DEFASCO: 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.
DEFASCO
Largest movements
- Current investments -€197,986
down €197,986 (-36.8%), from €537,984 to €339,998
- Cash +€28,994
up €28,994 (+11.6%), from €250,711 to €279,705
mainly Current investments (+€197,986) and Depreciation (+€20,651)
- Tangible fixed assets -€19,555
down €19,555 (-25.9%), from €75,554 to €56,000
of which Furniture and vehicles: -€17,973
- Reserves -€201,085
down €201,085 (-24.2%), from €829,979 to €628,893
- Other debts +€14,313
up €14,313 (+25.7%), from €55,727 to €70,040
- Gross operating margin -€83,023
down €83,023 (-48.9%), from €169,892 to €86,869
- Financial charges +€46,430
up €46,430 (+1104.1%), from €4,205 to €50,635
- Taxes -€40,041
down €40,041 (-80.1%), from €49,961 to €9,920
- Financial income -€17,736
down €17,736 (-55.0%), from €32,249 to €14,512
- Depreciation -€5,034
down €5,034 (-19.6%), from €25,685 to €20,651
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 | €904,336 | €712,435 | -€191,902 | -21.2% |
| Fixed assets | 21/28 | €75,554 | €56,000 | -€19,555 | -25.9% |
| Tangible fixed assets | 22/27 | €75,554 | €56,000 | -€19,555 | -25.9% |
| Plant, machinery and equipment | 23 | €12,806 | €11,224 | -€1,582 | -12.4% |
| Furniture and vehicles | 24 | €62,749 | €44,776 | -€17,973 | -28.6% |
| Current assets | 29/58 | €828,782 | €656,435 | -€172,347 | -20.8% |
| Amounts receivable within one year | 40/41 | €38,181 | €30,203 | -€7,977 | -20.9% |
| Trade receivables | 40 | €30,740 | €3,997 | -€26,743 | -87.0% |
| Other amounts receivable | 41 | €7,441 | €26,206 | +€18,765 | +252.2% |
| Current investments | 50/53 | €537,984 | €339,998 | -€197,986 | -36.8% |
| Cash at bank and in hand | 54/58 | €250,711 | €279,705 | +€28,994 | +11.6% |
| Deferred charges and accrued income | 490/1 | €1,907 | €6,529 | +€4,622 | +242.4% |
| Total equity and liabilities | 10/49 | €904,336 | €712,435 | -€191,902 | -21.2% |
| Equity | 10/15 | €842,379 | €641,293 | -€201,085 | -23.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €829,979 | €628,893 | -€201,085 | -24.2% |
| Distributable reserves | 133 | €829,979 | €628,893 | -€201,085 | -24.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €61,958 | €71,142 | +€9,184 | +14.8% |
| Amounts payable within one year | 42/48 | €61,958 | €71,142 | +€9,184 | +14.8% |
| Trade debts | 44 | €4,615 | €299 | -€4,316 | -93.5% |
| Suppliers | 440/4 | €4,615 | €299 | -€4,316 | -93.5% |
| Taxes, remuneration and social security | 45 | €1,616 | €803 | -€814 | -50.3% |
| Taxes | 450/3 | €1,616 | €803 | -€814 | -50.3% |
| Other amounts payable | 47/48 | €55,727 | €70,040 | +€14,313 | +25.7% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €9,050 | €0 | -€9,050 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,685 | €20,651 | -€5,034 | -19.6% |
| Other operating charges | 640/8 | €571 | €603 | +€32 | +5.5% |
| Gross operating margin | 9900 | €169,892 | €86,869 | -€83,023 | -48.9% |
| Operating profit (loss) | 9901 | €143,636 | €65,615 | -€78,020 | -54.3% |
| Financial income | 75/76B | €32,249 | €14,512 | -€17,736 | -55.0% |
| Recurring financial income | 75 | €32,249 | €14,512 | -€17,736 | -55.0% |
| Financial charges | 65/66B | €4,205 | €50,635 | +€46,430 | +1104.1% |
| Recurring financial charges | 65 | €4,205 | €50,635 | +€46,430 | +1104.1% |
| Profit (loss) for the period before taxes | 9903 | €171,679 | €29,493 | -€142,186 | -82.8% |
| Income taxes | 67/77 | €49,961 | €9,920 | -€40,041 | -80.1% |
| Profit (loss) for the period | 9904 | €121,718 | €19,573 | -€102,145 | -83.9% |
| Profit (loss) for the period to be appropriated | 9905 | €121,718 | €19,573 | -€102,145 | -83.9% |
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.