €5,345,427 | €5,649,973 | +€304,546 | +5.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €115,559 | €133,409 | +€17,850 | +15.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €245,361 | -€432,502 | -€677,863 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €299,801 | -€237,543 | -€537,344 | |
| Other operating charges | 640/8 | €136,056 | €229,017 | +€92,961 | +68.3% |
| Non-recurring operating charges | 66A | €0 | €1,250 | +€1,250 | |
| Operating profit (loss) | 9901 | €2,761,786 | €1,803,235 | -€958,551 | -34.7% |
| Financial income | 75/76B | €64,511 | €43,739 | -€20,773 | -32.2% |
| Recurring financial income | 75 | €64,511 | €43,739 | -€20,773 | -32.2% |
| Income from current assets | 751 | €27,028 | €37,246 | +€10,219 | +37.8% |
| Other financial income | 752/9 | €37,484 | €6,493 | -€30,991 | -82.7% |
| Financial charges | 65/66B | €86,992 | €134,305 | +€47,313 | +54.4% |
| Recurring financial charges | 65 | €86,992 | €134,305 | +€47,313 | +54.4% |
| Debt charges | 650 | €22,798 | €39,611 | +€16,813 | +73.7% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | - | €25,652 | +€25,652 | |
| Other financial charges | 652/9 | €64,193 | €69,041 | +€4,848 | +7.6% |
| Profit (loss) for the period before taxes | 9903 | €2,739,306 | €1,712,670 | -€1.0m | -37.5% |
| Income taxes | 67/77 | €771,097 | €475,716 | -€295,381 | -38.3% |
| Taxes | 670/3 | €771,097 | €477,435 | -€293,663 | -38.1% |
| Tax adjustments and reversals of tax provisions | 77 | - | €1,718 | +€1,718 | |
| Profit (loss) for the period | 9904 | €1,968,208 | €1,236,953 | -€731,255 | -37.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,968,208 | €1,236,953 | -€731,255 | -37.2% |
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 6 October 2026 via checked.be.