DCV PHARMA: 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.
DCV PHARMA
Largest movements
- Financial fixed assets -€2.1m
no longer reported in 2025 (was €2.1m)
- Cash +€898,254
up €898,254 (+2,578%), from €34,838 to €933,093
mainly Investment in fixed assets (net) (+€2.1m) and Depreciation (+€20,280)
- Receivables within one year +€315,104
new in 2025: €315,104
of which Other amounts receivable: +€301,338
- Debts after one year -€403,127
no longer reported in 2025 (was €403,127)
- Profit (loss) carried forward -€226,029
down €226,029 (-35.5%), from €635,942 to €409,912
- Other debts -€130,351
down €130,351 (-86.4%), from €150,871 to €20,520
- Current portion of long-term debt -€123,280
no longer reported in 2025 (was €123,280)
- Tax, wage and social debts -€40,967
down €40,967 (-92.2%), from €44,443 to €3,476
- Financial charges +€239,191
up €239,191 (+721%), from €33,160 to €272,351
- Gross operating margin -€123,466
down €123,466 (-63.6%), from €194,117 to €70,651
- Taxes -€37,560
down €37,560 (-91.1%), from €41,222 to €3,662
- Depreciation +€3,501
up €3,501 (+20.9%), from €16,778 to €20,280
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 | €2,256,302 | €1,339,617 | -€916,686 | -40.6% |
| Fixed assets | 21/28 | €2,221,464 | €86,419 | -€2.1m | -96.1% |
| Tangible fixed assets | 22/27 | €83,964 | €86,419 | +€2,456 | +2.9% |
| Land and buildings | 22 | €82,714 | €66,840 | -€15,873 | -19.2% |
| Plant, machinery and equipment | 23 | €1,250 | €1,317 | +€67 | +5.4% |
| Furniture and vehicles | 24 | - | €18,262 | +€18,262 | |
| Financial fixed assets | 28 | €2,137,500 | - | -€2.1m | |
| Current assets | 29/58 | €34,838 | €1,253,197 | +€1.2m | +3,497% |
| Amounts receivable within one year | 40/41 | - | €315,104 | +€315,104 | |
| Trade receivables | 40 | - | €13,766 | +€13,766 | |
| Other amounts receivable | 41 | - | €301,338 | +€301,338 | |
| Cash at bank and in hand | 54/58 | €34,838 | €933,093 | +€898,254 | +2,578% |
| Deferred charges and accrued income | 490/1 | - | €5,000 | +€5,000 | |
| Total equity and liabilities | 10/49 | €2,256,302 | €1,339,617 | -€916,686 | -40.6% |
| Equity | 10/15 | €1,528,486 | €1,302,456 | -€226,029 | -14.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €886,344 | €886,344 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €884,484 | €884,484 | = | 0.0% |
| Profit (loss) carried forward | 14 | €635,942 | €409,912 | -€226,029 | -35.5% |
| Amounts payable | 17/49 | €727,817 | €37,160 | -€690,656 | -94.9% |
| Amounts payable after more than one year | 17 | €403,127 | - | -€403,127 | |
| Financial debts | 170/4 | €403,127 | - | -€403,127 | |
| Amounts payable within one year | 42/48 | €319,019 | €32,648 | -€286,371 | -89.8% |
| Current portion of amounts payable after more than one year | 42 | €123,280 | - | -€123,280 | |
| Trade debts | 44 | €426 | €8,652 | +€8,226 | +1,932% |
| Suppliers | 440/4 | €426 | €8,652 | +€8,226 | +1,932% |
| Taxes, remuneration and social security | 45 | €44,443 | €3,476 | -€40,967 | -92.2% |
| Taxes | 450/3 | €44,443 | €3,476 | -€40,967 | -92.2% |
| Other amounts payable | 47/48 | €150,871 | €20,520 | -€130,351 | -86.4% |
| Accrued charges and deferred income | 492/3 | €5,671 | €4,512 | -€1,159 | -20.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,778 | €20,280 | +€3,501 | +20.9% |
| Other operating charges | 640/8 | €351 | €388 | +€38 | +10.8% |
| Gross operating margin | 9900 | €194,117 | €70,651 | -€123,466 | -63.6% |
| Operating profit (loss) | 9901 | €176,988 | €49,983 | -€127,005 | -71.8% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €33,160 | €272,351 | +€239,191 | +721% |
| Recurring financial charges | 65 | €33,160 | €272,351 | +€239,191 | +721% |
| Profit (loss) for the period before taxes | 9903 | €143,828 | -€222,367 | -€366,195 | |
| Income taxes | 67/77 | €41,222 | €3,662 | -€37,560 | -91.1% |
| Profit (loss) for the period | 9904 | €102,606 | -€226,029 | -€328,635 | |
| Profit (loss) for the period to be appropriated | 9905 | €102,606 | -€226,029 | -€328,635 |
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.