DEVLO: 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.
DEVLO
Largest movements
- Tangible fixed assets -€27,045
down €27,045 (-48.6%), from €55,694 to €28,648
of which Land and buildings: -€26,964
- Cash -€18,503
down €18,503 (-49.2%), from €37,599 to €19,096
mainly Contributions, distributions and other (-€150,000) and Investment in fixed assets (net) (-€1,074)
- Receivables within one year -€18,131
down €18,131 (-6.8%), from €268,197 to €250,066
of which Trade receivables: -€11,859
- Reserves -€79,369
down €79,369 (-27.7%), from €287,016 to €207,647
of which Distributable reserves: -€79,369
- Staff costs -€27,990
down €27,990 (-37.1%), from €75,371 to €47,380
- Gross operating margin -€12,775
down €12,775 (-7.5%), from €171,244 to €158,469
- Taxes -€6,114
down €6,114 (-43.5%), from €14,045 to €7,930
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €575,509 | €509,523 | -€65,986 | -11.5% |
| Fixed assets | 21/28 | €56,949 | €29,904 | -€27,045 | -47.5% |
| Tangible fixed assets | 22/27 | €55,694 | €28,648 | -€27,045 | -48.6% |
| Land and buildings | 22 | €51,504 | €24,540 | -€26,964 | -52.4% |
| Plant, machinery and equipment | 23 | €4,190 | €3,232 | -€958 | -22.9% |
| Furniture and vehicles | 24 | - | €876 | +€876 | |
| Financial fixed assets | 28 | €1,256 | €1,256 | = | 0.0% |
| Current assets | 29/58 | €518,559 | €479,619 | -€38,941 | -7.5% |
| Stocks and contracts in progress | 3 | €200,542 | €200,971 | +€430 | +0.2% |
| Stocks | 30/36 | €200,542 | €200,971 | +€430 | +0.2% |
| Amounts receivable within one year | 40/41 | €268,197 | €250,066 | -€18,131 | -6.8% |
| Trade receivables | 40 | €34,564 | €22,706 | -€11,859 | -34.3% |
| Other amounts receivable | 41 | €233,633 | €227,361 | -€6,272 | -2.7% |
| Cash at bank and in hand | 54/58 | €37,599 | €19,096 | -€18,503 | -49.2% |
| Deferred charges and accrued income | 490/1 | €12,222 | €9,485 | -€2,737 | -22.4% |
| Total equity and liabilities | 10/49 | €575,509 | €509,523 | -€65,986 | -11.5% |
| Equity | 10/15 | €387,016 | €307,647 | -€79,369 | -20.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €287,016 | €207,647 | -€79,369 | -27.7% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €277,016 | €197,647 | -€79,369 | -28.7% |
| Amounts payable | 17/49 | €188,493 | €201,875 | +€13,383 | +7.1% |
| Amounts payable within one year | 42/48 | €184,785 | €195,117 | +€10,332 | +5.6% |
| Trade debts | 44 | €155,103 | €159,774 | +€4,671 | +3.0% |
| Suppliers | 440/4 | €155,103 | €159,774 | +€4,671 | +3.0% |
| Taxes, remuneration and social security | 45 | €29,682 | €35,343 | +€5,661 | +19.1% |
| Taxes | 450/3 | €17,015 | €25,875 | +€8,860 | +52.1% |
| Remuneration and social security | 454/9 | €12,667 | €9,468 | -€3,199 | -25.3% |
| Accrued charges and deferred income | 492/3 | €3,708 | €6,758 | +€3,050 | +82.3% |
| Remuneration, social security and pensions | 62 | €75,371 | €47,380 | -€27,990 | -37.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,815 | €28,120 | +€304 | +1.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €213 | -€343 | -€557 | |
| Other operating charges | 640/8 | €3,156 | €3,249 | +€93 | +2.9% |
| Gross operating margin | 9900 | €171,244 | €158,469 | -€12,775 | -7.5% |
| Operating profit (loss) | 9901 | €64,689 | €80,063 | +€15,374 | +23.8% |
| Financial income | 75/76B | €372 | €1,669 | +€1,297 | +349.0% |
| Recurring financial income | 75 | €372 | €1,669 | +€1,297 | +349.0% |
| Financial charges | 65/66B | €3,925 | €3,171 | -€755 | -19.2% |
| Recurring financial charges | 65 | €3,925 | €3,171 | -€755 | -19.2% |
| Profit (loss) for the period before taxes | 9903 | €61,135 | €78,562 | +€17,426 | +28.5% |
| Income taxes | 67/77 | €14,045 | €7,930 | -€6,114 | -43.5% |
| Profit (loss) for the period | 9904 | €47,091 | €70,631 | +€23,541 | +50.0% |
| Profit (loss) for the period to be appropriated | 9905 | €47,091 | €70,631 | +€23,541 | +50.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.