DEVRIESE & PARTNERS: 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.
DEVRIESE & PARTNERS
Largest movements
- Tangible fixed assets -€192,061
down €192,061 (-13.9%), from €1.4m to €1.2m
of which Land and buildings: -€189,692
- Cash +€105,989
up €105,989 (+312%), from €34,004 to €139,993
mainly Investment in fixed assets (net) (+€154,196) and Net result for the year (+€125,566)
- Receivables within one year -€78,686
down €78,686 (-92.4%), from €85,123 to €6,436
of which Other amounts receivable: -€41,092
- Stocks and contracts +€25,280
new in 2025: €25,280
- Debts after one year -€143,150
down €143,150 (-15.9%), from €899,675 to €756,525
of which Financial debts: -€133,150
- Current portion of long-term debt -€26,680
down €26,680 (-20.7%), from €128,670 to €101,990
- Reserves +€25,553
up €25,553 (+9.2%), from €277,842 to €303,395
of which Tax-exempt reserves: +€63,150
- Other debts +€20,381
up €20,381 (+2,373%), from €859 to €21,240
- Trade debts -€18,060
down €18,060 (-18.9%), from €95,387 to €77,327
- Gross operating margin +€116,840
up €116,840 (+88.6%), from €131,829 to €248,669
- Taxes +€9,921
up €9,921 (+36.7%), from €27,068 to €36,989
- Depreciation -€6,157
down €6,157 (-14.0%), from €44,022 to €37,865
- Other operating charges -€3,901
down €3,901 (-37.3%), from €10,452 to €6,551
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 | €1,576,799 | €1,437,758 | -€139,042 | -8.8% |
| Fixed assets | 21/28 | €1,451,802 | €1,259,741 | -€192,061 | -13.2% |
| Tangible fixed assets | 22/27 | €1,383,547 | €1,191,486 | -€192,061 | -13.9% |
| Land and buildings | 22 | €1,376,385 | €1,186,693 | -€189,692 | -13.8% |
| Plant, machinery and equipment | 23 | €3,433 | €3,581 | +€148 | +4.3% |
| Furniture and vehicles | 24 | €3,728 | €1,211 | -€2,517 | -67.5% |
| Financial fixed assets | 28 | €68,255 | €68,255 | = | 0.0% |
| Current assets | 29/58 | €124,997 | €178,017 | +€53,020 | +42.4% |
| Stocks and contracts in progress | 3 | - | €25,280 | +€25,280 | |
| Stocks | 30/36 | - | €25,280 | +€25,280 | |
| Amounts receivable within one year | 40/41 | €85,123 | €6,436 | -€78,686 | -92.4% |
| Trade receivables | 40 | €37,977 | €382 | -€37,595 | -99.0% |
| Other amounts receivable | 41 | €47,146 | €6,055 | -€41,092 | -87.2% |
| Cash at bank and in hand | 54/58 | €34,004 | €139,993 | +€105,989 | +312% |
| Deferred charges and accrued income | 490/1 | €5,871 | €6,307 | +€436 | +7.4% |
| Total equity and liabilities | 10/49 | €1,576,799 | €1,437,758 | -€139,042 | -8.8% |
| Equity | 10/15 | €377,879 | €403,433 | +€25,553 | +6.8% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €277,842 | €303,395 | +€25,553 | +9.2% |
| Tax-exempt reserves | 132 | - | €63,150 | +€63,150 | |
| Distributable reserves | 133 | €277,842 | €240,245 | -€37,597 | -13.5% |
| Profit (loss) carried forward | 14 | €37 | €37 | = | 0.0% |
| Amounts payable | 17/49 | €1,198,920 | €1,034,325 | -€164,595 | -13.7% |
| Amounts payable after more than one year | 17 | €899,675 | €756,525 | -€143,150 | -15.9% |
| Financial debts | 170/4 | €844,675 | €711,525 | -€133,150 | -15.8% |
| Other amounts payable | 178/9 | €55,000 | €45,000 | -€10,000 | -18.2% |
| Amounts payable within one year | 42/48 | €288,396 | €265,722 | -€22,674 | -7.9% |
| Current portion of amounts payable after more than one year | 42 | €128,670 | €101,990 | -€26,680 | -20.7% |
| Financial debts | 43 | €30,000 | €35,870 | +€5,870 | +19.6% |
| Credit institutions | 430/8 | €30,000 | €35,870 | +€5,870 | +19.6% |
| Trade debts | 44 | €95,387 | €77,327 | -€18,060 | -18.9% |
| Suppliers | 440/4 | €95,387 | €77,327 | -€18,060 | -18.9% |
| Taxes, remuneration and social security | 45 | €33,480 | €29,296 | -€4,184 | -12.5% |
| Taxes | 450/3 | €33,480 | €29,296 | -€4,184 | -12.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €859 | €21,240 | +€20,381 | +2,373% |
| Accrued charges and deferred income | 492/3 | €10,850 | €12,078 | +€1,229 | +11.3% |
| Non-recurring operating income | 76A | €34,000 | €99,722 | +€65,722 | +193% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,022 | €37,865 | -€6,157 | -14.0% |
| Other operating charges | 640/8 | €10,452 | €6,551 | -€3,901 | -37.3% |
| Gross operating margin | 9900 | €131,829 | €248,669 | +€116,840 | +88.6% |
| Operating profit (loss) | 9901 | €77,355 | €204,253 | +€126,898 | +164% |
| Financial income | 75/76B | €0 | €10 | +€10 | +10,090% |
| Recurring financial income | 75 | €0 | €10 | +€10 | +10,090% |
| Financial charges | 65/66B | €42,650 | €41,708 | -€942 | -2.2% |
| Recurring financial charges | 65 | €42,650 | €41,708 | -€942 | -2.2% |
| Profit (loss) for the period before taxes | 9903 | €34,705 | €162,555 | +€127,849 | +368% |
| Income taxes | 67/77 | €27,068 | €36,989 | +€9,921 | +36.7% |
| Profit (loss) for the period | 9904 | €7,638 | €125,566 | +€117,928 | +1,544% |
| Transfer to tax-exempt reserves | 689 | - | €63,150 | +€63,150 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,638 | €62,416 | +€54,778 | +717% |
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 27 October 2026 via checked.be.