D.V.L.I.: 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.
What changed
D.V.L.I.
NACE 02.200, Logging
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€206,302
2024 · €141,883+€64,419
Equity
€1.4m
2024 · €1.3m+€66,301
Cash
€3,237
2024 · €1,491+€1,746
Balance sheet total
€1.8m
2024 · €1.6m+€160,249
Largest movements
Assets
- Receivables within one year +€200,905
up €200,905 (+66.6%), from €301,437 to €502,342
of which Trade receivables: +€102,968
- Tangible fixed assets -€41,422
down €41,422 (-3.1%), from €1.3m to €1.3m
of which Land and buildings: -€29,553
Equity and liabilities
- Other debts +€97,428
up €97,428 (+45.3%), from €214,963 to €312,391
- Profit (loss) carried forward +€74,571
up €74,571 (+10.9%), from €681,563 to €756,134
Income statement
- Gross operating margin +€68,638
up €68,638 (+25.7%), from €266,804 to €335,442
- Taxes +€7,711
up €7,711 (+86.9%), from €8,875 to €16,586
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.
Result 2024
€141,883
Gross operating margin
+€68,638
Depreciation
+€2,754
Other operating charges
+€2,617
Financial charges
-€1,880
Taxes
-€7,711
Result 2025
€206,302
raises the resultlowers the result
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.
From operations
+€186,906
Investment
-€45,160
Financing
-€140,001
Cash 2024
€1,491
From operations (derived)
+€186,906
Net result for the year
+€206,302
Depreciation
+€86,582
Receivables within one year
-€200,905
Deferred charges and accrued income
+€980
Provisions
-€3,386
Trade debts
+€1,300
Tax, wage and social debts
-€1,394
Other debts
+€97,428
Investment (derived)
-€45,160
Investment in fixed assets (net)
-€45,160
Financing
-€140,001
Contributions, distributions and other
-€140,001
Cash 2025
€3,237
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,628,085 | €1,788,334 | +€160,249 | +9.8% |
| Fixed assets | 21/28 | €1,324,177 | €1,282,755 | -€41,422 | -3.1% |
| Tangible fixed assets | 22/27 | €1,324,177 | €1,282,755 | -€41,422 | -3.1% |
| Land and buildings | 22 | €1,275,909 | €1,246,356 | -€29,553 | -2.3% |
| Plant, machinery and equipment | 23 | €47,717 | €32,580 | -€15,137 | -31.7% |
| Furniture and vehicles | 24 | €551 | €3,819 | +€3,268 | +593% |
| Current assets | 29/58 | €303,908 | €505,578 | +€201,670 | +66.4% |
| Amounts receivable within one year | 40/41 | €301,437 | €502,342 | +€200,905 | +66.6% |
| Trade receivables | 40 | €104,579 | €207,547 | +€102,968 | +98.5% |
| Other amounts receivable | 41 | €196,858 | €294,794 | +€97,936 | +49.7% |
| Cash at bank and in hand | 54/58 | €1,491 | €3,237 | +€1,746 | +117% |
| Deferred charges and accrued income | 490/1 | €980 | - | -€980 | |
| Total equity and liabilities | 10/49 | €1,628,085 | €1,788,334 | +€160,249 | +9.8% |
| Equity | 10/15 | €1,289,433 | €1,355,734 | +€66,301 | +5.1% |
| Contributions | 10/11 | €252,500 | €252,500 | = | 0.0% |
| Contributions outside capital | 11 | €252,500 | - | -€252,500 | |
| Other | 1109/19 | €252,500 | - | -€252,500 | |
| Reserves | 13 | €355,370 | €347,101 | -€8,269 | -2.3% |
| Non-distributable reserves | 130/1 | €28,968 | €28,968 | +€0 | 0.0% |
| Reserves not available under the articles | 1311 | €25,250 | €25,250 | = | 0.0% |
| Other | 1319 | €3,718 | €3,718 | +€0 | 0.0% |
| Tax-exempt reserves | 132 | €316,802 | €308,532 | -€8,270 | -2.6% |
| Distributable reserves | 133 | €9,600 | €9,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €681,563 | €756,134 | +€74,571 | +10.9% |
| Provisions and deferred taxes | 16 | €92,967 | €89,581 | -€3,386 | -3.6% |
| Deferred taxes | 168 | €92,967 | €89,581 | -€3,386 | -3.6% |
| Amounts payable | 17/49 | €245,685 | €343,018 | +€97,333 | +39.6% |
| Amounts payable within one year | 42/48 | €245,685 | €343,018 | +€97,333 | +39.6% |
| Trade debts | 44 | €1,888 | €3,188 | +€1,300 | +68.8% |
| Suppliers | 440/4 | €1,888 | €3,188 | +€1,300 | +68.8% |
| Taxes, remuneration and social security | 45 | €28,834 | €27,440 | -€1,394 | -4.8% |
| Taxes | 450/3 | €28,834 | €27,440 | -€1,394 | -4.8% |
| Other amounts payable | 47/48 | €214,963 | €312,391 | +€97,428 | +45.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,336 | €86,582 | -€2,754 | -3.1% |
| Other operating charges | 640/8 | €29,491 | €26,874 | -€2,617 | -8.9% |
| Gross operating margin | 9900 | €266,804 | €335,442 | +€68,638 | +25.7% |
| Operating profit (loss) | 9901 | €147,977 | €221,987 | +€74,010 | +50.0% |
| Financial charges | 65/66B | €605 | €2,485 | +€1,880 | +311% |
| Recurring financial charges | 65 | €605 | €2,485 | +€1,880 | +311% |
| Profit (loss) for the period before taxes | 9903 | €147,372 | €219,501 | +€72,129 | +48.9% |
| Transfer from deferred taxes | 780 | €3,386 | €3,386 | -€0 | 0.0% |
| Income taxes | 67/77 | €8,875 | €16,586 | +€7,711 | +86.9% |
| Profit (loss) for the period | 9904 | €141,883 | €206,302 | +€64,419 | +45.4% |
| Transfer from tax-exempt reserves | 789 | €8,289 | €8,269 | -€20 | -0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €150,172 | €214,571 | +€64,399 | +42.9% |
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 30 October 2026 via checked.be.