DEVOLUTION: 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.
DEVOLUTION
Largest movements
- Tangible fixed assets -€12,568
down €12,568 (-45.2%), from €27,829 to €15,261
of which Furniture and vehicles: -€12,219
- Current investments +€6,036
new in 2025: €6,036
- Cash -€4,774
down €4,774 (-32.7%), from €14,603 to €9,829
mainly Debts after one year (-€9,350) and Current investments (-€6,036)
- Receivables within one year +€3,857
up €3,857 (+18.4%), from €20,915 to €24,772
of which Trade receivables: +€4,360
- Deferred charges and accrued income +€657
up €657 (+33.3%), from €1,969 to €2,625
- Debts after one year -€9,350
down €9,350 (-46.9%), from €19,952 to €10,602
- Profit (loss) carried forward +€3,479
up €3,479 (+73.9%), from -€4,707 to -€1,228
- Tax, wage and social debts -€1,067
down €1,067 (-20.0%), from €5,344 to €4,277
- Gross operating margin +€2,077
up €2,077 (+8.3%), from €24,937 to €27,015
- Other operating charges -€646
down €646 (-15.0%), from €4,297 to €3,651
- Taxes +€557
up €557 (+12.4%), from €4,509 to €5,066
- Depreciation -€521
down €521 (-3.7%), from €14,278 to €13,757
- Financial charges -€359
down €359 (-23.9%), from €1,504 to €1,145
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 | €65,316 | €58,523 | -€6,793 | -10.4% |
| Fixed assets | 21/28 | €27,829 | €15,261 | -€12,568 | -45.2% |
| Tangible fixed assets | 22/27 | €27,829 | €15,261 | -€12,568 | -45.2% |
| Plant, machinery and equipment | 23 | €4,196 | €3,846 | -€350 | -8.3% |
| Furniture and vehicles | 24 | €23,634 | €11,415 | -€12,219 | -51.7% |
| Current assets | 29/58 | €37,487 | €43,263 | +€5,775 | +15.4% |
| Amounts receivable within one year | 40/41 | €20,915 | €24,772 | +€3,857 | +18.4% |
| Trade receivables | 40 | €20,169 | €24,529 | +€4,360 | +21.6% |
| Other amounts receivable | 41 | €746 | €243 | -€504 | -67.5% |
| Current investments | 50/53 | - | €6,036 | +€6,036 | |
| Cash at bank and in hand | 54/58 | €14,603 | €9,829 | -€4,774 | -32.7% |
| Deferred charges and accrued income | 490/1 | €1,969 | €2,625 | +€657 | +33.3% |
| Total equity and liabilities | 10/49 | €65,316 | €58,523 | -€6,793 | -10.4% |
| Equity | 10/15 | €27,445 | €30,924 | +€3,479 | +12.7% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €30,652 | €30,652 | = | 0.0% |
| Distributable reserves | 133 | €30,652 | €30,652 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,707 | -€1,228 | +€3,479 | +73.9% |
| Amounts payable | 17/49 | €37,871 | €27,600 | -€10,272 | -27.1% |
| Amounts payable after more than one year | 17 | €19,952 | €10,602 | -€9,350 | -46.9% |
| Financial debts | 170/4 | €19,952 | €10,602 | -€9,350 | -46.9% |
| Amounts payable within one year | 42/48 | €17,532 | €16,599 | -€934 | -5.3% |
| Current portion of amounts payable after more than one year | 42 | €8,950 | €9,350 | +€400 | +4.5% |
| Trade debts | 44 | €1,599 | €1,739 | +€140 | +8.8% |
| Suppliers | 440/4 | €1,599 | €1,739 | +€140 | +8.8% |
| Taxes, remuneration and social security | 45 | €5,344 | €4,277 | -€1,067 | -20.0% |
| Taxes | 450/3 | €5,344 | €4,277 | -€1,067 | -20.0% |
| Other amounts payable | 47/48 | €1,640 | €1,232 | -€407 | -24.8% |
| Accrued charges and deferred income | 492/3 | €387 | €400 | +€12 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,278 | €13,757 | -€521 | -3.7% |
| Other operating charges | 640/8 | €4,297 | €3,651 | -€646 | -15.0% |
| Gross operating margin | 9900 | €24,937 | €27,015 | +€2,077 | +8.3% |
| Operating profit (loss) | 9901 | €6,362 | €9,606 | +€3,245 | +51.0% |
| Financial income | 75/76B | €97 | €83 | -€14 | -14.9% |
| Recurring financial income | 75 | €97 | €83 | -€14 | -14.9% |
| Financial charges | 65/66B | €1,504 | €1,145 | -€359 | -23.9% |
| Recurring financial charges | 65 | €1,504 | €1,145 | -€359 | -23.9% |
| Profit (loss) for the period before taxes | 9903 | €4,955 | €8,544 | +€3,590 | +72.4% |
| Income taxes | 67/77 | €4,509 | €5,066 | +€557 | +12.4% |
| Profit (loss) for the period | 9904 | €446 | €3,479 | +€3,033 | +679.8% |
| Profit (loss) for the period to be appropriated | 9905 | €446 | €3,479 | +€3,033 | +679.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.