DEFRENT: 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.
DEFRENT
Largest movements
- Cash +€245,155
up €245,155 (+573%), from €42,768 to €287,922
mainly Net result for the year (+€176,784) and Provisions (+€50,676)
- Tangible fixed assets -€22,606
down €22,606 (-6.2%), from €367,148 to €344,542
- Reserves +€152,027
up €152,027 (+115%), from €132,693 to €284,720
of which Tax-exempt reserves: +€152,027
- Provisions +€50,676
new in 2025: €50,676
- Profit (loss) carried forward +€24,757
up €24,757 (+52.9%), from -€46,780 to -€22,023
- Debts after one year -€12,875
down €12,875 (-6.7%), from €193,088 to €180,213
- Other debts +€6,976
up €6,976 (+13.8%), from €50,684 to €57,661
- Gross operating margin +€227,913
up €227,913 (+521%), from €43,725 to €271,638
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.
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 | €412,604 | €638,231 | +€225,627 | +54.7% |
| Fixed assets | 21/28 | €367,148 | €344,542 | -€22,606 | -6.2% |
| Tangible fixed assets | 22/27 | €367,148 | €344,542 | -€22,606 | -6.2% |
| Land and buildings | 22 | €367,148 | €344,542 | -€22,606 | -6.2% |
| Current assets | 29/58 | €45,456 | €293,688 | +€248,233 | +546% |
| Amounts receivable within one year | 40/41 | - | €2,781 | +€2,781 | |
| Trade receivables | 40 | - | €2,715 | +€2,715 | |
| Other amounts receivable | 41 | - | €66 | +€66 | |
| Cash at bank and in hand | 54/58 | €42,768 | €287,922 | +€245,155 | +573% |
| Deferred charges and accrued income | 490/1 | €2,688 | €2,986 | +€297 | +11.1% |
| Total equity and liabilities | 10/49 | €412,604 | €638,231 | +€225,627 | +54.7% |
| Equity | 10/15 | €147,913 | €324,697 | +€176,784 | +120% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €132,693 | €284,720 | +€152,027 | +115% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €152,027 | +€152,027 | |
| Distributable reserves | 133 | €126,493 | €126,493 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€46,780 | -€22,023 | +€24,757 | +52.9% |
| Provisions and deferred taxes | 16 | - | €50,676 | +€50,676 | |
| Deferred taxes | 168 | - | €50,676 | +€50,676 | |
| Amounts payable | 17/49 | €264,691 | €262,858 | -€1,833 | -0.7% |
| Amounts payable after more than one year | 17 | €193,088 | €180,213 | -€12,875 | -6.7% |
| Financial debts | 170/4 | €193,088 | €180,213 | -€12,875 | -6.7% |
| Amounts payable within one year | 42/48 | €68,241 | €77,651 | +€9,410 | +13.8% |
| Current portion of amounts payable after more than one year | 42 | €12,402 | €12,875 | +€473 | +3.8% |
| Trade debts | 44 | €4,285 | €7,115 | +€2,830 | +66.0% |
| Suppliers | 440/4 | €4,285 | €7,115 | +€2,830 | +66.0% |
| Taxes, remuneration and social security | 45 | €870 | - | -€870 | |
| Taxes | 450/3 | €870 | - | -€870 | |
| Other amounts payable | 47/48 | €50,684 | €57,661 | +€6,976 | +13.8% |
| Accrued charges and deferred income | 492/3 | €3,362 | €4,995 | +€1,632 | +48.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,513 | €23,660 | +€146 | +0.6% |
| Other operating charges | 640/8 | €9,268 | €8,999 | -€269 | -2.9% |
| Gross operating margin | 9900 | €43,725 | €271,638 | +€227,913 | +521% |
| Operating profit (loss) | 9901 | €10,943 | €238,979 | +€228,036 | +2,084% |
| Financial income | 75/76B | €128 | €219 | +€91 | +71.5% |
| Recurring financial income | 75 | €128 | €219 | +€91 | +71.5% |
| Financial charges | 65/66B | €10,388 | €11,748 | +€1,360 | +13.1% |
| Recurring financial charges | 65 | €10,388 | €11,748 | +€1,360 | +13.1% |
| Profit (loss) for the period before taxes | 9903 | €683 | €227,450 | +€226,767 | +33,181% |
| Transfer from deferred taxes | 780 | - | €9,057 | +€9,057 | |
| Transfer to deferred taxes | 680 | - | €59,732 | +€59,732 | |
| Income taxes | 67/77 | - | -€9 | -€9 | |
| Profit (loss) for the period | 9904 | €683 | €176,784 | +€176,101 | +25,767% |
| Transfer from tax-exempt reserves | 789 | - | €27,170 | +€27,170 | |
| Transfer to tax-exempt reserves | 689 | - | €179,197 | +€179,197 | |
| Profit (loss) for the period to be appropriated | 9905 | €683 | €24,757 | +€24,074 | +3,522% |
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.