DEVAN HOLDING: 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 HOLDING
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€106,230
2024 · -€292,135+€185,905
Equity
€12.8m
2024 · €12.9m-€106,230
Cash
€58,638
2024 · €125,043-€66,405
Balance sheet total
€18.5m
2024 · €18.7m-€267,728
Largest movements
Assets
- Receivables after one year -€267,000
down €267,000 (-12.6%), from €2.1m to €1.9m
Equity and liabilities
- Tax, wage and social debts -€196,893
down €196,893 (-94.7%), from €207,845 to €10,952
Income statement
- Gross operating margin -€473,745
down €473,745, from €176,104 to -€297,641
- Financial income +€336,151
up €336,151 (+103%), from €325,984 to €662,135
of which Financial income: +€321,476
- Financial charges -€297,841
down €297,841 (-51.5%), from €578,399 to €280,558
of which Financial charges: -€324,538
- Depreciation -€31,923
down €31,923 (-14.9%), from €213,892 to €181,969
- Other operating charges +€6,367
up €6,367 (+505%), from €1,261 to €7,628
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
-€292,135
Gross operating margin
-€473,745
Depreciation
+€31,923
Other operating charges
-€6,367
Financial income
+€336,151
Financial charges
+€297,841
Taxes
+€102
Result 2025
-€106,230
raises the resultlowers the result
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
+€95,920
Investment
-€152,574
Financing
-€9,751
Cash 2024
€125,043
From operations (derived)
+€95,920
Net result for the year
-€106,230
Depreciation
+€181,969
Receivables after one year
+€267,000
Receivables within one year
-€47,586
Deferred charges and accrued income
-€47,485
Trade debts
-€82,754
Tax, wage and social debts
-€196,893
Other debts
+€110,902
Accrued charges and deferred income
+€16,997
Investment (derived)
-€152,574
Investment in fixed assets (net)
-€63,141
Current investments
-€89,434
Financing
-€9,751
Debts after one year
+€119,313
Current portion of long-term debt
+€2,902
Short-term financial debts
-€131,966
Cash 2025
€58,638
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €18,726,728 | €18,459,000 | -€267,728 | -1.4% |
| Fixed assets | 21/28 | €10,714,633 | €10,595,805 | -€118,828 | -1.1% |
| Tangible fixed assets | 22/27 | €6,841,683 | €6,672,402 | -€169,281 | -2.5% |
| Land and buildings | 22 | €6,531,544 | €6,357,747 | -€173,797 | -2.7% |
| Furniture and vehicles | 24 | €218,057 | €222,573 | +€4,516 | +2.1% |
| Other tangible fixed assets | 26 | €92,082 | €92,082 | = | 0.0% |
| Financial fixed assets | 28 | €3,872,950 | €3,923,402 | +€50,453 | +1.3% |
| Current assets | 29/58 | €8,012,096 | €7,863,195 | -€148,900 | -1.9% |
| Amounts receivable after more than one year | 29 | €2,118,225 | €1,851,225 | -€267,000 | -12.6% |
| Other amounts receivable | 291 | €2,118,225 | €1,851,225 | -€267,000 | -12.6% |
| Amounts receivable within one year | 40/41 | €4,632,129 | €4,679,715 | +€47,586 | +1.0% |
| Trade receivables | 40 | €374,530 | €234,640 | -€139,890 | -37.4% |
| Other amounts receivable | 41 | €4,257,599 | €4,445,075 | +€187,476 | +4.4% |
| Current investments | 50/53 | €1,026,174 | €1,115,607 | +€89,434 | +8.7% |
| Cash at bank and in hand | 54/58 | €125,043 | €58,638 | -€66,405 | -53.1% |
| Deferred charges and accrued income | 490/1 | €110,525 | €158,010 | +€47,485 | +43.0% |
| Total equity and liabilities | 10/49 | €18,726,728 | €18,459,000 | -€267,728 | -1.4% |
| Equity | 10/15 | €12,866,140 | €12,759,910 | -€106,230 | -0.8% |
| Contributions | 10/11 | €2,140,000 | €2,140,000 | = | 0.0% |
| Reserves | 13 | €800,000 | €800,000 | = | 0.0% |
| Distributable reserves | 133 | €800,000 | €800,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,926,140 | €9,819,910 | -€106,230 | -1.1% |
| Amounts payable | 17/49 | €5,860,588 | €5,699,089 | -€161,499 | -2.8% |
| Amounts payable after more than one year | 17 | €3,509,084 | €3,628,397 | +€119,313 | +3.4% |
| Financial debts | 170/4 | €3,509,084 | €3,628,397 | +€119,313 | +3.4% |
| Amounts payable within one year | 42/48 | €2,314,611 | €2,016,801 | -€297,809 | -12.9% |
| Current portion of amounts payable after more than one year | 42 | €377,785 | €380,687 | +€2,902 | +0.8% |
| Financial debts | 43 | €1,029,417 | €897,452 | -€131,966 | -12.8% |
| Credit institutions | 430/8 | €1,029,417 | €897,452 | -€131,966 | -12.8% |
| Trade debts | 44 | €100,325 | €17,571 | -€82,754 | -82.5% |
| Suppliers | 440/4 | €100,325 | €17,571 | -€82,754 | -82.5% |
| Taxes, remuneration and social security | 45 | €207,845 | €10,952 | -€196,893 | -94.7% |
| Taxes | 450/3 | €207,845 | €10,952 | -€196,893 | -94.7% |
| Other amounts payable | 47/48 | €599,238 | €710,140 | +€110,902 | +18.5% |
| Accrued charges and deferred income | 492/3 | €36,893 | €53,891 | +€16,997 | +46.1% |
| Non-recurring operating income | 76A | €2,112 | €3,875 | +€1,763 | +83.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €213,892 | €181,969 | -€31,923 | -14.9% |
| Other operating charges | 640/8 | €1,261 | €7,628 | +€6,367 | +505% |
| Gross operating margin | 9900 | €176,104 | -€297,641 | -€473,745 | |
| Operating profit (loss) | 9901 | -€39,048 | -€487,238 | -€448,189 | -1,148% |
| Financial income | 75/76B | €325,984 | €662,135 | +€336,151 | +103% |
| Recurring financial income | 75 | €325,984 | €647,460 | +€321,476 | +98.6% |
| Non-recurring financial income | 76B | €0 | €14,675 | +€14,675 | |
| Financial charges | 65/66B | €578,399 | €280,558 | -€297,841 | -51.5% |
| Recurring financial charges | 65 | €578,399 | €253,861 | -€324,538 | -56.1% |
| Non-recurring financial charges | 66B | €0 | €26,697 | +€26,697 | |
| Profit (loss) for the period before taxes | 9903 | -€291,464 | -€105,661 | +€185,803 | +63.7% |
| Income taxes | 67/77 | €671 | €569 | -€102 | -15.2% |
| Profit (loss) for the period | 9904 | -€292,135 | -€106,230 | +€185,905 | +63.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€292,135 | -€106,230 | +€185,905 | +63.6% |
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 26 October 2026 via checked.be.