DEVASA: 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.
DEVASA
Largest movements
- Receivables within one year +€46,454
up €46,454 (+116777.1%), from €40 to €46,494
of which Other amounts receivable: +€45,773
- Cash -€33,289
down €33,289 (-51.3%), from €64,878 to €31,589
mainly Receivables within one year (-€46,454) and Investment in fixed assets (net) (-€35,279)
- Tangible fixed assets -€7,917
down €7,917 (-2.1%), from €373,866 to €365,949
of which Furniture and vehicles: -€19,339
- Intangible fixed assets -€5,999
down €5,999 (-45.9%), from €13,083 to €7,084
- Stocks and contracts -€5,293
down €5,293 (-58.0%), from €9,131 to €3,838
- Reserves +€51,699
up €51,699 (+296.1%), from €17,462 to €69,161
- Debts after one year -€32,095
down €32,095 (-13.4%), from €239,343 to €207,248
of which Financial debts: -€31,774
- Other debts -€15,431
down €15,431 (-38.2%), from €40,431 to €25,000
- Tax, wage and social debts -€7,224
down €7,224 (-36.8%), from €19,642 to €12,418
of which Taxes: -€5,850
- Gross operating margin +€24,963
up €24,963 (+11.6%), from €215,205 to €240,168
- Depreciation -€5,171
down €5,171 (-9.5%), from €54,367 to €49,196
- Taxes +€4,537
up €4,537 (+33.9%), from €13,376 to €17,913
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 | €473,976 | €468,355 | -€5,621 | -1.2% |
| Fixed assets | 21/28 | €386,949 | €373,033 | -€13,916 | -3.6% |
| Intangible fixed assets | 21 | €13,083 | €7,084 | -€5,999 | -45.9% |
| Tangible fixed assets | 22/27 | €373,866 | €365,949 | -€7,917 | -2.1% |
| Plant, machinery and equipment | 23 | €112,559 | €102,327 | -€10,232 | -9.1% |
| Furniture and vehicles | 24 | €19,465 | €126 | -€19,339 | -99.4% |
| Leasing and similar rights | 25 | €62,120 | €100,201 | +€38,081 | +61.3% |
| Other tangible fixed assets | 26 | €179,722 | €163,294 | -€16,427 | -9.1% |
| Current assets | 29/58 | €87,027 | €95,322 | +€8,295 | +9.5% |
| Stocks and contracts in progress | 3 | €9,131 | €3,838 | -€5,293 | -58.0% |
| Stocks | 30/36 | €9,131 | €3,838 | -€5,293 | -58.0% |
| Amounts receivable within one year | 40/41 | €40 | €46,494 | +€46,454 | +116777.1% |
| Trade receivables | 40 | €0 | €681 | +€681 | |
| Other amounts receivable | 41 | €40 | €45,813 | +€45,773 | +115065.0% |
| Current investments | 50/53 | €10,493 | €10,679 | +€186 | +1.8% |
| Cash at bank and in hand | 54/58 | €64,878 | €31,589 | -€33,289 | -51.3% |
| Deferred charges and accrued income | 490/1 | €2,485 | €2,722 | +€237 | +9.5% |
| Total equity and liabilities | 10/49 | €473,976 | €468,355 | -€5,621 | -1.2% |
| Equity | 10/15 | €97,462 | €149,161 | +€51,699 | +53.0% |
| Contributions | 10/11 | €80,000 | €80,000 | = | 0.0% |
| Reserves | 13 | €17,462 | €69,161 | +€51,699 | +296.1% |
| Distributable reserves | 133 | €17,462 | €69,161 | +€51,699 | +296.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €376,515 | €319,194 | -€57,321 | -15.2% |
| Amounts payable after more than one year | 17 | €239,343 | €207,248 | -€32,095 | -13.4% |
| Financial debts | 170/4 | €238,920 | €207,146 | -€31,774 | -13.3% |
| Other amounts payable | 178/9 | €422 | €102 | -€321 | -76.0% |
| Amounts payable within one year | 42/48 | €135,976 | €110,688 | -€25,288 | -18.6% |
| Current portion of amounts payable after more than one year | 42 | €70,405 | €66,705 | -€3,700 | -5.3% |
| Financial debts | 43 | €556 | €0 | -€556 | -100.0% |
| Credit institutions | 430/8 | €556 | €0 | -€556 | -100.0% |
| Trade debts | 44 | €4,942 | €6,564 | +€1,622 | +32.8% |
| Suppliers | 440/4 | €4,942 | €6,564 | +€1,622 | +32.8% |
| Taxes, remuneration and social security | 45 | €19,642 | €12,418 | -€7,224 | -36.8% |
| Taxes | 450/3 | €11,763 | €5,913 | -€5,850 | -49.7% |
| Remuneration and social security | 454/9 | €7,879 | €6,505 | -€1,374 | -17.4% |
| Other amounts payable | 47/48 | €40,431 | €25,000 | -€15,431 | -38.2% |
| Accrued charges and deferred income | 492/3 | €1,196 | €1,258 | +€62 | +5.2% |
| Remuneration, social security and pensions | 62 | €66,379 | €66,416 | +€36 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,367 | €49,196 | -€5,171 | -9.5% |
| Other operating charges | 640/8 | €5,402 | €5,939 | +€537 | +9.9% |
| Non-recurring operating charges | 66A | €7,518 | €5,126 | -€2,392 | -31.8% |
| Gross operating margin | 9900 | €215,205 | €240,168 | +€24,963 | +11.6% |
| Operating profit (loss) | 9901 | €81,540 | €113,492 | +€31,952 | +39.2% |
| Financial income | 75/76B | €224 | €1,014 | +€789 | +352.0% |
| Recurring financial income | 75 | €224 | €1,014 | +€789 | +352.0% |
| Financial charges | 65/66B | €20,822 | €19,894 | -€928 | -4.5% |
| Recurring financial charges | 65 | €20,822 | €19,894 | -€928 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | €60,942 | €94,612 | +€33,670 | +55.2% |
| Income taxes | 67/77 | €13,376 | €17,913 | +€4,537 | +33.9% |
| Profit (loss) for the period | 9904 | €47,566 | €76,699 | +€29,133 | +61.2% |
| Profit (loss) for the period to be appropriated | 9905 | €47,566 | €76,699 | +€29,133 | +61.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.