D.V.C.: 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.V.C.
Largest movements
- Stocks and contracts -€153,725
down €153,725 (-83.7%), from €183,725 to €30,000
- Tangible fixed assets -€88,823
down €88,823 (-39.7%), from €223,565 to €134,741
of which Land and buildings: -€78,148
- Receivables within one year -€32,272
down €32,272 (-38.5%), from €83,826 to €51,554
of which Trade receivables: -€28,446
- Cash -€7,251
down €7,251 (-8.9%), from €81,882 to €74,631
mainly Net result for the year (-€163,963) and Debts after one year (-€131,056)
- Deferred charges and accrued income -€6,200
down €6,200 (-35.3%), from €17,545 to €11,345
- Profit (loss) carried forward -€163,963
down €163,963 (-80.4%), from -€203,905 to -€367,869
- Debts after one year -€131,056
down €131,056 (-21.5%), from €609,625 to €478,570
of which Other amounts payable: -€123,063
- Trade debts +€9,090
up €9,090 (+39867.5%), from €23 to €9,113
- Write-downs +€89,573
new in 2025: €89,573
- Gross operating margin -€29,287
down €29,287 (-91.6%), from -€31,973 to -€61,260
- Depreciation -€20,711
down €20,711 (-66.0%), from €31,386 to €10,676
- Other operating charges -€2,345
down €2,345 (-66.0%), from €3,553 to €1,207
- Financial income -€958
down €958 (-100.0%), from €958 to €0
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 | €590,813 | €302,541 | -€288,272 | -48.8% |
| Fixed assets | 21/28 | €223,835 | €135,011 | -€88,823 | -39.7% |
| Tangible fixed assets | 22/27 | €223,565 | €134,741 | -€88,823 | -39.7% |
| Land and buildings | 22 | €199,213 | €121,065 | -€78,148 | -39.2% |
| Furniture and vehicles | 24 | €24,352 | €13,676 | -€10,676 | -43.8% |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €366,978 | €167,530 | -€199,448 | -54.3% |
| Stocks and contracts in progress | 3 | €183,725 | €30,000 | -€153,725 | -83.7% |
| Stocks | 30/36 | €183,725 | €30,000 | -€153,725 | -83.7% |
| Amounts receivable within one year | 40/41 | €83,826 | €51,554 | -€32,272 | -38.5% |
| Trade receivables | 40 | €80,000 | €51,554 | -€28,446 | -35.6% |
| Other amounts receivable | 41 | €3,826 | €0 | -€3,826 | -100.0% |
| Cash at bank and in hand | 54/58 | €81,882 | €74,631 | -€7,251 | -8.9% |
| Deferred charges and accrued income | 490/1 | €17,545 | €11,345 | -€6,200 | -35.3% |
| Total equity and liabilities | 10/49 | €590,813 | €302,541 | -€288,272 | -48.8% |
| Equity | 10/15 | -€30,093 | -€194,056 | -€163,963 | -544.9% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Capital | 10 | €70,000 | €70,000 | = | 0.0% |
| Issued capital | 100 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €103,812 | €103,812 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,000 | €7,000 | = | 0.0% |
| Legal reserve | 130 | €7,000 | €7,000 | = | 0.0% |
| Distributable reserves | 133 | €96,812 | €96,812 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€203,905 | -€367,869 | -€163,963 | -80.4% |
| Amounts payable | 17/49 | €620,906 | €496,598 | -€124,308 | -20.0% |
| Amounts payable after more than one year | 17 | €609,625 | €478,570 | -€131,056 | -21.5% |
| Financial debts | 170/4 | €7,993 | €0 | -€7,993 | -100.0% |
| Other amounts payable | 178/9 | €601,632 | €478,570 | -€123,063 | -20.5% |
| Amounts payable within one year | 42/48 | €11,281 | €18,028 | +€6,747 | +59.8% |
| Current portion of amounts payable after more than one year | 42 | €9,177 | €7,993 | -€1,184 | -12.9% |
| Trade debts | 44 | €23 | €9,113 | +€9,090 | +39867.5% |
| Suppliers | 440/4 | €23 | €9,113 | +€9,090 | +39867.5% |
| Taxes, remuneration and social security | 45 | €2,081 | €922 | -€1,158 | -55.7% |
| Taxes | 450/3 | €2,081 | €922 | -€1,158 | -55.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,386 | €10,676 | -€20,711 | -66.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €89,573 | +€89,573 | |
| Other operating charges | 640/8 | €3,553 | €1,207 | -€2,345 | -66.0% |
| Gross operating margin | 9900 | -€31,973 | -€61,260 | -€29,287 | -91.6% |
| Operating profit (loss) | 9901 | -€66,912 | -€162,716 | -€95,804 | -143.2% |
| Financial income | 75/76B | €958 | €0 | -€958 | -100.0% |
| Recurring financial income | 75 | €958 | €0 | -€958 | -100.0% |
| Financial charges | 65/66B | €1,300 | €1,107 | -€193 | -14.9% |
| Recurring financial charges | 65 | €1,300 | €1,107 | -€193 | -14.9% |
| Profit (loss) for the period before taxes | 9903 | -€67,254 | -€163,823 | -€96,568 | -143.6% |
| Income taxes | 67/77 | €140 | €141 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | -€67,394 | -€163,963 | -€96,570 | -143.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€67,394 | -€163,963 | -€96,570 | -143.3% |
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 5 October 2026 via checked.be.