D en V: 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.
D en V
Largest movements
- Tangible fixed assets -€25,883
down €25,883 (-3.4%), from €759,812 to €733,930
of which Land and buildings: -€26,854
- Debts after one year -€37,743
down €37,743 (-5.9%), from €635,146 to €597,403
of which Financial debts: -€37,743
- Profit (loss) carried forward +€17,541
up €17,541, from -€12,994 to €4,547
- Other debts -€11,144
down €11,144 (-10.9%), from €101,942 to €90,798
- Gross operating margin +€10,412
up €10,412 (+17.4%), from €60,005 to €70,417
- Financial charges -€1,429
down €1,429 (-10.9%), from €13,072 to €11,643
- Other operating charges -€933
down €933 (-7.2%), from €12,970 to €12,038
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 | €772,589 | €749,096 | -€23,493 | -3.0% |
| Fixed assets | 21/28 | €759,812 | €733,930 | -€25,883 | -3.4% |
| Tangible fixed assets | 22/27 | €759,812 | €733,930 | -€25,883 | -3.4% |
| Land and buildings | 22 | €756,033 | €729,179 | -€26,854 | -3.6% |
| Plant, machinery and equipment | 23 | - | €2,537 | +€2,537 | |
| Other tangible fixed assets | 26 | €3,779 | €2,213 | -€1,566 | -41.4% |
| Current assets | 29/58 | €12,777 | €15,167 | +€2,390 | +18.7% |
| Amounts receivable within one year | 40/41 | €519 | €2,539 | +€2,019 | +389.0% |
| Trade receivables | 40 | €307 | - | -€307 | |
| Other amounts receivable | 41 | €212 | €2,539 | +€2,327 | +1098.0% |
| Cash at bank and in hand | 54/58 | - | €2,953 | +€2,953 | |
| Deferred charges and accrued income | 490/1 | €12,258 | €9,675 | -€2,583 | -21.1% |
| Total equity and liabilities | 10/49 | €772,589 | €749,096 | -€23,493 | -3.0% |
| Equity | 10/15 | -€6,669 | €10,872 | +€17,541 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €125 | €125 | = | 0.0% |
| Distributable reserves | 133 | €125 | €125 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€12,994 | €4,547 | +€17,541 | |
| Amounts payable | 17/49 | €779,258 | €738,225 | -€41,034 | -5.3% |
| Amounts payable after more than one year | 17 | €635,146 | €597,403 | -€37,743 | -5.9% |
| Financial debts | 170/4 | €332,546 | €294,803 | -€37,743 | -11.3% |
| Other amounts payable | 178/9 | €302,600 | €302,600 | = | 0.0% |
| Amounts payable within one year | 42/48 | €144,112 | €138,022 | -€6,091 | -4.2% |
| Current portion of amounts payable after more than one year | 42 | €37,335 | €37,743 | +€408 | +1.1% |
| Financial debts | 43 | €2,446 | - | -€2,446 | |
| Credit institutions | 430/8 | €2,446 | - | -€2,446 | |
| Trade debts | 44 | €2,390 | €8,784 | +€6,394 | +267.5% |
| Suppliers | 440/4 | €2,390 | €8,784 | +€6,394 | +267.5% |
| Taxes, remuneration and social security | 45 | - | €696 | +€696 | |
| Taxes | 450/3 | - | €696 | +€696 | |
| Other amounts payable | 47/48 | €101,942 | €90,798 | -€11,144 | -10.9% |
| Accrued charges and deferred income | 492/3 | - | €2,800 | +€2,800 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,430 | €28,500 | +€69 | +0.2% |
| Other operating charges | 640/8 | €12,970 | €12,038 | -€933 | -7.2% |
| Non-recurring operating charges | 66A | €3,397 | - | -€3,397 | |
| Gross operating margin | 9900 | €60,005 | €70,417 | +€10,412 | +17.4% |
| Operating profit (loss) | 9901 | €15,208 | €29,879 | +€14,672 | +96.5% |
| Financial income | 75/76B | €0 | €1 | +€1 | +8700.0% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +8700.0% |
| Financial charges | 65/66B | €13,072 | €11,643 | -€1,429 | -10.9% |
| Recurring financial charges | 65 | €13,072 | €11,643 | -€1,429 | -10.9% |
| Profit (loss) for the period before taxes | 9903 | €2,136 | €18,238 | +€16,102 | +754.0% |
| Income taxes | 67/77 | - | €696 | +€696 | |
| Profit (loss) for the period | 9904 | €2,136 | €17,541 | +€15,406 | +721.4% |
| Profit (loss) for the period to be appropriated | 9905 | €2,136 | €17,541 | +€15,406 | +721.4% |
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.