DEVOS STUDFARM: 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.
DEVOS STUDFARM
Largest movements
- Tangible fixed assets -€210,502
down €210,502 (-25.0%), from €842,653 to €632,151
- Receivables within one year -€90,603
down €90,603 (-99.9%), from €90,738 to €135
of which Trade receivables: -€90,738
- Cash +€23,194
up €23,194 (+936%), from €2,478 to €25,673
mainly Investment in fixed assets (net) (+€204,835) and Receivables within one year (+€90,603)
- Other debts -€265,294
down €265,294 (-30.0%), from €885,294 to €620,000
- Reserves -€18,535
down €18,535 (-90.3%), from €20,528 to €1,992
- Accrued charges and deferred income +€13,930
up €13,930, from €0 to €13,930
- Gross operating margin -€208,137
down €208,137 (-88.5%), from €235,074 to €26,937
- Financial charges +€19,443
up €19,443 (+99.9%), from €19,470 to €38,913
- Taxes -€6,849
no longer reported in 2025 (was €6,849)
- Other operating charges +€4,023
up €4,023 (+196%), from €2,048 to €6,070
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 | €935,870 | €663,137 | -€272,733 | -29.1% |
| Fixed assets | 21/28 | €842,653 | €637,329 | -€205,324 | -24.4% |
| Intangible fixed assets | 21 | - | €5,178 | +€5,178 | |
| Tangible fixed assets | 22/27 | €842,653 | €632,151 | -€210,502 | -25.0% |
| Land and buildings | 22 | €842,653 | €632,151 | -€210,502 | -25.0% |
| Current assets | 29/58 | €93,217 | €25,808 | -€67,409 | -72.3% |
| Amounts receivable within one year | 40/41 | €90,738 | €135 | -€90,603 | -99.9% |
| Trade receivables | 40 | €90,738 | - | -€90,738 | |
| Other amounts receivable | 41 | €0 | €135 | +€135 | |
| Cash at bank and in hand | 54/58 | €2,478 | €25,673 | +€23,194 | +936% |
| Total equity and liabilities | 10/49 | €935,870 | €663,137 | -€272,733 | -29.1% |
| Equity | 10/15 | €40,528 | €21,992 | -€18,535 | -45.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €20,528 | €1,992 | -€18,535 | -90.3% |
| Distributable reserves | 133 | €20,528 | €1,992 | -€18,535 | -90.3% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €895,342 | €641,145 | -€254,197 | -28.4% |
| Amounts payable within one year | 42/48 | €895,342 | €627,215 | -€268,127 | -29.9% |
| Trade debts | 44 | €0 | €366 | +€366 | |
| Suppliers | 440/4 | €0 | €366 | +€366 | |
| Taxes, remuneration and social security | 45 | €10,048 | €6,849 | -€3,199 | -31.8% |
| Taxes | 450/3 | €10,048 | €6,849 | -€3,199 | -31.8% |
| Other amounts payable | 47/48 | €885,294 | €620,000 | -€265,294 | -30.0% |
| Accrued charges and deferred income | 492/3 | €0 | €13,930 | +€13,930 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €489 | +€489 | |
| Other operating charges | 640/8 | €2,048 | €6,070 | +€4,023 | +196% |
| Gross operating margin | 9900 | €235,074 | €26,937 | -€208,137 | -88.5% |
| Operating profit (loss) | 9901 | €233,026 | €20,378 | -€212,648 | -91.3% |
| Financial charges | 65/66B | €19,470 | €38,913 | +€19,443 | +99.9% |
| Recurring financial charges | 65 | €19,470 | €38,913 | +€19,443 | +99.9% |
| Profit (loss) for the period before taxes | 9903 | €213,556 | -€18,535 | -€232,091 | |
| Income taxes | 67/77 | €6,849 | - | -€6,849 | |
| Profit (loss) for the period | 9904 | €206,707 | -€18,535 | -€225,242 | |
| Profit (loss) for the period to be appropriated | 9905 | €206,707 | -€18,535 | -€225,242 |
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 17 October 2026 via checked.be.