DB DEVELOPPEMENT: 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
DB DEVELOPPEMENT
NACE 64.910, Financial service activities, except insurance and pension funding
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€715,534
2024 · €1.1m-€379,265
Equity
€34.3m
2024 · €33.6m+€715,534
Cash
€1.0m
2024 · €1.4m-€434,084
Balance sheet total
€39.6m
2024 · €40.3m-€675,786
Largest movements
Assets
- Receivables within one year -€1.1m
down €1.1m (-33.5%), from €3.2m to €2.1m
of which Other amounts receivable: -€1.3m
- Stocks and contracts -€946,084
down €946,084 (-21.4%), from €4.4m to €3.5m
- Financial fixed assets +€943,766
up €943,766 (+6.5%), from €14.4m to €15.4m
- Current investments +€462,699
up €462,699 (+33.4%), from €1.4m to €1.8m
- Cash -€434,084
down €434,084 (-30.2%), from €1.4m to €1.0m
mainly Investment in fixed assets (net) (-€2.1m) and Trade debts (-€935,302)
Equity and liabilities
- Trade debts -€935,302
down €935,302 (-71.6%), from €1.3m to €370,725
- Reserves +€715,309
up €715,309 (+2.4%), from €29.4m to €30.1m
of which Distributable reserves: +€850,000
- Debts after one year -€545,463
down €545,463 (-14.5%), from €3.8m to €3.2m
Income statement
- Gross operating margin -€225,235
down €225,235 (-10.6%), from €2.1m to €1.9m
- Staff costs +€120,878
up €120,878 (+48.8%), from €247,816 to €368,694
- Taxes -€80,597
down €80,597 (-94.1%), from €85,657 to €5,060
- Financial income -€61,731
down €61,731 (-22.8%), from €270,854 to €209,123
- Depreciation +€49,763
up €49,763 (+6.5%), from €760,386 to €810,149
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
€1.1m
Gross operating margin
-€225,235
Staff costs
-€120,878
Depreciation
-€49,763
Provisions
+€21,000
Other operating charges
-€11,421
Financial income
-€61,731
Financial charges
-€18,311
Taxes
+€80,597
Deferred taxes and other
+€6,478
Result 2025
€715,534
raises the resultlowers the resultnot broken down further in the accounts
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
+€2.4m
Investment
-€2.6m
Financing
-€269,921
Cash 2024
€1.4m
From operations (derived)
+€2.4m
Net result for the year
+€715,534
Depreciation
+€810,149
Stocks and contracts
+€946,084
Receivables within one year
+€1.1m
Deferred charges and accrued income
+€16,708
Provisions
-€38,573
Trade debts
-€935,302
Tax, wage and social debts
-€52,469
Other debts
-€97,226
Accrued charges and deferred income
+€2,171
Investment (derived)
-€2.6m
Investment in fixed assets (net)
-€2.1m
Current investments
-€462,699
Financing
-€269,921
Debts after one year
-€545,463
Current portion of long-term debt
-€124,459
Short-term financial debts
+€400,000
Cash 2025
€1.0m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €40,322,841 | €39,647,055 | -€675,786 | -1.7% |
| Fixed assets | 21/28 | €29,769,406 | €31,103,296 | +€1.3m | +4.5% |
| Intangible fixed assets | 21 | €22,954 | €12,806 | -€10,148 | -44.2% |
| Tangible fixed assets | 22/27 | €15,309,176 | €15,709,448 | +€400,273 | +2.6% |
| Land and buildings | 22 | €13,326,290 | €14,334,203 | +€1.0m | +7.6% |
| Plant, machinery and equipment | 23 | €220,853 | €204,236 | -€16,618 | -7.5% |
| Furniture and vehicles | 24 | €572,961 | €674,787 | +€101,826 | +17.8% |
| Leasing and similar rights | 25 | €700,389 | €426,669 | -€273,720 | -39.1% |
| Assets under construction and advance payments | 27 | €488,683 | €69,553 | -€419,130 | -85.8% |
| Financial fixed assets | 28 | €14,437,276 | €15,381,042 | +€943,766 | +6.5% |
| Current assets | 29/58 | €10,553,435 | €8,543,759 | -€2.0m | -19.0% |
| Stocks and contracts in progress | 3 | €4,419,041 | €3,472,958 | -€946,084 | -21.4% |
| Stocks | 30/36 | €4,419,041 | €3,472,958 | -€946,084 | -21.4% |
| Amounts receivable within one year | 40/41 | €3,211,537 | €2,136,038 | -€1.1m | -33.5% |
| Trade receivables | 40 | €527,139 | €729,720 | +€202,581 | +38.4% |
| Other amounts receivable | 41 | €2,684,399 | €1,406,318 | -€1.3m | -47.6% |
