DEVAR: 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.
DEVAR
Largest movements
- Current investments +€300,000
up €300,000 (+75.0%), from €400,000 to €700,000
- Tangible fixed assets -€126,181
down €126,181 (-11.7%), from €1.1m to €956,366
of which Land and buildings: -€107,554
- Stocks and contracts +€77,316
up €77,316 (+17.5%), from €440,872 to €518,188
- Receivables within one year -€47,371
down €47,371 (-28.1%), from €168,492 to €121,121
of which Trade receivables: -€47,371
- Cash +€34,237
up €34,237 (+24.6%), from €138,938 to €173,175
mainly Net result for the year (+€293,639) and Depreciation (+€135,676)
- Reserves +€293,639
up €293,639 (+30.1%), from €974,789 to €1.3m
of which Distributable reserves: +€301,744
- Trade debts -€94,044
down €94,044 (-73.3%), from €128,372 to €34,328
- Accrued charges and deferred income +€40,019
up €40,019 (+47.5%), from €84,304 to €124,323
- Gross operating margin +€154,813
up €154,813 (+39.1%), from €395,960 to €550,773
- Taxes +€44,613
up €44,613 (+79.9%), from €55,840 to €100,453
- Write-downs -€16,894
down €16,894, from €8,848 to -€8,045
- Financial charges +€9,302
up €9,302 (+35.3%), from €26,375 to €35,677
- Depreciation -€5,643
down €5,643 (-4.0%), from €141,319 to €135,676
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 | €2,245,017 | €2,482,250 | +€237,234 | +10.6% |
| Fixed assets | 21/28 | €1,082,610 | €956,428 | -€126,181 | -11.7% |
| Tangible fixed assets | 22/27 | €1,082,547 | €956,366 | -€126,181 | -11.7% |
| Land and buildings | 22 | €956,084 | €848,530 | -€107,554 | -11.2% |
| Plant, machinery and equipment | 23 | €126,463 | €107,836 | -€18,627 | -14.7% |
| Financial fixed assets | 28 | €63 | €63 | = | 0.0% |
| Current assets | 29/58 | €1,162,407 | €1,525,822 | +€363,415 | +31.3% |
| Stocks and contracts in progress | 3 | €440,872 | €518,188 | +€77,316 | +17.5% |
| Stocks | 30/36 | €440,872 | €518,188 | +€77,316 | +17.5% |
| Amounts receivable within one year | 40/41 | €168,492 | €121,121 | -€47,371 | -28.1% |
| Trade receivables | 40 | €168,492 | €121,121 | -€47,371 | -28.1% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €400,000 | €700,000 | +€300,000 | +75.0% |
| Cash at bank and in hand | 54/58 | €138,938 | €173,175 | +€34,237 | +24.6% |
| Deferred charges and accrued income | 490/1 | €14,105 | €13,338 | -€767 | -5.4% |
| Total equity and liabilities | 10/49 | €2,245,017 | €2,482,250 | +€237,234 | +10.6% |
| Equity | 10/15 | €1,538,508 | €1,832,147 | +€293,639 | +19.1% |
| Contributions | 10/11 | €563,719 | €563,719 | = | 0.0% |
| Reserves | 13 | €974,789 | €1,268,428 | +€293,639 | +30.1% |
| Non-distributable reserves | 130/1 | €8,105 | €0 | -€8,105 | -100.0% |
| Reserves not available under the articles | 1311 | €8,105 | €0 | -€8,105 | -100.0% |
| Distributable reserves | 133 | €966,684 | €1,268,428 | +€301,744 | +31.2% |
| Amounts payable | 17/49 | €706,508 | €650,103 | -€56,405 | -8.0% |
| Amounts payable after more than one year | 17 | €2,400 | €2,400 | = | 0.0% |
| Other amounts payable | 178/9 | €2,400 | €2,400 | = | 0.0% |
| Amounts payable within one year | 42/48 | €619,804 | €523,380 | -€96,424 | -15.6% |
| Trade debts | 44 | €128,372 | €34,328 | -€94,044 | -73.3% |
| Suppliers | 440/4 | €128,372 | €34,328 | -€94,044 | -73.3% |
| Taxes, remuneration and social security | 45 | €37,856 | €53,019 | +€15,163 | +40.1% |
| Taxes | 450/3 | €37,856 | €53,019 | +€15,163 | +40.1% |
| Other amounts payable | 47/48 | €453,576 | €436,032 | -€17,543 | -3.9% |
| Accrued charges and deferred income | 492/3 | €84,304 | €124,323 | +€40,019 | +47.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €141,319 | €135,676 | -€5,643 | -4.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €8,848 | -€8,045 | -€16,894 | |
| Other operating charges | 640/8 | €8,066 | €8,790 | +€724 | +9.0% |
| Gross operating margin | 9900 | €395,960 | €550,773 | +€154,813 | +39.1% |
| Operating profit (loss) | 9901 | €237,726 | €414,352 | +€176,626 | +74.3% |
| Financial income | 75/76B | €10,884 | €15,416 | +€4,533 | +41.6% |
| Recurring financial income | 75 | €10,884 | €15,416 | +€4,533 | +41.6% |
| Financial charges | 65/66B | €26,375 | €35,677 | +€9,302 | +35.3% |
| Recurring financial charges | 65 | €26,375 | €35,677 | +€9,302 | +35.3% |
| Profit (loss) for the period before taxes | 9903 | €222,235 | €394,091 | +€171,856 | +77.3% |
| Income taxes | 67/77 | €55,840 | €100,453 | +€44,613 | +79.9% |
| Profit (loss) for the period | 9904 | €166,395 | €293,639 | +€127,244 | +76.5% |
| Profit (loss) for the period to be appropriated | 9905 | €166,395 | €293,639 | +€127,244 | +76.5% |
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 6 October 2026 via checked.be.