DEVAN HANDELSMAATSCHAPPIJ: 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.
What changed
DEVAN HANDELSMAATSCHAPPIJ
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€22,032
2024 · €9,049+€12,984
Equity
€621,370
2024 · €609,338+€12,032
Cash
€29,410
2024 · €21,407+€8,003
Balance sheet total
€1.8m
2024 · €1.7m+€123,370
Largest movements
Assets
- Tangible fixed assets +€110,317
up €110,317 (+7.8%), from €1.4m to €1.5m
of which Land and buildings: +€111,018
- Receivables after one year +€25,200
up €25,200 (+14.3%), from €176,722 to €201,922
- Receivables within one year -€21,520
down €21,520 (-30.3%), from €71,000 to €49,480
of which Other amounts receivable: -€21,520
Equity and liabilities
- Debts after one year +€94,728
up €94,728 (+10.8%), from €878,507 to €973,235
of which Financial debts: +€94,365
Income statement
- Gross operating margin +€19,609
up €19,609 (+13.7%), from €142,665 to €162,275
- Financial charges +€6,550
up €6,550 (+40.1%), from €16,343 to €22,893
- Depreciation -€5,724
down €5,724 (-6.3%), from €91,001 to €85,278
- Taxes -€2,980
down €2,980 (-88.6%), from €3,362 to €382
- Other operating charges +€1,784
up €1,784 (+6.8%), from €26,286 to €28,070
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.
Result 2024
€9,049
Gross operating margin
+€19,609
Depreciation
+€5,724
Other operating charges
-€1,784
Financial income
-€27
Financial charges
-€6,550
Taxes
+€2,980
Deferred taxes and other
-€6,969
Result 2025
€22,032
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€106,524
Investment
-€195,594
Financing
+€97,073
Cash 2024
€21,407
From operations (derived)
+€106,524
Net result for the year
+€22,032
Depreciation
+€85,278
Receivables after one year
-€25,200
Receivables within one year
+€21,520
Deferred charges and accrued income
-€1,370
Provisions
+€3,660
Trade debts
+€4,398
Tax, wage and social debts
-€3,415
Accrued charges and deferred income
-€379
Investment (derived)
-€195,594
Investment in fixed assets (net)
-€195,594
Financing
+€97,073
Debts after one year
+€94,728
Current portion of long-term debt
+€12,346
Contributions, distributions and other
-€10,000
Cash 2025
€29,410
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,688,135 | €1,811,505 | +€123,370 | +7.3% |
| Fixed assets | 21/28 | €1,416,476 | €1,526,793 | +€110,317 | +7.8% |
| Tangible fixed assets | 22/27 | €1,415,848 | €1,526,164 | +€110,317 | +7.8% |
| Land and buildings | 22 | €1,413,745 | €1,524,762 | +€111,018 | +7.9% |
| Furniture and vehicles | 24 | €2,103 | €1,402 | -€701 | -33.3% |
| Financial fixed assets | 28 | €629 | €629 | = | 0.0% |
| Current assets | 29/58 | €271,659 | €284,712 | +€13,053 | +4.8% |
| Amounts receivable after more than one year | 29 | €176,722 | €201,922 | +€25,200 | +14.3% |
| Other amounts receivable | 291 | €176,722 | €201,922 | +€25,200 | +14.3% |
| Amounts receivable within one year | 40/41 | €71,000 | €49,480 | -€21,520 | -30.3% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €71,000 | €49,480 | -€21,520 | -30.3% |
| Cash at bank and in hand | 54/58 | €21,407 | €29,410 | +€8,003 | +37.4% |
| Deferred charges and accrued income | 490/1 | €2,530 | €3,900 | +€1,370 | +54.2% |
| Total equity and liabilities | 10/49 | €1,688,135 | €1,811,505 | +€123,370 | +7.3% |
| Equity | 10/15 | €609,338 | €621,370 | +€12,032 | +2.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €547,338 | €559,370 | +€12,032 | +2.2% |
| Non-distributable reserves | 130/1 | €11,081 | €11,081 | = | 0.0% |
| Legal reserve | 130 | €11,081 | €11,081 | = | 0.0% |
| Tax-exempt reserves | 132 | €231,110 | €242,090 | +€10,981 | +4.8% |
| Distributable reserves | 133 | €305,147 | €306,199 | +€1,052 | +0.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €68,165 | €71,825 | +€3,660 | +5.4% |
| Deferred taxes | 168 | €68,165 | €71,825 | +€3,660 | +5.4% |
| Amounts payable | 17/49 | €1,010,632 | €1,118,309 | +€107,677 | +10.7% |
| Amounts payable after more than one year | 17 | €878,507 | €973,235 | +€94,728 | +10.8% |
| Financial debts | 170/4 | €806,175 | €900,540 | +€94,365 | +11.7% |
| Other amounts payable | 178/9 | €72,332 | €72,695 | +€362 | +0.5% |
| Amounts payable within one year | 42/48 | €129,778 | €143,106 | +€13,328 | +10.3% |
| Current portion of amounts payable after more than one year | 42 | €82,519 | €94,865 | +€12,346 | +15.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €9,364 | €13,762 | +€4,398 | +47.0% |
| Suppliers | 440/4 | €9,364 | €13,762 | +€4,398 | +47.0% |
| Taxes, remuneration and social security | 45 | €7,151 | €3,736 | -€3,415 | -47.8% |
| Taxes | 450/3 | €7,151 | €3,736 | -€3,415 | -47.8% |
| Other amounts payable | 47/48 | €30,743 | €30,743 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €2,347 | €1,968 | -€379 | -16.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,001 | €85,278 | -€5,724 | -6.3% |
| Other operating charges | 640/8 | €26,286 | €28,070 | +€1,784 | +6.8% |
| Gross operating margin | 9900 | €142,665 | €162,275 | +€19,609 | +13.7% |
| Operating profit (loss) | 9901 | €25,378 | €48,927 | +€23,549 | +92.8% |
| Financial income | 75/76B | €67 | €41 | -€27 | -39.5% |
| Recurring financial income | 75 | €67 | €41 | -€27 | -39.5% |
| Financial charges | 65/66B | €16,343 | €22,893 | +€6,550 | +40.1% |
| Recurring financial charges | 65 | €16,343 | €22,893 | +€6,550 | +40.1% |
| Profit (loss) for the period before taxes | 9903 | €9,102 | €26,075 | +€16,973 | +186% |
| Transfer from deferred taxes | 780 | €3,309 | €3,741 | +€432 | +13.0% |
| Transfer to deferred taxes | 680 | - | €7,401 | +€7,401 | |
| Income taxes | 67/77 | €3,362 | €382 | -€2,980 | -88.6% |
| Profit (loss) for the period | 9904 | €9,049 | €22,032 | +€12,984 | +143% |
| Transfer from tax-exempt reserves | 789 | €9,928 | €11,223 | +€1,295 | +13.0% |
| Transfer to tax-exempt reserves | 689 | - | €22,203 | +€22,203 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,976 | €11,052 | -€7,925 | -41.8% |
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 18 October 2026 via checked.be.