Devuto: 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.
Devuto
Largest movements
- Tangible fixed assets +€1.0m
up €1.0m (+133.4%), from €768,910 to €1.8m
of which Land and buildings: +€1.0m
- Cash -€829,014
down €829,014 (-98.6%), from €840,835 to €11,821
mainly Investment in fixed assets (net) (-€1.1m) and Debts after one year (-€900,000)
- Receivables within one year -€128,015
down €128,015 (-72.6%), from €176,415 to €48,400
of which Other amounts receivable: -€128,015
- Debts after one year -€900,000
down €900,000 (-16.7%), from €5.4m to €4.5m
- Reserves +€728,365
up €728,365 (+30.8%), from €2.4m to €3.1m
of which Distributable reserves: +€734,105
- Other debts +€377,022
up €377,022 (+165.5%), from €227,860 to €604,882
- Tax, wage and social debts -€127,060
down €127,060 (-54.2%), from €234,585 to €107,525
- Taxes -€32,813
down €32,813 (-19.4%), from €168,728 to €135,916
- Depreciation +€15,850
up €15,850 (+109.6%), from €14,464 to €30,315
- Financial charges -€8,665
down €8,665 (-6.4%), from €136,137 to €127,471
- Gross operating margin -€6,771
down €6,771 (-1.6%), from €423,124 to €416,353
- Financial income -€5,450
down €5,450 (-0.6%), from €912,184 to €906,734
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 | €9,287,020 | €9,355,421 | +€68,400 | +0.7% |
| Fixed assets | 21/28 | €8,269,000 | €9,294,363 | +€1.0m | +12.4% |
| Tangible fixed assets | 22/27 | €768,910 | €1,794,273 | +€1.0m | +133.4% |
| Land and buildings | 22 | €764,736 | €1,788,087 | +€1.0m | +133.8% |
| Plant, machinery and equipment | 23 | €2,135 | €4,592 | +€2,458 | +115.1% |
| Furniture and vehicles | 24 | €2,039 | €1,594 | -€445 | -21.8% |
| Financial fixed assets | 28 | €7,500,090 | €7,500,090 | = | 0.0% |
| Current assets | 29/58 | €1,018,021 | €61,057 | -€956,963 | -94.0% |
| Amounts receivable within one year | 40/41 | €176,415 | €48,400 | -€128,015 | -72.6% |
| Trade receivables | 40 | €48,400 | €48,400 | = | 0.0% |
| Other amounts receivable | 41 | €128,015 | - | -€128,015 | |
| Cash at bank and in hand | 54/58 | €840,835 | €11,821 | -€829,014 | -98.6% |
| Deferred charges and accrued income | 490/1 | €771 | €836 | +€65 | +8.4% |
| Total equity and liabilities | 10/49 | €9,287,020 | €9,355,421 | +€68,400 | +0.7% |
| Equity | 10/15 | €2,383,928 | €3,112,293 | +€728,365 | +30.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,365,328 | €3,093,693 | +€728,365 | +30.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €218,283 | €212,544 | -€5,740 | -2.6% |
| Distributable reserves | 133 | €2,145,185 | €2,879,289 | +€734,105 | +34.2% |
| Provisions and deferred taxes | 16 | €72,761 | €70,848 | -€1,913 | -2.6% |
| Deferred taxes | 168 | €72,761 | €70,848 | -€1,913 | -2.6% |
| Amounts payable | 17/49 | €6,830,331 | €6,172,280 | -€658,051 | -9.6% |
| Amounts payable after more than one year | 17 | €5,400,000 | €4,500,000 | -€900,000 | -16.7% |
| Financial debts | 170/4 | €5,400,000 | €4,500,000 | -€900,000 | -16.7% |
| Amounts payable within one year | 42/48 | €1,363,743 | €1,614,690 | +€250,947 | +18.4% |
| Current portion of amounts payable after more than one year | 42 | €900,000 | €900,000 | = | 0.0% |
| Trade debts | 44 | €1,297 | €2,283 | +€986 | +76.0% |
| Suppliers | 440/4 | €1,297 | €2,283 | +€986 | +76.0% |
| Taxes, remuneration and social security | 45 | €234,585 | €107,525 | -€127,060 | -54.2% |
| Taxes | 450/3 | €234,585 | €107,525 | -€127,060 | -54.2% |
| Other amounts payable | 47/48 | €227,860 | €604,882 | +€377,022 | +165.5% |
| Accrued charges and deferred income | 492/3 | €66,588 | €57,589 | -€8,998 | -13.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,464 | €30,315 | +€15,850 | +109.6% |
| Other operating charges | 640/8 | €2,630 | €2,934 | +€304 | +11.6% |
| Gross operating margin | 9900 | €423,124 | €416,353 | -€6,771 | -1.6% |
| Operating profit (loss) | 9901 | €406,030 | €383,105 | -€22,925 | -5.6% |
| Financial income | 75/76B | €912,184 | €906,734 | -€5,450 | -0.6% |
| Recurring financial income | 75 | €912,184 | €906,734 | -€5,450 | -0.6% |
| Financial charges | 65/66B | €136,137 | €127,471 | -€8,665 | -6.4% |
| Recurring financial charges | 65 | €136,137 | €127,471 | -€8,665 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | €1,182,077 | €1,162,367 | -€19,710 | -1.7% |
| Transfer from deferred taxes | 780 | €1,339 | €1,913 | +€575 | +42.9% |
| Income taxes | 67/77 | €168,728 | €135,916 | -€32,813 | -19.4% |
| Profit (loss) for the period | 9904 | €1,014,688 | €1,028,365 | +€13,677 | +1.3% |
| Transfer from tax-exempt reserves | 789 | €4,016 | €5,740 | +€1,724 | +42.9% |
| Profit (loss) for the period to be appropriated | 9905 | €1,018,703 | €1,034,105 | +€15,402 | +1.5% |
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.