DERVAC: 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.
DERVAC
Largest movements
- Current investments +€84,711
up €84,711 (+67.8%), from €125,000 to €209,711
- Cash -€32,288
down €32,288 (-21.9%), from €147,369 to €115,081
mainly Current investments (-€84,711) and Investment in fixed assets (net) (-€1,191)
- Tangible fixed assets -€7,653
down €7,653 (-30.9%), from €24,797 to €17,143
of which Furniture and vehicles: -€7,333
- Receivables within one year -€5,435
down €5,435 (-85.1%), from €6,388 to €953
- Reserves +€39,544
up €39,544 (+13.8%), from €285,744 to €325,289
- Gross operating margin +€6,482
up €6,482 (+11.3%), from €57,538 to €64,020
- Financial income -€4,894
down €4,894 (-52.7%), from €9,288 to €4,394
- Taxes +€1,408
up €1,408 (+8.1%), from €17,416 to €18,824
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 | €304,666 | €343,291 | +€38,625 | +12.7% |
| Fixed assets | 21/28 | €24,797 | €17,143 | -€7,653 | -30.9% |
| Tangible fixed assets | 22/27 | €24,797 | €17,143 | -€7,653 | -30.9% |
| Plant, machinery and equipment | 23 | €1,997 | €2,116 | +€119 | +6.0% |
| Furniture and vehicles | 24 | €22,360 | €15,027 | -€7,333 | -32.8% |
| Other tangible fixed assets | 26 | €440 | €0 | -€440 | -100.0% |
| Current assets | 29/58 | €279,869 | €326,148 | +€46,278 | +16.5% |
| Amounts receivable within one year | 40/41 | €6,388 | €953 | -€5,435 | -85.1% |
| Trade receivables | 40 | €6,388 | €953 | -€5,435 | -85.1% |
| Current investments | 50/53 | €125,000 | €209,711 | +€84,711 | +67.8% |
| Cash at bank and in hand | 54/58 | €147,369 | €115,081 | -€32,288 | -21.9% |
| Deferred charges and accrued income | 490/1 | €1,113 | €403 | -€709 | -63.7% |
| Total equity and liabilities | 10/49 | €304,666 | €343,291 | +€38,625 | +12.7% |
| Equity | 10/15 | €291,944 | €331,489 | +€39,544 | +13.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €285,744 | €325,289 | +€39,544 | +13.8% |
| Distributable reserves | 133 | €285,744 | €325,289 | +€39,544 | +13.8% |
| Amounts payable | 17/49 | €12,722 | €11,802 | -€919 | -7.2% |
| Amounts payable within one year | 42/48 | €12,722 | €11,802 | -€919 | -7.2% |
| Trade debts | 44 | €332 | €0 | -€332 | -100.0% |
| Suppliers | 440/4 | €332 | €0 | -€332 | -100.0% |
| Taxes, remuneration and social security | 45 | €4,528 | €4,743 | +€215 | +4.7% |
| Taxes | 450/3 | €4,528 | €4,743 | +€215 | +4.7% |
| Other amounts payable | 47/48 | €7,862 | €7,060 | -€803 | -10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,615 | €8,844 | +€229 | +2.7% |
| Other operating charges | 640/8 | €587 | €870 | +€283 | +48.1% |
| Gross operating margin | 9900 | €57,538 | €64,020 | +€6,482 | +11.3% |
| Operating profit (loss) | 9901 | €48,336 | €54,306 | +€5,970 | +12.4% |
| Financial income | 75/76B | €9,288 | €4,394 | -€4,894 | -52.7% |
| Recurring financial income | 75 | €9,288 | €4,394 | -€4,894 | -52.7% |
| Financial charges | 65/66B | €49 | €332 | +€283 | +579.4% |
| Recurring financial charges | 65 | €49 | €332 | +€283 | +579.4% |
| Profit (loss) for the period before taxes | 9903 | €57,575 | €58,368 | +€793 | +1.4% |
| Income taxes | 67/77 | €17,416 | €18,824 | +€1,408 | +8.1% |
| Profit (loss) for the period | 9904 | €40,159 | €39,544 | -€615 | -1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €40,159 | €39,544 | -€615 | -1.5% |
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 6 October 2026 via checked.be.