D.V.S. ELECT: 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.S. ELECT
Largest movements
- Cash +€84,028
up €84,028 (+733873.0%), from €11 to €84,040
mainly Net result for the year (+€116,761) and Investment in fixed assets (net) (+€68,630)
- Tangible fixed assets -€72,397
down €72,397 (-85.8%), from €84,332 to €11,936
of which Land and buildings: -€68,630
- Receivables within one year +€6,904
new in 2025: €6,904
of which Trade receivables: +€5,164
- Other debts -€101,376
down €101,376 (-86.8%), from €116,838 to €15,462
- Profit (loss) carried forward +€67,821
no longer reported in 2025 (was -€67,821)
- Reserves +€48,940
up €48,940 (+465.1%), from €10,523 to €59,463
of which Distributable reserves: +€48,940
- Tax, wage and social debts +€7,494
up €7,494 (+1228.3%), from €610 to €8,104
- Current portion of long-term debt -€4,218
no longer reported in 2025 (was €4,218)
- Financial income +€161,395
up €161,395 (+9549971.6%), from €2 to €161,396
of which Non-recurring financial income: +€161,370
- Taxes +€33,098
new in 2025: €33,098
- Gross operating margin -€8,492
down €8,492, from €2,176 to -€6,317
- Depreciation -€488
down €488 (-11.5%), from €4,255 to €3,767
- Other operating charges -€460
down €460 (-30.3%), from €1,519 to €1,059
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 | €87,033 | €105,796 | +€18,763 | +21.6% |
| Fixed assets | 21/28 | €86,134 | €13,737 | -€72,397 | -84.1% |
| Tangible fixed assets | 22/27 | €84,332 | €11,936 | -€72,397 | -85.8% |
| Land and buildings | 22 | €80,565 | €11,936 | -€68,630 | -85.2% |
| Furniture and vehicles | 24 | €3,767 | - | -€3,767 | |
| Financial fixed assets | 28 | €1,802 | €1,802 | = | 0.0% |
| Current assets | 29/58 | €899 | €92,059 | +€91,159 | +10137.2% |
| Stocks and contracts in progress | 3 | €888 | €1,115 | +€227 | +25.5% |
| Stocks | 30/36 | €888 | €1,115 | +€227 | +25.5% |
| Amounts receivable within one year | 40/41 | - | €6,904 | +€6,904 | |
| Trade receivables | 40 | - | €5,164 | +€5,164 | |
| Other amounts receivable | 41 | - | €1,741 | +€1,741 | |
| Cash at bank and in hand | 54/58 | €11 | €84,040 | +€84,028 | +733873.0% |
| Total equity and liabilities | 10/49 | €87,033 | €105,796 | +€18,763 | +21.6% |
| Equity | 10/15 | -€38,706 | €78,055 | +€116,761 | |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €10,523 | €59,463 | +€48,940 | +465.1% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,664 | €8,664 | = | 0.0% |
| Distributable reserves | 133 | - | €48,940 | +€48,940 | |
| Profit (loss) carried forward | 14 | -€67,821 | - | +€67,821 | |
| Amounts payable | 17/49 | €125,739 | €27,741 | -€97,998 | -77.9% |
| Amounts payable within one year | 42/48 | €125,739 | €27,741 | -€97,998 | -77.9% |
| Current portion of amounts payable after more than one year | 42 | €4,218 | - | -€4,218 | |
| Financial debts | 43 | €1,068 | - | -€1,068 | |
| Credit institutions | 430/8 | €1,068 | - | -€1,068 | |
| Trade debts | 44 | €2,895 | €4,175 | +€1,279 | +44.2% |
| Suppliers | 440/4 | €2,895 | €4,175 | +€1,279 | +44.2% |
| Advances received on contracts in progress | 46 | €109 | - | -€109 | |
| Taxes, remuneration and social security | 45 | €610 | €8,104 | +€7,494 | +1228.3% |
| Taxes | 450/3 | €610 | €8,104 | +€7,494 | +1228.3% |
| Other amounts payable | 47/48 | €116,838 | €15,462 | -€101,376 | -86.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,255 | €3,767 | -€488 | -11.5% |
| Other operating charges | 640/8 | €1,519 | €1,059 | -€460 | -30.3% |
| Gross operating margin | 9900 | €2,176 | -€6,317 | -€8,492 | |
| Operating profit (loss) | 9901 | -€3,598 | -€11,142 | -€7,544 | -209.7% |
| Financial income | 75/76B | €2 | €161,396 | +€161,395 | +9549971.6% |
| Recurring financial income | 75 | €2 | €26 | +€24 | +1438.5% |
| Non-recurring financial income | 76B | - | €161,370 | +€161,370 | |
| Financial charges | 65/66B | €579 | €395 | -€184 | -31.8% |
| Recurring financial charges | 65 | €579 | €395 | -€184 | -31.8% |
| Profit (loss) for the period before taxes | 9903 | -€4,176 | €149,859 | +€154,035 | |
| Income taxes | 67/77 | - | €33,098 | +€33,098 | |
| Profit (loss) for the period | 9904 | -€4,176 | €116,761 | +€120,936 | |
| Profit (loss) for the period to be appropriated | 9905 | -€4,176 | €116,761 | +€120,936 |
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 10 October 2026 via checked.be.