DEVAN: 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.
DEVAN
Largest movements
- Stocks and contracts +€64,852
up €64,852 (+96.0%), from €67,547 to €132,399
of which Contracts in progress: +€65,884
- Cash -€41,859
down €41,859 (-55.2%), from €75,845 to €33,986
mainly Stocks and contracts (-€64,852) and Contributions, distributions and other (-€55,411)
- Tangible fixed assets -€27,989
down €27,989 (-8.9%), from €314,280 to €286,290
of which Furniture and vehicles: -€21,227
- Receivables within one year -€9,566
down €9,566 (-7.5%), from €127,474 to €117,909
of which Trade receivables: -€8,945
- Other debts +€29,712
up €29,712 (+13.4%), from €222,301 to €252,012
- Reserves -€21,421
down €21,421 (-10.0%), from €213,874 to €192,452
- Advances received -€13,868
no longer reported in 2025 (was €13,868)
- Gross operating margin +€31,024
up €31,024 (+45.7%), from €67,920 to €98,944
- Taxes +€13,509
up €13,509 (+825%), from €1,637 to €15,146
- Financial income +€2,650
up €2,650 (+62.0%), from €4,272 to €6,922
- Depreciation -€2,624
down €2,624 (-6.1%), from €43,012 to €40,388
- Financial charges -€2,369
down €2,369 (-13.4%), from €17,711 to €15,341
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 | €606,585 | €586,186 | -€20,399 | -3.4% |
| Fixed assets | 21/28 | €314,280 | €286,290 | -€27,989 | -8.9% |
| Tangible fixed assets | 22/27 | €314,280 | €286,290 | -€27,989 | -8.9% |
| Land and buildings | 22 | €255,284 | €253,857 | -€1,427 | -0.6% |
| Plant, machinery and equipment | 23 | €22,380 | €17,045 | -€5,335 | -23.8% |
| Furniture and vehicles | 24 | €36,615 | €15,388 | -€21,227 | -58.0% |
| Current assets | 29/58 | €292,305 | €299,896 | +€7,590 | +2.6% |
| Stocks and contracts in progress | 3 | €67,547 | €132,399 | +€64,852 | +96.0% |
| Stocks | 30/36 | €16,767 | €15,735 | -€1,032 | -6.2% |
| Contracts in progress | 37 | €50,780 | €116,664 | +€65,884 | +130% |
| Amounts receivable within one year | 40/41 | €127,474 | €117,909 | -€9,566 | -7.5% |
| Trade receivables | 40 | €109,480 | €100,534 | -€8,945 | -8.2% |
| Other amounts receivable | 41 | €17,995 | €17,374 | -€620 | -3.4% |
| Cash at bank and in hand | 54/58 | €75,845 | €33,986 | -€41,859 | -55.2% |
| Deferred charges and accrued income | 490/1 | €21,439 | €15,603 | -€5,836 | -27.2% |
| Total equity and liabilities | 10/49 | €606,585 | €586,186 | -€20,399 | -3.4% |
| Equity | 10/15 | €324,687 | €303,268 | -€21,419 | -6.6% |
| Contributions | 10/11 | €9,352 | €9,352 | = | 0.0% |
| Reserves | 13 | €213,874 | €192,452 | -€21,421 | -10.0% |
| Distributable reserves | 133 | €213,874 | €192,452 | -€21,421 | -10.0% |
| Profit (loss) carried forward | 14 | €101,461 | €101,463 | +€3 | 0.0% |
| Amounts payable | 17/49 | €281,899 | €282,918 | +€1,020 | +0.4% |
| Amounts payable after more than one year | 17 | €6,001 | - | -€6,001 | |
| Financial debts | 170/4 | €6,001 | - | -€6,001 | |
| Amounts payable within one year | 42/48 | €275,897 | €282,918 | +€7,021 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | €11,728 | €6,001 | -€5,727 | -48.8% |
| Trade debts | 44 | €23,090 | €18,675 | -€4,414 | -19.1% |
| Suppliers | 440/4 | €23,090 | €18,675 | -€4,414 | -19.1% |
| Advances received on contracts in progress | 46 | €13,868 | - | -€13,868 | |
| Taxes, remuneration and social security | 45 | €4,911 | €6,230 | +€1,319 | +26.9% |
| Taxes | 450/3 | €4,911 | €6,230 | +€1,319 | +26.9% |
| Other amounts payable | 47/48 | €222,301 | €252,012 | +€29,712 | +13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,012 | €40,388 | -€2,624 | -6.1% |
| Other operating charges | 640/8 | €1,293 | €998 | -€295 | -22.8% |
| Gross operating margin | 9900 | €67,920 | €98,944 | +€31,024 | +45.7% |
| Operating profit (loss) | 9901 | €23,615 | €57,558 | +€33,943 | +144% |
| Financial income | 75/76B | €4,272 | €6,922 | +€2,650 | +62.0% |
| Recurring financial income | 75 | €4,272 | €6,922 | +€2,650 | +62.0% |
| Financial charges | 65/66B | €17,711 | €15,341 | -€2,369 | -13.4% |
| Recurring financial charges | 65 | €17,711 | €15,341 | -€2,369 | -13.4% |
| Profit (loss) for the period before taxes | 9903 | €10,176 | €49,138 | +€38,962 | +383% |
| Income taxes | 67/77 | €1,637 | €15,146 | +€13,509 | +825% |
| Profit (loss) for the period | 9904 | €8,539 | €33,993 | +€25,453 | +298% |
| Profit (loss) for the period to be appropriated | 9905 | €8,539 | €33,993 | +€25,453 | +298% |
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 14 October 2026 via checked.be.