DBV Projects: 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.
DBV Projects
Largest movements
- Receivables within one year +€53,697
up €53,697 (+213.2%), from €25,182 to €78,878
of which Trade receivables: +€47,769
- Cash +€49,672
up €49,672 (+74.2%), from €66,946 to €116,618
mainly Net result for the year (+€68,981) and Other debts (+€52,557)
- Deferred charges and accrued income +€9,423
up €9,423 (+99.9%), from €9,432 to €18,856
- Intangible fixed assets -€5,000
down €5,000 (-33.3%), from €15,000 to €10,000
- Tangible fixed assets -€4,890
down €4,890 (-41.5%), from €11,783 to €6,892
of which Plant, machinery and equipment: -€4,585
- Other debts +€52,557
up €52,557 (+6957.2%), from €755 to €53,312
- Current portion of long-term debt -€24,800
down €24,800 (-84.5%), from €29,334 to €4,534
- Accrued charges and deferred income +€22,861
up €22,861 (+67.9%), from €33,648 to €56,509
- Tax, wage and social debts +€19,369
up €19,369 (+69.8%), from €27,749 to €47,118
of which Taxes: +€20,933
- Reserves +€18,981
up €18,981 (+119.0%), from €15,957 to €34,938
- Staff costs -€13,993
down €13,993 (-4.4%), from €315,630 to €301,636
- Gross operating margin -€6,730
down €6,730 (-1.7%), from €396,276 to €389,546
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 | €153,212 | €258,005 | +€104,793 | +68.4% |
| Fixed assets | 21/28 | €38,408 | €28,517 | -€9,890 | -25.8% |
| Intangible fixed assets | 21 | €15,000 | €10,000 | -€5,000 | -33.3% |
| Tangible fixed assets | 22/27 | €11,783 | €6,892 | -€4,890 | -41.5% |
| Plant, machinery and equipment | 23 | €11,477 | €6,892 | -€4,585 | -39.9% |
| Furniture and vehicles | 24 | €305 | - | -€305 | |
| Financial fixed assets | 28 | €11,625 | €11,625 | = | 0.0% |
| Current assets | 29/58 | €114,804 | €229,487 | +€114,683 | +99.9% |
| Stocks and contracts in progress | 3 | €13,244 | €15,135 | +€1,891 | +14.3% |
| Stocks | 30/36 | €13,244 | €15,135 | +€1,891 | +14.3% |
| Amounts receivable within one year | 40/41 | €25,182 | €78,878 | +€53,697 | +213.2% |
| Trade receivables | 40 | €6,029 | €53,798 | +€47,769 | +792.3% |
| Other amounts receivable | 41 | €19,152 | €25,080 | +€5,928 | +31.0% |
| Cash at bank and in hand | 54/58 | €66,946 | €116,618 | +€49,672 | +74.2% |
| Deferred charges and accrued income | 490/1 | €9,432 | €18,856 | +€9,423 | +99.9% |
| Total equity and liabilities | 10/49 | €153,212 | €258,005 | +€104,793 | +68.4% |
| Equity | 10/15 | €34,557 | €53,538 | +€18,981 | +54.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €15,957 | €34,938 | +€18,981 | +119.0% |
| Distributable reserves | 133 | €15,957 | €34,938 | +€18,981 | +119.0% |
| Amounts payable | 17/49 | €118,655 | €204,466 | +€85,811 | +72.3% |
| Amounts payable after more than one year | 17 | €4,534 | - | -€4,534 | |
| Financial debts | 170/4 | €4,534 | - | -€4,534 | |
| Amounts payable within one year | 42/48 | €80,473 | €147,957 | +€67,485 | +83.9% |
| Current portion of amounts payable after more than one year | 42 | €29,334 | €4,534 | -€24,800 | -84.5% |
| Trade debts | 44 | €13,614 | €23,745 | +€10,131 | +74.4% |
| Suppliers | 440/4 | €13,614 | €23,745 | +€10,131 | +74.4% |
| Advances received on contracts in progress | 46 | €9,020 | €19,248 | +€10,228 | +113.4% |
| Taxes, remuneration and social security | 45 | €27,749 | €47,118 | +€19,369 | +69.8% |
| Taxes | 450/3 | €1,596 | €22,528 | +€20,933 | +1311.8% |
| Remuneration and social security | 454/9 | €26,154 | €24,589 | -€1,564 | -6.0% |
| Other amounts payable | 47/48 | €755 | €53,312 | +€52,557 | +6957.2% |
| Accrued charges and deferred income | 492/3 | €33,648 | €56,509 | +€22,861 | +67.9% |
| Remuneration, social security and pensions | 62 | €315,630 | €301,636 | -€13,993 | -4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,730 | €9,890 | -€2,840 | -22.3% |
| Other operating charges | 640/8 | €4,950 | €4,706 | -€244 | -4.9% |
| Gross operating margin | 9900 | €396,276 | €389,546 | -€6,730 | -1.7% |
| Operating profit (loss) | 9901 | €62,965 | €73,313 | +€10,348 | +16.4% |
| Financial income | 75/76B | €982 | €0 | -€982 | -100.0% |
| Recurring financial income | 75 | €982 | €0 | -€982 | -100.0% |
| Financial charges | 65/66B | €2,248 | €1,716 | -€531 | -23.6% |
| Recurring financial charges | 65 | €2,248 | €1,716 | -€531 | -23.6% |
| Profit (loss) for the period before taxes | 9903 | €61,700 | €71,597 | +€9,897 | +16.0% |
| Income taxes | 67/77 | €1,596 | €2,616 | +€1,020 | +63.9% |
| Profit (loss) for the period | 9904 | €60,104 | €68,981 | +€8,877 | +14.8% |
| Profit (loss) for the period to be appropriated | 9905 | €60,104 | €68,981 | +€8,877 | +14.8% |
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.