DEFRAN HOLDING: 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.
What changed
DEFRAN HOLDING
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€22,562
2024 · -€25,579+€48,140
Equity
€2.4m
2024 · €2.3m+€22,562
Cash
€77,289
2024 · €34,073+€43,215
Balance sheet total
€3.6m
2024 · €3.5m+€43,694
Largest movements
Assets
- Cash +€43,215
up €43,215 (+127%), from €34,073 to €77,289
mainly Accrued charges and deferred income (+€97,024) and Net result for the year (+€22,562)
Equity and liabilities
- Accrued charges and deferred income +€97,024
up €97,024 (+398%), from €24,382 to €121,407
- Other debts -€38,205
down €38,205 (-16.1%), from €237,087 to €198,882
Income statement
- Financial charges -€31,327
down €31,327 (-46.6%), from €67,219 to €35,892
- Depreciation -€17,007
down €17,007 (-76.5%), from €22,219 to €5,212
- Gross operating margin +€8,578
up €8,578 (+16.6%), from €51,674 to €60,252
- Financial income -€6,744
down €6,744 (-44.0%), from €15,311 to €8,568
- Taxes +€2,206
up €2,206 (+510%), from €432 to €2,638
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
-€25,579
Gross operating margin
+€8,578
Depreciation
+€17,007
Other operating charges
+€178
Financial income
-€6,744
Financial charges
+€31,327
Taxes
-€2,206
Result 2025
€22,562
raises the resultlowers the result
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.
From operations
+€64,565
Investment
-€10,000
Financing
-€11,350
Cash 2024
€34,073
From operations (derived)
+€64,565
Net result for the year
+€22,562
Depreciation
+€5,212
Receivables within one year
+€6,065
Deferred charges and accrued income
-€1,756
Trade debts
+€426
Tax, wage and social debts
-€26,763
Other debts
-€38,205
Accrued charges and deferred income
+€97,024
Investment (derived)
-€10,000
Current investments
-€10,000
Financing
-€11,350
Debts after one year
-€11,498
Current portion of long-term debt
+€148
Cash 2025
€77,289
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,512,314 | €3,556,008 | +€43,694 | +1.2% |
| Fixed assets | 21/28 | €1,664,718 | €1,659,506 | -€5,212 | -0.3% |
| Tangible fixed assets | 22/27 | €307,070 | €301,858 | -€5,212 | -1.7% |
| Land and buildings | 22 | €144,523 | €143,766 | -€758 | -0.5% |
| Other tangible fixed assets | 26 | €162,546 | €158,092 | -€4,455 | -2.7% |
| Financial fixed assets | 28 | €1,357,649 | €1,357,649 | = | 0.0% |
| Current assets | 29/58 | €1,847,595 | €1,896,502 | +€48,906 | +2.6% |
| Amounts receivable after more than one year | 29 | €1,015,000 | €1,015,000 | = | 0.0% |
| Other amounts receivable | 291 | €1,015,000 | €1,015,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €40,476 | €34,411 | -€6,065 | -15.0% |
| Trade receivables | 40 | €30,250 | €30,250 | = | 0.0% |
| Other amounts receivable | 41 | €10,226 | €4,161 | -€6,065 | -59.3% |
| Current investments | 50/53 | €410,000 | €420,000 | +€10,000 | +2.4% |
| Cash at bank and in hand | 54/58 | €34,073 | €77,289 | +€43,215 | +127% |
| Deferred charges and accrued income | 490/1 | €348,045 | €349,802 | +€1,756 | +0.5% |
| Total equity and liabilities | 10/49 | €3,512,314 | €3,556,008 | +€43,694 | +1.2% |
| Equity | 10/15 | €2,343,328 | €2,365,890 | +€22,562 | +1.0% |
| Contributions | 10/11 | €962,130 | €962,130 | = | 0.0% |
| Capital | 10 | €962,130 | €962,130 | = | 0.0% |
| Issued capital | 100 | €962,130 | €962,130 | = | 0.0% |
| Reserves | 13 | €1,381,198 | €1,403,760 | +€22,562 | +1.6% |
| Non-distributable reserves | 130/1 | €74,816 | €74,816 | = | 0.0% |
| Legal reserve | 130 | €74,816 | €74,816 | = | 0.0% |
| Distributable reserves | 133 | €1,306,382 | €1,328,944 | +€22,562 | +1.7% |
| Amounts payable | 17/49 | €1,168,986 | €1,190,118 | +€21,132 | +1.8% |
| Amounts payable after more than one year | 17 | €859,063 | €847,565 | -€11,498 | -1.3% |
| Financial debts | 170/4 | €109,063 | €97,565 | -€11,498 | -10.5% |
| Other amounts payable | 178/9 | €750,000 | €750,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €285,541 | €221,147 | -€64,394 | -22.6% |
| Current portion of amounts payable after more than one year | 42 | €11,350 | €11,498 | +€148 | +1.3% |
| Trade debts | 44 | €1,119 | €1,545 | +€426 | +38.1% |
| Suppliers | 440/4 | €1,119 | €1,545 | +€426 | +38.1% |
| Taxes, remuneration and social security | 45 | €35,985 | €9,222 | -€26,763 | -74.4% |
| Taxes | 450/3 | €33,600 | €6,758 | -€26,842 | -79.9% |
| Remuneration and social security | 454/9 | €2,386 | €2,464 | +€79 | +3.3% |
| Other amounts payable | 47/48 | €237,087 | €198,882 | -€38,205 | -16.1% |
| Accrued charges and deferred income | 492/3 | €24,382 | €121,407 | +€97,024 | +398% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,219 | €5,212 | -€17,007 | -76.5% |
| Other operating charges | 640/8 | €2,693 | €2,516 | -€178 | -6.6% |
| Gross operating margin | 9900 | €51,674 | €60,252 | +€8,578 | +16.6% |
| Operating profit (loss) | 9901 | €26,761 | €52,524 | +€25,763 | +96.3% |
| Financial income | 75/76B | €15,311 | €8,568 | -€6,744 | -44.0% |
| Recurring financial income | 75 | €15,311 | €8,568 | -€6,744 | -44.0% |
| Financial charges | 65/66B | €67,219 | €35,892 | -€31,327 | -46.6% |
| Recurring financial charges | 65 | €67,219 | €35,892 | -€31,327 | -46.6% |
| Profit (loss) for the period before taxes | 9903 | -€25,146 | €25,200 | +€50,346 | |
| Income taxes | 67/77 | €432 | €2,638 | +€2,206 | +510% |
| Profit (loss) for the period | 9904 | -€25,579 | €22,562 | +€48,140 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,579 | €22,562 | +€48,140 |
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.