D.V.T.U.: 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.T.U.
Largest movements
- Cash -€15,569
down €15,569 (-60.7%), from €25,663 to €10,095
mainly Other debts (-€52,953) and Debts after one year (-€16,163)
- Intangible fixed assets -€9,750
down €9,750 (-27.0%), from €36,148 to €26,398
- Tangible fixed assets -€9,654
down €9,654 (-10.4%), from €92,859 to €83,205
of which Other tangible fixed assets: -€5,430
- Receivables within one year -€8,007
down €8,007 (-65.5%), from €12,222 to €4,215
of which Other amounts receivable: -€9,487
- Stocks and contracts -€5,418
down €5,418 (-4.5%), from €120,271 to €114,854
- Other debts -€52,953
down €52,953 (-82.4%), from €64,281 to €11,328
- Short-term financial debts +€19,573
new in 2025: €19,573
- Debts after one year -€16,163
down €16,163 (-38.1%), from €42,442 to €26,279
- Tax, wage and social debts -€14,945
down €14,945 (-49.8%), from €29,989 to €15,043
of which Remuneration and social security: -€12,514
- Profit (loss) carried forward +€11,619
up €11,619, from -€1,474 to €10,145
- Staff costs -€83,218
down €83,218 (-35.4%), from €234,950 to €151,732
- Gross operating margin -€61,028
down €61,028 (-23.0%), from €264,777 to €203,749
- Other operating charges -€3,305
down €3,305 (-86.0%), from €3,843 to €537
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 | €290,748 | €243,420 | -€47,328 | -16.3% |
| Fixed assets | 21/28 | €129,507 | €110,103 | -€19,404 | -15.0% |
| Intangible fixed assets | 21 | €36,148 | €26,398 | -€9,750 | -27.0% |
| Tangible fixed assets | 22/27 | €92,859 | €83,205 | -€9,654 | -10.4% |
| Plant, machinery and equipment | 23 | €42,860 | €38,948 | -€3,913 | -9.1% |
| Furniture and vehicles | 24 | €312 | - | -€312 | |
| Other tangible fixed assets | 26 | €49,687 | €44,258 | -€5,430 | -10.9% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €161,241 | €133,317 | -€27,924 | -17.3% |
| Stocks and contracts in progress | 3 | €120,271 | €114,854 | -€5,418 | -4.5% |
| Stocks | 30/36 | €120,271 | €114,854 | -€5,418 | -4.5% |
| Amounts receivable within one year | 40/41 | €12,222 | €4,215 | -€8,007 | -65.5% |
| Trade receivables | 40 | €2,736 | €4,215 | +€1,480 | +54.1% |
| Other amounts receivable | 41 | €9,487 | - | -€9,487 | |
| Cash at bank and in hand | 54/58 | €25,663 | €10,095 | -€15,569 | -60.7% |
| Deferred charges and accrued income | 490/1 | €3,084 | €4,153 | +€1,069 | +34.7% |
| Total equity and liabilities | 10/49 | €290,748 | €243,420 | -€47,328 | -16.3% |
| Equity | 10/15 | €18,527 | €30,145 | +€11,619 | +62.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,474 | €10,145 | +€11,619 | |
| Amounts payable | 17/49 | €272,222 | €213,275 | -€58,947 | -21.7% |
| Amounts payable after more than one year | 17 | €42,442 | €26,279 | -€16,163 | -38.1% |
| Financial debts | 170/4 | €42,442 | €26,279 | -€16,163 | -38.1% |
| Amounts payable within one year | 42/48 | €225,954 | €174,655 | -€51,299 | -22.7% |
| Current portion of amounts payable after more than one year | 42 | €25,080 | €16,163 | -€8,916 | -35.6% |
| Financial debts | 43 | - | €19,573 | +€19,573 | |
| Credit institutions | 430/8 | - | €19,573 | +€19,573 | |
| Trade debts | 44 | €106,605 | €112,548 | +€5,943 | +5.6% |
| Suppliers | 440/4 | €106,605 | €112,548 | +€5,943 | +5.6% |
| Taxes, remuneration and social security | 45 | €29,989 | €15,043 | -€14,945 | -49.8% |
| Taxes | 450/3 | €5,502 | €3,070 | -€2,432 | -44.2% |
| Remuneration and social security | 454/9 | €24,487 | €11,973 | -€12,514 | -51.1% |
| Other amounts payable | 47/48 | €64,281 | €11,328 | -€52,953 | -82.4% |
| Accrued charges and deferred income | 492/3 | €3,825 | €12,342 | +€8,516 | +223% |
| Remuneration, social security and pensions | 62 | €234,950 | €151,732 | -€83,218 | -35.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,664 | €26,372 | +€708 | +2.8% |
| Other operating charges | 640/8 | €3,843 | €537 | -€3,305 | -86.0% |
| Gross operating margin | 9900 | €264,777 | €203,749 | -€61,028 | -23.0% |
| Operating profit (loss) | 9901 | €321 | €25,108 | +€24,787 | +7,720% |
| Financial income | 75/76B | - | €90 | +€90 | |
| Recurring financial income | 75 | - | €90 | +€90 | |
| Financial charges | 65/66B | €3,479 | €3,184 | -€295 | -8.5% |
| Recurring financial charges | 65 | €3,479 | €3,184 | -€295 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | -€3,158 | €22,014 | +€25,171 | |
| Income taxes | 67/77 | -€69 | €395 | +€465 | |
| Profit (loss) for the period | 9904 | -€3,088 | €21,619 | +€24,707 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,088 | €21,619 | +€24,707 |
Source: filed annual accounts (NBB), financial years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.