D.V.A.P: 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.V.A.P
Largest movements
- Cash +€77,533
up €77,533 (+73.2%), from €105,923 to €183,455
mainly Net result for the year (+€100,764) and Depreciation (+€78,037)
- Tangible fixed assets -€44,434
down €44,434 (-31.8%), from €139,725 to €95,291
- Receivables within one year -€35,948
down €35,948 (-30.6%), from €117,656 to €81,707
of which Other amounts receivable: -€26,430
- Intangible fixed assets -€30,164
down €30,164 (-19.3%), from €156,164 to €126,000
- Stocks and contracts -€8,202
down €8,202 (-3.7%), from €223,738 to €215,536
- Debts after one year -€72,991
down €72,991 (-74.4%), from €98,146 to €25,155
- Other debts +€35,184
up €35,184 (+53.3%), from €66,000 to €101,184
- Trade debts +€29,711
up €29,711 (+10.8%), from €274,793 to €304,504
- Accrued charges and deferred income -€28,112
down €28,112 (-24.1%), from €116,506 to €88,394
- Depreciation -€16,467
down €16,467 (-17.4%), from €94,505 to €78,037
- Gross operating margin +€10,123
up €10,123 (+2.2%), from €461,903 to €472,026
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 | €754,486 | €717,392 | -€37,094 | -4.9% |
| Formation expenses | 20 | €414 | - | -€414 | |
| Fixed assets | 21/28 | €297,890 | €223,291 | -€74,599 | -25.0% |
| Intangible fixed assets | 21 | €156,164 | €126,000 | -€30,164 | -19.3% |
| Tangible fixed assets | 22/27 | €139,725 | €95,291 | -€44,434 | -31.8% |
| Land and buildings | 22 | €36,122 | €21,494 | -€14,628 | -40.5% |
| Plant, machinery and equipment | 23 | €39,047 | €17,552 | -€21,494 | -55.0% |
| Furniture and vehicles | 24 | €856 | €1,265 | +€409 | +47.8% |
| Other tangible fixed assets | 26 | €63,701 | €54,980 | -€8,721 | -13.7% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Current assets | 29/58 | €456,182 | €494,101 | +€37,918 | +8.3% |
| Stocks and contracts in progress | 3 | €223,738 | €215,536 | -€8,202 | -3.7% |
| Stocks | 30/36 | €223,738 | €215,536 | -€8,202 | -3.7% |
| Amounts receivable within one year | 40/41 | €117,656 | €81,707 | -€35,948 | -30.6% |
| Trade receivables | 40 | €15,532 | €6,013 | -€9,518 | -61.3% |
| Other amounts receivable | 41 | €102,124 | €75,694 | -€26,430 | -25.9% |
| Cash at bank and in hand | 54/58 | €105,923 | €183,455 | +€77,533 | +73.2% |
| Deferred charges and accrued income | 490/1 | €8,866 | €13,402 | +€4,536 | +51.2% |
| Total equity and liabilities | 10/49 | €754,486 | €717,392 | -€37,094 | -4.9% |
| Equity | 10/15 | €67,669 | €68,433 | +€764 | +1.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19 | €783 | +€764 | +3,974% |
| Amounts payable | 17/49 | €686,816 | €648,958 | -€37,858 | -5.5% |
| Amounts payable after more than one year | 17 | €98,146 | €25,155 | -€72,991 | -74.4% |
| Financial debts | 170/4 | €98,146 | €25,155 | -€72,991 | -74.4% |
| Amounts payable within one year | 42/48 | €472,165 | €535,410 | +€63,245 | +13.4% |
| Current portion of amounts payable after more than one year | 42 | €76,614 | €72,991 | -€3,623 | -4.7% |
| Trade debts | 44 | €274,793 | €304,504 | +€29,711 | +10.8% |
| Suppliers | 440/4 | €274,793 | €304,504 | +€29,711 | +10.8% |
| Taxes, remuneration and social security | 45 | €54,758 | €56,731 | +€1,973 | +3.6% |
| Taxes | 450/3 | €21,128 | €16,521 | -€4,607 | -21.8% |
| Remuneration and social security | 454/9 | €33,630 | €40,210 | +€6,580 | +19.6% |
| Other amounts payable | 47/48 | €66,000 | €101,184 | +€35,184 | +53.3% |
| Accrued charges and deferred income | 492/3 | €116,506 | €88,394 | -€28,112 | -24.1% |
| Remuneration, social security and pensions | 62 | €278,582 | €280,106 | +€1,524 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,505 | €78,037 | -€16,467 | -17.4% |
| Other operating charges | 640/8 | €4,649 | €2,881 | -€1,768 | -38.0% |
| Gross operating margin | 9900 | €461,903 | €472,026 | +€10,123 | +2.2% |
| Operating profit (loss) | 9901 | €84,167 | €111,002 | +€26,835 | +31.9% |
| Financial income | 75/76B | €246 | €2,806 | +€2,560 | +1,039% |
| Recurring financial income | 75 | €246 | €2,806 | +€2,560 | +1,039% |
| Financial charges | 65/66B | €13,327 | €8,776 | -€4,550 | -34.1% |
| Recurring financial charges | 65 | €13,327 | €8,776 | -€4,550 | -34.1% |
| Profit (loss) for the period before taxes | 9903 | €71,087 | €105,031 | +€33,945 | +47.8% |
| Income taxes | 67/77 | €5,453 | €4,268 | -€1,186 | -21.7% |
| Profit (loss) for the period | 9904 | €65,634 | €100,764 | +€35,130 | +53.5% |
| Profit (loss) for the period to be appropriated | 9905 | €65,634 | €100,764 | +€35,130 | +53.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.