DEPHI & Co: 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.
DEPHI & Co
Largest movements
- Current investments +€125,000
new in 2025: €125,000
- Cash -€108,206
down €108,206 (-45.5%), from €237,893 to €129,686
mainly Current investments (-€125,000) and Net result for the year (-€31,457)
- Tangible fixed assets -€36,076
down €36,076 (-7.7%), from €465,732 to €429,656
of which Land and buildings: -€28,025
- Profit (loss) carried forward -€31,457
down €31,457 (-39.9%), from -€78,903 to -€110,360
- Debts after one year -€21,880
down €21,880 (-7.5%), from €290,367 to €268,486
- Other debts +€20,061
up €20,061 (+26.4%), from €76,101 to €96,162
- Other operating charges +€6,873
new in 2025: €6,873
- Write-downs -€6,645
no longer reported in 2025 (was €6,645)
- Depreciation -€2,129
down €2,129 (-3.9%), from €54,234 to €52,105
- Financial charges -€1,928
down €1,928 (-19.5%), from €9,881 to €7,953
- Gross operating margin +€981
up €981 (+2.8%), from €34,490 to €35,471
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 | €735,596 | €710,618 | -€24,978 | -3.4% |
| Fixed assets | 21/28 | €471,792 | €435,716 | -€36,076 | -7.6% |
| Tangible fixed assets | 22/27 | €465,732 | €429,656 | -€36,076 | -7.7% |
| Land and buildings | 22 | €405,829 | €377,804 | -€28,025 | -6.9% |
| Plant, machinery and equipment | 23 | €34,697 | €43,441 | +€8,745 | +25.2% |
| Furniture and vehicles | 24 | €7,026 | €7,070 | +€44 | +0.6% |
| Leasing and similar rights | 25 | €16,530 | - | -€16,530 | |
| Other tangible fixed assets | 26 | €1,651 | €1,342 | -€309 | -18.7% |
| Financial fixed assets | 28 | €6,060 | €6,060 | = | 0.0% |
| Current assets | 29/58 | €263,805 | €274,902 | +€11,097 | +4.2% |
| Amounts receivable within one year | 40/41 | €24,001 | €18,074 | -€5,927 | -24.7% |
| Trade receivables | 40 | €24,001 | €18,074 | -€5,927 | -24.7% |
| Current investments | 50/53 | - | €125,000 | +€125,000 | |
| Cash at bank and in hand | 54/58 | €237,893 | €129,686 | -€108,206 | -45.5% |
| Deferred charges and accrued income | 490/1 | €1,911 | €2,142 | +€231 | +12.1% |
| Total equity and liabilities | 10/49 | €735,596 | €710,618 | -€24,978 | -3.4% |
| Equity | 10/15 | €339,954 | €308,497 | -€31,457 | -9.3% |
| Contributions | 10/11 | €418,592 | €418,592 | = | 0.0% |
| Reserves | 13 | €265 | €265 | = | 0.0% |
| Non-distributable reserves | 130/1 | €265 | €265 | = | 0.0% |
| Reserves not available under the articles | 1311 | €265 | €265 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€78,903 | -€110,360 | -€31,457 | -39.9% |
| Amounts payable | 17/49 | €395,642 | €402,121 | +€6,479 | +1.6% |
| Amounts payable after more than one year | 17 | €290,367 | €268,486 | -€21,880 | -7.5% |
| Financial debts | 170/4 | €290,367 | €268,486 | -€21,880 | -7.5% |
| Amounts payable within one year | 42/48 | €105,276 | €133,635 | +€28,359 | +26.9% |
| Current portion of amounts payable after more than one year | 42 | €20,879 | €21,880 | +€1,001 | +4.8% |
| Trade debts | 44 | €3,223 | €5,187 | +€1,963 | +60.9% |
| Suppliers | 440/4 | €3,223 | €5,187 | +€1,963 | +60.9% |
| Taxes, remuneration and social security | 45 | €5,072 | €10,406 | +€5,334 | +105% |
| Taxes | 450/3 | €5,072 | €10,406 | +€5,334 | +105% |
| Other amounts payable | 47/48 | €76,101 | €96,162 | +€20,061 | +26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,234 | €52,105 | -€2,129 | -3.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,645 | - | -€6,645 | |
| Other operating charges | 640/8 | - | €6,873 | +€6,873 | |
| Gross operating margin | 9900 | €34,490 | €35,471 | +€981 | +2.8% |
| Operating profit (loss) | 9901 | -€26,390 | -€23,507 | +€2,883 | +10.9% |
| Financial income | 75/76B | €1 | €3 | +€2 | +244% |
| Recurring financial income | 75 | €1 | €3 | +€2 | +244% |
| Financial charges | 65/66B | €9,881 | €7,953 | -€1,928 | -19.5% |
| Recurring financial charges | 65 | €9,881 | €7,953 | -€1,928 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | -€36,270 | -€31,457 | +€4,813 | +13.3% |
| Profit (loss) for the period | 9904 | -€36,270 | -€31,457 | +€4,813 | +13.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€36,270 | -€31,457 | +€4,813 | +13.3% |
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 22 October 2026 via checked.be.