DSolve[Derivative[1][y][x] == (1/4 + y[x]/4 - (3*x*y[x])/8 - (x*y[x]^2)/4 + (3*x^2*y[x]^2)/16 + y[x]^3/4 - (x*y[x]^3)/2 + (x^2*y[x]^3)/16 - (x^3*y[x]^3)/32)/(x*y[x]),y[x],x]