DFH MARKET: 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.
DFH MARKET
Largest movements
- Cash +€383,705
up €383,705 (+67.6%), from €567,228 to €950,933
mainly Depreciation (+€402,666) and Current portion of long-term debt (+€174,804)
- Tangible fixed assets -€198,260
down €198,260 (-8.9%), from €2.2m to €2.0m
- Stocks and contracts +€127,525
up €127,525 (+27.5%), from €464,364 to €591,889
- Intangible fixed assets -€92,606
down €92,606 (-11.3%), from €816,961 to €724,355
- Deferred charges and accrued income +€65,376
up €65,376 (+41.9%), from €156,109 to €221,484
- Current portion of long-term debt +€174,804
up €174,804 (+107.4%), from €162,769 to €337,573
- Tax, wage and social debts +€91,351
up €91,351 (+71.8%), from €127,309 to €218,660
of which Remuneration and social security: +€63,993
- Profit (loss) carried forward +€90,959
up €90,959, from -€80,702 to €10,256
- Staff costs -€305,986
down €305,986 (-23.4%), from €1.3m to €1.0m
- Depreciation +€185,148
up €185,148 (+85.1%), from €217,518 to €402,666
- Gross operating margin +€78,900
up €78,900 (+4.8%), from €1.6m to €1.7m
- Financial charges +€40,198
up €40,198 (+30.1%), from €133,767 to €173,965
- Other operating charges -€30,761
down €30,761 (-44.4%), from €69,227 to €38,466
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 | €4,380,136 | €4,726,273 | +€346,137 | +7.9% |
| Formation expenses | 20 | €15,806 | €12,020 | -€3,786 | -24.0% |
| Fixed assets | 21/28 | €3,053,254 | €2,762,388 | -€290,866 | -9.5% |
| Intangible fixed assets | 21 | €816,961 | €724,355 | -€92,606 | -11.3% |
| Tangible fixed assets | 22/27 | €2,236,293 | €2,038,033 | -€198,260 | -8.9% |
| Plant, machinery and equipment | 23 | €653,683 | €572,864 | -€80,818 | -12.4% |
| Furniture and vehicles | 24 | €305,830 | €259,445 | -€46,385 | -15.2% |
| Other tangible fixed assets | 26 | €1,276,780 | €1,205,724 | -€71,057 | -5.6% |
| Current assets | 29/58 | €1,311,077 | €1,951,865 | +€640,789 | +48.9% |
| Stocks and contracts in progress | 3 | €464,364 | €591,889 | +€127,525 | +27.5% |
| Stocks | 30/36 | €464,364 | €591,889 | +€127,525 | +27.5% |
| Amounts receivable within one year | 40/41 | €123,376 | €187,559 | +€64,183 | +52.0% |
| Trade receivables | 40 | €13,871 | €133,610 | +€119,739 | +863.3% |
| Other amounts receivable | 41 | €109,505 | €53,949 | -€55,557 | -50.7% |
| Cash at bank and in hand | 54/58 | €567,228 | €950,933 | +€383,705 | +67.6% |
| Deferred charges and accrued income | 490/1 | €156,109 | €221,484 | +€65,376 | +41.9% |
| Total equity and liabilities | 10/49 | €4,380,136 | €4,726,273 | +€346,137 | +7.9% |
| Equity | 10/15 | €149,298 | €240,256 | +€90,959 | +60.9% |
| Contributions | 10/11 | €230,000 | €230,000 | = | 0.0% |
| Capital | 10 | €230,000 | €230,000 | = | 0.0% |
| Issued capital | 100 | €230,000 | €230,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€80,702 | €10,256 | +€90,959 | |
| Amounts payable | 17/49 | €4,230,839 | €4,486,017 | +€255,178 | +6.0% |
| Amounts payable after more than one year | 17 | €2,364,978 | €2,356,932 | -€8,047 | -0.3% |
| Financial debts | 170/4 | €2,361,178 | €2,353,132 | -€8,047 | -0.3% |
| Other amounts payable | 178/9 | €3,800 | €3,800 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,841,522 | €2,076,659 | +€235,137 | +12.8% |
| Current portion of amounts payable after more than one year | 42 | €162,769 | €337,573 | +€174,804 | +107.4% |
| Trade debts | 44 | €1,321,732 | €1,295,552 | -€26,180 | -2.0% |
| Suppliers | 440/4 | €1,321,732 | €1,295,552 | -€26,180 | -2.0% |
| Taxes, remuneration and social security | 45 | €127,309 | €218,660 | +€91,351 | +71.8% |
| Taxes | 450/3 | €11,529 | €38,886 | +€27,358 | +237.3% |
| Remuneration and social security | 454/9 | €115,780 | €179,774 | +€63,993 | +55.3% |
| Other amounts payable | 47/48 | €229,713 | €224,874 | -€4,838 | -2.1% |
| Accrued charges and deferred income | 492/3 | €24,338 | €52,426 | +€28,088 | +115.4% |
| Non-recurring operating income | 76A | - | €94,334 | +€94,334 | |
| Remuneration, social security and pensions | 62 | €1,309,513 | €1,003,528 | -€305,986 | -23.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €217,518 | €402,666 | +€185,148 | +85.1% |
| Other operating charges | 640/8 | €69,227 | €38,466 | -€30,761 | -44.4% |
| Non-recurring operating charges | 66A | €450 | €1,933 | +€1,483 | +329.6% |
| Gross operating margin | 9900 | €1,635,687 | €1,714,588 | +€78,900 | +4.8% |
| Operating profit (loss) | 9901 | €38,979 | €267,995 | +€229,016 | +587.5% |
| Financial income | 75/76B | €14,378 | €17,565 | +€3,187 | +22.2% |
| Recurring financial income | 75 | €14,378 | €17,565 | +€3,187 | +22.2% |
| Financial charges | 65/66B | €133,767 | €173,965 | +€40,198 | +30.1% |
| Recurring financial charges | 65 | €133,767 | €173,965 | +€40,198 | +30.1% |
| Profit (loss) for the period before taxes | 9903 | -€80,410 | €111,596 | +€192,005 | |
| Income taxes | 67/77 | €293 | €20,637 | +€20,344 | +6947.2% |
| Profit (loss) for the period | 9904 | -€80,702 | €90,959 | +€171,661 | |
| Profit (loss) for the period to be appropriated | 9905 | -€80,702 | €90,959 | +€171,661 |
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 12 October 2026 via checked.be.