DEFRAMA: 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.
DEFRAMA
Largest movements
- Tangible fixed assets -€116,083
down €116,083 (-2.8%), from €4.2m to €4.1m
of which Land and buildings: -€122,247
- Receivables within one year +€112,755
up €112,755 (+164%), from €68,601 to €181,356
of which Other amounts receivable: +€116,439
- Debts after one year +€806,786
up €806,786 (+558%), from €144,643 to €951,429
- Other debts -€779,017
down €779,017 (-18.2%), from €4.3m to €3.5m
- Purchases and services -€88,028
no longer reported in 2025 (was €88,028)
- Turnover -€50,100
no longer reported in 2025 (was €50,100)
- Other operating charges -€37,778
down €37,778 (-83.2%), from €45,420 to €7,643
- Gross operating margin -€10,862
down €10,862 (-5.0%), from €215,752 to €204,891
- Financial charges +€2,372
up €2,372 (+2.6%), from €92,711 to €95,083
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 | €4,325,890 | €4,313,960 | -€11,930 | -0.3% |
| Fixed assets | 21/28 | €4,189,638 | €4,073,555 | -€116,083 | -2.8% |
| Tangible fixed assets | 22/27 | €4,189,638 | €4,073,555 | -€116,083 | -2.8% |
| Land and buildings | 22 | €4,189,638 | €4,067,390 | -€122,247 | -2.9% |
| Assets under construction and advance payments | 27 | - | €6,165 | +€6,165 | |
| Current assets | 29/58 | €136,252 | €240,405 | +€104,153 | +76.4% |
| Amounts receivable within one year | 40/41 | €68,601 | €181,356 | +€112,755 | +164% |
| Trade receivables | 40 | €4,124 | €440 | -€3,684 | -89.3% |
| Other amounts receivable | 41 | €64,476 | €180,916 | +€116,439 | +181% |
| Current investments | 50/53 | €0 | €648 | +€648 | |
| Cash at bank and in hand | 54/58 | €65,566 | €56,745 | -€8,821 | -13.5% |
| Deferred charges and accrued income | 490/1 | €2,086 | €1,656 | -€429 | -20.6% |
| Total equity and liabilities | 10/49 | €4,325,890 | €4,313,960 | -€11,930 | -0.3% |
| Equity | 10/15 | -€193,997 | -€211,952 | -€17,955 | -9.3% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €52,500 | €52,500 | = | 0.0% |
| Distributable reserves | 133 | €52,500 | €52,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€321,497 | -€339,452 | -€17,955 | -5.6% |
| Amounts payable | 17/49 | €4,519,887 | €4,525,912 | +€6,025 | +0.1% |
| Amounts payable after more than one year | 17 | €144,643 | €951,429 | +€806,786 | +558% |
| Financial debts | 170/4 | €144,643 | €951,429 | +€806,786 | +558% |
| Amounts payable within one year | 42/48 | €4,375,244 | €3,574,484 | -€800,760 | -18.3% |
| Current portion of amounts payable after more than one year | 42 | €48,214 | €48,214 | = | 0.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €3,310 | €24,657 | +€21,347 | +645% |
| Suppliers | 440/4 | €3,310 | €24,657 | +€21,347 | +645% |
| Advances received on contracts in progress | 46 | - | €143 | +€143 | |
| Taxes, remuneration and social security | 45 | €43,288 | €56 | -€43,233 | -99.9% |
| Taxes | 450/3 | €43,288 | €56 | -€43,233 | -99.9% |
| Other amounts payable | 47/48 | €4,280,432 | €3,501,415 | -€779,017 | -18.2% |
| Turnover | 70 | €50,100 | - | -€50,100 | |
| Non-recurring operating income | 76A | - | €3,335 | +€3,335 | |
| Goods, raw materials, services and sundry goods | 60/61 | €88,028 | - | -€88,028 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €122,247 | €122,247 | +€0 | 0.0% |
| Other operating charges | 640/8 | €45,420 | €7,643 | -€37,778 | -83.2% |
| Gross operating margin | 9900 | €215,752 | €204,891 | -€10,862 | -5.0% |
| Operating profit (loss) | 9901 | €48,085 | €75,001 | +€26,916 | +56.0% |
| Financial income | 75/76B | €57 | €2,128 | +€2,072 | +3,647% |
| Recurring financial income | 75 | €57 | €2,128 | +€2,072 | +3,647% |
| Financial charges | 65/66B | €92,711 | €95,083 | +€2,372 | +2.6% |
| Recurring financial charges | 65 | €92,711 | €95,083 | +€2,372 | +2.6% |
| Profit (loss) for the period before taxes | 9903 | -€44,570 | -€17,954 | +€26,616 | +59.7% |
| Income taxes | 67/77 | €1 | €1 | +€0 | +27.8% |
| Profit (loss) for the period | 9904 | -€44,571 | -€17,955 | +€26,616 | +59.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€44,571 | -€17,955 | +€26,616 | +59.7% |
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 14 October 2026 via checked.be.