DEVOLIN: 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.
DEVOLIN
Largest movements
- Current investments +€267,999
up €267,999 (+247.3%), from €108,374 to €376,373
- Deferred charges and accrued income +€37,129
up €37,129 (+2215.4%), from €1,676 to €38,805
- Stocks and contracts -€37,100
down €37,100 (-41.1%), from €90,200 to €53,100
- Tangible fixed assets -€24,267
down €24,267 (-10.1%), from €239,364 to €215,097
of which Plant, machinery and equipment: -€28,348
- Receivables within one year +€18,630
up €18,630 (+64.2%), from €29,033 to €47,663
of which Trade receivables: +€25,007
- Reserves +€162,248
up €162,248 (+47.0%), from €345,279 to €507,527
- Tax, wage and social debts +€45,553
up €45,553 (+1377.5%), from €3,307 to €48,860
of which Taxes: +€45,553
- Accrued charges and deferred income +€45,496
up €45,496 (+1621.5%), from €2,806 to €48,302
- Advances received +€38,181
new in 2025: €38,181
- Debts after one year -€36,958
down €36,958 (-35.7%), from €103,625 to €66,667
- Gross operating margin +€196,220
up €196,220 (+266.0%), from €73,764 to €269,985
- Taxes +€60,741
up €60,741 (+1404.3%), from €4,325 to €65,067
- Financial income +€10,745
up €10,745 (+104.2%), from €10,312 to €21,057
- Depreciation +€2,783
up €2,783 (+5.2%), from €53,787 to €56,571
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 | €710,276 | €974,251 | +€263,975 | +37.2% |
| Fixed assets | 21/28 | €239,364 | €215,097 | -€24,267 | -10.1% |
| Tangible fixed assets | 22/27 | €239,364 | €215,097 | -€24,267 | -10.1% |
| Land and buildings | 22 | €51,880 | €60,763 | +€8,884 | +17.1% |
| Plant, machinery and equipment | 23 | €170,830 | €142,482 | -€28,348 | -16.6% |
| Furniture and vehicles | 24 | €16,654 | €11,851 | -€4,802 | -28.8% |
| Current assets | 29/58 | €470,912 | €759,154 | +€288,242 | +61.2% |
| Stocks and contracts in progress | 3 | €90,200 | €53,100 | -€37,100 | -41.1% |
| Stocks | 30/36 | €90,200 | €53,100 | -€37,100 | -41.1% |
| Amounts receivable within one year | 40/41 | €29,033 | €47,663 | +€18,630 | +64.2% |
| Trade receivables | 40 | €22,656 | €47,663 | +€25,007 | +110.4% |
| Other amounts receivable | 41 | €6,377 | - | -€6,377 | |
| Current investments | 50/53 | €108,374 | €376,373 | +€267,999 | +247.3% |
| Cash at bank and in hand | 54/58 | €241,629 | €243,213 | +€1,584 | +0.7% |
| Deferred charges and accrued income | 490/1 | €1,676 | €38,805 | +€37,129 | +2215.4% |
| Total equity and liabilities | 10/49 | €710,276 | €974,251 | +€263,975 | +37.2% |
| Equity | 10/15 | €370,279 | €532,527 | +€162,248 | +43.8% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €345,279 | €507,527 | +€162,248 | +47.0% |
| Distributable reserves | 133 | €345,279 | €507,527 | +€162,248 | +47.0% |
| Amounts payable | 17/49 | €339,997 | €441,725 | +€101,727 | +29.9% |
| Amounts payable after more than one year | 17 | €103,625 | €66,667 | -€36,958 | -35.7% |
| Financial debts | 170/4 | €103,625 | €66,667 | -€36,958 | -35.7% |
| Amounts payable within one year | 42/48 | €233,567 | €326,756 | +€93,189 | +39.9% |
| Current portion of amounts payable after more than one year | 42 | €37,496 | €36,958 | -€538 | -1.4% |
| Trade debts | 44 | €4,084 | €45 | -€4,039 | -98.9% |
| Suppliers | 440/4 | €4,084 | €45 | -€4,039 | -98.9% |
| Advances received on contracts in progress | 46 | - | €38,181 | +€38,181 | |
| Taxes, remuneration and social security | 45 | €3,307 | €48,860 | +€45,553 | +1377.5% |
| Taxes | 450/3 | €1,807 | €47,360 | +€45,553 | +2520.9% |
| Remuneration and social security | 454/9 | €1,500 | €1,500 | = | 0.0% |
| Other amounts payable | 47/48 | €188,680 | €202,712 | +€14,033 | +7.4% |
| Accrued charges and deferred income | 492/3 | €2,806 | €48,302 | +€45,496 | +1621.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,787 | €56,571 | +€2,783 | +5.2% |
| Other operating charges | 640/8 | €1,621 | €1,496 | -€124 | -7.7% |
| Gross operating margin | 9900 | €73,764 | €269,985 | +€196,220 | +266.0% |
| Operating profit (loss) | 9901 | €18,357 | €211,918 | +€193,561 | +1054.5% |
| Financial income | 75/76B | €10,312 | €21,057 | +€10,745 | +104.2% |
| Recurring financial income | 75 | €10,312 | €21,057 | +€10,745 | +104.2% |
| Financial charges | 65/66B | €6,266 | €5,660 | -€606 | -9.7% |
| Recurring financial charges | 65 | €6,266 | €5,660 | -€606 | -9.7% |
| Profit (loss) for the period before taxes | 9903 | €22,403 | €227,315 | +€204,912 | +914.7% |
| Income taxes | 67/77 | €4,325 | €65,067 | +€60,741 | +1404.3% |
| Profit (loss) for the period | 9904 | €18,077 | €162,248 | +€144,171 | +797.5% |
| Profit (loss) for the period to be appropriated | 9905 | €18,077 | €162,248 | +€144,171 | +797.5% |
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 9 October 2026 via checked.be.