DF & Associés: 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.
DF & Associés
Largest movements
- Cash +€72,587
up €72,587 (+343%), from €21,152 to €93,739
mainly Accrued charges and deferred income (+€44,462) and Tax, wage and social debts (+€23,930)
- Receivables within one year -€14,016
down €14,016 (-8.2%), from €170,163 to €156,147
of which Trade receivables: -€33,703
- Deferred charges and accrued income -€9,259
down €9,259 (-63.6%), from €14,558 to €5,299
- Financial fixed assets +€4,845
new in 2025: €4,845
- Accrued charges and deferred income +€44,462
up €44,462 (+59.9%), from €74,226 to €118,688
- Tax, wage and social debts +€23,930
up €23,930 (+119%), from €20,179 to €44,109
- Trade debts -€21,472
down €21,472 (-74.1%), from €28,961 to €7,489
- Reserves +€8,500
up €8,500 (+11.3%), from €75,400 to €83,900
- Gross operating margin -€11,267
down €11,267 (-41.1%), from €27,409 to €16,142
- Taxes -€2,981
down €2,981 (-36.5%), from €8,172 to €5,191
- Depreciation -€1,568
down €1,568 (-46.8%), from €3,351 to €1,783
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 | €209,474 | €261,848 | +€52,374 | +25.0% |
| Fixed assets | 21/28 | €3,601 | €6,663 | +€3,062 | +85.0% |
| Tangible fixed assets | 22/27 | €3,601 | €1,818 | -€1,783 | -49.5% |
| Furniture and vehicles | 24 | €3,601 | €1,818 | -€1,783 | -49.5% |
| Financial fixed assets | 28 | - | €4,845 | +€4,845 | |
| Current assets | 29/58 | €205,873 | €255,185 | +€49,312 | +24.0% |
| Amounts receivable within one year | 40/41 | €170,163 | €156,147 | -€14,016 | -8.2% |
| Trade receivables | 40 | €170,163 | €136,460 | -€33,703 | -19.8% |
| Other amounts receivable | 41 | - | €19,687 | +€19,687 | |
| Cash at bank and in hand | 54/58 | €21,152 | €93,739 | +€72,587 | +343% |
| Deferred charges and accrued income | 490/1 | €14,558 | €5,299 | -€9,259 | -63.6% |
| Total equity and liabilities | 10/49 | €209,474 | €261,848 | +€52,374 | +25.0% |
| Equity | 10/15 | €80,612 | €89,260 | +€8,648 | +10.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €75,400 | €83,900 | +€8,500 | +11.3% |
| Distributable reserves | 133 | €75,400 | €83,900 | +€8,500 | +11.3% |
| Profit (loss) carried forward | 14 | €212 | €360 | +€148 | +69.8% |
| Amounts payable | 17/49 | €128,862 | €172,588 | +€43,726 | +33.9% |
| Amounts payable after more than one year | 17 | €1,339 | - | -€1,339 | |
| Financial debts | 170/4 | €1,339 | - | -€1,339 | |
| Amounts payable within one year | 42/48 | €53,297 | €53,900 | +€603 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €3,225 | €1,344 | -€1,881 | -58.3% |
| Trade debts | 44 | €28,961 | €7,489 | -€21,472 | -74.1% |
| Suppliers | 440/4 | €28,961 | €7,489 | -€21,472 | -74.1% |
| Taxes, remuneration and social security | 45 | €20,179 | €44,109 | +€23,930 | +119% |
| Taxes | 450/3 | €20,179 | €44,109 | +€23,930 | +119% |
| Other amounts payable | 47/48 | €932 | €958 | +€26 | +2.8% |
| Accrued charges and deferred income | 492/3 | €74,226 | €118,688 | +€44,462 | +59.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,351 | €1,783 | -€1,568 | -46.8% |
| Other operating charges | 640/8 | - | €114 | +€114 | |
| Gross operating margin | 9900 | €27,409 | €16,142 | -€11,267 | -41.1% |
| Operating profit (loss) | 9901 | €24,058 | €14,245 | -€9,813 | -40.8% |
| Financial charges | 65/66B | €346 | €406 | +€60 | +17.3% |
| Recurring financial charges | 65 | €346 | €406 | +€60 | +17.3% |
| Profit (loss) for the period before taxes | 9903 | €23,712 | €13,839 | -€9,873 | -41.6% |
| Income taxes | 67/77 | €8,172 | €5,191 | -€2,981 | -36.5% |
| Profit (loss) for the period | 9904 | €15,540 | €8,648 | -€6,892 | -44.4% |
| Profit (loss) for the period to be appropriated | 9905 | €15,540 | €8,648 | -€6,892 | -44.4% |
Source: filed annual accounts (NBB), financial years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.