NF DEPAFIN: 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.
NF DEPAFIN
Largest movements
- Cash +€44,361
up €44,361 (+38.8%), from €114,408 to €158,769
mainly Other debts (+€129,793) and Receivables within one year (+€39,698)
- Receivables within one year -€39,698
down €39,698 (-99.6%), from €39,853 to €155
of which Trade receivables: -€39,853
- Tangible fixed assets -€18,234
down €18,234 (-94.9%), from €19,216 to €983
- Other debts +€129,793
up €129,793 (+15,315%), from €847 to €130,641
- Profit (loss) carried forward -€114,280
down €114,280 (-94.6%), from €120,805 to €6,525
- Debts after one year -€12,399
no longer reported in 2025 (was €12,399)
- Current portion of long-term debt -€8,806
no longer reported in 2025 (was €8,806)
- Tax, wage and social debts -€6,738
down €6,738 (-29.1%), from €23,134 to €16,396
of which Taxes: -€3,738
- Gross operating margin -€61,073
down €61,073 (-74.4%), from €82,044 to €20,971
- Depreciation -€13,922
down €13,922 (-94.1%), from €14,797 to €875
- Taxes -€10,489
down €10,489 (-78.0%), from €13,443 to €2,954
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 | €173,477 | €159,907 | -€13,570 | -7.8% |
| Fixed assets | 21/28 | €19,216 | €983 | -€18,234 | -94.9% |
| Tangible fixed assets | 22/27 | €19,216 | €983 | -€18,234 | -94.9% |
| Furniture and vehicles | 24 | €19,216 | €983 | -€18,234 | -94.9% |
| Current assets | 29/58 | €154,261 | €158,925 | +€4,664 | +3.0% |
| Amounts receivable within one year | 40/41 | €39,853 | €155 | -€39,698 | -99.6% |
| Trade receivables | 40 | €39,853 | - | -€39,853 | |
| Other amounts receivable | 41 | - | €155 | +€155 | |
| Cash at bank and in hand | 54/58 | €114,408 | €158,769 | +€44,361 | +38.8% |
| Total equity and liabilities | 10/49 | €173,477 | €159,907 | -€13,570 | -7.8% |
| Equity | 10/15 | €126,805 | €12,525 | -€114,280 | -90.1% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €120,805 | €6,525 | -€114,280 | -94.6% |
| Amounts payable | 17/49 | €46,672 | €147,382 | +€100,710 | +216% |
| Amounts payable after more than one year | 17 | €12,399 | - | -€12,399 | |
| Financial debts | 170/4 | €12,399 | - | -€12,399 | |
| Amounts payable within one year | 42/48 | €33,889 | €147,382 | +€113,493 | +335% |
| Current portion of amounts payable after more than one year | 42 | €8,806 | - | -€8,806 | |
| Trade debts | 44 | €1,101 | €345 | -€756 | -68.7% |
| Suppliers | 440/4 | €1,101 | €345 | -€756 | -68.7% |
| Taxes, remuneration and social security | 45 | €23,134 | €16,396 | -€6,738 | -29.1% |
| Taxes | 450/3 | €20,134 | €16,396 | -€3,738 | -18.6% |
| Remuneration and social security | 454/9 | €3,000 | - | -€3,000 | |
| Other amounts payable | 47/48 | €847 | €130,641 | +€129,793 | +15,315% |
| Accrued charges and deferred income | 492/3 | €384 | - | -€384 | |
| Non-recurring operating income | 76A | - | €823 | +€823 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,797 | €875 | -€13,922 | -94.1% |
| Other operating charges | 640/8 | €896 | €446 | -€450 | -50.3% |
| Gross operating margin | 9900 | €82,044 | €20,971 | -€61,073 | -74.4% |
| Operating profit (loss) | 9901 | €66,352 | €19,651 | -€46,701 | -70.4% |
| Financial charges | 65/66B | €1,379 | €977 | -€402 | -29.2% |
| Recurring financial charges | 65 | €1,379 | €977 | -€402 | -29.2% |
| Profit (loss) for the period before taxes | 9903 | €64,972 | €18,674 | -€46,298 | -71.3% |
| Income taxes | 67/77 | €13,443 | €2,954 | -€10,489 | -78.0% |
| Profit (loss) for the period | 9904 | €51,530 | €15,720 | -€35,810 | -69.5% |
| Profit (loss) for the period to be appropriated | 9905 | €51,530 | €15,720 | -€35,810 | -69.5% |
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 23 October 2026 via checked.be.