D.B.V.G.: what changed
Two fiscal 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.
D.B.V.G.
Largest movements
- Current investments -€77,911
down €77,911 (-28.0%), from €278,077 to €200,166
- Receivables within one year -€39,702
down €39,702 (-79.4%), from €49,983 to €10,281
of which Trade receivables: -€33,247
- Tangible fixed assets -€9,224
down €9,224 (-34.8%), from €26,472 to €17,248
of which Furniture and vehicles: -€8,930
- Cash -€6,506
down €6,506 (-33.0%), from €19,734 to €13,228
mainly Other debts (-€133,448) and Trade debts (-€2,401)
- Other debts -€133,448
down €133,448 (-88.4%), from €150,989 to €17,541
- Gross operating margin -€10,445
down €10,445 (-52.4%), from €19,917 to €9,471
- Financial charges -€8,770
down €8,770 (-98.7%), from €8,883 to €113
- Financial income -€1,316
down €1,316 (-19.1%), from €6,903 to €5,586
- Taxes -€1,182
down €1,182 (-54.1%), from €2,187 to €1,004
- Depreciation -€252
down €252 (-2.5%), from €10,198 to €9,946
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 | €383,975 | €246,974 | -€137,002 | -35.7% |
| Formation expenses | 20 | €1,681 | €959 | -€722 | -43.0% |
| Fixed assets | 21/28 | €26,722 | €17,498 | -€9,224 | -34.5% |
| Tangible fixed assets | 22/27 | €26,472 | €17,248 | -€9,224 | -34.8% |
| Furniture and vehicles | 24 | €26,178 | €17,248 | -€8,930 | -34.1% |
| Leasing and similar rights | 25 | €294 | €0 | -€294 | -100.0% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €355,572 | €228,516 | -€127,056 | -35.7% |
| Amounts receivable within one year | 40/41 | €49,983 | €10,281 | -€39,702 | -79.4% |
| Trade receivables | 40 | €41,856 | €8,609 | -€33,247 | -79.4% |
| Other amounts receivable | 41 | €8,127 | €1,672 | -€6,455 | -79.4% |
| Current investments | 50/53 | €278,077 | €200,166 | -€77,911 | -28.0% |
| Cash at bank and in hand | 54/58 | €19,734 | €13,228 | -€6,506 | -33.0% |
| Deferred charges and accrued income | 490/1 | €7,779 | €4,841 | -€2,938 | -37.8% |
| Total equity and liabilities | 10/49 | €383,975 | €246,974 | -€137,002 | -35.7% |
| Equity | 10/15 | €223,649 | €224,473 | +€824 | +0.4% |
| Contributions | 10/11 | €118,700 | €118,700 | = | 0.0% |
| Reserves | 13 | €11,132 | €11,132 | = | 0.0% |
| Tax-exempt reserves | 132 | €276 | €276 | = | 0.0% |
| Distributable reserves | 133 | €10,857 | €10,857 | = | 0.0% |
| Profit (loss) carried forward | 14 | €93,817 | €94,640 | +€824 | +0.9% |
| Amounts payable | 17/49 | €160,326 | €22,501 | -€137,825 | -86.0% |
| Amounts payable within one year | 42/48 | €160,326 | €22,501 | -€137,825 | -86.0% |
| Trade debts | 44 | €6,693 | €4,292 | -€2,401 | -35.9% |
| Suppliers | 440/4 | €6,693 | €4,292 | -€2,401 | -35.9% |
| Taxes, remuneration and social security | 45 | €2,644 | €668 | -€1,976 | -74.7% |
| Taxes | 450/3 | €2,644 | €668 | -€1,976 | -74.7% |
| Other amounts payable | 47/48 | €150,989 | €17,541 | -€133,448 | -88.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,198 | €9,946 | -€252 | -2.5% |
| Other operating charges | 640/8 | €967 | €998 | +€31 | +3.2% |
| Non-recurring operating charges | 66A | - | €2,173 | +€2,173 | |
| Gross operating margin | 9900 | €19,917 | €9,471 | -€10,445 | -52.4% |
| Operating profit (loss) | 9901 | €8,752 | -€3,646 | -€12,398 | |
| Financial income | 75/76B | €6,903 | €5,586 | -€1,316 | -19.1% |
| Recurring financial income | 75 | €6,903 | €5,586 | -€1,316 | -19.1% |
| Financial charges | 65/66B | €8,883 | €113 | -€8,770 | -98.7% |
| Recurring financial charges | 65 | €8,883 | €113 | -€8,770 | -98.7% |
| Profit (loss) for the period before taxes | 9903 | €6,772 | €1,828 | -€4,945 | -73.0% |
| Income taxes | 67/77 | €2,187 | €1,004 | -€1,182 | -54.1% |
| Profit (loss) for the period | 9904 | €4,586 | €824 | -€3,762 | -82.0% |
| Profit (loss) for the period to be appropriated | 9905 | €4,586 | €824 | -€3,762 | -82.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.