DIRECT FACTORY: 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.
DIRECT FACTORY
Largest movements
- Stocks and contracts -€35,833
down €35,833 (-23.5%), from €152,698 to €116,866
- Receivables within one year -€26,024
down €26,024 (-40.4%), from €64,349 to €38,325
of which Other amounts receivable: -€19,041
- Debts after one year -€29,683
down €29,683 (-33.5%), from €88,541 to €58,858
- Tax, wage and social debts -€18,906
down €18,906 (-48.0%), from €39,409 to €20,503
of which Taxes: -€16,774
- Profit (loss) carried forward -€12,326
down €12,326 (-15.0%), from -€82,049 to -€94,375
- Other debts +€8,824
new in 2025: €8,824
- Trade debts -€8,451
down €8,451 (-10.4%), from €81,150 to €72,699
- Financial income +€77,561
up €77,561 (+2,784%), from €2,786 to €80,346
- Gross operating margin +€31,515
up €31,515 (+57.4%), from -€54,908 to -€23,392
- Staff costs +€25,777
up €25,777 (+108%), from €23,944 to €49,721
- Other operating charges +€7,936
up €7,936 (+261%), from €3,036 to €10,972
- Financial charges -€5,783
down €5,783 (-42.1%), from €13,744 to €7,961
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 | €230,308 | €172,026 | -€58,282 | -25.3% |
| Fixed assets | 21/28 | €8,216 | €9,590 | +€1,374 | +16.7% |
| Intangible fixed assets | 21 | - | €1,595 | +€1,595 | |
| Tangible fixed assets | 22/27 | €416 | €196 | -€220 | -53.0% |
| Furniture and vehicles | 24 | €416 | €196 | -€220 | -53.0% |
| Financial fixed assets | 28 | €7,800 | €7,800 | = | 0.0% |
| Current assets | 29/58 | €222,092 | €162,436 | -€59,656 | -26.9% |
| Stocks and contracts in progress | 3 | €152,698 | €116,866 | -€35,833 | -23.5% |
| Stocks | 30/36 | €152,698 | €116,866 | -€35,833 | -23.5% |
| Amounts receivable within one year | 40/41 | €64,349 | €38,325 | -€26,024 | -40.4% |
| Trade receivables | 40 | €44,602 | €37,619 | -€6,983 | -15.7% |
| Other amounts receivable | 41 | €19,747 | €706 | -€19,041 | -96.4% |
| Cash at bank and in hand | 54/58 | €4,596 | €5,199 | +€603 | +13.1% |
| Deferred charges and accrued income | 490/1 | €449 | €2,046 | +€1,597 | +356% |
| Total equity and liabilities | 10/49 | €230,308 | €172,026 | -€58,282 | -25.3% |
| Equity | 10/15 | -€42,049 | -€54,375 | -€12,326 | -29.3% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€82,049 | -€94,375 | -€12,326 | -15.0% |
| Amounts payable | 17/49 | €272,357 | €226,400 | -€45,957 | -16.9% |
| Amounts payable after more than one year | 17 | €88,541 | €58,858 | -€29,683 | -33.5% |
| Financial debts | 170/4 | €88,541 | €58,858 | -€29,683 | -33.5% |
| Amounts payable within one year | 42/48 | €183,816 | €167,542 | -€16,274 | -8.9% |
| Current portion of amounts payable after more than one year | 42 | €41,388 | €38,147 | -€3,241 | -7.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €81,150 | €72,699 | -€8,451 | -10.4% |
| Suppliers | 440/4 | €81,150 | €72,699 | -€8,451 | -10.4% |
| Advances received on contracts in progress | 46 | €21,869 | €27,369 | +€5,500 | +25.2% |
| Taxes, remuneration and social security | 45 | €39,409 | €20,503 | -€18,906 | -48.0% |
| Taxes | 450/3 | €36,267 | €19,493 | -€16,774 | -46.3% |
| Remuneration and social security | 454/9 | €3,142 | €1,011 | -€2,131 | -67.8% |
| Other amounts payable | 47/48 | - | €8,824 | +€8,824 | |
| Remuneration, social security and pensions | 62 | €23,944 | €49,721 | +€25,777 | +108% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €220 | €626 | +€405 | +184% |
| Other operating charges | 640/8 | €3,036 | €10,972 | +€7,936 | +261% |
| Gross operating margin | 9900 | -€54,908 | -€23,392 | +€31,515 | +57.4% |
| Operating profit (loss) | 9901 | -€82,109 | -€84,711 | -€2,603 | -3.2% |
| Financial income | 75/76B | €2,786 | €80,346 | +€77,561 | +2,784% |
| Recurring financial income | 75 | €2,786 | €80,346 | +€77,561 | +2,784% |
| Financial charges | 65/66B | €13,744 | €7,961 | -€5,783 | -42.1% |
| Recurring financial charges | 65 | €13,744 | €7,961 | -€5,783 | -42.1% |
| Profit (loss) for the period before taxes | 9903 | -€93,067 | -€12,326 | +€80,741 | +86.8% |
| Profit (loss) for the period | 9904 | -€93,067 | -€12,326 | +€80,741 | +86.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€93,067 | -€12,326 | +€80,741 | +86.8% |
Source: filed annual accounts (NBB), financial years ended 31 January 2024 and 31 January 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.