D.V.L.: 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.L.
Largest movements
- Receivables after one year -€50,000
down €50,000 (-31.9%), from €156,940 to €106,940
- Cash -€6,666
down €6,666 (-30.4%), from €21,928 to €15,262
mainly Other debts (-€66,840) and Tax, wage and social debts (-€6,154)
- Tangible fixed assets -€6,000
down €6,000 (-42.7%), from €14,049 to €8,049
of which Other tangible fixed assets: -€4,601
- Other debts -€66,840
down €66,840 (-96.1%), from €69,557 to €2,717
- Reserves +€13,519
up €13,519 (+7.2%), from €188,172 to €201,691
of which Distributable reserves: +€22,819
- Tax, wage and social debts -€6,154
down €6,154 (-54.3%), from €11,324 to €5,170
- Gross operating margin -€6,957
down €6,957 (-25.6%), from €27,158 to €20,201
- Financial income +€2,407
up €2,407 (+30.5%), from €7,893 to €10,299
- Financial charges -€2,244
down €2,244 (-38.3%), from €5,859 to €3,615
- Depreciation -€2,239
down €2,239 (-27.2%), from €8,239 to €6,000
- Taxes -€378
down €378 (-5.0%), from €7,553 to €7,175
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 | €376,223 | €313,561 | -€62,663 | -16.7% |
| Fixed assets | 21/28 | €14,502 | €8,502 | -€6,000 | -41.4% |
| Tangible fixed assets | 22/27 | €14,049 | €8,049 | -€6,000 | -42.7% |
| Furniture and vehicles | 24 | €2,170 | €772 | -€1,399 | -64.4% |
| Other tangible fixed assets | 26 | €11,879 | €7,278 | -€4,601 | -38.7% |
| Financial fixed assets | 28 | €452 | €452 | = | 0.0% |
| Current assets | 29/58 | €361,722 | €305,059 | -€56,663 | -15.7% |
| Amounts receivable after more than one year | 29 | €156,940 | €106,940 | -€50,000 | -31.9% |
| Other amounts receivable | 291 | €156,940 | €106,940 | -€50,000 | -31.9% |
| Amounts receivable within one year | 40/41 | €7,631 | €9,838 | +€2,207 | +28.9% |
| Trade receivables | 40 | €1,258 | €26 | -€1,231 | -97.9% |
| Other amounts receivable | 41 | €6,373 | €9,811 | +€3,439 | +54.0% |
| Current investments | 50/53 | €169,554 | €167,941 | -€1,613 | -1.0% |
| Cash at bank and in hand | 54/58 | €21,928 | €15,262 | -€6,666 | -30.4% |
| Deferred charges and accrued income | 490/1 | €5,670 | €5,078 | -€591 | -10.4% |
| Total equity and liabilities | 10/49 | €376,223 | €313,561 | -€62,663 | -16.7% |
| Equity | 10/15 | €281,172 | €294,691 | +€13,519 | +4.8% |
| Contributions | 10/11 | €93,000 | €93,000 | = | 0.0% |
| Reserves | 13 | €188,172 | €201,691 | +€13,519 | +7.2% |
| Non-distributable reserves | 130/1 | €9,300 | - | -€9,300 | |
| Reserves not available under the articles | 1311 | €9,300 | - | -€9,300 | |
| Distributable reserves | 133 | €178,872 | €201,691 | +€22,819 | +12.8% |
| Amounts payable | 17/49 | €95,051 | €18,870 | -€76,181 | -80.1% |
| Amounts payable within one year | 42/48 | €81,931 | €7,887 | -€74,044 | -90.4% |
| Trade debts | 44 | €1,050 | - | -€1,050 | |
| Suppliers | 440/4 | €1,050 | - | -€1,050 | |
| Taxes, remuneration and social security | 45 | €11,324 | €5,170 | -€6,154 | -54.3% |
| Taxes | 450/3 | €11,324 | €5,170 | -€6,154 | -54.3% |
| Other amounts payable | 47/48 | €69,557 | €2,717 | -€66,840 | -96.1% |
| Accrued charges and deferred income | 492/3 | €13,120 | €10,983 | -€2,137 | -16.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,239 | €6,000 | -€2,239 | -27.2% |
| Other operating charges | 640/8 | €45 | €190 | +€145 | +325% |
| Gross operating margin | 9900 | €27,158 | €20,201 | -€6,957 | -25.6% |
| Operating profit (loss) | 9901 | €18,874 | €14,010 | -€4,864 | -25.8% |
| Financial income | 75/76B | €7,893 | €10,299 | +€2,407 | +30.5% |
| Recurring financial income | 75 | €7,893 | €10,299 | +€2,407 | +30.5% |
| Financial charges | 65/66B | €5,859 | €3,615 | -€2,244 | -38.3% |
| Recurring financial charges | 65 | €5,859 | €3,615 | -€2,244 | -38.3% |
| Profit (loss) for the period before taxes | 9903 | €20,907 | €20,694 | -€213 | -1.0% |
| Income taxes | 67/77 | €7,553 | €7,175 | -€378 | -5.0% |
| Profit (loss) for the period | 9904 | €13,354 | €13,519 | +€164 | +1.2% |
| Profit (loss) for the period to be appropriated | 9905 | €13,354 | €13,519 | +€164 | +1.2% |
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 15 October 2026 via checked.be.