D.P.W.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.W.V.
Largest movements
- Cash +€64,790
up €64,790 (+143%), from €45,222 to €110,012
mainly Debts after one year (+€49,599) and Net result for the year (+€17,157)
- Receivables within one year +€7,861
up €7,861 (+20.4%), from €38,578 to €46,439
of which Trade receivables: +€14,126
- Stocks and contracts +€7,500
up €7,500 (+18.8%), from €40,000 to €47,500
- Intangible fixed assets -€7,000
down €7,000 (-25.0%), from €28,000 to €21,000
- Deferred charges and accrued income -€3,803
down €3,803 (-66.0%), from €5,761 to €1,958
- Debts after one year +€49,599
new in 2025: €49,599
- Reserves +€17,157
up €17,157 (+28.6%), from €60,023 to €77,180
- Current portion of long-term debt +€14,144
new in 2025: €14,144
- Tax, wage and social debts -€11,949
down €11,949 (-24.5%), from €48,809 to €36,860
of which Taxes: -€11,870
- Trade debts -€10,977
down €10,977 (-38.0%), from €28,910 to €17,933
- Gross operating margin -€19,023
down €19,023 (-15.3%), from €124,599 to €105,576
- Taxes -€4,705
down €4,705 (-44.7%), from €10,519 to €5,815
- Staff costs +€3,440
up €3,440 (+5.3%), from €65,530 to €68,970
- Other operating charges +€1,662
up €1,662 (+151%), from €1,099 to €2,761
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 | €172,538 | €238,970 | +€66,432 | +38.5% |
| Fixed assets | 21/28 | €42,976 | €33,060 | -€9,916 | -23.1% |
| Intangible fixed assets | 21 | €28,000 | €21,000 | -€7,000 | -25.0% |
| Tangible fixed assets | 22/27 | €13,776 | €10,860 | -€2,916 | -21.2% |
| Furniture and vehicles | 24 | €9,827 | €7,372 | -€2,455 | -25.0% |
| Other tangible fixed assets | 26 | €3,949 | €3,488 | -€461 | -11.7% |
| Financial fixed assets | 28 | €1,200 | €1,200 | = | 0.0% |
| Current assets | 29/58 | €129,561 | €205,909 | +€76,348 | +58.9% |
| Stocks and contracts in progress | 3 | €40,000 | €47,500 | +€7,500 | +18.8% |
| Stocks | 30/36 | €40,000 | €47,500 | +€7,500 | +18.8% |
| Amounts receivable within one year | 40/41 | €38,578 | €46,439 | +€7,861 | +20.4% |
| Trade receivables | 40 | €25,629 | €39,754 | +€14,126 | +55.1% |
| Other amounts receivable | 41 | €12,950 | €6,685 | -€6,264 | -48.4% |
| Cash at bank and in hand | 54/58 | €45,222 | €110,012 | +€64,790 | +143% |
| Deferred charges and accrued income | 490/1 | €5,761 | €1,958 | -€3,803 | -66.0% |
| Total equity and liabilities | 10/49 | €172,538 | €238,970 | +€66,432 | +38.5% |
| Equity | 10/15 | €65,023 | €82,180 | +€17,157 | +26.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €60,023 | €77,180 | +€17,157 | +28.6% |
| Distributable reserves | 133 | €60,023 | €77,180 | +€17,157 | +28.6% |
| Amounts payable | 17/49 | €107,514 | €156,790 | +€49,275 | +45.8% |
| Amounts payable after more than one year | 17 | - | €49,599 | +€49,599 | |
| Financial debts | 170/4 | - | €49,599 | +€49,599 | |
| Amounts payable within one year | 42/48 | €104,514 | €104,191 | -€324 | -0.3% |
| Current portion of amounts payable after more than one year | 42 | - | €14,144 | +€14,144 | |
| Financial debts | 43 | - | €4,167 | +€4,167 | |
| Credit institutions | 430/8 | - | €4,167 | +€4,167 | |
| Trade debts | 44 | €28,910 | €17,933 | -€10,977 | -38.0% |
| Suppliers | 440/4 | €28,910 | €17,933 | -€10,977 | -38.0% |
| Taxes, remuneration and social security | 45 | €48,809 | €36,860 | -€11,949 | -24.5% |
| Taxes | 450/3 | €41,355 | €29,485 | -€11,870 | -28.7% |
| Remuneration and social security | 454/9 | €7,453 | €7,374 | -€79 | -1.1% |
| Other amounts payable | 47/48 | €26,795 | €31,088 | +€4,292 | +16.0% |
| Accrued charges and deferred income | 492/3 | €3,000 | €3,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €65,530 | €68,970 | +€3,440 | +5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,331 | €9,916 | +€584 | +6.3% |
| Other operating charges | 640/8 | €1,099 | €2,761 | +€1,662 | +151% |
| Gross operating margin | 9900 | €124,599 | €105,576 | -€19,023 | -15.3% |
| Operating profit (loss) | 9901 | €48,638 | €23,928 | -€24,710 | -50.8% |
| Financial income | 75/76B | €22 | €36 | +€13 | +61.1% |
| Recurring financial income | 75 | €22 | €36 | +€13 | +61.1% |
| Financial charges | 65/66B | €256 | €993 | +€737 | +288% |
| Recurring financial charges | 65 | €256 | €993 | +€737 | +288% |
| Profit (loss) for the period before taxes | 9903 | €48,405 | €22,971 | -€25,433 | -52.5% |
| Income taxes | 67/77 | €10,519 | €5,815 | -€4,705 | -44.7% |
| Profit (loss) for the period | 9904 | €37,885 | €17,157 | -€20,729 | -54.7% |
| Profit (loss) for the period to be appropriated | 9905 | €37,885 | €17,157 | -€20,729 | -54.7% |
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 14 October 2026 via checked.be.