DEFRA: 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.
DEFRA
Largest movements
- Current investments -€19,182
no longer reported in 2025 (was €19,182)
- Cash -€13,698
down €13,698 (-2.4%), from €566,647 to €552,949
mainly Trade debts (-€51,946) and Investment in fixed assets (net) (-€17,558)
- Trade debts -€51,946
down €51,946 (-64.9%), from €80,017 to €28,071
- Reserves +€29,242
up €29,242 (+4.6%), from €637,461 to €666,703
of which Distributable reserves: +€29,242
- Tax, wage and social debts -€10,425
down €10,425 (-20.5%), from €50,874 to €40,449
of which Taxes: -€15,080
- Gross operating margin -€43,086
down €43,086 (-17.8%), from €241,527 to €198,441
- Taxes -€19,381
down €19,381 (-63.7%), from €30,433 to €11,052
- Staff costs +€4,305
up €4,305 (+3.5%), from €121,421 to €125,726
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 | €807,296 | €768,410 | -€38,887 | -4.8% |
| Fixed assets | 21/28 | €51,834 | €54,738 | +€2,905 | +5.6% |
| Tangible fixed assets | 22/27 | €50,544 | €53,449 | +€2,905 | +5.7% |
| Plant, machinery and equipment | 23 | - | €15,937 | +€15,937 | |
| Furniture and vehicles | 24 | €50,544 | €37,512 | -€13,033 | -25.8% |
| Financial fixed assets | 28 | €1,289 | €1,289 | = | 0.0% |
| Current assets | 29/58 | €755,463 | €713,671 | -€41,791 | -5.5% |
| Stocks and contracts in progress | 3 | €143,576 | €138,976 | -€4,600 | -3.2% |
| Stocks | 30/36 | €143,576 | €138,976 | -€4,600 | -3.2% |
| Amounts receivable within one year | 40/41 | €26,058 | €21,746 | -€4,312 | -16.5% |
| Trade receivables | 40 | €25,978 | €21,666 | -€4,312 | -16.6% |
| Other amounts receivable | 41 | €80 | €80 | = | 0.0% |
| Current investments | 50/53 | €19,182 | - | -€19,182 | |
| Cash at bank and in hand | 54/58 | €566,647 | €552,949 | -€13,698 | -2.4% |
| Total equity and liabilities | 10/49 | €807,296 | €768,410 | -€38,887 | -4.8% |
| Equity | 10/15 | €656,061 | €685,303 | +€29,242 | +4.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Capital | 10 | €18,600 | €18,600 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €637,461 | €666,703 | +€29,242 | +4.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €635,601 | €664,843 | +€29,242 | +4.6% |
| Amounts payable | 17/49 | €151,235 | €83,107 | -€68,128 | -45.0% |
| Amounts payable within one year | 42/48 | €151,235 | €83,107 | -€68,128 | -45.0% |
| Trade debts | 44 | €80,017 | €28,071 | -€51,946 | -64.9% |
| Suppliers | 440/4 | €80,017 | €28,071 | -€51,946 | -64.9% |
| Taxes, remuneration and social security | 45 | €50,874 | €40,449 | -€10,425 | -20.5% |
| Taxes | 450/3 | €29,298 | €14,218 | -€15,080 | -51.5% |
| Remuneration and social security | 454/9 | €21,576 | €26,231 | +€4,655 | +21.6% |
| Other amounts payable | 47/48 | €20,345 | €14,587 | -€5,758 | -28.3% |
| Non-recurring operating income | 76A | €20,680 | - | -€20,680 | |
| Remuneration, social security and pensions | 62 | €121,421 | €125,726 | +€4,305 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,602 | €14,654 | +€52 | +0.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €0 | = | |
| Other operating charges | 640/8 | €15,603 | €15,082 | -€521 | -3.3% |
| Gross operating margin | 9900 | €241,527 | €198,441 | -€43,086 | -17.8% |
| Operating profit (loss) | 9901 | €89,902 | €42,979 | -€46,922 | -52.2% |
| Financial income | 75/76B | €589 | €1,810 | +€1,221 | +207.2% |
| Recurring financial income | 75 | €589 | €1,810 | +€1,221 | +207.2% |
| Financial charges | 65/66B | €2,856 | €4,495 | +€1,639 | +57.4% |
| Recurring financial charges | 65 | €2,856 | €4,495 | +€1,639 | +57.4% |
| Profit (loss) for the period before taxes | 9903 | €87,635 | €40,294 | -€47,341 | -54.0% |
| Income taxes | 67/77 | €30,433 | €11,052 | -€19,381 | -63.7% |
| Profit (loss) for the period | 9904 | €57,202 | €29,242 | -€27,960 | -48.9% |
| Profit (loss) for the period to be appropriated | 9905 | €57,202 | €29,242 | -€27,960 | -48.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.