D.P. & 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.P. & V.
Largest movements
- Receivables within one year +€52,021
up €52,021 (+2,049%), from €2,539 to €54,560
of which Trade receivables: +€54,560
- Cash -€46,037
down €46,037 (-44.1%), from €104,301 to €58,264
mainly Debts after one year (-€84,024) and Receivables within one year (-€52,021)
- Tangible fixed assets -€39,532
down €39,532 (-3.6%), from €1.1m to €1.0m
- Current investments +€36,023
up €36,023 (+5.8%), from €623,232 to €659,255
- Debts after one year -€84,024
down €84,024 (-15.8%), from €533,322 to €449,298
- Reserves +€63,870
up €63,870 (+11.0%), from €582,329 to €646,199
- Financial income -€64,075
down €64,075 (-83.1%), from €77,064 to €12,989
- Taxes -€17,607
down €17,607 (-37.1%), from €47,412 to €29,806
- Financial charges -€4,802
down €4,802 (-21.1%), from €22,798 to €17,996
- Gross operating margin -€3,515
down €3,515 (-2.2%), from €160,820 to €157,305
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 | €1,817,964 | €1,820,440 | +€2,476 | +0.1% |
| Fixed assets | 21/28 | €1,087,893 | €1,048,361 | -€39,532 | -3.6% |
| Tangible fixed assets | 22/27 | €1,087,893 | €1,048,361 | -€39,532 | -3.6% |
| Land and buildings | 22 | €1,087,893 | €1,048,361 | -€39,532 | -3.6% |
| Current assets | 29/58 | €730,072 | €772,079 | +€42,007 | +5.8% |
| Amounts receivable within one year | 40/41 | €2,539 | €54,560 | +€52,021 | +2,049% |
| Trade receivables | 40 | - | €54,560 | +€54,560 | |
| Other amounts receivable | 41 | €2,539 | - | -€2,539 | |
| Current investments | 50/53 | €623,232 | €659,255 | +€36,023 | +5.8% |
| Cash at bank and in hand | 54/58 | €104,301 | €58,264 | -€46,037 | -44.1% |
| Total equity and liabilities | 10/49 | €1,817,964 | €1,820,440 | +€2,476 | +0.1% |
| Equity | 10/15 | €1,012,576 | €1,076,446 | +€63,870 | +6.3% |
| Contributions | 10/11 | €427,710 | €427,710 | = | 0.0% |
| Reserves | 13 | €582,329 | €646,199 | +€63,870 | +11.0% |
| Distributable reserves | 133 | €582,329 | €646,199 | +€63,870 | +11.0% |
| Profit (loss) carried forward | 14 | €2,537 | €2,537 | = | 0.0% |
| Amounts payable | 17/49 | €805,388 | €743,994 | -€61,394 | -7.6% |
| Amounts payable after more than one year | 17 | €533,322 | €449,298 | -€84,024 | -15.8% |
| Financial debts | 170/4 | €533,322 | €449,298 | -€84,024 | -15.8% |
| Amounts payable within one year | 42/48 | €272,066 | €294,697 | +€22,630 | +8.3% |
| Current portion of amounts payable after more than one year | 42 | €83,296 | €84,024 | +€729 | +0.9% |
| Trade debts | 44 | €51 | €4,519 | +€4,469 | +8,832% |
| Suppliers | 440/4 | €51 | €4,519 | +€4,469 | +8,832% |
| Taxes, remuneration and social security | 45 | €34,087 | €42,264 | +€8,177 | +24.0% |
| Taxes | 450/3 | €34,087 | €42,264 | +€8,177 | +24.0% |
| Other amounts payable | 47/48 | €154,634 | €163,889 | +€9,255 | +6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,532 | €39,532 | = | 0.0% |
| Other operating charges | 640/8 | €18,510 | €19,091 | +€581 | +3.1% |
| Gross operating margin | 9900 | €160,820 | €157,305 | -€3,515 | -2.2% |
| Operating profit (loss) | 9901 | €102,779 | €98,683 | -€4,096 | -4.0% |
| Financial income | 75/76B | €77,064 | €12,989 | -€64,075 | -83.1% |
| Recurring financial income | 75 | €77,064 | €12,989 | -€64,075 | -83.1% |
| Financial charges | 65/66B | €22,798 | €17,996 | -€4,802 | -21.1% |
| Recurring financial charges | 65 | €22,798 | €17,996 | -€4,802 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | €157,045 | €93,676 | -€63,369 | -40.4% |
| Income taxes | 67/77 | €47,412 | €29,806 | -€17,607 | -37.1% |
| Profit (loss) for the period | 9904 | €109,633 | €63,870 | -€45,763 | -41.7% |
| Profit (loss) for the period to be appropriated | 9905 | €109,633 | €63,870 | -€45,763 | -41.7% |
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 30 October 2026 via checked.be.