| Current investments | 50/53 | €1,383,787 | €1,846,485 | +€462,699 | +33.4% |
| Cash at bank and in hand | 54/58 | €1,436,845 | €1,002,761 | -€434,084 | -30.2% |
| Deferred charges and accrued income | 490/1 | €102,225 | €85,517 | -€16,708 | -16.3% |
| Total equity and liabilities | 10/49 | €40,322,841 | €39,647,055 | -€675,786 | -1.7% |
| Equity | 10/15 | €33,570,106 | €34,285,640 | +€715,534 | +2.1% |
| Contributions | 10/11 | €4,168,665 | €4,168,665 | = | 0.0% |
| Capital | 10 | €4,168,665 | €4,168,665 | = | 0.0% |
| Issued capital | 100 | €4,168,665 | €4,168,665 | = | 0.0% |
| Reserves | 13 | €29,396,388 | €30,111,697 | +€715,309 | +2.4% |
| Non-distributable reserves | 130/1 | €416,867 | €416,867 | = | 0.0% |
| Legal reserve | 130 | €416,867 | €416,867 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,525,047 | €1,390,356 | -€134,691 | -8.8% |
| Distributable reserves | 133 | €27,454,475 | €28,304,475 | +€850,000 | +3.1% |
| Profit (loss) carried forward | 14 | €5,053 | €5,277 | +€225 | +4.5% |
| Provisions and deferred taxes | 16 | €593,852 | €555,279 | -€38,573 | -6.5% |
| Provisions for liabilities and charges | 160/5 | €159,405 | €161,994 | +€2,589 | +1.6% |
| Environmental obligations | 163 | €159,405 | €161,994 | +€2,589 | +1.6% |
| Deferred taxes | 168 | €434,447 | €393,285 | -€41,162 | -9.5% |
| Amounts payable | 17/49 | €6,158,883 | €4,806,136 | -€1.4m | -22.0% |
| Amounts payable after more than one year | 17 | €3,769,983 | €3,224,520 | -€545,463 | -14.5% |
| Financial debts | 170/4 | €3,769,983 | €3,224,520 | -€545,463 | -14.5% |
| Amounts payable within one year | 42/48 | €2,377,407 | €1,567,951 | -€809,456 | -34.0% |
| Current portion of amounts payable after more than one year | 42 | €669,922 | €545,464 | -€124,459 | -18.6% |
| Financial debts | 43 | - | €400,000 | +€400,000 | |
| Credit institutions | 430/8 | - | €400,000 | +€400,000 | |
| Trade debts | 44 | €1,306,027 | €370,725 | -€935,302 | -71.6% |
| Suppliers | 440/4 | €1,306,027 | €370,725 | -€935,302 | -71.6% |
| Taxes, remuneration and social security | 45 | €304,232 | €251,762 | -€52,469 | -17.2% |
| Taxes | 450/3 | €261,548 | €203,765 | -€57,783 | -22.1% |
| Remuneration and social security | 454/9 | €42,683 | €47,997 | +€5,314 | +12.4% |
| Other amounts payable | 47/48 | €97,226 | - | -€97,226 | |
| Accrued charges and deferred income | 492/3 | €11,494 | €13,665 | +€2,171 | +18.9% |
| Non-recurring operating income | 76A | - | €602,141 | +€602,141 | |
| Remuneration, social security and pensions | 62 | €247,816 | €368,694 | +€120,878 | +48.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €760,386 | €810,149 | +€49,763 | +6.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €33,700 | €12,700 | -€21,000 | -62.3% |
| Other operating charges | 640/8 | €47,339 | €58,761 | +€11,421 | +24.1% |
| Gross operating margin | 9900 | €2,119,527 | €1,894,293 | -€225,235 | -10.6% |
| Operating profit (loss) | 9901 | €1,030,286 | €643,989 | -€386,297 | -37.5% |
| Financial income | 75/76B | €270,854 | €209,123 | -€61,731 | -22.8% |
| Recurring financial income | 75 | €270,854 | €209,123 | -€61,731 | -22.8% |
| Financial charges | 65/66B | €155,369 | €173,680 | +€18,311 | +11.8% |
| Recurring financial charges | 65 | €155,369 | €173,680 | +€18,311 | +11.8% |
| Profit (loss) for the period before taxes | 9903 | €1,145,772 | €679,432 | -€466,340 | -40.7% |
| Transfer from deferred taxes | 780 | €34,683 | €41,162 | +€6,478 | +18.7% |
| Income taxes | 67/77 | €85,657 | €5,060 | -€80,597 | -94.1% |
| Profit (loss) for the period | 9904 | €1,094,799 | €715,534 | -€379,265 | -34.6% |
| Transfer from tax-exempt reserves | 789 | €92,845 | €134,691 | +€41,846 | +45.1% |
| Transfer to tax-exempt reserves | 689 | €210,500 | - | -€210,500 | |
| Profit (loss) for the period to be appropriated | 9905 | €977,143 | €850,225 | -€126,918 | -13.0% |
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 25 October 2026 via checked.be.