DEVATH: 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.
DEVATH
Largest movements
- Cash -€126,293
down €126,293 (-78.4%), from €161,050 to €34,757
mainly Net result for the year (-€52,973) and Stocks and contracts (-€39,363)
- Stocks and contracts +€39,363
up €39,363 (+28.6%), from €137,808 to €177,171
- Tangible fixed assets -€18,494
down €18,494 (-19.1%), from €96,623 to €78,129
of which Plant, machinery and equipment: -€10,006
- Profit (loss) carried forward -€52,973
new in 2025: -€52,973
- Debts after one year -€34,375
down €34,375 (-71.4%), from €48,125 to €13,750
- Reserves -€9,481
down €9,481 (-3.5%), from €273,669 to €264,188
of which Distributable reserves: -€9,481
- Trade debts -€6,490
down €6,490 (-16.2%), from €40,140 to €33,650
- Staff costs +€34,318
up €34,318 (+21.6%), from €159,052 to €193,371
- Financial income -€31,522
down €31,522 (-94.6%), from €33,319 to €1,797
- Gross operating margin -€30,859
down €30,859 (-15.5%), from €199,014 to €168,155
- Taxes -€14,700
no longer reported in 2025 (was €14,700)
From the 31-03-2024 result to the 31-03-2025 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 31-03-2024 and 31-03-2025 balance sheets and the 31-03-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-03-2024 | 31-03-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €436,187 | €331,118 | -€105,069 | -24.1% |
| Fixed assets | 21/28 | €98,123 | €79,629 | -€18,494 | -18.8% |
| Tangible fixed assets | 22/27 | €96,623 | €78,129 | -€18,494 | -19.1% |
| Land and buildings | 22 | €27,768 | €22,502 | -€5,267 | -19.0% |
| Plant, machinery and equipment | 23 | €49,795 | €39,789 | -€10,006 | -20.1% |
| Furniture and vehicles | 24 | €19,059 | €15,838 | -€3,221 | -16.9% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €338,064 | €251,490 | -€86,574 | -25.6% |
| Stocks and contracts in progress | 3 | €137,808 | €177,171 | +€39,363 | +28.6% |
| Stocks | 30/36 | €137,808 | €177,171 | +€39,363 | +28.6% |
| Amounts receivable within one year | 40/41 | €33,324 | €32,825 | -€498 | -1.5% |
| Other amounts receivable | 41 | €33,324 | €32,825 | -€498 | -1.5% |
| Cash at bank and in hand | 54/58 | €161,050 | €34,757 | -€126,293 | -78.4% |
| Deferred charges and accrued income | 490/1 | €5,882 | €6,736 | +€854 | +14.5% |
| Total equity and liabilities | 10/49 | €436,187 | €331,118 | -€105,069 | -24.1% |
| Equity | 10/15 | €343,669 | €281,215 | -€62,454 | -18.2% |
| Contributions | 10/11 | €70,000 | €70,000 | = | 0.0% |
| Reserves | 13 | €273,669 | €264,188 | -€9,481 | -3.5% |
| Non-distributable reserves | 130/1 | €7,000 | €7,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,000 | €7,000 | = | 0.0% |
| Distributable reserves | 133 | €266,669 | €257,188 | -€9,481 | -3.6% |
| Profit (loss) carried forward | 14 | - | -€52,973 | -€52,973 | |
| Amounts payable | 17/49 | €92,518 | €49,903 | -€42,614 | -46.1% |
| Amounts payable after more than one year | 17 | €48,125 | €13,750 | -€34,375 | -71.4% |
| Financial debts | 170/4 | €48,125 | €13,750 | -€34,375 | -71.4% |
| Amounts payable within one year | 42/48 | €44,393 | €36,153 | -€8,239 | -18.6% |
| Financial debts | 43 | €4,253 | - | -€4,253 | |
| Credit institutions | 430/8 | €4,253 | - | -€4,253 | |
| Trade debts | 44 | €40,140 | €33,650 | -€6,490 | -16.2% |
| Suppliers | 440/4 | €40,140 | €33,650 | -€6,490 | -16.2% |
| Other amounts payable | 47/48 | - | €2,503 | +€2,503 | |
| Remuneration, social security and pensions | 62 | €159,052 | €193,371 | +€34,318 | +21.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,155 | €22,792 | -€1,363 | -5.6% |
| Other operating charges | 640/8 | €1,346 | €2,188 | +€841 | +62.5% |
| Gross operating margin | 9900 | €199,014 | €168,155 | -€30,859 | -15.5% |
| Operating profit (loss) | 9901 | €14,461 | -€50,196 | -€64,656 | |
| Financial income | 75/76B | €33,319 | €1,797 | -€31,522 | -94.6% |
| Recurring financial income | 75 | €33,319 | €1,797 | -€31,522 | -94.6% |
| Financial charges | 65/66B | €4,429 | €4,575 | +€146 | +3.3% |
| Recurring financial charges | 65 | €4,429 | €4,575 | +€146 | +3.3% |
| Profit (loss) for the period before taxes | 9903 | €43,351 | -€52,973 | -€96,324 | |
| Income taxes | 67/77 | €14,700 | - | -€14,700 | |
| Profit (loss) for the period | 9904 | €28,651 | -€52,973 | -€81,624 | |
| Profit (loss) for the period to be appropriated | 9905 | €28,651 | -€52,973 | -€81,624 |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.