DFIN: 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.
DFIN
Largest movements
- Receivables after one year +€189,250
new in 2025: €189,250
- Receivables within one year -€120,123
down €120,123 (-100%), from €120,123 to €0
- Intangible fixed assets -€30,714
down €30,714 (-33.3%), from €92,143 to €61,429
- Cash -€5,480
down €5,480 (-84.1%), from €6,519 to €1,039
mainly Receivables after one year (-€189,250) and Debts after one year (-€14,932)
- Reserves +€35,618
up €35,618 (+28.8%), from €123,709 to €159,327
- Debts after one year -€14,932
down €14,932 (-46.1%), from €32,414 to €17,482
- Tax, wage and social debts +€12,970
up €12,970 (+30.7%), from €42,291 to €55,261
- Gross operating margin -€21,491
down €21,491 (-20.8%), from €103,561 to €82,070
- Taxes -€5,317
down €5,317 (-25.1%), from €21,224 to €15,907
- Financial income +€2,103
up €2,103 (+44.7%), from €4,705 to €6,808
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 | €219,809 | €252,741 | +€32,932 | +15.0% |
| Fixed assets | 21/28 | €92,143 | €61,429 | -€30,714 | -33.3% |
| Intangible fixed assets | 21 | €92,143 | €61,429 | -€30,714 | -33.3% |
| Current assets | 29/58 | €127,666 | €191,313 | +€63,646 | +49.9% |
| Amounts receivable after more than one year | 29 | - | €189,250 | +€189,250 | |
| Other amounts receivable | 291 | - | €189,250 | +€189,250 | |
| Amounts receivable within one year | 40/41 | €120,123 | €0 | -€120,123 | -100% |
| Other amounts receivable | 41 | €120,123 | €0 | -€120,123 | -100% |
| Cash at bank and in hand | 54/58 | €6,519 | €1,039 | -€5,480 | -84.1% |
| Deferred charges and accrued income | 490/1 | €1,024 | €1,024 | = | 0.0% |
| Total equity and liabilities | 10/49 | €219,809 | €252,741 | +€32,932 | +15.0% |
| Equity | 10/15 | €126,709 | €162,327 | +€35,618 | +28.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €123,709 | €159,327 | +€35,618 | +28.8% |
| Distributable reserves | 133 | €123,709 | €159,327 | +€35,618 | +28.8% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €93,100 | €90,414 | -€2,686 | -2.9% |
| Amounts payable after more than one year | 17 | €32,414 | €17,482 | -€14,932 | -46.1% |
| Financial debts | 170/4 | €32,414 | €17,482 | -€14,932 | -46.1% |
| Amounts payable within one year | 42/48 | €60,686 | €72,933 | +€12,246 | +20.2% |
| Current portion of amounts payable after more than one year | 42 | €14,333 | €14,932 | +€600 | +4.2% |
| Trade debts | 44 | €4,062 | €2,739 | -€1,323 | -32.6% |
| Suppliers | 440/4 | €4,062 | €2,739 | -€1,323 | -32.6% |
| Taxes, remuneration and social security | 45 | €42,291 | €55,261 | +€12,970 | +30.7% |
| Taxes | 450/3 | €42,291 | €55,261 | +€12,970 | +30.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €2,542 | +€2,542 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,714 | €30,714 | = | 0.0% |
| Other operating charges | 640/8 | €511 | €1,420 | +€909 | +178% |
| Gross operating margin | 9900 | €103,561 | €82,070 | -€21,491 | -20.8% |
| Operating profit (loss) | 9901 | €72,336 | €49,936 | -€22,400 | -31.0% |
| Financial income | 75/76B | €4,705 | €6,808 | +€2,103 | +44.7% |
| Recurring financial income | 75 | €4,705 | €6,808 | +€2,103 | +44.7% |
| Financial charges | 65/66B | €5,329 | €5,219 | -€111 | -2.1% |
| Recurring financial charges | 65 | €5,329 | €5,219 | -€111 | -2.1% |
| Profit (loss) for the period before taxes | 9903 | €71,711 | €51,525 | -€20,186 | -28.1% |
| Income taxes | 67/77 | €21,224 | €15,907 | -€5,317 | -25.1% |
| Profit (loss) for the period | 9904 | €50,487 | €35,618 | -€14,869 | -29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €50,487 | €35,618 | -€14,869 | -29.5% |
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 19 October 2026 via checked.be.