DR. D. DEFRANCQ: what changed
DR. D. DEFRANCQ
Largest movements
- Tangible fixed assets +€63,007
up €63,007 (+387%), from €16,284 to €79,290
of which Furniture and vehicles: +€68,664
- Cash -€56,454
down €56,454 (-13.8%), from €410,220 to €353,765
mainly Contributions, distributions and other (-€132,912) and Investment in fixed assets (net) (-€73,131)
- Current investments +€37,361
up €37,361 (+14.7%), from €254,988 to €292,349
- Deferred charges and accrued income +€25,739
up €25,739 (+40.2%), from €64,056 to €89,795
- Reserves +€40,861
up €40,861 (+5.7%), from €712,978 to €753,838
- Tax, wage and social debts +€28,974
up €28,974 (+426%), from €6,802 to €35,777
- Gross operating margin +€70,549
up €70,549 (+36.9%), from €191,088 to €261,637
- Taxes +€23,295
up €23,295 (+40.0%), from €58,267 to €81,561
- Depreciation +€3,383
up €3,383 (+50.2%), from €6,742 to €10,124
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €745,547 | €815,200 | +€69,652 | +9.3% |
| Fixed assets | 21/28 | €16,284 | €79,290 | +€63,007 | +387% |
| Tangible fixed assets | 22/27 | €16,284 | €79,290 | +€63,007 | +387% |
| Furniture and vehicles | 24 | - | €68,664 | +€68,664 | |
| Other tangible fixed assets | 26 | €16,284 | €10,626 | -€5,658 | -34.7% |
| Current assets | 29/58 | €729,264 | €735,909 | +€6,646 | +0.9% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Current investments | 50/53 | €254,988 | €292,349 | +€37,361 | +14.7% |
| Cash at bank and in hand | 54/58 | €410,220 | €353,765 | -€56,454 | -13.8% |
| Deferred charges and accrued income | 490/1 | €64,056 | €89,795 | +€25,739 | +40.2% |
| Total equity and liabilities | 10/49 | €745,547 | €815,200 | +€69,652 | +9.3% |
| Equity | 10/15 | €731,578 | €772,438 | +€40,861 | +5.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €712,978 | €753,838 | +€40,861 | +5.7% |
| Distributable reserves | 133 | €712,978 | €753,838 | +€40,861 | +5.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €13,970 | €42,762 | +€28,792 | +206% |
| Amounts payable within one year | 42/48 | €13,970 | €42,762 | +€28,792 | +206% |
| Financial debts | 43 | €2,735 | €1,454 | -€1,281 | -46.8% |
| Credit institutions | 430/8 | €2,735 | €1,454 | -€1,281 | -46.8% |
| Trade debts | 44 | €179 | €129 | -€50 | -27.8% |
| Suppliers | 440/4 | €179 | €129 | -€50 | -27.8% |
| Taxes, remuneration and social security | 45 | €6,802 | €35,777 | +€28,974 | +426% |
| Taxes | 450/3 | €6,802 | €35,777 | +€28,974 | +426% |
| Other amounts payable | 47/48 | €4,253 | €5,402 | +€1,149 | +27.0% |
| Non-recurring operating income | 76A | - | €5,000 | +€5,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,742 | €10,124 | +€3,383 | +50.2% |
| Other operating charges | 640/8 | €1,559 | €1,647 | +€88 | +5.7% |
| Gross operating margin | 9900 | €191,088 | €261,637 | +€70,549 | +36.9% |
| Operating profit (loss) | 9901 | €182,788 | €249,865 | +€67,077 | +36.7% |
| Financial income | 75/76B | €4,881 | €4,292 | -€588 | -12.1% |
| Recurring financial income | 75 | €4,881 | €4,292 | -€588 | -12.1% |
| Financial charges | 65/66B | -€3,765 | -€1,177 | +€2,588 | +68.7% |
| Recurring financial charges | 65 | -€3,765 | -€1,177 | +€2,588 | +68.7% |
| Profit (loss) for the period before taxes | 9903 | €191,433 | €255,334 | +€63,901 | +33.4% |
| Income taxes | 67/77 | €58,267 | €81,561 | +€23,295 | +40.0% |
| Profit (loss) for the period | 9904 | €133,167 | €173,773 | +€40,606 | +30.5% |
| Profit (loss) for the period to be appropriated | 9905 | €133,167 | €173,773 | +€40,606 | +30.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.