D.V.H.: 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.H.
Largest movements
- Tangible fixed assets -€41,200
down €41,200 (-35.7%), from €115,274 to €74,074
of which Plant, machinery and equipment: -€27,448
- Cash -€27,538
down €27,538 (-48.3%), from €57,030 to €29,492
mainly Debts after one year (-€25,826) and Receivables within one year (-€18,534)
- Receivables within one year +€18,534
up €18,534 (+8.3%), from €224,584 to €243,118
of which Other amounts receivable: +€12,012
- Debts after one year -€25,826
down €25,826 (-46.8%), from €55,130 to €29,304
- Other debts -€18,000
no longer reported in 2025 (was €18,000)
- Accrued charges and deferred income -€17,566
down €17,566 (-72.3%), from €24,307 to €6,741
- Profit (loss) carried forward +€17,055
up €17,055 (+7.2%), from €236,618 to €253,672
- Tax, wage and social debts -€6,831
down €6,831 (-49.5%), from €13,806 to €6,974
of which Taxes: -€3,505
- Gross operating margin -€69,300
down €69,300 (-34.8%), from €199,076 to €129,776
- Staff costs -€38,337
down €38,337 (-39.5%), from €97,001 to €58,664
- Taxes -€4,295
down €4,295 (-44.1%), from €9,748 to €5,453
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 | €401,500 | €349,338 | -€52,162 | -13.0% |
| Fixed assets | 21/28 | €115,364 | €74,164 | -€41,200 | -35.7% |
| Tangible fixed assets | 22/27 | €115,274 | €74,074 | -€41,200 | -35.7% |
| Land and buildings | 22 | €4,489 | €2,604 | -€1,884 | -42.0% |
| Plant, machinery and equipment | 23 | €82,504 | €55,056 | -€27,448 | -33.3% |
| Furniture and vehicles | 24 | €28,281 | €16,414 | -€11,868 | -42.0% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €286,136 | €275,174 | -€10,962 | -3.8% |
| Amounts receivable within one year | 40/41 | €224,584 | €243,118 | +€18,534 | +8.3% |
| Trade receivables | 40 | €36,996 | €43,518 | +€6,522 | +17.6% |
| Other amounts receivable | 41 | €187,588 | €199,600 | +€12,012 | +6.4% |
| Cash at bank and in hand | 54/58 | €57,030 | €29,492 | -€27,538 | -48.3% |
| Deferred charges and accrued income | 490/1 | €4,522 | €2,564 | -€1,958 | -43.3% |
| Total equity and liabilities | 10/49 | €401,500 | €349,338 | -€52,162 | -13.0% |
| Equity | 10/15 | €259,520 | €276,574 | +€17,055 | +6.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Contributions outside capital | 11 | €12,400 | €12,400 | = | 0.0% |
| Other | 1109/19 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €10,502 | €10,502 | = | 0.0% |
| Distributable reserves | 133 | €10,502 | €10,502 | = | 0.0% |
| Profit (loss) carried forward | 14 | €236,618 | €253,672 | +€17,055 | +7.2% |
| Amounts payable | 17/49 | €141,980 | €72,763 | -€69,217 | -48.8% |
| Amounts payable after more than one year | 17 | €55,130 | €29,304 | -€25,826 | -46.8% |
| Financial debts | 170/4 | €55,130 | €29,304 | -€25,826 | -46.8% |
| Amounts payable within one year | 42/48 | €62,543 | €36,719 | -€25,824 | -41.3% |
| Current portion of amounts payable after more than one year | 42 | €28,378 | €25,826 | -€2,552 | -9.0% |
| Financial debts | 43 | €1,334 | €1,334 | = | 0.0% |
| Credit institutions | 430/8 | €1,334 | €1,334 | = | 0.0% |
| Trade debts | 44 | €1,024 | €990 | -€35 | -3.4% |
| Suppliers | 440/4 | €1,024 | €990 | -€35 | -3.4% |
| Advances received on contracts in progress | 46 | - | €1,594 | +€1,594 | |
| Taxes, remuneration and social security | 45 | €13,806 | €6,974 | -€6,831 | -49.5% |
| Taxes | 450/3 | €9,521 | €6,016 | -€3,505 | -36.8% |
| Remuneration and social security | 454/9 | €4,285 | €958 | -€3,327 | -77.6% |
| Other amounts payable | 47/48 | €18,000 | - | -€18,000 | |
| Accrued charges and deferred income | 492/3 | €24,307 | €6,741 | -€17,566 | -72.3% |
| Remuneration, social security and pensions | 62 | €97,001 | €58,664 | -€38,337 | -39.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,554 | €42,604 | +€1,050 | +2.5% |
| Other operating charges | 640/8 | €2,616 | €2,674 | +€58 | +2.2% |
| Gross operating margin | 9900 | €199,076 | €129,776 | -€69,300 | -34.8% |
| Operating profit (loss) | 9901 | €57,904 | €25,834 | -€32,070 | -55.4% |
| Financial income | 75/76B | €40 | €198 | +€158 | +395% |
| Recurring financial income | 75 | €40 | €198 | +€158 | +395% |
| Financial charges | 65/66B | €4,435 | €3,525 | -€910 | -20.5% |
| Recurring financial charges | 65 | €4,435 | €3,525 | -€910 | -20.5% |
| Profit (loss) for the period before taxes | 9903 | €53,509 | €22,508 | -€31,002 | -57.9% |
| Income taxes | 67/77 | €9,748 | €5,453 | -€4,295 | -44.1% |
| Profit (loss) for the period | 9904 | €43,761 | €17,055 | -€26,707 | -61.0% |
| Profit (loss) for the period to be appropriated | 9905 | €43,761 | €17,055 | -€26,707 | -61.0% |
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 16 October 2026 via checked.be.