DEVISCH-INVEST: 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.
DEVISCH-INVEST
Largest movements
- Stocks and contracts -€985,923
down €985,923 (-100%), from €985,923 to €0
- Tangible fixed assets +€530,454
up €530,454 (+33.7%), from €1.6m to €2.1m
of which Land and buildings: +€578,171
- Receivables within one year +€374,871
up €374,871 (+428%), from €87,593 to €462,464
of which Other amounts receivable: +€320,907
- Short-term financial debts -€689,453
down €689,453 (-86.6%), from €796,000 to €106,547
- Other debts +€345,451
up €345,451 (+153%), from €225,933 to €571,384
- Debts after one year +€177,227
up €177,227 (+15.0%), from €1.2m to €1.4m
- Trade debts +€59,529
up €59,529 (+17,234%), from €345 to €59,874
- Accrued charges and deferred income -€30,030
down €30,030 (-64.0%), from €46,901 to €16,871
- Write-downs -€61,043
down €61,043, from €0 to -€61,043
- Depreciation +€45,504
up €45,504 (+36.3%), from €125,439 to €170,943
- Gross operating margin +€33,425
up €33,425 (+16.6%), from €200,843 to €234,268
- Financial charges -€23,396
down €23,396 (-30.5%), from €76,721 to €53,325
- Taxes +€8,194
up €8,194 (+2,229%), from €368 to €8,561
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.
Derived cash bridge
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 | €2,658,560 | €2,586,538 | -€72,022 | -2.7% |
| Fixed assets | 21/28 | €1,578,397 | €2,108,851 | +€530,454 | +33.6% |
| Tangible fixed assets | 22/27 | €1,575,897 | €2,106,351 | +€530,454 | +33.7% |
| Land and buildings | 22 | €1,238,734 | €1,816,905 | +€578,171 | +46.7% |
| Plant, machinery and equipment | 23 | €337,163 | €289,446 | -€47,717 | -14.2% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €1,080,163 | €477,687 | -€602,476 | -55.8% |
| Stocks and contracts in progress | 3 | €985,923 | €0 | -€985,923 | -100% |
| Stocks | 30/36 | €985,923 | €0 | -€985,923 | -100% |
| Amounts receivable within one year | 40/41 | €87,593 | €462,464 | +€374,871 | +428% |
| Trade receivables | 40 | €87,410 | €141,373 | +€53,964 | +61.7% |
| Other amounts receivable | 41 | €183 | €321,090 | +€320,907 | +175,168% |
| Cash at bank and in hand | 54/58 | €6,647 | €15,223 | +€8,576 | +129% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €2,658,560 | €2,586,538 | -€72,022 | -2.7% |
| Equity | 10/15 | €249,990 | €290,779 | +€40,789 | +16.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €260,828 | €278,379 | +€17,551 | +6.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €25,239 | €23,334 | -€1,905 | -7.5% |
| Distributable reserves | 133 | €235,589 | €255,045 | +€19,456 | +8.3% |
| Profit (loss) carried forward | 14 | -€23,238 | €0 | +€23,238 | |
| Provisions and deferred taxes | 16 | €6,310 | €5,834 | -€476 | -7.5% |
| Deferred taxes | 168 | €6,310 | €5,834 | -€476 | -7.5% |
| Amounts payable | 17/49 | €2,402,260 | €2,289,925 | -€112,336 | -4.7% |
| Amounts payable after more than one year | 17 | €1,184,050 | €1,361,277 | +€177,227 | +15.0% |
| Financial debts | 170/4 | €1,184,050 | €1,361,277 | +€177,227 | +15.0% |
| Amounts payable within one year | 42/48 | €1,171,310 | €911,777 | -€259,533 | -22.2% |
| Current portion of amounts payable after more than one year | 42 | €145,664 | €165,566 | +€19,903 | +13.7% |
| Financial debts | 43 | €796,000 | €106,547 | -€689,453 | -86.6% |
| Credit institutions | 430/8 | €796,000 | €106,547 | -€689,453 | -86.6% |
| Trade debts | 44 | €345 | €59,874 | +€59,529 | +17,234% |
| Suppliers | 440/4 | €345 | €59,874 | +€59,529 | +17,234% |
| Taxes, remuneration and social security | 45 | €3,368 | €8,405 | +€5,037 | +150% |
| Taxes | 450/3 | €3,368 | €2,985 | -€383 | -11.4% |
| Remuneration and social security | 454/9 | - | €5,420 | +€5,420 | |
| Other amounts payable | 47/48 | €225,933 | €571,384 | +€345,451 | +153% |
| Accrued charges and deferred income | 492/3 | €46,901 | €16,871 | -€30,030 | -64.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €125,439 | €170,943 | +€45,504 | +36.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€61,043 | -€61,043 | |
| Other operating charges | 640/8 | €23,935 | €22,880 | -€1,055 | -4.4% |
| Gross operating margin | 9900 | €200,843 | €234,268 | +€33,425 | +16.6% |
| Operating profit (loss) | 9901 | €51,469 | €101,489 | +€50,020 | +97.2% |
| Financial income | 75/76B | €0 | €710 | +€710 | +7,104,700% |
| Recurring financial income | 75 | €0 | €710 | +€710 | +7,104,700% |
| Financial charges | 65/66B | €76,721 | €53,325 | -€23,396 | -30.5% |
| Recurring financial charges | 65 | €76,721 | €53,325 | -€23,396 | -30.5% |
| Profit (loss) for the period before taxes | 9903 | -€25,252 | €48,874 | +€74,126 | |
| Transfer from deferred taxes | 780 | €476 | €476 | = | 0.0% |
| Income taxes | 67/77 | €368 | €8,561 | +€8,194 | +2,229% |
| Profit (loss) for the period | 9904 | -€25,143 | €40,789 | +€65,933 | |
| Transfer from tax-exempt reserves | 789 | €1,905 | €1,905 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,238 | €42,694 | +€65,933 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.