DFR-1: 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-1
Largest movements
- Tangible fixed assets -€37,619
down €37,619 (-2.9%), from €1.3m to €1.2m
of which Land and buildings: -€40,233
- Debts after one year -€67,492
down €67,492 (-5.9%), from €1.1m to €1.1m
- Profit (loss) carried forward +€28,791
up €28,791 (+17.2%), from -€166,963 to -€138,172
- Gross operating margin +€8,008
up €8,008 (+9.9%), from €81,269 to €89,277
- Other operating charges -€1,919
down €1,919 (-21.1%), from €9,114 to €7,196
- Financial charges -€949
down €949 (-7.0%), from €13,616 to €12,667
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 | €1,288,592 | €1,253,219 | -€35,373 | -2.7% |
| Fixed assets | 21/28 | €1,283,823 | €1,246,204 | -€37,619 | -2.9% |
| Tangible fixed assets | 22/27 | €1,283,823 | €1,246,204 | -€37,619 | -2.9% |
| Land and buildings | 22 | €1,280,971 | €1,240,738 | -€40,233 | -3.1% |
| Plant, machinery and equipment | 23 | €2,851 | €5,466 | +€2,615 | +91.7% |
| Current assets | 29/58 | €4,769 | €7,015 | +€2,246 | +47.1% |
| Amounts receivable within one year | 40/41 | - | €3,398 | +€3,398 | |
| Trade receivables | 40 | - | €3,398 | +€3,398 | |
| Cash at bank and in hand | 54/58 | €3,443 | €2,241 | -€1,202 | -34.9% |
| Deferred charges and accrued income | 490/1 | €1,326 | €1,376 | +€50 | +3.8% |
| Total equity and liabilities | 10/49 | €1,288,592 | €1,253,219 | -€35,373 | -2.7% |
| Equity | 10/15 | -€161,963 | -€133,172 | +€28,791 | +17.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€166,963 | -€138,172 | +€28,791 | +17.2% |
| Amounts payable | 17/49 | €1,450,555 | €1,386,391 | -€64,163 | -4.4% |
| Amounts payable after more than one year | 17 | €1,135,480 | €1,067,989 | -€67,492 | -5.9% |
| Financial debts | 170/4 | €1,135,480 | €1,067,989 | -€67,492 | -5.9% |
| Amounts payable within one year | 42/48 | €315,074 | €317,113 | +€2,038 | +0.6% |
| Current portion of amounts payable after more than one year | 42 | €66,796 | €67,492 | +€695 | +1.0% |
| Trade debts | 44 | €4,234 | €1,374 | -€2,861 | -67.6% |
| Suppliers | 440/4 | €4,234 | €1,374 | -€2,861 | -67.6% |
| Other amounts payable | 47/48 | €244,044 | €248,247 | +€4,204 | +1.7% |
| Accrued charges and deferred income | 492/3 | - | €1,290 | +€1,290 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,548 | €40,624 | +€76 | +0.2% |
| Other operating charges | 640/8 | €9,114 | €7,196 | -€1,919 | -21.1% |
| Gross operating margin | 9900 | €81,269 | €89,277 | +€8,008 | +9.9% |
| Operating profit (loss) | 9901 | €31,606 | €41,457 | +€9,851 | +31.2% |
| Financial charges | 65/66B | €13,616 | €12,667 | -€949 | -7.0% |
| Recurring financial charges | 65 | €13,616 | €12,667 | -€949 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €17,991 | €28,791 | +€10,800 | +60.0% |
| Profit (loss) for the period | 9904 | €17,991 | €28,791 | +€10,800 | +60.0% |
| Profit (loss) for the period to be appropriated | 9905 | €17,991 | €28,791 | +€10,800 | +60.0% |
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 6 October 2026 via checked.be.