DEVE INVEST: what changed
DEVE INVEST
Largest movements
- Tangible fixed assets +€38,128
up €38,128 (+250%), from €15,227 to €53,355
of which Leasing and similar rights: +€36,590
- Stocks and contracts -€25,697
down €25,697 (-38.7%), from €66,378 to €40,681
- Cash +€17,977
up €17,977 (+63.9%), from €28,151 to €46,128
mainly Stocks and contracts (+€25,697) and Debts after one year (+€25,056)
- Receivables within one year +€3,773
up €3,773 (+592%), from €638 to €4,411
of which Other amounts receivable: +€3,923
- Deferred charges and accrued income +€2,294
up €2,294 (+175%), from €1,312 to €3,606
- Debts after one year +€25,056
new in 2025: €25,056
- Other debts -€10,828
down €10,828 (-15.0%), from €72,249 to €61,421
- Current portion of long-term debt +€10,758
new in 2025: €10,758
- Tax, wage and social debts +€6,870
up €6,870 (+43.2%), from €15,918 to €22,788
of which Taxes: +€5,544
- Reserves +€5,732
up €5,732 (+27.0%), from €21,197 to €26,929
- Gross operating margin -€6,292
down €6,292 (-30.9%), from €20,378 to €14,086
- Taxes -€2,869
down €2,869 (-55.8%), from €5,147 to €2,277
- Depreciation +€2,392
up €2,392 (+133%), from €1,794 to €4,186
- Financial charges +€880
up €880 (+121%), from €728 to €1,608
- Financial income -€561
down €561 (-43.2%), from €1,299 to €738
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €114,525 | €151,541 | +€37,015 | +32.3% |
| Fixed assets | 21/28 | €18,047 | €56,715 | +€38,668 | +214% |
| Intangible fixed assets | 21 | €450 | €990 | +€540 | +120% |
| Tangible fixed assets | 22/27 | €15,227 | €53,355 | +€38,128 | +250% |
| Plant, machinery and equipment | 23 | €377 | €1,779 | +€1,402 | +372% |
| Furniture and vehicles | 24 | - | €1,787 | +€1,787 | |
| Leasing and similar rights | 25 | - | €36,590 | +€36,590 | |
| Other tangible fixed assets | 26 | €14,850 | €13,200 | -€1,650 | -11.1% |
| Financial fixed assets | 28 | €2,370 | €2,370 | = | 0.0% |
| Current assets | 29/58 | €96,478 | €94,825 | -€1,653 | -1.7% |
| Stocks and contracts in progress | 3 | €66,378 | €40,681 | -€25,697 | -38.7% |
| Stocks | 30/36 | €66,378 | €40,681 | -€25,697 | -38.7% |
| Amounts receivable within one year | 40/41 | €638 | €4,411 | +€3,773 | +592% |
| Trade receivables | 40 | €150 | - | -€150 | |
| Other amounts receivable | 41 | €488 | €4,411 | +€3,923 | +804% |
| Cash at bank and in hand | 54/58 | €28,151 | €46,128 | +€17,977 | +63.9% |
| Deferred charges and accrued income | 490/1 | €1,312 | €3,606 | +€2,294 | +175% |
| Total equity and liabilities | 10/49 | €114,525 | €151,541 | +€37,015 | +32.3% |
| Equity | 10/15 | €23,197 | €28,929 | +€5,732 | +24.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €21,197 | €26,929 | +€5,732 | +27.0% |
| Distributable reserves | 133 | €21,197 | €26,929 | +€5,732 | +27.0% |
| Amounts payable | 17/49 | €91,328 | €122,612 | +€31,284 | +34.3% |
| Amounts payable after more than one year | 17 | - | €25,056 | +€25,056 | |
| Financial debts | 170/4 | - | €25,056 | +€25,056 | |
| Amounts payable within one year | 42/48 | €91,328 | €97,555 | +€6,227 | +6.8% |
| Current portion of amounts payable after more than one year | 42 | - | €10,758 | +€10,758 | |
| Trade debts | 44 | €3,161 | €2,588 | -€573 | -18.1% |
| Suppliers | 440/4 | €3,161 | €2,588 | -€573 | -18.1% |
| Taxes, remuneration and social security | 45 | €15,918 | €22,788 | +€6,870 | +43.2% |
| Taxes | 450/3 | €15,918 | €21,462 | +€5,544 | +34.8% |
| Remuneration and social security | 454/9 | - | €1,326 | +€1,326 | |
| Other amounts payable | 47/48 | €72,249 | €61,421 | -€10,828 | -15.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,794 | €4,186 | +€2,392 | +133% |
| Other operating charges | 640/8 | €628 | €1,021 | +€392 | +62.4% |
| Gross operating margin | 9900 | €20,378 | €14,086 | -€6,292 | -30.9% |
| Operating profit (loss) | 9901 | €17,955 | €8,879 | -€9,076 | -50.5% |
| Financial income | 75/76B | €1,299 | €738 | -€561 | -43.2% |
| Recurring financial income | 75 | €1,299 | €738 | -€561 | -43.2% |
| Financial charges | 65/66B | €728 | €1,608 | +€880 | +121% |
| Recurring financial charges | 65 | €728 | €1,608 | +€880 | +121% |
| Profit (loss) for the period before taxes | 9903 | €18,527 | €8,009 | -€10,517 | -56.8% |
| Income taxes | 67/77 | €5,147 | €2,277 | -€2,869 | -55.8% |
| Profit (loss) for the period | 9904 | €13,380 | €5,732 | -€7,648 | -57.2% |
| Profit (loss) for the period to be appropriated | 9905 | €13,380 | €5,732 | -€7,648 | -57.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.