DCVISION: what changed
Two fiscal 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.
DCVISION
Largest movements
- Receivables within one year +€144,142
up €144,142 (+186.8%), from €77,150 to €221,292
of which Trade receivables: +€155,170
- Cash +€60,455
up €60,455 (+152.6%), from €39,616 to €100,071
mainly Net result for the year (+€102,992) and Other debts (+€76,460)
- Stocks and contracts +€33,603
up €33,603 (+61.5%), from €54,635 to €88,238
- Tangible fixed assets -€11,196
down €11,196 (-25.0%), from €44,726 to €33,530
of which Furniture and vehicles: -€12,195
- Reserves +€102,992
up €102,992 (+115.0%), from €89,549 to €192,541
of which Distributable reserves: +€102,992
- Other debts +€76,460
up €76,460 (+126.2%), from €60,578 to €137,038
- Tax, wage and social debts +€36,431
up €36,431 (+436.1%), from €8,355 to €44,786
of which Taxes: +€33,500
- Trade debts +€12,632
up €12,632 (+66.1%), from €19,106 to €31,738
- Accrued charges and deferred income +€5,845
new in 2025: €5,845
- Gross operating margin +€68,374
up €68,374 (+75.7%), from €90,276 to €158,650
- Taxes +€14,496
up €14,496 (+68.4%), from €21,179 to €35,675
- Financial charges +€5,944
up €5,944 (+456.0%), from €1,304 to €7,248
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 | €216,394 | €443,302 | +€226,908 | +104.9% |
| Fixed assets | 21/28 | €44,726 | €33,530 | -€11,196 | -25.0% |
| Tangible fixed assets | 22/27 | €44,726 | €33,530 | -€11,196 | -25.0% |
| Plant, machinery and equipment | 23 | - | €999 | +€999 | |
| Furniture and vehicles | 24 | €44,726 | €32,531 | -€12,195 | -27.3% |
| Current assets | 29/58 | €171,669 | €409,773 | +€238,104 | +138.7% |
| Stocks and contracts in progress | 3 | €54,635 | €88,238 | +€33,603 | +61.5% |
| Stocks | 30/36 | €54,635 | €88,238 | +€33,603 | +61.5% |
| Amounts receivable within one year | 40/41 | €77,150 | €221,292 | +€144,142 | +186.8% |
| Trade receivables | 40 | €64,146 | €219,316 | +€155,170 | +241.9% |
| Other amounts receivable | 41 | €13,004 | €1,976 | -€11,028 | -84.8% |
| Cash at bank and in hand | 54/58 | €39,616 | €100,071 | +€60,455 | +152.6% |
| Deferred charges and accrued income | 490/1 | €268 | €172 | -€96 | -35.8% |
| Total equity and liabilities | 10/49 | €216,394 | €443,302 | +€226,908 | +104.9% |
| Equity | 10/15 | €108,149 | €211,141 | +€102,992 | +95.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €89,549 | €192,541 | +€102,992 | +115.0% |
| Tax-exempt reserves | 132 | €10,365 | €10,365 | = | 0.0% |
| Distributable reserves | 133 | €79,185 | €182,177 | +€102,992 | +130.1% |
| Amounts payable | 17/49 | €108,245 | €232,161 | +€123,916 | +114.5% |
| Amounts payable after more than one year | 17 | €12,754 | €8,995 | -€3,759 | -29.5% |
| Financial debts | 170/4 | €12,754 | €8,995 | -€3,759 | -29.5% |
| Amounts payable within one year | 42/48 | €95,491 | €217,321 | +€121,830 | +127.6% |
| Current portion of amounts payable after more than one year | 42 | €7,452 | €3,759 | -€3,694 | -49.6% |
| Trade debts | 44 | €19,106 | €31,738 | +€12,632 | +66.1% |
| Suppliers | 440/4 | €19,106 | €31,738 | +€12,632 | +66.1% |
| Taxes, remuneration and social security | 45 | €8,355 | €44,786 | +€36,431 | +436.1% |
| Taxes | 450/3 | €5,463 | €38,963 | +€33,500 | +613.3% |
| Remuneration and social security | 454/9 | €2,892 | €5,823 | +€2,931 | +101.4% |
| Other amounts payable | 47/48 | €60,578 | €137,038 | +€76,460 | +126.2% |
| Accrued charges and deferred income | 492/3 | - | €5,845 | +€5,845 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,915 | €12,332 | +€1,417 | +13.0% |
| Other operating charges | 640/8 | €691 | €684 | -€7 | -1.0% |
| Gross operating margin | 9900 | €90,276 | €158,650 | +€68,374 | +75.7% |
| Operating profit (loss) | 9901 | €78,670 | €145,634 | +€66,964 | +85.1% |
| Financial income | 75/76B | €42 | €281 | +€239 | +574.4% |
| Recurring financial income | 75 | €42 | €281 | +€239 | +574.4% |
| Financial charges | 65/66B | €1,304 | €7,248 | +€5,944 | +456.0% |
| Recurring financial charges | 65 | €1,304 | €7,248 | +€5,944 | +456.0% |
| Profit (loss) for the period before taxes | 9903 | €77,408 | €138,667 | +€61,259 | +79.1% |
| Income taxes | 67/77 | €21,179 | €35,675 | +€14,496 | +68.4% |
| Profit (loss) for the period | 9904 | €56,229 | €102,992 | +€46,763 | +83.2% |
| Profit (loss) for the period to be appropriated | 9905 | €56,229 | €102,992 | +€46,763 | +83.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.