DISVALE: 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.
DISVALE
Largest movements
- Current investments +€300,000
new in 2025: €300,000
- Tangible fixed assets -€101,770
down €101,770 (-12.7%), from €804,298 to €702,528
of which Land and buildings: -€102,850
- Cash -€57,201
down €57,201 (-28.6%), from €200,180 to €142,979
mainly Current investments (-€300,000) and Contributions, distributions and other (-€167,531)
- Stocks and contracts -€47,029
down €47,029 (-12.1%), from €389,129 to €342,100
- Receivables within one year +€21,728
up €21,728 (+29.9%), from €72,556 to €94,284
of which Trade receivables: +€33,675
- Trade debts +€74,908
up €74,908 (+15.7%), from €476,002 to €550,910
- Other debts +€52,080
up €52,080 (+45.0%), from €115,629 to €167,709
- Staff costs +€60,359
up €60,359 (+13.7%), from €439,296 to €499,655
- Gross operating margin +€51,828
up €51,828 (+6.4%), from €803,933 to €855,761
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 | €1,477,493 | €1,593,246 | +€115,754 | +7.8% |
| Fixed assets | 21/28 | €814,407 | €712,638 | -€101,770 | -12.5% |
| Tangible fixed assets | 22/27 | €804,298 | €702,528 | -€101,770 | -12.7% |
| Land and buildings | 22 | €770,312 | €667,462 | -€102,850 | -13.4% |
| Plant, machinery and equipment | 23 | €7,869 | €5,204 | -€2,665 | -33.9% |
| Furniture and vehicles | 24 | €26,117 | €29,862 | +€3,745 | +14.3% |
| Financial fixed assets | 28 | €10,109 | €10,109 | = | 0.0% |
| Current assets | 29/58 | €663,086 | €880,609 | +€217,523 | +32.8% |
| Stocks and contracts in progress | 3 | €389,129 | €342,100 | -€47,029 | -12.1% |
| Stocks | 30/36 | €389,129 | €342,100 | -€47,029 | -12.1% |
| Amounts receivable within one year | 40/41 | €72,556 | €94,284 | +€21,728 | +29.9% |
| Trade receivables | 40 | €26,602 | €60,277 | +€33,675 | +127% |
| Other amounts receivable | 41 | €45,955 | €34,007 | -€11,948 | -26.0% |
| Current investments | 50/53 | - | €300,000 | +€300,000 | |
| Cash at bank and in hand | 54/58 | €200,180 | €142,979 | -€57,201 | -28.6% |
| Deferred charges and accrued income | 490/1 | €1,220 | €1,246 | +€26 | +2.1% |
| Total equity and liabilities | 10/49 | €1,477,493 | €1,593,246 | +€115,754 | +7.8% |
| Equity | 10/15 | €771,376 | €771,376 | = | 0.0% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €100,500 | €100,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €7,500 | €7,500 | = | 0.0% |
| Distributable reserves | 133 | €93,000 | €93,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €595,876 | €595,876 | = | 0.0% |
| Amounts payable | 17/49 | €706,117 | €821,870 | +€115,754 | +16.4% |
| Amounts payable within one year | 42/48 | €701,494 | €817,285 | +€115,791 | +16.5% |
| Trade debts | 44 | €476,002 | €550,910 | +€74,908 | +15.7% |
| Suppliers | 440/4 | €476,002 | €550,910 | +€74,908 | +15.7% |
| Taxes, remuneration and social security | 45 | €109,863 | €98,666 | -€11,197 | -10.2% |
| Taxes | 450/3 | €41,960 | €31,750 | -€10,210 | -24.3% |
| Remuneration and social security | 454/9 | €67,903 | €66,916 | -€987 | -1.5% |
| Other amounts payable | 47/48 | €115,629 | €167,709 | +€52,080 | +45.0% |
| Accrued charges and deferred income | 492/3 | €4,623 | €4,585 | -€38 | -0.8% |
| Non-recurring operating income | 76A | €2,360 | - | -€2,360 | |
| Remuneration, social security and pensions | 62 | €439,296 | €499,655 | +€60,359 | +13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €120,244 | €113,970 | -€6,275 | -5.2% |
| Other operating charges | 640/8 | €17,735 | €12,624 | -€5,111 | -28.8% |
| Gross operating margin | 9900 | €803,933 | €855,761 | +€51,828 | +6.4% |
| Operating profit (loss) | 9901 | €226,657 | €229,512 | +€2,855 | +1.3% |
| Financial income | 75/76B | €147 | €2,334 | +€2,187 | +1,488% |
| Recurring financial income | 75 | €147 | €2,334 | +€2,187 | +1,488% |
| Financial charges | 65/66B | €3,927 | €4,458 | +€531 | +13.5% |
| Recurring financial charges | 65 | €3,927 | €4,458 | +€531 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | €222,877 | €227,388 | +€4,511 | +2.0% |
| Income taxes | 67/77 | €60,919 | €59,858 | -€1,061 | -1.7% |
| Profit (loss) for the period | 9904 | €161,958 | €167,531 | +€5,572 | +3.4% |
| Profit (loss) for the period to be appropriated | 9905 | €161,958 | €167,531 | +€5,572 | +3.4% |
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 20 October 2026 via checked.be.