DERVARO: 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.
DERVARO
Largest movements
- Tangible fixed assets +€63,266
up €63,266 (+3.3%), from €1.9m to €2.0m
of which Furniture and vehicles: +€155,913
- Cash +€53,830
up €53,830 (+119%), from €45,397 to €99,227
mainly Depreciation (+€156,445) and Net result for the year (+€126,521)
- Reserves +€119,021
up €119,021 (+15.7%), from €756,247 to €875,269
- Debts after one year -€92,200
down €92,200 (-14.6%), from €630,505 to €538,305
- Other debts +€50,437
up €50,437 (+14.6%), from €346,207 to €396,644
- Gross operating margin -€83,075
down €83,075 (-24.8%), from €335,260 to €252,185
- Financial charges +€28,179
up €28,179 (+23.4%), from €120,624 to €148,802
- Taxes -€13,734
down €13,734 (-43.6%), from €31,480 to €17,745
- Financial income +€6,406
up €6,406 (+3.2%), from €200,457 to €206,864
- Other operating charges +€4,197
up €4,197 (+78.6%), from €5,337 to €9,534
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 | €3,000,668 | €3,100,899 | +€100,231 | +3.3% |
| Fixed assets | 21/28 | €2,479,776 | €2,543,043 | +€63,266 | +2.6% |
| Tangible fixed assets | 22/27 | €1,910,266 | €1,973,533 | +€63,266 | +3.3% |
| Land and buildings | 22 | €1,823,760 | €1,732,771 | -€90,989 | -5.0% |
| Plant, machinery and equipment | 23 | €6,630 | €4,973 | -€1,658 | -25.0% |
| Furniture and vehicles | 24 | €79,876 | €235,789 | +€155,913 | +195% |
| Financial fixed assets | 28 | €569,510 | €569,510 | = | 0.0% |
| Current assets | 29/58 | €520,892 | €557,857 | +€36,965 | +7.1% |
| Stocks and contracts in progress | 3 | €15,523 | €22,125 | +€6,602 | +42.5% |
| Stocks | 30/36 | €15,523 | €22,125 | +€6,602 | +42.5% |
| Amounts receivable within one year | 40/41 | €179,087 | €149,614 | -€29,472 | -16.5% |
| Trade receivables | 40 | €154,587 | €105,467 | -€49,120 | -31.8% |
| Other amounts receivable | 41 | €24,500 | €44,147 | +€19,648 | +80.2% |
| Current investments | 50/53 | €254,359 | €267,882 | +€13,523 | +5.3% |
| Cash at bank and in hand | 54/58 | €45,397 | €99,227 | +€53,830 | +119% |
| Deferred charges and accrued income | 490/1 | €26,526 | €19,009 | -€7,518 | -28.3% |
| Total equity and liabilities | 10/49 | €3,000,668 | €3,100,899 | +€100,231 | +3.3% |
| Equity | 10/15 | €1,274,847 | €1,393,869 | +€119,021 | +9.3% |
| Contributions | 10/11 | €518,600 | €518,600 | = | 0.0% |
| Reserves | 13 | €756,247 | €875,269 | +€119,021 | +15.7% |
| Distributable reserves | 133 | €756,247 | €875,269 | +€119,021 | +15.7% |
| Provisions and deferred taxes | 16 | €586,562 | €584,807 | -€1,755 | -0.3% |
| Provisions for liabilities and charges | 160/5 | €586,562 | €584,807 | -€1,755 | -0.3% |
| Other liabilities and charges | 164/5 | €586,562 | €584,807 | -€1,755 | -0.3% |
| Amounts payable | 17/49 | €1,139,259 | €1,122,224 | -€17,035 | -1.5% |
| Amounts payable after more than one year | 17 | €630,505 | €538,305 | -€92,200 | -14.6% |
| Financial debts | 170/4 | €630,505 | €538,305 | -€92,200 | -14.6% |
| Amounts payable within one year | 42/48 | €505,458 | €578,732 | +€73,274 | +14.5% |
| Current portion of amounts payable after more than one year | 42 | €99,797 | €100,780 | +€982 | +1.0% |
| Trade debts | 44 | €7,481 | €8,906 | +€1,425 | +19.0% |
| Suppliers | 440/4 | €7,481 | €8,906 | +€1,425 | +19.0% |
| Taxes, remuneration and social security | 45 | €51,972 | €72,402 | +€20,430 | +39.3% |
| Taxes | 450/3 | €51,972 | €69,469 | +€17,497 | +33.7% |
| Remuneration and social security | 454/9 | - | €2,933 | +€2,933 | |
| Other amounts payable | 47/48 | €346,207 | €396,644 | +€50,437 | +14.6% |
| Accrued charges and deferred income | 492/3 | €3,297 | €5,188 | +€1,891 | +57.4% |
| Non-recurring operating income | 76A | €13,636 | €3,172 | -€10,464 | -76.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €158,571 | €156,445 | -€2,126 | -1.3% |
| Other operating charges | 640/8 | €5,337 | €9,534 | +€4,197 | +78.6% |
| Gross operating margin | 9900 | €335,260 | €252,185 | -€83,075 | -24.8% |
| Operating profit (loss) | 9901 | €171,351 | €86,205 | -€85,146 | -49.7% |
| Financial income | 75/76B | €200,457 | €206,864 | +€6,406 | +3.2% |
| Recurring financial income | 75 | €200,457 | €206,864 | +€6,406 | +3.2% |
| Financial charges | 65/66B | €120,624 | €148,802 | +€28,179 | +23.4% |
| Recurring financial charges | 65 | €120,624 | €148,802 | +€28,179 | +23.4% |
| Profit (loss) for the period before taxes | 9903 | €251,185 | €144,266 | -€106,918 | -42.6% |
| Income taxes | 67/77 | €31,480 | €17,745 | -€13,734 | -43.6% |
| Profit (loss) for the period | 9904 | €219,705 | €126,521 | -€93,184 | -42.4% |
| Profit (loss) for the period to be appropriated | 9905 | €219,705 | €126,521 | -€93,184 | -42.4% |
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 20 October 2026 via checked.be.