D.V.R.: 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.R.
Largest movements
- Tangible fixed assets +€798,562
up €798,562 (+140.9%), from €566,606 to €1.4m
of which Land and buildings: +€782,575
- Cash -€259,199
down €259,199 (-93.1%), from €278,389 to €19,190
mainly Investment in fixed assets (net) (-€859,459) and Contributions, distributions and other (-€104,945)
- Current investments -€249,201
down €249,201 (-99.6%), from €250,105 to €904
- Receivables within one year -€34,638
down €34,638 (-50.2%), from €69,011 to €34,373
of which Other amounts receivable: -€37,003
- Debts after one year +€338,388
up €338,388 (+573.5%), from €59,000 to €397,388
- Reserves -€63,832
down €63,832 (-6.1%), from €1.0m to €976,374
of which Distributable reserves: -€61,832
- Tax, wage and social debts -€18,182
down €18,182 (-64.7%), from €28,108 to €9,926
- Gross operating margin -€292,626
down €292,626 (-70.4%), from €415,813 to €123,187
- Taxes -€102,685
down €102,685 (-89.2%), from €115,134 to €12,450
- Financial income +€16,815
up €16,815 (+239.4%), from €7,023 to €23,837
- Depreciation +€15,363
up €15,363 (+33.7%), from €45,533 to €60,896
- Financial charges +€10,318
up €10,318 (+160.0%), from €6,449 to €16,767
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 | €1,273,610 | €1,529,279 | +€255,669 | +20.1% |
| Fixed assets | 21/28 | €567,895 | €1,366,458 | +€798,562 | +140.6% |
| Tangible fixed assets | 22/27 | €566,606 | €1,365,169 | +€798,562 | +140.9% |
| Land and buildings | 22 | €547,661 | €1,330,237 | +€782,575 | +142.9% |
| Plant, machinery and equipment | 23 | €1,293 | €2,760 | +€1,467 | +113.4% |
| Furniture and vehicles | 24 | €17,652 | €32,172 | +€14,520 | +82.3% |
| Financial fixed assets | 28 | €1,289 | €1,289 | = | 0.0% |
| Current assets | 29/58 | €705,714 | €162,821 | -€542,893 | -76.9% |
| Amounts receivable after more than one year | 29 | €103,560 | €103,560 | = | 0.0% |
| Other amounts receivable | 291 | €103,560 | €103,560 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €69,011 | €34,373 | -€34,638 | -50.2% |
| Trade receivables | 40 | €5,241 | €7,605 | +€2,364 | +45.1% |
| Other amounts receivable | 41 | €63,770 | €26,768 | -€37,003 | -58.0% |
| Current investments | 50/53 | €250,105 | €904 | -€249,201 | -99.6% |
| Cash at bank and in hand | 54/58 | €278,389 | €19,190 | -€259,199 | -93.1% |
| Deferred charges and accrued income | 490/1 | €4,650 | €4,795 | +€146 | +3.1% |
| Total equity and liabilities | 10/49 | €1,273,610 | €1,529,279 | +€255,669 | +20.1% |
| Equity | 10/15 | €1,048,206 | €984,374 | -€63,832 | -6.1% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €1,040,206 | €976,374 | -€63,832 | -6.1% |
| Non-distributable reserves | 130/1 | €2,000 | €0 | -€2,000 | -100.0% |
| Reserves not available under the articles | 1311 | €2,000 | €0 | -€2,000 | -100.0% |
| Distributable reserves | 133 | €1,038,206 | €976,374 | -€61,832 | -6.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €225,404 | €544,905 | +€319,501 | +141.7% |
| Amounts payable after more than one year | 17 | €59,000 | €397,388 | +€338,388 | +573.5% |
| Other amounts payable | 178/9 | €59,000 | €397,388 | +€338,388 | +573.5% |
| Amounts payable within one year | 42/48 | €145,074 | €128,630 | -€16,444 | -11.3% |
| Trade debts | 44 | €10,707 | €5,470 | -€5,237 | -48.9% |
| Suppliers | 440/4 | €10,707 | €5,470 | -€5,237 | -48.9% |
| Taxes, remuneration and social security | 45 | €28,108 | €9,926 | -€18,182 | -64.7% |
| Taxes | 450/3 | €28,108 | €9,926 | -€18,182 | -64.7% |
| Other amounts payable | 47/48 | €106,259 | €113,234 | +€6,975 | +6.6% |
| Accrued charges and deferred income | 492/3 | €21,330 | €18,887 | -€2,443 | -11.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,533 | €60,896 | +€15,363 | +33.7% |
| Other operating charges | 640/8 | €14,345 | €15,799 | +€1,454 | +10.1% |
| Gross operating margin | 9900 | €415,813 | €123,187 | -€292,626 | -70.4% |
| Operating profit (loss) | 9901 | €355,935 | €46,493 | -€309,442 | -86.9% |
| Financial income | 75/76B | €7,023 | €23,837 | +€16,815 | +239.4% |
| Recurring financial income | 75 | €7,023 | €23,837 | +€16,815 | +239.4% |
| Financial charges | 65/66B | €6,449 | €16,767 | +€10,318 | +160.0% |
| Recurring financial charges | 65 | €6,449 | €16,767 | +€10,318 | +160.0% |
| Profit (loss) for the period before taxes | 9903 | €356,509 | €53,563 | -€302,946 | -85.0% |
| Income taxes | 67/77 | €115,134 | €12,450 | -€102,685 | -89.2% |
| Profit (loss) for the period | 9904 | €241,375 | €41,113 | -€200,261 | -83.0% |
| Profit (loss) for the period to be appropriated | 9905 | €241,375 | €41,113 | -€200,261 | -83.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.