DFR: 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.
DFR
Largest movements
- Cash +€61,532
up €61,532 (+48.3%), from €127,438 to €188,969
mainly Other debts (+€151,542) and Net result for the year (+€52,880)
- Tangible fixed assets +€21,520
up €21,520 (+59.3%), from €36,307 to €57,826
of which Furniture and vehicles: +€23,810
- Receivables within one year -€13,132
down €13,132 (-29.7%), from €44,225 to €31,093
of which Trade receivables: -€17,442
- Other debts +€151,542
up €151,542 (+1461.4%), from €10,370 to €161,911
- Profit (loss) carried forward -€107,120
down €107,120 (-81.2%), from €131,905 to €24,784
- Debts after one year +€17,175
up €17,175 (+92.6%), from €18,553 to €35,728
- Trade debts +€11,959
up €11,959 (+84.7%), from €14,121 to €26,080
- Tax, wage and social debts -€9,321
down €9,321 (-35.2%), from €26,466 to €17,145
of which Taxes: -€12,685
- Gross operating margin -€36,003
down €36,003 (-28.6%), from €125,932 to €89,929
- Taxes -€8,315
down €8,315 (-38.3%), from €21,682 to €13,368
- Depreciation +€4,217
up €4,217 (+32.1%), from €13,119 to €17,337
- Financial charges -€1,590
down €1,590 (-95.0%), from €1,673 to €83
of which Non-recurring financial charges: -€1,750
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 | €207,970 | €277,889 | +€69,919 | +33.6% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €36,307 | €57,826 | +€21,520 | +59.3% |
| Tangible fixed assets | 22/27 | €36,307 | €57,826 | +€21,520 | +59.3% |
| Plant, machinery and equipment | 23 | €5,732 | €3,443 | -€2,290 | -39.9% |
| Furniture and vehicles | 24 | €30,574 | €54,384 | +€23,810 | +77.9% |
| Current assets | 29/58 | €171,663 | €220,063 | +€48,400 | +28.2% |
| Amounts receivable within one year | 40/41 | €44,225 | €31,093 | -€13,132 | -29.7% |
| Trade receivables | 40 | €44,219 | €26,777 | -€17,442 | -39.4% |
| Other amounts receivable | 41 | €6 | €4,316 | +€4,310 | +71717.3% |
| Cash at bank and in hand | 54/58 | €127,438 | €188,969 | +€61,532 | +48.3% |
| Total equity and liabilities | 10/49 | €207,970 | €277,889 | +€69,919 | +33.6% |
| Equity | 10/15 | €132,905 | €25,784 | -€107,120 | -80.6% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €131,905 | €24,784 | -€107,120 | -81.2% |
| Amounts payable | 17/49 | €75,065 | €252,105 | +€177,040 | +235.8% |
| Amounts payable after more than one year | 17 | €18,553 | €35,728 | +€17,175 | +92.6% |
| Financial debts | 170/4 | €18,553 | €35,728 | +€17,175 | +92.6% |
| Amounts payable within one year | 42/48 | €56,512 | €216,377 | +€159,865 | +282.9% |
| Current portion of amounts payable after more than one year | 42 | €5,556 | €11,240 | +€5,684 | +102.3% |
| Trade debts | 44 | €14,121 | €26,080 | +€11,959 | +84.7% |
| Suppliers | 440/4 | €14,121 | €26,080 | +€11,959 | +84.7% |
| Taxes, remuneration and social security | 45 | €26,466 | €17,145 | -€9,321 | -35.2% |
| Taxes | 450/3 | €26,053 | €13,368 | -€12,685 | -48.7% |
| Remuneration and social security | 454/9 | €413 | €3,778 | +€3,365 | +815.0% |
| Other amounts payable | 47/48 | €10,370 | €161,911 | +€151,542 | +1461.4% |
| Remuneration, social security and pensions | 62 | €5,051 | €5,991 | +€940 | +18.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,119 | €17,337 | +€4,217 | +32.1% |
| Other operating charges | 640/8 | - | €361 | +€361 | |
| Gross operating margin | 9900 | €125,932 | €89,929 | -€36,003 | -28.6% |
| Operating profit (loss) | 9901 | €107,762 | €66,240 | -€41,521 | -38.5% |
| Financial income | 75/76B | €0 | €90 | +€90 | +90360.0% |
| Recurring financial income | 75 | €0 | €90 | +€90 | +90360.0% |
| Financial charges | 65/66B | €1,673 | €83 | -€1,590 | -95.0% |
| Recurring financial charges | 65 | €1,673 | €1,833 | +€161 | +9.6% |
| Non-recurring financial charges | 66B | - | -€1,750 | -€1,750 | |
| Profit (loss) for the period before taxes | 9903 | €106,089 | €66,248 | -€39,842 | -37.6% |
| Income taxes | 67/77 | €21,682 | €13,368 | -€8,315 | -38.3% |
| Profit (loss) for the period | 9904 | €84,407 | €52,880 | -€31,527 | -37.4% |
| Profit (loss) for the period to be appropriated | 9905 | €84,407 | €52,880 | -€31,527 | -37.4% |
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 30 September 2026 via checked.be.