DEVELIM: 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.
DEVELIM
Largest movements
- Stocks and contracts -€1.8m
down €1.8m (-38.6%), from €4.6m to €2.8m
- Debts after one year -€2.4m
down €2.4m (-61.4%), from €3.8m to €1.5m
of which Financial debts: -€2.4m
- Reserves +€442,000
up €442,000 (+184.2%), from €240,000 to €682,000
- Tax, wage and social debts +€119,211
up €119,211 (+953.1%), from €12,507 to €131,718
- Gross operating margin +€766,503
up €766,503 (+315.9%), from €242,629 to €1.0m
- Taxes +€196,431
up €196,431 (+1570.5%), from €12,507 to €208,938
- Other operating charges +€77,919
up €77,919 (+176.5%), from €44,145 to €122,063
- Financial charges +€76,831
up €76,831 (+52.8%), from €145,606 to €222,437
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 | €4,783,048 | €2,958,949 | -€1.8m | -38.1% |
| Fixed assets | 21/28 | €4,207 | €406 | -€3,801 | -90.3% |
| Tangible fixed assets | 22/27 | €4,207 | €406 | -€3,801 | -90.3% |
| Furniture and vehicles | 24 | €4,207 | €406 | -€3,801 | -90.3% |
| Current assets | 29/58 | €4,778,841 | €2,958,543 | -€1.8m | -38.1% |
| Stocks and contracts in progress | 3 | €4,584,100 | €2,812,725 | -€1.8m | -38.6% |
| Stocks | 30/36 | €4,584,100 | €2,812,725 | -€1.8m | -38.6% |
| Amounts receivable within one year | 40/41 | €34,577 | €1,907 | -€32,669 | -94.5% |
| Trade receivables | 40 | €24,178 | - | -€24,178 | |
| Other amounts receivable | 41 | €10,399 | €1,907 | -€8,492 | -81.7% |
| Cash at bank and in hand | 54/58 | €157,574 | €141,405 | -€16,169 | -10.3% |
| Deferred charges and accrued income | 490/1 | €2,591 | €2,506 | -€85 | -3.3% |
| Total equity and liabilities | 10/49 | €4,783,048 | €2,958,949 | -€1.8m | -38.1% |
| Equity | 10/15 | €894,094 | €1,336,093 | +€442,000 | +49.4% |
| Contributions | 10/11 | €105,000 | €105,000 | = | 0.0% |
| Reserves | 13 | €240,000 | €682,000 | +€442,000 | +184.2% |
| Distributable reserves | 133 | €240,000 | €682,000 | +€442,000 | +184.2% |
| Profit (loss) carried forward | 14 | €549,094 | €549,094 | = | 0.0% |
| Amounts payable | 17/49 | €3,888,954 | €1,622,856 | -€2.3m | -58.3% |
| Amounts payable after more than one year | 17 | €3,847,201 | €1,484,110 | -€2.4m | -61.4% |
| Financial debts | 170/4 | €3,843,991 | €1,481,000 | -€2.4m | -61.5% |
| Other amounts payable | 178/9 | €3,210 | €3,110 | -€100 | -3.1% |
| Amounts payable within one year | 42/48 | €41,753 | €138,746 | +€96,992 | +232.3% |
| Current portion of amounts payable after more than one year | 42 | €3,595 | €760 | -€2,835 | -78.9% |
| Trade debts | 44 | €25,651 | €6,267 | -€19,384 | -75.6% |
| Suppliers | 440/4 | €25,651 | €6,267 | -€19,384 | -75.6% |
| Taxes, remuneration and social security | 45 | €12,507 | €131,718 | +€119,211 | +953.1% |
| Taxes | 450/3 | €12,507 | €131,718 | +€119,211 | +953.1% |
| Non-recurring operating income | 76A | €1,150 | - | -€1,150 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,801 | €3,801 | = | 0.0% |
| Other operating charges | 640/8 | €44,145 | €122,063 | +€77,919 | +176.5% |
| Non-recurring operating charges | 66A | €5,870 | €9,973 | +€4,103 | +69.9% |
| Gross operating margin | 9900 | €242,629 | €1,009,133 | +€766,503 | +315.9% |
| Operating profit (loss) | 9901 | €188,814 | €873,296 | +€684,482 | +362.5% |
| Financial income | 75/76B | €97 | €78 | -€19 | -19.5% |
| Recurring financial income | 75 | €97 | €78 | -€19 | -19.5% |
| Financial charges | 65/66B | €145,606 | €222,437 | +€76,831 | +52.8% |
| Recurring financial charges | 65 | €145,606 | €222,437 | +€76,831 | +52.8% |
| Profit (loss) for the period before taxes | 9903 | €43,305 | €650,938 | +€607,632 | +1403.1% |
| Income taxes | 67/77 | €12,507 | €208,938 | +€196,431 | +1570.5% |
| Profit (loss) for the period | 9904 | €30,798 | €442,000 | +€411,202 | +1335.2% |
| Profit (loss) for the period to be appropriated | 9905 | €30,798 | €442,000 | +€411,202 | +1335.2% |
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 3 October 2026 via checked.be.