DL VEE: 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.
DL VEE
Largest movements
- Receivables within one year +€175,553
up €175,553 (+30.1%), from €582,792 to €758,344
of which Other amounts receivable: +€118,715
- Stocks and contracts -€80,517
down €80,517 (-14.0%), from €575,368 to €494,851
- Other debts +€201,902
up €201,902 (+1394.4%), from €14,479 to €216,381
- Trade debts -€192,273
down €192,273 (-47.2%), from €407,408 to €215,135
- Profit (loss) carried forward +€122,575
up €122,575, from -€58,310 to €64,265
- Debts after one year -€27,500
down €27,500 (-3.5%), from €777,917 to €750,417
- Current portion of long-term debt -€25,000
down €25,000 (-47.6%), from €52,500 to €27,500
- Gross operating margin +€185,122
up €185,122, from -€2,412 to €182,710
- Financial charges +€14,887
up €14,887 (+71.3%), from €20,868 to €35,755
- Taxes -€6,243
down €6,243 (-32.0%), from €19,536 to €13,293
- Depreciation +€5,000
up €5,000 (+117.9%), from €4,242 to €9,242
- Staff costs -€4,887
no longer reported in 2025 (was €4,887)
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 | €1,770,646 | €1,869,131 | +€98,484 | +5.6% |
| Formation expenses | 20 | €257 | €66 | -€191 | -74.2% |
| Fixed assets | 21/28 | €548,634 | €564,827 | +€16,193 | +3.0% |
| Intangible fixed assets | 21 | €50,000 | €50,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €44,637 | €60,830 | +€16,193 | +36.3% |
| Land and buildings | 22 | €11,043 | €11,535 | +€492 | +4.5% |
| Plant, machinery and equipment | 23 | €10,179 | €7,918 | -€2,261 | -22.2% |
| Furniture and vehicles | 24 | €23,416 | €41,378 | +€17,962 | +76.7% |
| Financial fixed assets | 28 | €453,997 | €453,997 | = | 0.0% |
| Current assets | 29/58 | €1,221,754 | €1,304,237 | +€82,482 | +6.8% |
| Stocks and contracts in progress | 3 | €575,368 | €494,851 | -€80,517 | -14.0% |
| Stocks | 30/36 | €575,368 | €494,851 | -€80,517 | -14.0% |
| Amounts receivable within one year | 40/41 | €582,792 | €758,344 | +€175,553 | +30.1% |
| Trade receivables | 40 | €437,632 | €494,469 | +€56,838 | +13.0% |
| Other amounts receivable | 41 | €145,160 | €263,875 | +€118,715 | +81.8% |
| Cash at bank and in hand | 54/58 | €63,595 | €51,042 | -€12,553 | -19.7% |
| Total equity and liabilities | 10/49 | €1,770,646 | €1,869,131 | +€98,484 | +5.6% |
| Equity | 10/15 | €491,690 | €614,265 | +€122,575 | +24.9% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €50,000 | €50,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €50,000 | €50,000 | = | 0.0% |
| Legal reserve | 130 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€58,310 | €64,265 | +€122,575 | |
| Amounts payable | 17/49 | €1,278,956 | €1,254,865 | -€24,091 | -1.9% |
| Amounts payable after more than one year | 17 | €777,917 | €750,417 | -€27,500 | -3.5% |
| Financial debts | 170/4 | €777,917 | €750,417 | -€27,500 | -3.5% |
| Amounts payable within one year | 42/48 | €501,040 | €504,449 | +€3,409 | +0.7% |
| Current portion of amounts payable after more than one year | 42 | €52,500 | €27,500 | -€25,000 | -47.6% |
| Trade debts | 44 | €407,408 | €215,135 | -€192,273 | -47.2% |
| Suppliers | 440/4 | €407,408 | €215,135 | -€192,273 | -47.2% |
| Taxes, remuneration and social security | 45 | €26,653 | €45,433 | +€18,780 | +70.5% |
| Taxes | 450/3 | €26,653 | €39,433 | +€12,780 | +47.9% |
| Remuneration and social security | 454/9 | - | €6,000 | +€6,000 | |
| Other amounts payable | 47/48 | €14,479 | €216,381 | +€201,902 | +1394.4% |
| Non-recurring operating income | 76A | €10,282 | €6,491 | -€3,791 | -36.9% |
| Remuneration, social security and pensions | 62 | €4,887 | - | -€4,887 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,242 | €9,242 | +€5,000 | +117.9% |
| Other operating charges | 640/8 | €5,146 | €2,748 | -€2,398 | -46.6% |
| Gross operating margin | 9900 | -€2,412 | €182,710 | +€185,122 | |
| Operating profit (loss) | 9901 | -€16,686 | €170,721 | +€187,407 | |
| Financial income | 75/76B | €3 | €901 | +€898 | +29652.1% |
| Recurring financial income | 75 | €3 | €901 | +€898 | +29652.1% |
| Financial charges | 65/66B | €20,868 | €35,755 | +€14,887 | +71.3% |
| Recurring financial charges | 65 | €20,868 | €35,755 | +€14,887 | +71.3% |
| Profit (loss) for the period before taxes | 9903 | -€37,551 | €135,868 | +€173,419 | |
| Income taxes | 67/77 | €19,536 | €13,293 | -€6,243 | -32.0% |
| Profit (loss) for the period | 9904 | -€57,087 | €122,575 | +€179,662 | |
| Profit (loss) for the period to be appropriated | 9905 | -€57,087 | €122,575 | +€179,662 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.