Defrancq: 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.
Defrancq
Largest movements
- Deferred charges and accrued income +€457,256
up €457,256 (+6,506%), from €7,029 to €464,285
- Stocks and contracts +€82,654
up €82,654 (+20.7%), from €398,782 to €481,436
- Receivables within one year -€57,706
down €57,706 (-34.3%), from €168,426 to €110,720
- Tangible fixed assets -€32,961
down €32,961 (-8.2%), from €399,792 to €366,831
of which Land and buildings: -€27,336
- Cash +€24,161
up €24,161 (+1,294%), from €1,867 to €26,028
mainly Net result for the year (+€374,877) and Other debts (+€130,075)
- Profit (loss) carried forward +€374,877
up €374,877 (+40.8%), from -€918,509 to -€543,632
- Other debts +€130,075
up €130,075 (+122%), from €106,461 to €236,536
- Trade debts -€25,103
down €25,103 (-61.0%), from €41,158 to €16,056
- Gross operating margin +€408,574
up €408,574 (+1,162%), from €35,149 to €443,723
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 | €995,896 | €1,469,300 | +€473,404 | +47.5% |
| Fixed assets | 21/28 | €419,792 | €386,831 | -€32,961 | -7.9% |
| Intangible fixed assets | 21 | €20,000 | €20,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €399,792 | €366,831 | -€32,961 | -8.2% |
| Land and buildings | 22 | €374,294 | €346,958 | -€27,336 | -7.3% |
| Plant, machinery and equipment | 23 | €25,497 | €19,873 | -€5,625 | -22.1% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €576,104 | €1,082,469 | +€506,365 | +87.9% |
| Stocks and contracts in progress | 3 | €398,782 | €481,436 | +€82,654 | +20.7% |
| Stocks | 30/36 | €398,782 | €481,436 | +€82,654 | +20.7% |
| Amounts receivable within one year | 40/41 | €168,426 | €110,720 | -€57,706 | -34.3% |
| Trade receivables | 40 | €168,426 | €110,720 | -€57,706 | -34.3% |
| Cash at bank and in hand | 54/58 | €1,867 | €26,028 | +€24,161 | +1,294% |
| Deferred charges and accrued income | 490/1 | €7,029 | €464,285 | +€457,256 | +6,506% |
| Total equity and liabilities | 10/49 | €995,896 | €1,469,300 | +€473,404 | +47.5% |
| Equity | 10/15 | €37,664 | €412,541 | +€374,877 | +995% |
| Contributions | 10/11 | €862,669 | €862,669 | = | 0.0% |
| Capital | 10 | €862,669 | €862,669 | = | 0.0% |
| Issued capital | 100 | €862,669 | €862,669 | = | 0.0% |
| Reserves | 13 | €93,503 | €93,503 | = | 0.0% |
| Non-distributable reserves | 130/1 | €62,508 | €62,508 | = | 0.0% |
| Legal reserve | 130 | €62,508 | €62,508 | = | 0.0% |
| Tax-exempt reserves | 132 | €30,995 | €30,995 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€918,509 | -€543,632 | +€374,877 | +40.8% |
| Amounts payable | 17/49 | €958,232 | €1,056,759 | +€98,527 | +10.3% |
| Amounts payable after more than one year | 17 | €800,000 | €800,000 | = | 0.0% |
| Financial debts | 170/4 | €800,000 | €800,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €158,232 | €256,759 | +€98,527 | +62.3% |
| Trade debts | 44 | €41,158 | €16,056 | -€25,103 | -61.0% |
| Suppliers | 440/4 | €41,158 | €16,056 | -€25,103 | -61.0% |
| Taxes, remuneration and social security | 45 | €10,614 | €4,168 | -€6,446 | -60.7% |
| Taxes | 450/3 | €10,614 | €4,168 | -€6,446 | -60.7% |
| Other amounts payable | 47/48 | €106,461 | €236,536 | +€130,075 | +122% |
| Non-recurring operating income | 76A | - | €420,664 | +€420,664 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,178 | €7,725 | +€1,547 | +25.0% |
| Other operating charges | 640/8 | €49,369 | €50,918 | +€1,549 | +3.1% |
| Gross operating margin | 9900 | €35,149 | €443,723 | +€408,574 | +1,162% |
| Operating profit (loss) | 9901 | -€20,398 | €385,081 | +€405,479 | |
| Financial income | 75/76B | €635 | €549 | -€86 | -13.6% |
| Recurring financial income | 75 | €635 | €549 | -€86 | -13.6% |
| Financial charges | 65/66B | €12,381 | €9,224 | -€3,157 | -25.5% |
| Recurring financial charges | 65 | €12,381 | €9,224 | -€3,157 | -25.5% |
| Profit (loss) for the period before taxes | 9903 | -€32,144 | €376,406 | +€408,550 | |
| Income taxes | 67/77 | €1,477 | €1,529 | +€52 | +3.5% |
| Profit (loss) for the period | 9904 | -€33,621 | €374,877 | +€408,498 | |
| Profit (loss) for the period to be appropriated | 9905 | -€33,621 | €374,877 | +€408,498 |
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 17 October 2026 via checked.be.