DEFRA IMMO: 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 IMMO
Largest movements
- Tangible fixed assets -€56,520
down €56,520 (-18.7%), from €303,040 to €246,520
- Cash +€51,488
new in 2025: €51,488
mainly Net result for the year (+€68,458) and Investment in fixed assets (net) (+€55,960)
- Reserves +€59,040
new in 2025: €59,040
- Debts after one year -€51,329
down €51,329 (-21.5%), from €239,001 to €187,671
of which Financial debts: -€28,721
- Other debts -€20,551
down €20,551 (-100.0%), from €20,551 to €0
- Profit (loss) carried forward +€9,418
up €9,418 (+52.3%), from -€18,018 to -€8,600
- Current portion of long-term debt -€4,470
down €4,470 (-22.3%), from €20,087 to €15,617
- Gross operating margin +€53,148
up €53,148 (+210.9%), from €25,203 to €78,350
- Depreciation -€1,785
down €1,785 (-76.1%), from €2,345 to €560
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 | €306,040 | €298,113 | -€7,927 | -2.6% |
| Fixed assets | 21/28 | €303,040 | €246,520 | -€56,520 | -18.7% |
| Tangible fixed assets | 22/27 | €303,040 | €246,520 | -€56,520 | -18.7% |
| Land and buildings | 22 | €303,040 | €246,520 | -€56,520 | -18.7% |
| Current assets | 29/58 | €3,000 | €51,593 | +€48,593 | +1619.8% |
| Amounts receivable within one year | 40/41 | - | €105 | +€105 | |
| Trade receivables | 40 | - | €105 | +€105 | |
| Cash at bank and in hand | 54/58 | - | €51,488 | +€51,488 | |
| Deferred charges and accrued income | 490/1 | €3,000 | €0 | -€3,000 | -100.0% |
| Total equity and liabilities | 10/49 | €306,040 | €298,113 | -€7,927 | -2.6% |
| Equity | 10/15 | €21,982 | €90,440 | +€68,458 | +311.4% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Reserves | 13 | - | €59,040 | +€59,040 | |
| Tax-exempt reserves | 132 | - | €59,040 | +€59,040 | |
| Profit (loss) carried forward | 14 | -€18,018 | -€8,600 | +€9,418 | +52.3% |
| Amounts payable | 17/49 | €284,058 | €207,673 | -€76,385 | -26.9% |
| Amounts payable after more than one year | 17 | €239,001 | €187,671 | -€51,329 | -21.5% |
| Financial debts | 170/4 | €196,392 | €167,671 | -€28,721 | -14.6% |
| Other amounts payable | 178/9 | €42,608 | €20,000 | -€22,608 | -53.1% |
| Amounts payable within one year | 42/48 | €43,241 | €20,002 | -€23,240 | -53.7% |
| Current portion of amounts payable after more than one year | 42 | €20,087 | €15,617 | -€4,470 | -22.3% |
| Trade debts | 44 | €2,603 | €4,385 | +€1,781 | +68.4% |
| Suppliers | 440/4 | €2,603 | €4,385 | +€1,781 | +68.4% |
| Other amounts payable | 47/48 | €20,551 | €0 | -€20,551 | -100.0% |
| Accrued charges and deferred income | 492/3 | €1,816 | €0 | -€1,816 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,345 | €560 | -€1,785 | -76.1% |
| Other operating charges | 640/8 | €642 | €804 | +€162 | +25.3% |
| Gross operating margin | 9900 | €25,203 | €78,350 | +€53,148 | +210.9% |
| Operating profit (loss) | 9901 | €22,216 | €76,986 | +€54,770 | +246.5% |
| Financial charges | 65/66B | €8,474 | €8,528 | +€54 | +0.6% |
| Recurring financial charges | 65 | €8,474 | €8,528 | +€54 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | €13,742 | €68,458 | +€54,716 | +398.2% |
| Profit (loss) for the period | 9904 | €13,742 | €68,458 | +€54,716 | +398.2% |
| Transfer to tax-exempt reserves | 689 | - | €59,040 | +€59,040 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,742 | €9,418 | -€4,324 | -31.5% |
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 7 October 2026 via checked.be.