DE VRY: 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.
DE VRY
Largest movements
- Current investments +€693,618
up €693,618 (+46.6%), from €1.5m to €2.2m
- Cash -€129,241
down €129,241 (-36.8%), from €351,211 to €221,970
mainly Current investments (-€693,618) and Contributions, distributions and other (-€135,000)
- Accrued charges and deferred income +€400,713
up €400,713 (+151%), from €265,908 to €666,621
- Reserves +€219,599
up €219,599 (+11.8%), from €1.9m to €2.1m
of which Distributable reserves: +€219,599
- Trade debts -€29,050
down €29,050 (-58.3%), from €49,864 to €20,814
- Gross operating margin +€71,303
up €71,303 (+11.2%), from €636,269 to €707,572
- Financial charges +€60,456
up €60,456, from -€47,792 to €12,664
of which Financial charges: +€63,237
- Staff costs +€17,269
up €17,269 (+14.3%), from €121,142 to €138,411
- Depreciation +€11,908
up €11,908 (+62.7%), from €18,993 to €30,901
- Other operating charges +€8,666
up €8,666 (+56.4%), from €15,377 to €24,042
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 | €2,307,664 | €2,888,703 | +€581,038 | +25.2% |
| Fixed assets | 21/28 | €169,760 | €195,838 | +€26,078 | +15.4% |
| Tangible fixed assets | 22/27 | €168,364 | €194,442 | +€26,078 | +15.5% |
| Land and buildings | 22 | €125,390 | €131,031 | +€5,641 | +4.5% |
| Plant, machinery and equipment | 23 | - | €3,060 | +€3,060 | |
| Furniture and vehicles | 24 | €42,974 | €60,351 | +€17,377 | +40.4% |
| Financial fixed assets | 28 | €1,396 | €1,396 | = | 0.0% |
| Current assets | 29/58 | €2,137,905 | €2,692,865 | +€554,960 | +26.0% |
| Amounts receivable after more than one year | 29 | €157,287 | €135,179 | -€22,109 | -14.1% |
| Other amounts receivable | 291 | €157,287 | €135,179 | -€22,109 | -14.1% |
| Amounts receivable within one year | 40/41 | €133,654 | €145,980 | +€12,327 | +9.2% |
| Trade receivables | 40 | €117,117 | €131,655 | +€14,538 | +12.4% |
| Other amounts receivable | 41 | €16,537 | €14,326 | -€2,211 | -13.4% |
| Current investments | 50/53 | €1,489,273 | €2,182,891 | +€693,618 | +46.6% |
| Cash at bank and in hand | 54/58 | €351,211 | €221,970 | -€129,241 | -36.8% |
| Deferred charges and accrued income | 490/1 | €6,480 | €6,844 | +€365 | +5.6% |
| Total equity and liabilities | 10/49 | €2,307,664 | €2,888,703 | +€581,038 | +25.2% |
| Equity | 10/15 | €1,930,754 | €2,150,353 | +€219,599 | +11.4% |
| Contributions | 10/11 | €62,500 | €62,500 | = | 0.0% |
| Capital | 10 | €62,500 | €62,500 | = | 0.0% |
| Issued capital | 100 | €62,500 | €62,500 | = | 0.0% |
| Reserves | 13 | €1,868,254 | €2,087,853 | +€219,599 | +11.8% |
| Non-distributable reserves | 130/1 | €6,250 | €6,250 | = | 0.0% |
| Legal reserve | 130 | €6,250 | €6,250 | = | 0.0% |
| Tax-exempt reserves | 132 | €245 | €245 | = | 0.0% |
| Distributable reserves | 133 | €1,861,759 | €2,081,358 | +€219,599 | +11.8% |
| Amounts payable | 17/49 | €376,910 | €738,350 | +€361,440 | +95.9% |
| Amounts payable within one year | 42/48 | €111,002 | €71,728 | -€39,273 | -35.4% |
| Trade debts | 44 | €49,864 | €20,814 | -€29,050 | -58.3% |
| Suppliers | 440/4 | €49,864 | €20,814 | -€29,050 | -58.3% |
| Advances received on contracts in progress | 46 | - | €3,146 | +€3,146 | |
| Taxes, remuneration and social security | 45 | €61,138 | €47,768 | -€13,370 | -21.9% |
| Taxes | 450/3 | €42,531 | €27,941 | -€14,591 | -34.3% |
| Remuneration and social security | 454/9 | €18,607 | €19,828 | +€1,221 | +6.6% |
| Accrued charges and deferred income | 492/3 | €265,908 | €666,621 | +€400,713 | +151% |
| Non-recurring operating income | 76A | - | €413 | +€413 | |
| Remuneration, social security and pensions | 62 | €121,142 | €138,411 | +€17,269 | +14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,993 | €30,901 | +€11,908 | +62.7% |
| Other operating charges | 640/8 | €15,377 | €24,042 | +€8,666 | +56.4% |
| Gross operating margin | 9900 | €636,269 | €707,572 | +€71,303 | +11.2% |
| Operating profit (loss) | 9901 | €480,757 | €514,218 | +€33,461 | +7.0% |
| Financial income | 75/76B | €35,605 | €26,945 | -€8,661 | -24.3% |
| Recurring financial income | 75 | €35,460 | €26,945 | -€8,516 | -24.0% |
| Non-recurring financial income | 76B | €145 | - | -€145 | |
| Financial charges | 65/66B | -€47,792 | €12,664 | +€60,456 | |
| Recurring financial charges | 65 | -€51,773 | €11,464 | +€63,237 | |
| Non-recurring financial charges | 66B | €3,982 | €1,200 | -€2,782 | -69.9% |
| Profit (loss) for the period before taxes | 9903 | €564,154 | €528,499 | -€35,655 | -6.3% |
| Income taxes | 67/77 | €166,422 | €173,900 | +€7,478 | +4.5% |
| Profit (loss) for the period | 9904 | €397,732 | €354,599 | -€43,133 | -10.8% |
| Profit (loss) for the period to be appropriated | 9905 | €397,732 | €354,599 | -€43,133 | -10.8% |
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.