DEVCOM: 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.
DEVCOM
Largest movements
- Tangible fixed assets +€109,559
up €109,559 (+117.5%), from €93,204 to €202,763
of which Land and buildings: +€130,918
- Cash +€7,610
up €7,610 (+553.0%), from €1,376 to €8,986
- Receivables within one year +€3,405
up €3,405 (+114.9%), from €2,964 to €6,369
of which Other amounts receivable: +€2,699
- Debts after one year +€125,418
new in 2025: €125,418
- Other debts -€25,326
no longer reported in 2025 (was €25,326)
- Tax, wage and social debts +€11,155
up €11,155 (+102.0%), from €10,932 to €22,087
of which Remuneration and social security: +€19,812
- Profit (loss) carried forward +€9,620
up €9,620 (+26.6%), from €36,203 to €45,823
- Trade debts -€4,324
down €4,324 (-78.8%), from €5,487 to €1,163
- Purchases and services -€4,136
down €4,136 (-10.1%), from €40,896 to €36,760
- Financial charges +€3,574
up €3,574 (+646.5%), from €553 to €4,127
of which Financial charges: +€3,232
- Turnover -€3,034
down €3,034 (-5.3%), from €57,315 to €54,281
- Gross operating margin +€2,429
up €2,429 (+14.8%), from €16,419 to €18,848
- Depreciation +€1,231
up €1,231 (+10.5%), from €11,752 to €12,983
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €98,408 | €218,230 | +€119,823 | +121.8% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €93,384 | €202,763 | +€109,379 | +117.1% |
| Tangible fixed assets | 22/27 | €93,204 | €202,763 | +€109,559 | +117.5% |
| Land and buildings | 22 | - | €130,918 | +€130,918 | |
| Plant, machinery and equipment | 23 | €71,726 | €55,915 | -€15,811 | -22.0% |
| Furniture and vehicles | 24 | €289 | €158 | -€132 | -45.5% |
| Other tangible fixed assets | 26 | €21,188 | €15,772 | -€5,416 | -25.6% |
| Financial fixed assets | 28 | €180 | - | -€180 | |
| Current assets | 29/58 | €5,024 | €15,468 | +€10,444 | +207.9% |
| Stocks and contracts in progress | 3 | €183 | €113 | -€70 | -38.4% |
| Stocks | 30/36 | €183 | €113 | -€70 | -38.4% |
| Amounts receivable within one year | 40/41 | €2,964 | €6,369 | +€3,405 | +114.9% |
| Trade receivables | 40 | €2,964 | €3,670 | +€706 | +23.8% |
| Other amounts receivable | 41 | - | €2,699 | +€2,699 | |
| Cash at bank and in hand | 54/58 | €1,376 | €8,986 | +€7,610 | +553.0% |
| Deferred charges and accrued income | 490/1 | €500 | €0 | -€500 | -100.0% |
| Total equity and liabilities | 10/49 | €98,408 | €218,230 | +€119,823 | +121.8% |
| Equity | 10/15 | €56,663 | €66,283 | +€9,620 | +17.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €36,203 | €45,823 | +€9,620 | +26.6% |
| Amounts payable | 17/49 | €41,745 | €151,947 | +€110,202 | +264.0% |
| Amounts payable after more than one year | 17 | - | €125,418 | +€125,418 | |
| Financial debts | 170/4 | - | €125,418 | +€125,418 | |
| Amounts payable within one year | 42/48 | €41,745 | €26,529 | -€15,216 | -36.5% |
| Current portion of amounts payable after more than one year | 42 | - | €3,279 | +€3,279 | |
| Trade debts | 44 | €5,487 | €1,163 | -€4,324 | -78.8% |
| Suppliers | 440/4 | €5,487 | €1,163 | -€4,324 | -78.8% |
| Taxes, remuneration and social security | 45 | €10,932 | €22,087 | +€11,155 | +102.0% |
| Taxes | 450/3 | €10,932 | €2,274 | -€8,658 | -79.2% |
| Remuneration and social security | 454/9 | - | €19,812 | +€19,812 | |
| Other amounts payable | 47/48 | €25,326 | - | -€25,326 | |
| Turnover | 70 | €57,315 | €54,281 | -€3,034 | -5.3% |
| Non-recurring operating income | 76A | - | €1,327 | +€1,327 | |
| Goods, raw materials, services and sundry goods | 60/61 | €40,896 | €36,760 | -€4,136 | -10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,752 | €12,983 | +€1,231 | +10.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,209 | - | -€1,209 | |
| Other operating charges | 640/8 | - | €679 | +€679 | |
| Gross operating margin | 9900 | €16,419 | €18,848 | +€2,429 | +14.8% |
| Operating profit (loss) | 9901 | €3,458 | €5,187 | +€1,728 | +50.0% |
| Financial income | 75/76B | €3 | €0 | -€3 | -96.6% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -96.6% |
| Non-recurring financial income | 76B | €3 | €0 | -€3 | -96.6% |
| Financial charges | 65/66B | €553 | €4,127 | +€3,574 | +646.5% |
| Recurring financial charges | 65 | €404 | €3,635 | +€3,232 | +800.8% |
| Non-recurring financial charges | 66B | €149 | €492 | +€343 | +229.5% |
| Profit (loss) for the period before taxes | 9903 | €2,909 | €1,060 | -€1,849 | -63.6% |
| Income taxes | 67/77 | €639 | €426 | -€213 | -33.3% |
| Profit (loss) for the period | 9904 | €2,270 | €634 | -€1,636 | -72.1% |
| Profit (loss) for the period to be appropriated | 9905 | €2,270 | €634 | -€1,636 | -72.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.