DECOVAN: what changed
What changed
DECOVAN
NACE 43.320, Joinery installation
filed annual accounts (NBB)
Net result for the year
€82,868
2024 · €80,170+€2,698
Equity
€1.0m
2024 · €930,858+€82,685
Cash
€53,309
2024 · €123,314-€70,004
Balance sheet total
€1.6m
2024 · €1.5m+€59,599
Largest movements
Assets
- Stocks and contracts +€161,641
up €161,641 (+16.2%), from €997,274 to €1.2m
of which Stocks: +€161,641
- Cash -€70,004
down €70,004 (-56.8%), from €123,314 to €53,309
mainly Stocks and contracts (-€161,641) and Investment in fixed assets (net) (-€63,582)
- Receivables within one year -€43,547
down €43,547 (-14.0%), from €312,029 to €268,483
of which Trade receivables: -€68,769
- Tangible fixed assets +€21,565
up €21,565 (+48.2%), from €44,769 to €66,334
of which Furniture and vehicles: +€28,935
Equity and liabilities
- Reserves +€82,685
up €82,685 (+9.5%), from €868,858 to €951,543
of which Distributable reserves: +€82,685
- Tax, wage and social debts -€25,644
down €25,644 (-32.6%), from €78,679 to €53,035
of which Taxes: -€25,669
Income statement
- Gross operating margin -€25,604
down €25,604 (-6.6%), from €385,781 to €360,177
- Staff costs -€22,140
down €22,140 (-9.6%), from €230,519 to €208,380
- Taxes -€11,954
down €11,954 (-32.7%), from €36,553 to €24,598
- Depreciation +€8,344
up €8,344 (+26.4%), from €31,654 to €39,998
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€80,170
Gross operating margin
-€25,604
Staff costs
+€22,140
Depreciation
-€8,344
Other operating charges
+€1,454
Financial income
-€761
Financial charges
+€1,859
Taxes
+€11,954
Result 2025
€82,868
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€4,210
Investment
-€63,586
Financing
-€2,208
Cash 2024
€123,314
From operations (derived)
-€4,210
Net result for the year
+€82,868
Depreciation
+€39,998
Stocks and contracts
-€161,641
Receivables within one year
+€43,547
Deferred charges and accrued income
+€12,078
Trade debts
-€7,505
Tax, wage and social debts
-€25,644
Advances received
+€12,089
Investment (derived)
-€63,586
Investment in fixed assets (net)
-€63,582
Current investments
-€3
Financing
-€2,208
Debts after one year
-€6,425
Current portion of long-term debt
+€4,399
Contributions, distributions and other
-€182
Cash 2025
€53,309
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,502,418 | €1,562,018 | +€59,599 | +4.0% |
| Fixed assets | 21/28 | €48,488 | €72,072 | +€23,584 | +48.6% |
| Intangible fixed assets | 21 | €3,644 | €5,663 | +€2,020 | +55.4% |
| Tangible fixed assets | 22/27 | €44,769 | €66,334 | +€21,565 | +48.2% |
| Land and buildings | 22 | €4,946 | €3,859 | -€1,087 | -22.0% |
| Plant, machinery and equipment | 23 | €17,387 | €11,103 | -€6,284 | -36.1% |
| Furniture and vehicles | 24 | €22,437 | €51,372 | +€28,935 | +129% |
| Financial fixed assets | 28 | €74 | €74 | = | 0.0% |
| Current assets | 29/58 | €1,453,931 | €1,489,946 | +€36,015 | +2.5% |
| Stocks and contracts in progress | 3 | €997,274 | €1,158,915 | +€161,641 | +16.2% |
| Stocks | 30/36 | €959,173 | €1,120,814 | +€161,641 | +16.9% |
| Contracts in progress | 37 | €38,101 | €38,101 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €312,029 | €268,483 | -€43,547 | -14.0% |
| Trade receivables | 40 | €246,864 | €178,095 | -€68,769 | -27.9% |
| Other amounts receivable | 41 | €65,166 | €90,388 | +€25,222 | +38.7% |
| Current investments | 50/53 | €634 | €637 | +€3 | +0.5% |
| Cash at bank and in hand | 54/58 | €123,314 | €53,309 | -€70,004 | -56.8% |
| Deferred charges and accrued income | 490/1 | €20,681 | €8,602 | -€12,078 | -58.4% |
| Total equity and liabilities | 10/49 | €1,502,418 | €1,562,018 | +€59,599 | +4.0% |
| Equity | 10/15 | €930,858 | €1,013,543 | +€82,685 | +8.9% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €868,858 | €951,543 | +€82,685 | +9.5% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €53,572 | €53,572 | = | 0.0% |
| Distributable reserves | 133 | €809,086 | €891,771 | +€82,685 | +10.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €571,560 | €548,474 | -€23,086 | -4.0% |
| Amounts payable after more than one year | 17 | €137,582 | €131,157 | -€6,425 | -4.7% |
| Financial debts | 170/4 | €0 | €23,116 | +€23,116 | |
| Other amounts payable | 178/9 | €137,582 | €108,042 | -€29,541 | -21.5% |
| Amounts payable within one year | 42/48 | €426,190 | €409,529 | -€16,661 | -3.9% |
| Current portion of amounts payable after more than one year | 42 | €7,474 | €11,873 | +€4,399 | +58.9% |
| Financial debts | 43 | €125,000 | €125,000 | = | 0.0% |
| Credit institutions | 430/8 | €125,000 | €125,000 | = | 0.0% |
| Trade debts | 44 | €158,727 | €151,221 | -€7,505 | -4.7% |
| Suppliers | 440/4 | €158,727 | €151,221 | -€7,505 | -4.7% |
| Advances received on contracts in progress | 46 | €56,310 | €68,400 | +€12,089 | +21.5% |
| Taxes, remuneration and social security | 45 | €78,679 | €53,035 | -€25,644 | -32.6% |
| Taxes | 450/3 | €71,017 | €45,349 | -€25,669 | -36.1% |
| Remuneration and social security | 454/9 | €7,662 | €7,686 | +€24 | +0.3% |
| Accrued charges and deferred income | 492/3 | €7,787 | €7,787 | = | 0.0% |
| Non-recurring operating income | 76A | €2,000 | €0 | -€2,000 | -100% |
| Remuneration, social security and pensions | 62 | €230,519 | €208,380 | -€22,140 | -9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,654 | €39,998 | +€8,344 | +26.4% |
| Other operating charges | 640/8 | €5,598 | €4,144 | -€1,454 | -26.0% |
| Gross operating margin | 9900 | €385,781 | €360,177 | -€25,604 | -6.6% |
| Operating profit (loss) | 9901 | €118,010 | €107,656 | -€10,354 | -8.8% |
| Financial income | 75/76B | €7,996 | €7,235 | -€761 | -9.5% |
| Recurring financial income | 75 | €7,996 | €7,235 | -€761 | -9.5% |
| Financial charges | 65/66B | €9,284 | €7,425 | -€1,859 | -20.0% |
| Recurring financial charges | 65 | €9,284 | €7,425 | -€1,859 | -20.0% |
| Profit (loss) for the period before taxes | 9903 | €116,723 | €107,466 | -€9,256 | -7.9% |
| Income taxes | 67/77 | €36,553 | €24,598 | -€11,954 | -32.7% |
| Profit (loss) for the period | 9904 | €80,170 | €82,868 | +€2,698 | +3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €80,170 | €82,868 | +€2,698 | +3.4% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.