DEVAN: 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.
DEVAN
Largest movements
- Current investments +€250,000
new in 2025: €250,000
- Cash -€181,296
down €181,296 (-58.2%), from €311,311 to €130,015
mainly Contributions, distributions and other (-€613,101) and Current investments (-€250,000)
- Tangible fixed assets -€144,220
down €144,220 (-12.3%), from €1.2m to €1.0m
of which Other tangible fixed assets: -€101,414
- Receivables within one year -€54,497
down €54,497 (-26.1%), from €208,715 to €154,218
of which Trade receivables: -€49,524
- Stocks and contracts +€33,366
up €33,366 (+6.3%), from €532,103 to €565,469
- Reserves -€427,370
down €427,370 (-45.5%), from €939,975 to €512,605
of which Distributable reserves: -€427,370
- Other debts +€384,190
up €384,190 (+109.1%), from €352,241 to €736,431
- Trade debts +€68,565
up €68,565 (+13.6%), from €505,098 to €573,663
- Debts after one year -€60,102
down €60,102 (-41.7%), from €144,094 to €83,992
- Tax, wage and social debts -€24,868
down €24,868 (-17.4%), from €142,733 to €117,865
of which Remuneration and social security: -€28,137
- Staff costs +€112,928
up €112,928 (+18.7%), from €603,733 to €716,661
- Gross operating margin -€73,678
down €73,678 (-5.9%), from €1.3m to €1.2m
- Taxes -€42,471
down €42,471 (-33.0%), from €128,770 to €86,299
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 | €2,235,210 | €2,147,597 | -€87,612 | -3.9% |
| Fixed assets | 21/28 | €1,170,340 | €1,026,119 | -€144,220 | -12.3% |
| Tangible fixed assets | 22/27 | €1,170,340 | €1,026,119 | -€144,220 | -12.3% |
| Plant, machinery and equipment | 23 | €144,997 | €129,432 | -€15,565 | -10.7% |
| Furniture and vehicles | 24 | €81,593 | €54,351 | -€27,241 | -33.4% |
| Other tangible fixed assets | 26 | €943,750 | €842,336 | -€101,414 | -10.7% |
| Current assets | 29/58 | €1,064,870 | €1,121,478 | +€56,608 | +5.3% |
| Stocks and contracts in progress | 3 | €532,103 | €565,469 | +€33,366 | +6.3% |
| Stocks | 30/36 | €532,103 | €565,469 | +€33,366 | +6.3% |
| Amounts receivable within one year | 40/41 | €208,715 | €154,218 | -€54,497 | -26.1% |
| Trade receivables | 40 | €128,494 | €78,970 | -€49,524 | -38.5% |
| Other amounts receivable | 41 | €80,221 | €75,248 | -€4,973 | -6.2% |
| Current investments | 50/53 | - | €250,000 | +€250,000 | |
| Cash at bank and in hand | 54/58 | €311,311 | €130,015 | -€181,296 | -58.2% |
| Deferred charges and accrued income | 490/1 | €12,742 | €21,777 | +€9,035 | +70.9% |
| Total equity and liabilities | 10/49 | €2,235,210 | €2,147,597 | -€87,612 | -3.9% |
| Equity | 10/15 | €976,904 | €547,618 | -€429,286 | -43.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €939,975 | €512,605 | -€427,370 | -45.5% |
| Tax-exempt reserves | 132 | €26,450 | €26,450 | = | 0.0% |
| Distributable reserves | 133 | €913,525 | €486,155 | -€427,370 | -46.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Investment grants | 15 | €18,330 | €16,414 | -€1,916 | -10.5% |
| Amounts payable | 17/49 | €1,258,306 | €1,599,979 | +€341,673 | +27.2% |
| Amounts payable after more than one year | 17 | €144,094 | €83,992 | -€60,102 | -41.7% |
| Financial debts | 170/4 | €144,094 | €83,992 | -€60,102 | -41.7% |
| Amounts payable within one year | 42/48 | €1,095,899 | €1,496,474 | +€400,575 | +36.6% |
| Current portion of amounts payable after more than one year | 42 | €83,181 | €60,102 | -€23,079 | -27.7% |
| Financial debts | 43 | €12,647 | €8,413 | -€4,233 | -33.5% |
| Credit institutions | 430/8 | €12,647 | €8,413 | -€4,233 | -33.5% |
| Trade debts | 44 | €505,098 | €573,663 | +€68,565 | +13.6% |
| Suppliers | 440/4 | €505,098 | €573,663 | +€68,565 | +13.6% |
| Taxes, remuneration and social security | 45 | €142,733 | €117,865 | -€24,868 | -17.4% |
| Taxes | 450/3 | €8,444 | €11,714 | +€3,269 | +38.7% |
| Remuneration and social security | 454/9 | €134,289 | €106,152 | -€28,137 | -21.0% |
| Other amounts payable | 47/48 | €352,241 | €736,431 | +€384,190 | +109.1% |
| Accrued charges and deferred income | 492/3 | €18,312 | €19,513 | +€1,200 | +6.6% |
| Non-recurring operating income | 76A | €58,422 | €0 | -€58,422 | -100.0% |
| Remuneration, social security and pensions | 62 | €603,733 | €716,661 | +€112,928 | +18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €166,302 | €173,430 | +€7,128 | +4.3% |
| Other operating charges | 640/8 | €11,983 | €2,611 | -€9,373 | -78.2% |
| Gross operating margin | 9900 | €1,254,116 | €1,180,438 | -€73,678 | -5.9% |
| Operating profit (loss) | 9901 | €472,097 | €287,735 | -€184,361 | -39.1% |
| Financial income | 75/76B | €2,649 | €8,222 | +€5,573 | +210.4% |
| Recurring financial income | 75 | €2,649 | €8,222 | +€5,573 | +210.4% |
| Financial charges | 65/66B | €25,552 | €25,843 | +€292 | +1.1% |
| Recurring financial charges | 65 | €25,552 | €25,843 | +€292 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | €449,194 | €270,114 | -€179,080 | -39.9% |
| Income taxes | 67/77 | €128,770 | €86,299 | -€42,471 | -33.0% |
| Profit (loss) for the period | 9904 | €320,424 | €183,815 | -€136,609 | -42.6% |
| Profit (loss) for the period to be appropriated | 9905 | €320,424 | €183,815 | -€136,609 | -42.6% |
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 2 October 2026 via checked.be.