DEVALDO: 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.
DEVALDO
Largest movements
- Current investments +€432,504
up €432,504 (+271.8%), from €159,143 to €591,647
- Tangible fixed assets -€137,907
down €137,907 (-11.8%), from €1.2m to €1.0m
of which Land and buildings: -€133,755
- Receivables after one year -€60,000
down €60,000 (-48.0%), from €125,000 to €65,000
- Receivables within one year +€19,239
up €19,239 (+29.2%), from €65,808 to €85,047
of which Trade receivables: +€18,439
- Other debts +€305,557
up €305,557 (+76.5%), from €399,531 to €705,088
- Debts after one year -€70,000
down €70,000 (-70.6%), from €99,167 to €29,167
- Provisions +€147,785
no longer reported in 2025 (was -€147,785)
- Gross operating margin +€128,811
up €128,811 (+361.0%), from €35,679 to €164,490
- Taxes -€18,035
down €18,035 (-81.7%), from €22,079 to €4,043
- Financial charges -€16,461
down €16,461 (-36.0%), from €45,749 to €29,288
- Financial income +€11,378
up €11,378 (+272.5%), from €4,176 to €15,554
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 | €1,557,715 | €1,815,108 | +€257,392 | +16.5% |
| Fixed assets | 21/28 | €1,164,995 | €1,027,088 | -€137,907 | -11.8% |
| Tangible fixed assets | 22/27 | €1,164,995 | €1,027,088 | -€137,907 | -11.8% |
| Land and buildings | 22 | €1,155,174 | €1,021,419 | -€133,755 | -11.6% |
| Plant, machinery and equipment | 23 | €9,121 | €5,669 | -€3,452 | -37.8% |
| Furniture and vehicles | 24 | €700 | - | -€700 | |
| Current assets | 29/58 | €392,720 | €788,020 | +€395,300 | +100.7% |
| Amounts receivable after more than one year | 29 | €125,000 | €65,000 | -€60,000 | -48.0% |
| Other amounts receivable | 291 | €125,000 | €65,000 | -€60,000 | -48.0% |
| Amounts receivable within one year | 40/41 | €65,808 | €85,047 | +€19,239 | +29.2% |
| Trade receivables | 40 | €5,808 | €24,247 | +€18,439 | +317.5% |
| Other amounts receivable | 41 | €60,000 | €60,800 | +€800 | +1.3% |
| Current investments | 50/53 | €159,143 | €591,647 | +€432,504 | +271.8% |
| Cash at bank and in hand | 54/58 | €42,770 | €46,326 | +€3,556 | +8.3% |
| Total equity and liabilities | 10/49 | €1,557,715 | €1,815,108 | +€257,392 | +16.5% |
| Equity | 10/15 | €923,246 | €930,287 | +€7,041 | +0.8% |
| Contributions | 10/11 | €475,326 | €475,326 | = | 0.0% |
| Reserves | 13 | €112,791 | €109,519 | -€3,272 | -2.9% |
| Tax-exempt reserves | 132 | €86,562 | €83,289 | -€3,272 | -3.8% |
| Distributable reserves | 133 | €26,230 | €26,230 | = | 0.0% |
| Profit (loss) carried forward | 14 | €335,129 | €345,442 | +€10,314 | +3.1% |
| Provisions and deferred taxes | 16 | €42,889 | €41,204 | -€1,685 | -3.9% |
| Deferred taxes | 168 | €42,889 | €41,204 | -€1,685 | -3.9% |
| Amounts payable | 17/49 | €591,581 | €843,617 | +€252,036 | +42.6% |
| Amounts payable after more than one year | 17 | €99,167 | €29,167 | -€70,000 | -70.6% |
| Financial debts | 170/4 | €99,167 | €29,167 | -€70,000 | -70.6% |
| Amounts payable within one year | 42/48 | €480,194 | €787,535 | +€307,340 | +64.0% |
| Current portion of amounts payable after more than one year | 42 | €70,000 | €70,000 | = | 0.0% |
| Trade debts | 44 | €160 | - | -€160 | |
| Suppliers | 440/4 | €160 | - | -€160 | |
| Taxes, remuneration and social security | 45 | €10,503 | €12,446 | +€1,943 | +18.5% |
| Taxes | 450/3 | €10,503 | €12,446 | +€1,943 | +18.5% |
| Other amounts payable | 47/48 | €399,531 | €705,088 | +€305,557 | +76.5% |
| Accrued charges and deferred income | 492/3 | €12,220 | €26,915 | +€14,696 | +120.3% |
| Non-recurring operating income | 76A | - | €87,498 | +€87,498 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,816 | €48,061 | -€8,756 | -15.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€147,785 | - | +€147,785 | |
| Other operating charges | 640/8 | €3,102 | €3,296 | +€194 | +6.3% |
| Gross operating margin | 9900 | €35,679 | €164,490 | +€128,811 | +361.0% |
| Operating profit (loss) | 9901 | €123,546 | €113,134 | -€10,412 | -8.4% |
| Financial income | 75/76B | €4,176 | €15,554 | +€11,378 | +272.5% |
| Recurring financial income | 75 | €4,176 | €15,554 | +€11,378 | +272.5% |
| Financial charges | 65/66B | €45,749 | €29,288 | -€16,461 | -36.0% |
| Recurring financial charges | 65 | €45,749 | €29,288 | -€16,461 | -36.0% |
| Profit (loss) for the period before taxes | 9903 | €81,973 | €99,400 | +€17,427 | +21.3% |
| Transfer from deferred taxes | 780 | €1,685 | €1,685 | = | 0.0% |
| Income taxes | 67/77 | €22,079 | €4,043 | -€18,035 | -81.7% |
| Profit (loss) for the period | 9904 | €61,579 | €97,041 | +€35,462 | +57.6% |
| Transfer from tax-exempt reserves | 789 | €3,272 | €3,272 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €64,852 | €100,314 | +€35,462 | +54.7% |
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 7 October 2026 via checked.be.