Dr. CS & Dr. PVA: 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.
Dr. CS & Dr. PVA
Largest movements
- Cash +€173,262
up €173,262 (+93.6%), from €185,019 to €358,280
mainly Net result for the year (+€342,744) and Trade debts (+€22,343)
- Tangible fixed assets -€8,905
down €8,905 (-19.4%), from €46,002 to €37,097
of which Leasing and similar rights: -€8,992
- Profit (loss) carried forward +€341,078
up €341,078 (+124%), from €275,332 to €616,410
- Other debts -€196,854
down €196,854 (-93.5%), from €210,594 to €13,739
- Trade debts +€22,343
up €22,343 (+901%), from €2,479 to €24,823
- Debts after one year -€8,749
down €8,749 (-25.4%), from €34,445 to €25,696
- Gross operating margin +€146,470
up €146,470 (+45.7%), from €320,190 to €466,659
- Taxes +€34,149
up €34,149 (+43.8%), from €78,041 to €112,190
- Depreciation +€7,613
up €7,613 (+254%), from €2,999 to €10,612
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 | €543,171 | €701,604 | +€158,433 | +29.2% |
| Fixed assets | 21/28 | €47,702 | €38,797 | -€8,905 | -18.7% |
| Tangible fixed assets | 22/27 | €46,002 | €37,097 | -€8,905 | -19.4% |
| Plant, machinery and equipment | 23 | €1,325 | €452 | -€873 | -65.9% |
| Furniture and vehicles | 24 | €1,510 | €2,470 | +€960 | +63.6% |
| Leasing and similar rights | 25 | €43,167 | €34,175 | -€8,992 | -20.8% |
| Financial fixed assets | 28 | €1,700 | €1,700 | = | 0.0% |
| Current assets | 29/58 | €495,469 | €662,806 | +€167,338 | +33.8% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Current investments | 50/53 | €303,000 | €301,171 | -€1,829 | -0.6% |
| Cash at bank and in hand | 54/58 | €185,019 | €358,280 | +€173,262 | +93.6% |
| Deferred charges and accrued income | 490/1 | €7,450 | €3,355 | -€4,095 | -55.0% |
| Total equity and liabilities | 10/49 | €543,171 | €701,604 | +€158,433 | +29.2% |
| Equity | 10/15 | €280,332 | €621,410 | +€341,078 | +122% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €275,332 | €616,410 | +€341,078 | +124% |
| Amounts payable | 17/49 | €262,839 | €80,194 | -€182,645 | -69.5% |
| Amounts payable after more than one year | 17 | €34,445 | €25,696 | -€8,749 | -25.4% |
| Financial debts | 170/4 | €34,445 | €25,696 | -€8,749 | -25.4% |
| Amounts payable within one year | 42/48 | €228,395 | €54,498 | -€173,896 | -76.1% |
| Current portion of amounts payable after more than one year | 42 | €8,449 | €8,749 | +€300 | +3.6% |
| Trade debts | 44 | €2,479 | €24,823 | +€22,343 | +901% |
| Suppliers | 440/4 | €2,479 | €24,823 | +€22,343 | +901% |
| Taxes, remuneration and social security | 45 | €6,873 | €7,188 | +€315 | +4.6% |
| Taxes | 450/3 | €6,873 | €7,188 | +€315 | +4.6% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €210,594 | €13,739 | -€196,854 | -93.5% |
| Non-recurring operating income | 76A | €128 | €0 | -€128 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,999 | €10,612 | +€7,613 | +254% |
| Other operating charges | 640/8 | €2,324 | €3,436 | +€1,111 | +47.8% |
| Gross operating margin | 9900 | €320,190 | €466,659 | +€146,470 | +45.7% |
| Operating profit (loss) | 9901 | €314,867 | €452,612 | +€137,745 | +43.7% |
| Financial income | 75/76B | €3,899 | €3,885 | -€15 | -0.4% |
| Recurring financial income | 75 | €3,899 | €3,885 | -€15 | -0.4% |
| Financial charges | 65/66B | €643 | €1,562 | +€919 | +143% |
| Recurring financial charges | 65 | €643 | €1,562 | +€919 | +143% |
| Profit (loss) for the period before taxes | 9903 | €318,123 | €454,934 | +€136,811 | +43.0% |
| Income taxes | 67/77 | €78,041 | €112,190 | +€34,149 | +43.8% |
| Profit (loss) for the period | 9904 | €240,082 | €342,744 | +€102,662 | +42.8% |
| Profit (loss) for the period to be appropriated | 9905 | €240,082 | €342,744 | +€102,662 | +42.8% |
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 19 October 2026 via checked.be.