DC VALVES: 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.
DC VALVES
Largest movements
- Cash +€92,068
up €92,068 (+92.2%), from €99,870 to €191,938
mainly Net result for the year (+€230,144) and Depreciation (+€87,446)
- Tangible fixed assets +€81,723
up €81,723 (+10.4%), from €783,901 to €865,624
of which Leasing and similar rights: +€119,558
- Receivables within one year +€29,159
up €29,159 (+15.4%), from €189,897 to €219,056
of which Trade receivables: +€51,816
- Profit (loss) carried forward +€86,469
up €86,469 (+167%), from €51,776 to €138,245
- Reserves +€73,675
new in 2025: €73,675
- Trade debts -€57,602
down €57,602 (-50.6%), from €113,728 to €56,126
- Debts after one year +€49,953
up €49,953 (+6.2%), from €801,455 to €851,408
of which Financial debts: +€63,767
- Tax, wage and social debts +€43,591
up €43,591 (+74.5%), from €58,522 to €102,112
of which Taxes: +€23,185
- Turnover -€1.2m
no longer reported in 2025 (was €1.2m)
- Purchases and services -€1.0m
no longer reported in 2025 (was €1.0m)
- Gross operating margin +€461,316
up €461,316 (+198%), from €233,100 to €694,416
- Financial charges +€117,174
up €117,174 (+1,102%), from €10,637 to €127,811
of which Financial charges: +€122,257
- Taxes +€64,916
up €64,916 (+634%), from €10,242 to €75,158
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 | €1,149,504 | €1,374,748 | +€225,244 | +19.6% |
| Fixed assets | 21/28 | €787,951 | €869,674 | +€81,723 | +10.4% |
| Tangible fixed assets | 22/27 | €783,901 | €865,624 | +€81,723 | +10.4% |
| Land and buildings | 22 | €698,881 | €667,381 | -€31,500 | -4.5% |
| Plant, machinery and equipment | 23 | €71,624 | €66,281 | -€5,344 | -7.5% |
| Furniture and vehicles | 24 | €3,191 | €2,200 | -€991 | -31.1% |
| Leasing and similar rights | 25 | €10,205 | €129,762 | +€119,558 | +1,172% |
| Financial fixed assets | 28 | €4,050 | €4,050 | = | 0.0% |
| Current assets | 29/58 | €361,553 | €505,074 | +€143,521 | +39.7% |
| Stocks and contracts in progress | 3 | €59,981 | €71,651 | +€11,670 | +19.5% |
| Stocks | 30/36 | €59,981 | €71,651 | +€11,670 | +19.5% |
| Amounts receivable within one year | 40/41 | €189,897 | €219,056 | +€29,159 | +15.4% |
| Trade receivables | 40 | €126,324 | €178,140 | +€51,816 | +41.0% |
| Other amounts receivable | 41 | €63,573 | €40,916 | -€22,657 | -35.6% |
| Current investments | 50/53 | €500 | €500 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €99,870 | €191,938 | +€92,068 | +92.2% |
| Deferred charges and accrued income | 490/1 | €11,305 | €21,929 | +€10,624 | +94.0% |
| Total equity and liabilities | 10/49 | €1,149,504 | €1,374,748 | +€225,244 | +19.6% |
| Equity | 10/15 | €61,812 | €221,052 | +€159,240 | +258% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | - | €73,675 | +€73,675 | |
| Tax-exempt reserves | 132 | - | €73,675 | +€73,675 | |
| Profit (loss) carried forward | 14 | €51,776 | €138,245 | +€86,469 | +167% |
| Investment grants | 15 | €2,036 | €1,132 | -€904 | -44.4% |
| Amounts payable | 17/49 | €1,087,692 | €1,153,696 | +€66,004 | +6.1% |
| Amounts payable after more than one year | 17 | €801,455 | €851,408 | +€49,953 | +6.2% |
| Financial debts | 170/4 | €776,381 | €840,148 | +€63,767 | +8.2% |
| Other amounts payable | 178/9 | €25,074 | €11,260 | -€13,813 | -55.1% |
| Amounts payable within one year | 42/48 | €275,461 | €300,100 | +€24,639 | +8.9% |
| Current portion of amounts payable after more than one year | 42 | €43,711 | €64,922 | +€21,211 | +48.5% |
| Trade debts | 44 | €113,728 | €56,126 | -€57,602 | -50.6% |
| Suppliers | 440/4 | €113,728 | €56,126 | -€57,602 | -50.6% |
| Taxes, remuneration and social security | 45 | €58,522 | €102,112 | +€43,591 | +74.5% |
| Taxes | 450/3 | €45,732 | €68,917 | +€23,185 | +50.7% |
| Remuneration and social security | 454/9 | €12,790 | €33,196 | +€20,406 | +160% |
| Other amounts payable | 47/48 | €59,500 | €76,939 | +€17,439 | +29.3% |
| Accrued charges and deferred income | 492/3 | €10,776 | €2,189 | -€8,587 | -79.7% |
| Turnover | 70 | €1,234,965 | - | -€1.2m | |
| Goods, raw materials, services and sundry goods | 60/61 | €1,043,789 | - | -€1.0m | |
| Remuneration, social security and pensions | 62 | €128,797 | €159,615 | +€30,818 | +23.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,379 | €87,446 | +€52,066 | +147% |
| Other operating charges | 640/8 | €1,869 | €19,782 | +€17,912 | +958% |
| Non-recurring operating charges | 66A | €9,125 | - | -€9,125 | |
| Gross operating margin | 9900 | €233,100 | €694,416 | +€461,316 | +198% |
| Operating profit (loss) | 9901 | €57,931 | €427,574 | +€369,643 | +638% |
| Financial income | 75/76B | €3,822 | €5,540 | +€1,718 | +44.9% |
| Recurring financial income | 75 | €3,822 | €1,073 | -€2,749 | -71.9% |
| Non-recurring financial income | 76B | - | €4,467 | +€4,467 | |
| Financial charges | 65/66B | €10,637 | €127,811 | +€117,174 | +1,102% |
| Recurring financial charges | 65 | €5,555 | €127,811 | +€122,257 | +2,201% |
| Non-recurring financial charges | 66B | €5,082 | - | -€5,082 | |
| Profit (loss) for the period before taxes | 9903 | €51,116 | €305,303 | +€254,186 | +497% |
| Income taxes | 67/77 | €10,242 | €75,158 | +€64,916 | +634% |
| Profit (loss) for the period | 9904 | €40,874 | €230,144 | +€189,270 | +463% |
| Transfer to tax-exempt reserves | 689 | - | €73,675 | +€73,675 | |
| Profit (loss) for the period to be appropriated | 9905 | €40,874 | €156,469 | +€115,595 | +283% |
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 17 October 2026 via checked.be.