DHOVAN: 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.
DHOVAN
Largest movements
- Tangible fixed assets -€52,911
down €52,911 (-16.7%), from €315,943 to €263,032
of which Land and buildings: -€52,593
- Cash -€9,274
down €9,274 (-22.6%), from €41,108 to €31,834
mainly Net result for the year (-€51,015) and Provisions (-€17,800)
- Reserves -€34,568
down €34,568 (-23.0%), from €150,248 to €115,680
of which Tax-exempt reserves: -€34,568
- Provisions -€17,800
down €17,800 (-28.5%), from €62,426 to €44,626
- Profit (loss) carried forward -€16,447
down €16,447 (-280.8%), from -€5,858 to -€22,304
- Trade debts +€6,630
new in 2025: €6,630
- Gross operating margin -€12,824
down €12,824, from €1,825 to -€10,999
- Depreciation -€2,170
down €2,170 (-3.9%), from €55,081 to €52,911
- Other operating charges -€1,045
down €1,045 (-17.7%), from €5,905 to €4,860
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 | €357,051 | €294,866 | -€62,185 | -17.4% |
| Fixed assets | 21/28 | €315,943 | €263,032 | -€52,911 | -16.7% |
| Tangible fixed assets | 22/27 | €315,943 | €263,032 | -€52,911 | -16.7% |
| Land and buildings | 22 | €165,938 | €113,345 | -€52,593 | -31.7% |
| Plant, machinery and equipment | 23 | €1,269 | €951 | -€318 | -25.1% |
| Leasing and similar rights | 25 | €148,736 | €148,736 | = | 0.0% |
| Current assets | 29/58 | €41,108 | €31,834 | -€9,274 | -22.6% |
| Cash at bank and in hand | 54/58 | €41,108 | €31,834 | -€9,274 | -22.6% |
| Total equity and liabilities | 10/49 | €357,051 | €294,866 | -€62,185 | -17.4% |
| Equity | 10/15 | €294,390 | €243,375 | -€51,015 | -17.3% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €150,248 | €115,680 | -€34,568 | -23.0% |
| Non-distributable reserves | 130/1 | €11,861 | €11,861 | = | 0.0% |
| Reserves not available under the articles | 1311 | €11,861 | €11,861 | = | 0.0% |
| Tax-exempt reserves | 132 | €119,499 | €84,932 | -€34,568 | -28.9% |
| Distributable reserves | 133 | €18,887 | €18,887 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,858 | -€22,304 | -€16,447 | -280.8% |
| Provisions and deferred taxes | 16 | €62,426 | €44,626 | -€17,800 | -28.5% |
| Deferred taxes | 168 | €62,426 | €44,626 | -€17,800 | -28.5% |
| Amounts payable | 17/49 | €235 | €6,865 | +€6,630 | +2819.5% |
| Amounts payable within one year | 42/48 | €235 | €6,865 | +€6,630 | +2819.5% |
| Trade debts | 44 | - | €6,630 | +€6,630 | |
| Suppliers | 440/4 | - | €6,630 | +€6,630 | |
| Other amounts payable | 47/48 | €235 | €235 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,081 | €52,911 | -€2,170 | -3.9% |
| Other operating charges | 640/8 | €5,905 | €4,860 | -€1,045 | -17.7% |
| Gross operating margin | 9900 | €1,825 | -€10,999 | -€12,824 | |
| Operating profit (loss) | 9901 | -€59,162 | -€68,769 | -€9,608 | -16.2% |
| Financial charges | 65/66B | €45 | €45 | = | 0.0% |
| Recurring financial charges | 65 | €45 | €45 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | -€59,207 | -€68,814 | -€9,608 | -16.2% |
| Transfer from deferred taxes | 780 | €18,244 | €17,800 | -€445 | -2.4% |
| Profit (loss) for the period | 9904 | -€40,962 | -€51,015 | -€10,053 | -24.5% |
| Transfer from tax-exempt reserves | 789 | €35,431 | €34,568 | -€864 | -2.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,531 | -€16,447 | -€10,916 | -197.4% |
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 29 September 2026 via checked.be.