Devlieghere-Dusart: 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.
Devlieghere-Dusart
Largest movements
- Receivables after one year +€37,500
up €37,500 (+100%), from €37,500 to €75,000
- Cash -€21,762
down €21,762 (-71.5%), from €30,424 to €8,662
mainly Investment in fixed assets (net) (-€52,197) and Receivables after one year (-€37,500)
- Tangible fixed assets +€6,119
up €6,119 (+2.3%), from €270,251 to €276,370
of which Other tangible fixed assets: +€13,301
- Stocks and contracts +€5,216
up €5,216 (+88.4%), from €5,902 to €11,118
- Reserves +€20,608
up €20,608 (+22.8%), from €90,412 to €111,020
- Current portion of long-term debt +€8,656
up €8,656 (+25.7%), from €33,658 to €42,315
- Debts after one year -€6,879
down €6,879 (-4.2%), from €164,152 to €157,273
- Gross operating margin +€64,729
up €64,729 (+35.3%), from €183,396 to €248,125
- Staff costs +€33,035
up €33,035 (+27.2%), from €121,264 to €154,299
- Taxes +€6,462
up €6,462 (+197%), from €3,286 to €9,748
- Depreciation +€4,685
up €4,685 (+11.3%), from €41,392 to €46,078
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 | €360,774 | €385,507 | +€24,733 | +6.9% |
| Fixed assets | 21/28 | €270,753 | €276,872 | +€6,119 | +2.3% |
| Tangible fixed assets | 22/27 | €270,251 | €276,370 | +€6,119 | +2.3% |
| Land and buildings | 22 | €2,100 | €1,400 | -€700 | -33.3% |
| Plant, machinery and equipment | 23 | €65,505 | €57,849 | -€7,656 | -11.7% |
| Furniture and vehicles | 24 | €1,434 | €2,609 | +€1,175 | +81.9% |
| Other tangible fixed assets | 26 | €201,211 | €214,512 | +€13,301 | +6.6% |
| Financial fixed assets | 28 | €502 | €502 | = | 0.0% |
| Current assets | 29/58 | €90,021 | €108,635 | +€18,614 | +20.7% |
| Amounts receivable after more than one year | 29 | €37,500 | €75,000 | +€37,500 | +100% |
| Trade receivables | 290 | €37,500 | €75,000 | +€37,500 | +100% |
| Stocks and contracts in progress | 3 | €5,902 | €11,118 | +€5,216 | +88.4% |
| Stocks | 30/36 | €5,902 | €11,118 | +€5,216 | +88.4% |
| Amounts receivable within one year | 40/41 | €6,496 | €6,198 | -€297 | -4.6% |
| Trade receivables | 40 | €2,270 | €945 | -€1,325 | -58.4% |
| Other amounts receivable | 41 | €4,226 | €5,253 | +€1,027 | +24.3% |
| Cash at bank and in hand | 54/58 | €30,424 | €8,662 | -€21,762 | -71.5% |
| Deferred charges and accrued income | 490/1 | €9,699 | €7,657 | -€2,043 | -21.1% |
| Total equity and liabilities | 10/49 | €360,774 | €385,507 | +€24,733 | +6.9% |
| Equity | 10/15 | €109,630 | €130,238 | +€20,608 | +18.8% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €90,412 | €111,020 | +€20,608 | +22.8% |
| Distributable reserves | 133 | €90,412 | €111,020 | +€20,608 | +22.8% |
| Profit (loss) carried forward | 14 | €668 | €668 | = | 0.0% |
| Amounts payable | 17/49 | €251,144 | €255,269 | +€4,125 | +1.6% |
| Amounts payable after more than one year | 17 | €164,152 | €157,273 | -€6,879 | -4.2% |
| Financial debts | 170/4 | €164,152 | €157,273 | -€6,879 | -4.2% |
| Amounts payable within one year | 42/48 | €86,992 | €97,996 | +€11,004 | +12.6% |
| Current portion of amounts payable after more than one year | 42 | €33,658 | €42,315 | +€8,656 | +25.7% |
| Trade debts | 44 | €13,746 | €16,783 | +€3,037 | +22.1% |
| Suppliers | 440/4 | €13,746 | €16,783 | +€3,037 | +22.1% |
| Advances received on contracts in progress | 46 | €206 | €206 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €36,162 | €38,273 | +€2,111 | +5.8% |
| Taxes | 450/3 | €30,322 | €34,736 | +€4,413 | +14.6% |
| Remuneration and social security | 454/9 | €5,840 | €3,537 | -€2,302 | -39.4% |
| Other amounts payable | 47/48 | €3,221 | €420 | -€2,801 | -87.0% |
| Remuneration, social security and pensions | 62 | €121,264 | €154,299 | +€33,035 | +27.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,392 | €46,078 | +€4,685 | +11.3% |
| Other operating charges | 640/8 | €2,529 | €4,942 | +€2,413 | +95.4% |
| Non-recurring operating charges | 66A | - | €498 | +€498 | |
| Gross operating margin | 9900 | €183,396 | €248,125 | +€64,729 | +35.3% |
| Operating profit (loss) | 9901 | €18,211 | €42,308 | +€24,097 | +132% |
| Financial income | 75/76B | €50 | €141 | +€91 | +181% |
| Recurring financial income | 75 | €50 | €141 | +€91 | +181% |
| Financial charges | 65/66B | €11,881 | €12,093 | +€212 | +1.8% |
| Recurring financial charges | 65 | €11,881 | €12,093 | +€212 | +1.8% |
| Profit (loss) for the period before taxes | 9903 | €6,380 | €30,356 | +€23,976 | +376% |
| Income taxes | 67/77 | €3,286 | €9,748 | +€6,462 | +197% |
| Profit (loss) for the period | 9904 | €3,094 | €20,608 | +€17,514 | +566% |
| Profit (loss) for the period to be appropriated | 9905 | €3,094 | €20,608 | +€17,514 | +566% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.