DEVO-INVEST: 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.
DEVO-INVEST
Largest movements
- Tangible fixed assets -€84,066
down €84,066 (-6.4%), from €1.3m to €1.2m
of which Land and buildings: -€42,591
- Cash +€14,341
up €14,341 (+68.3%), from €21,010 to €35,351
mainly Depreciation (+€71,947) and Net result for the year (+€58,690)
- Debts after one year -€93,238
down €93,238 (-13.5%), from €688,215 to €594,977
- Reserves +€58,690
up €58,690 (+25.5%), from €230,566 to €289,256
- Other debts -€22,504
down €22,504 (-24.2%), from €92,902 to €70,398
- Gross operating margin +€37,693
up €37,693 (+25.1%), from €149,980 to €187,673
- Depreciation -€21,048
down €21,048 (-22.6%), from €92,995 to €71,947
- Taxes +€14,310
up €14,310 (+180.6%), from €7,923 to €22,232
- Other operating charges +€4,326
up €4,326 (+175.3%), from €2,467 to €6,793
- Financial charges -€2,539
down €2,539 (-9.6%), from €26,514 to €23,975
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 | €1,398,677 | €1,326,372 | -€72,305 | -5.2% |
| Fixed assets | 21/28 | €1,316,270 | €1,232,204 | -€84,066 | -6.4% |
| Tangible fixed assets | 22/27 | €1,315,770 | €1,231,704 | -€84,066 | -6.4% |
| Land and buildings | 22 | €1,214,592 | €1,172,001 | -€42,591 | -3.5% |
| Furniture and vehicles | 24 | €101,178 | €59,704 | -€41,475 | -41.0% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €82,407 | €94,167 | +€11,761 | +14.3% |
| Amounts receivable within one year | 40/41 | €53,117 | €51,020 | -€2,097 | -3.9% |
| Trade receivables | 40 | €31,040 | €21,020 | -€10,020 | -32.3% |
| Other amounts receivable | 41 | €22,077 | €30,000 | +€7,923 | +35.9% |
| Cash at bank and in hand | 54/58 | €21,010 | €35,351 | +€14,341 | +68.3% |
| Deferred charges and accrued income | 490/1 | €8,280 | €7,797 | -€483 | -5.8% |
| Total equity and liabilities | 10/49 | €1,398,677 | €1,326,372 | -€72,305 | -5.2% |
| Equity | 10/15 | €280,571 | €339,261 | +€58,690 | +20.9% |
| Contributions | 10/11 | €50,005 | €50,005 | = | 0.0% |
| Reserves | 13 | €230,566 | €289,256 | +€58,690 | +25.5% |
| Distributable reserves | 133 | €230,566 | €289,256 | +€58,690 | +25.5% |
| Amounts payable | 17/49 | €1,118,106 | €987,111 | -€130,995 | -11.7% |
| Amounts payable after more than one year | 17 | €688,215 | €594,977 | -€93,238 | -13.5% |
| Financial debts | 170/4 | €688,215 | €594,977 | -€93,238 | -13.5% |
| Amounts payable within one year | 42/48 | €429,891 | €392,134 | -€37,756 | -8.8% |
| Current portion of amounts payable after more than one year | 42 | €97,426 | €93,238 | -€4,187 | -4.3% |
| Financial debts | 43 | €15,000 | €15,000 | = | 0.0% |
| Credit institutions | 430/8 | €15,000 | €15,000 | = | 0.0% |
| Trade debts | 44 | €205,043 | €206,122 | +€1,079 | +0.5% |
| Suppliers | 440/4 | €205,043 | €206,122 | +€1,079 | +0.5% |
| Taxes, remuneration and social security | 45 | €19,520 | €7,376 | -€12,144 | -62.2% |
| Taxes | 450/3 | €7,520 | €7,376 | -€144 | -1.9% |
| Remuneration and social security | 454/9 | €12,000 | €0 | -€12,000 | -100.0% |
| Other amounts payable | 47/48 | €92,902 | €70,398 | -€22,504 | -24.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,995 | €71,947 | -€21,048 | -22.6% |
| Other operating charges | 640/8 | €2,467 | €6,793 | +€4,326 | +175.3% |
| Non-recurring operating charges | 66A | - | €4,035 | +€4,035 | |
| Gross operating margin | 9900 | €149,980 | €187,673 | +€37,693 | +25.1% |
| Operating profit (loss) | 9901 | €54,518 | €104,897 | +€50,380 | +92.4% |
| Financial income | 75/76B | €33 | €0 | -€33 | -100.0% |
| Recurring financial income | 75 | €33 | €0 | -€33 | -100.0% |
| Financial charges | 65/66B | €26,514 | €23,975 | -€2,539 | -9.6% |
| Recurring financial charges | 65 | €26,514 | €23,975 | -€2,539 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €28,037 | €80,922 | +€52,885 | +188.6% |
| Income taxes | 67/77 | €7,923 | €22,232 | +€14,310 | +180.6% |
| Profit (loss) for the period | 9904 | €20,114 | €58,690 | +€38,575 | +191.8% |
| Profit (loss) for the period to be appropriated | 9905 | €20,114 | €58,690 | +€38,575 | +191.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.