DUFRASNE: 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.
DUFRASNE
Largest movements
- Current investments -€65,811
down €65,811 (-14.0%), from €470,098 to €404,287
- Cash -€38,048
down €38,048 (-7.0%), from €541,015 to €502,967
mainly Contributions, distributions and other (-€490,000) and Tax, wage and social debts (-€15,628)
- Tangible fixed assets -€20,153
down €20,153 (-9.9%), from €202,822 to €182,670
of which Plant, machinery and equipment: -€13,310
- Receivables within one year -€18,553
down €18,553 (-9.8%), from €189,808 to €171,255
of which Trade receivables: -€18,553
- Reserves -€250,000
down €250,000 (-27.3%), from €916,860 to €666,860
- Other debts +€113,133
up €113,133 (+481.5%), from €23,494 to €136,627
- Tax, wage and social debts -€15,628
down €15,628 (-25.9%), from €60,296 to €44,668
of which Taxes: -€14,175
- Gross operating margin +€53,490
up €53,490 (+10.7%), from €500,297 to €553,786
- Taxes +€17,846
up €17,846 (+19.4%), from €91,910 to €109,756
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 | €1,413,794 | €1,267,265 | -€146,529 | -10.4% |
| Fixed assets | 21/28 | €203,990 | €183,837 | -€20,153 | -9.9% |
| Tangible fixed assets | 22/27 | €202,822 | €182,670 | -€20,153 | -9.9% |
| Land and buildings | 22 | €88,389 | €84,725 | -€3,664 | -4.1% |
| Plant, machinery and equipment | 23 | €106,648 | €93,337 | -€13,310 | -12.5% |
| Furniture and vehicles | 24 | €7,785 | €4,607 | -€3,179 | -40.8% |
| Financial fixed assets | 28 | €1,168 | €1,168 | = | 0.0% |
| Current assets | 29/58 | €1,209,805 | €1,083,428 | -€126,376 | -10.4% |
| Stocks and contracts in progress | 3 | €8,513 | €4,672 | -€3,841 | -45.1% |
| Stocks | 30/36 | €8,513 | €4,672 | -€3,841 | -45.1% |
| Amounts receivable within one year | 40/41 | €189,808 | €171,255 | -€18,553 | -9.8% |
| Trade receivables | 40 | €186,267 | €167,714 | -€18,553 | -10.0% |
| Other amounts receivable | 41 | €3,541 | €3,541 | = | 0.0% |
| Current investments | 50/53 | €470,098 | €404,287 | -€65,811 | -14.0% |
| Cash at bank and in hand | 54/58 | €541,015 | €502,967 | -€38,048 | -7.0% |
| Deferred charges and accrued income | 490/1 | €371 | €247 | -€124 | -33.4% |
| Total equity and liabilities | 10/49 | €1,413,794 | €1,267,265 | -€146,529 | -10.4% |
| Equity | 10/15 | €1,302,027 | €1,056,379 | -€245,647 | -18.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €916,860 | €666,860 | -€250,000 | -27.3% |
| Distributable reserves | 133 | €916,860 | €666,860 | -€250,000 | -27.3% |
| Profit (loss) carried forward | 14 | €366,567 | €370,919 | +€4,353 | +1.2% |
| Amounts payable | 17/49 | €111,768 | €210,886 | +€99,118 | +88.7% |
| Amounts payable within one year | 42/48 | €111,768 | €210,886 | +€99,118 | +88.7% |
| Trade debts | 44 | €27,978 | €29,591 | +€1,613 | +5.8% |
| Suppliers | 440/4 | €27,978 | €29,591 | +€1,613 | +5.8% |
| Taxes, remuneration and social security | 45 | €60,296 | €44,668 | -€15,628 | -25.9% |
| Taxes | 450/3 | €42,524 | €28,348 | -€14,175 | -33.3% |
| Remuneration and social security | 454/9 | €17,772 | €16,320 | -€1,453 | -8.2% |
| Other amounts payable | 47/48 | €23,494 | €136,627 | +€113,133 | +481.5% |
| Remuneration, social security and pensions | 62 | €176,639 | €178,310 | +€1,671 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,169 | €23,419 | +€251 | +1.1% |
| Other operating charges | 640/8 | €4,541 | €3,899 | -€642 | -14.1% |
| Gross operating margin | 9900 | €500,297 | €553,786 | +€53,490 | +10.7% |
| Operating profit (loss) | 9901 | €295,948 | €348,158 | +€52,210 | +17.6% |
| Financial income | 75/76B | €3,474 | €6,731 | +€3,257 | +93.8% |
| Recurring financial income | 75 | €3,474 | €6,731 | +€3,257 | +93.8% |
| Financial charges | 65/66B | €3,047 | €780 | -€2,267 | -74.4% |
| Recurring financial charges | 65 | €3,047 | €780 | -€2,267 | -74.4% |
| Profit (loss) for the period before taxes | 9903 | €296,375 | €354,109 | +€57,734 | +19.5% |
| Income taxes | 67/77 | €91,910 | €109,756 | +€17,846 | +19.4% |
| Profit (loss) for the period | 9904 | €204,465 | €244,353 | +€39,888 | +19.5% |
| Profit (loss) for the period to be appropriated | 9905 | €204,465 | €244,353 | +€39,888 | +19.5% |
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 10 October 2026 via checked.be.