DEVAL: 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.
DEVAL
Largest movements
- Cash -€37,455
down €37,455 (-29.6%), from €126,711 to €89,257
mainly Receivables within one year (-€24,626) and Debts after one year (-€13,825)
- Receivables within one year +€24,626
up €24,626 (+43.9%), from €56,106 to €80,732
of which Other amounts receivable: +€25,331
- Tangible fixed assets -€22,433
down €22,433 (-6.2%), from €360,992 to €338,560
- Debts after one year -€13,825
down €13,825 (-49.0%), from €28,200 to €14,374
- Current portion of long-term debt -€13,183
down €13,183 (-48.8%), from €27,008 to €13,825
- Profit (loss) carried forward -€11,839
down €11,839 (-6.0%), from -€196,669 to -€208,507
- Write-downs -€55,860
no longer reported in 2025 (was €55,860)
- Gross operating margin +€16,275
up €16,275 (+151.4%), from €10,749 to €27,023
- Financial income +€2,142
up €2,142 (+805.2%), from €266 to €2,408
- Financial charges -€1,429
down €1,429 (-32.2%), from €4,436 to €3,007
- Other operating charges +€599
up €599 (+3.9%), from €15,231 to €15,830
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 | €543,810 | €508,548 | -€35,262 | -6.5% |
| Fixed assets | 21/28 | €360,992 | €338,560 | -€22,433 | -6.2% |
| Tangible fixed assets | 22/27 | €360,992 | €338,560 | -€22,433 | -6.2% |
| Land and buildings | 22 | €360,992 | €338,560 | -€22,433 | -6.2% |
| Current assets | 29/58 | €182,817 | €169,988 | -€12,829 | -7.0% |
| Amounts receivable within one year | 40/41 | €56,106 | €80,732 | +€24,626 | +43.9% |
| Trade receivables | 40 | €705 | - | -€705 | |
| Other amounts receivable | 41 | €55,401 | €80,732 | +€25,331 | +45.7% |
| Cash at bank and in hand | 54/58 | €126,711 | €89,257 | -€37,455 | -29.6% |
| Total equity and liabilities | 10/49 | €543,810 | €508,548 | -€35,262 | -6.5% |
| Equity | 10/15 | €383,837 | €371,999 | -€11,839 | -3.1% |
| Contributions | 10/11 | €213,188 | €213,188 | = | 0.0% |
| Capital | 10 | €213,188 | €213,188 | = | 0.0% |
| Issued capital | 100 | €213,188 | €213,188 | = | 0.0% |
| Reserves | 13 | €367,317 | €367,317 | = | 0.0% |
| Non-distributable reserves | 130/1 | €21,319 | €21,319 | = | 0.0% |
| Legal reserve | 130 | €21,319 | €21,319 | = | 0.0% |
| Tax-exempt reserves | 132 | €295,313 | €295,313 | = | 0.0% |
| Distributable reserves | 133 | €50,686 | €50,686 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€196,669 | -€208,507 | -€11,839 | -6.0% |
| Provisions and deferred taxes | 16 | €98,438 | €98,438 | = | 0.0% |
| Deferred taxes | 168 | €98,438 | €98,438 | = | 0.0% |
| Amounts payable | 17/49 | €61,535 | €38,112 | -€23,423 | -38.1% |
| Amounts payable after more than one year | 17 | €28,200 | €14,374 | -€13,825 | -49.0% |
| Financial debts | 170/4 | €28,200 | €14,374 | -€13,825 | -49.0% |
| Amounts payable within one year | 42/48 | €33,335 | €20,048 | -€13,287 | -39.9% |
| Current portion of amounts payable after more than one year | 42 | €27,008 | €13,825 | -€13,183 | -48.8% |
| Trade debts | 44 | - | €29 | +€29 | |
| Suppliers | 440/4 | - | €29 | +€29 | |
| Taxes, remuneration and social security | 45 | €1,567 | €1,433 | -€134 | -8.5% |
| Taxes | 450/3 | €1,567 | €1,433 | -€134 | -8.5% |
| Other amounts payable | 47/48 | €4,760 | €4,760 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €3,689 | +€3,689 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,641 | €22,433 | -€208 | -0.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €55,860 | - | -€55,860 | |
| Other operating charges | 640/8 | €15,231 | €15,830 | +€599 | +3.9% |
| Gross operating margin | 9900 | €10,749 | €27,023 | +€16,275 | +151.4% |
| Operating profit (loss) | 9901 | -€82,983 | -€11,239 | +€71,743 | +86.5% |
| Financial income | 75/76B | €266 | €2,408 | +€2,142 | +805.2% |
| Recurring financial income | 75 | €266 | €2,408 | +€2,142 | +805.2% |
| Financial charges | 65/66B | €4,436 | €3,007 | -€1,429 | -32.2% |
| Recurring financial charges | 65 | €4,436 | €3,007 | -€1,429 | -32.2% |
| Profit (loss) for the period before taxes | 9903 | -€87,152 | -€11,839 | +€75,314 | +86.4% |
| Profit (loss) for the period | 9904 | -€87,152 | -€11,839 | +€75,314 | +86.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€87,152 | -€11,839 | +€75,314 | +86.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.