DFG: what changed
Two fiscal 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.
DFG
Largest movements
- Tangible fixed assets +€29,103
up €29,103 (+96.4%), from €30,200 to €59,303
of which Furniture and vehicles: +€33,131
- Cash +€7,756
up €7,756 (+6.3%), from €123,858 to €131,614
mainly Debts after one year (+€15,272) and Depreciation (+€14,446)
- Receivables within one year -€4,521
down €4,521 (-37.1%), from €12,198 to €7,678
of which Trade receivables: -€5,496
- Debts after one year +€15,272
new in 2025: €15,272
- Reserves +€7,709
up €7,709 (+10.5%), from €73,216 to €80,925
of which Distributable reserves: +€7,709
- Other debts +€6,014
up €6,014 (+9.8%), from €61,660 to €67,674
- Current portion of long-term debt +€3,796
new in 2025: €3,796
- Trade debts -€2,976
down €2,976 (-39.3%), from €7,565 to €4,589
- Gross operating margin -€11,656
down €11,656 (-25.7%), from €45,315 to €33,659
- Taxes -€3,674
down €3,674 (-43.7%), from €8,401 to €4,727
- Depreciation +€1,305
up €1,305 (+9.9%), from €13,141 to €14,446
- Financial charges +€912
up €912 (+27.4%), from €3,326 to €4,238
- Other operating charges -€591
down €591 (-17.5%), from €3,381 to €2,790
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.
Cash bridge derived
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 | €178,797 | €210,298 | +€31,502 | +17.6% |
| Fixed assets | 21/28 | €30,200 | €59,303 | +€29,103 | +96.4% |
| Tangible fixed assets | 22/27 | €30,200 | €59,303 | +€29,103 | +96.4% |
| Land and buildings | 22 | €8,672 | €4,628 | -€4,044 | -46.6% |
| Plant, machinery and equipment | 23 | €13,755 | €13,772 | +€16 | +0.1% |
| Furniture and vehicles | 24 | €7,773 | €40,903 | +€33,131 | +426.2% |
| Current assets | 29/58 | €148,597 | €150,996 | +€2,399 | +1.6% |
| Stocks and contracts in progress | 3 | €9,179 | €8,522 | -€657 | -7.2% |
| Stocks | 30/36 | €9,179 | €8,522 | -€657 | -7.2% |
| Amounts receivable within one year | 40/41 | €12,198 | €7,678 | -€4,521 | -37.1% |
| Trade receivables | 40 | €10,465 | €4,968 | -€5,496 | -52.5% |
| Other amounts receivable | 41 | €1,734 | €2,709 | +€976 | +56.3% |
| Cash at bank and in hand | 54/58 | €123,858 | €131,614 | +€7,756 | +6.3% |
| Deferred charges and accrued income | 490/1 | €3,361 | €3,182 | -€179 | -5.3% |
| Total equity and liabilities | 10/49 | €178,797 | €210,298 | +€31,502 | +17.6% |
| Equity | 10/15 | €91,816 | €99,525 | +€7,709 | +8.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €73,216 | €80,925 | +€7,709 | +10.5% |
| Tax-exempt reserves | 132 | €10,661 | €10,661 | = | 0.0% |
| Distributable reserves | 133 | €62,555 | €70,264 | +€7,709 | +12.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €86,981 | €110,773 | +€23,793 | +27.4% |
| Amounts payable after more than one year | 17 | - | €15,272 | +€15,272 | |
| Financial debts | 170/4 | - | €15,272 | +€15,272 | |
| Amounts payable within one year | 42/48 | €83,844 | €91,799 | +€7,955 | +9.5% |
| Current portion of amounts payable after more than one year | 42 | - | €3,796 | +€3,796 | |
| Trade debts | 44 | €7,565 | €4,589 | -€2,976 | -39.3% |
| Suppliers | 440/4 | €7,565 | €4,589 | -€2,976 | -39.3% |
| Advances received on contracts in progress | 46 | €10,313 | €10,785 | +€472 | +4.6% |
| Taxes, remuneration and social security | 45 | €4,307 | €4,955 | +€648 | +15.0% |
| Taxes | 450/3 | €4,307 | €4,955 | +€648 | +15.0% |
| Other amounts payable | 47/48 | €61,660 | €67,674 | +€6,014 | +9.8% |
| Accrued charges and deferred income | 492/3 | €3,136 | €3,702 | +€566 | +18.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,141 | €14,446 | +€1,305 | +9.9% |
| Other operating charges | 640/8 | €3,381 | €2,790 | -€591 | -17.5% |
| Gross operating margin | 9900 | €45,315 | €33,659 | -€11,656 | -25.7% |
| Operating profit (loss) | 9901 | €28,793 | €16,423 | -€12,370 | -43.0% |
| Financial income | 75/76B | €614 | €1,051 | +€437 | +71.1% |
| Recurring financial income | 75 | €614 | €1,051 | +€437 | +71.1% |
| Financial charges | 65/66B | €3,326 | €4,238 | +€912 | +27.4% |
| Recurring financial charges | 65 | €3,326 | €4,238 | +€912 | +27.4% |
| Profit (loss) for the period before taxes | 9903 | €26,081 | €13,236 | -€12,845 | -49.3% |
| Income taxes | 67/77 | €8,401 | €4,727 | -€3,674 | -43.7% |
| Profit (loss) for the period | 9904 | €17,680 | €8,509 | -€9,171 | -51.9% |
| Profit (loss) for the period to be appropriated | 9905 | €17,680 | €8,509 | -€9,171 | -51.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.