DEVELTERE: 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.
DEVELTERE
Largest movements
- Stocks and contracts +€159,810
up €159,810 (+11.7%), from €1.4m to €1.5m
- Tangible fixed assets -€48,874
down €48,874 (-14.8%), from €329,903 to €281,029
- Cash -€37,729
down €37,729 (-16.7%), from €226,263 to €188,534
mainly Other debts (-€175,184) and Contributions, distributions and other (-€160,000)
- Receivables within one year +€32,561
up €32,561 (+10.6%), from €308,597 to €341,158
of which Other amounts receivable: +€28,754
- Short-term financial debts +€206,362
up €206,362 (+1016.3%), from €20,305 to €226,667
- Other debts -€175,184
down €175,184 (-52.0%), from €336,668 to €161,484
- Trade debts +€53,307
up €53,307 (+47.7%), from €111,711 to €165,018
- Debts after one year -€43,410
down €43,410 (-16.0%), from €271,835 to €228,426
- Current portion of long-term debt +€40,073
up €40,073 (+20.8%), from €192,907 to €232,981
- Gross operating margin +€26,753
up €26,753 (+3.9%), from €681,608 to €708,360
- Financial income -€26,559
down €26,559 (-65.7%), from €40,443 to €13,884
- Staff costs +€25,614
up €25,614 (+10.6%), from €242,588 to €268,202
- Financial charges +€25,454
up €25,454 (+157.9%), from €16,120 to €41,574
- Taxes -€16,822
down €16,822 (-19.8%), from €84,956 to €68,134
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 | €2,237,351 | €2,343,550 | +€106,199 | +4.7% |
| Fixed assets | 21/28 | €339,935 | €290,032 | -€49,903 | -14.7% |
| Intangible fixed assets | 21 | €10,032 | €9,003 | -€1,029 | -10.3% |
| Tangible fixed assets | 22/27 | €329,903 | €281,029 | -€48,874 | -14.8% |
| Land and buildings | 22 | €44,061 | €21,537 | -€22,525 | -51.1% |
| Plant, machinery and equipment | 23 | €21,316 | €22,893 | +€1,576 | +7.4% |
| Furniture and vehicles | 24 | €94,488 | €78,008 | -€16,480 | -17.4% |
| Leasing and similar rights | 25 | €170,038 | €158,592 | -€11,446 | -6.7% |
| Current assets | 29/58 | €1,897,415 | €2,053,518 | +€156,102 | +8.2% |
| Stocks and contracts in progress | 3 | €1,362,555 | €1,522,365 | +€159,810 | +11.7% |
| Stocks | 30/36 | €1,362,555 | €1,522,365 | +€159,810 | +11.7% |
| Amounts receivable within one year | 40/41 | €308,597 | €341,158 | +€32,561 | +10.6% |
| Trade receivables | 40 | €308,597 | €312,404 | +€3,807 | +1.2% |
| Other amounts receivable | 41 | - | €28,754 | +€28,754 | |
| Current investments | 50/53 | - | €1,461 | +€1,461 | |
| Cash at bank and in hand | 54/58 | €226,263 | €188,534 | -€37,729 | -16.7% |
| Total equity and liabilities | 10/49 | €2,237,351 | €2,343,550 | +€106,199 | +4.7% |
| Equity | 10/15 | €1,274,332 | €1,309,826 | +€35,495 | +2.8% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Reserves | 13 | €1,213,980 | €1,248,480 | +€34,500 | +2.8% |
| Non-distributable reserves | 130/1 | €128,353 | €128,353 | = | 0.0% |
| Reserves not available under the articles | 1311 | €128,353 | €128,353 | = | 0.0% |
| Tax-exempt reserves | 132 | €237,126 | €237,126 | = | 0.0% |
| Distributable reserves | 133 | €848,500 | €883,000 | +€34,500 | +4.1% |
| Profit (loss) carried forward | 14 | €352 | €1,347 | +€995 | +282.8% |
| Amounts payable | 17/49 | €963,019 | €1,033,723 | +€70,704 | +7.3% |
| Amounts payable after more than one year | 17 | €271,835 | €228,426 | -€43,410 | -16.0% |
| Financial debts | 170/4 | €271,835 | €228,426 | -€43,410 | -16.0% |
| Amounts payable within one year | 42/48 | €691,184 | €805,070 | +€113,887 | +16.5% |
| Current portion of amounts payable after more than one year | 42 | €192,907 | €232,981 | +€40,073 | +20.8% |
| Financial debts | 43 | €20,305 | €226,667 | +€206,362 | +1016.3% |
| Credit institutions | 430/8 | €20,305 | €226,667 | +€206,362 | +1016.3% |
| Trade debts | 44 | €111,711 | €165,018 | +€53,307 | +47.7% |
| Suppliers | 440/4 | €111,711 | €165,018 | +€53,307 | +47.7% |
| Taxes, remuneration and social security | 45 | €29,592 | €18,921 | -€10,671 | -36.1% |
| Taxes | 450/3 | €15,743 | - | -€15,743 | |
| Remuneration and social security | 454/9 | €13,849 | €18,921 | +€5,073 | +36.6% |
| Other amounts payable | 47/48 | €336,668 | €161,484 | -€175,184 | -52.0% |
| Accrued charges and deferred income | 492/3 | - | €227 | +€227 | |
| Remuneration, social security and pensions | 62 | €242,588 | €268,202 | +€25,614 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €127,404 | €126,178 | -€1,226 | -1.0% |
| Other operating charges | 640/8 | €16,677 | €22,662 | +€5,985 | +35.9% |
| Gross operating margin | 9900 | €681,608 | €708,360 | +€26,753 | +3.9% |
| Operating profit (loss) | 9901 | €294,939 | €291,318 | -€3,621 | -1.2% |
| Financial income | 75/76B | €40,443 | €13,884 | -€26,559 | -65.7% |
| Recurring financial income | 75 | €40,443 | €13,884 | -€26,559 | -65.7% |
| Financial charges | 65/66B | €16,120 | €41,574 | +€25,454 | +157.9% |
| Recurring financial charges | 65 | €16,120 | €41,574 | +€25,454 | +157.9% |
| Profit (loss) for the period before taxes | 9903 | €319,262 | €263,629 | -€55,633 | -17.4% |
| Income taxes | 67/77 | €84,956 | €68,134 | -€16,822 | -19.8% |
| Profit (loss) for the period | 9904 | €234,306 | €195,495 | -€38,811 | -16.6% |
| Profit (loss) for the period to be appropriated | 9905 | €234,306 | €195,495 | -€38,811 | -16.6% |
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 30 September 2026 via checked.be.