DR. DERVAUX: 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.
DR. DERVAUX
Largest movements
- Cash +€81,260
up €81,260 (+12.6%), from €644,639 to €725,899
mainly Net result for the year (+€203,994) and Deferred charges and accrued income (+€60,786)
- Deferred charges and accrued income -€60,786
down €60,786 (-46.3%), from €131,389 to €70,603
- Current investments +€35,120
up €35,120 (+18.1%), from €194,569 to €229,689
- Tangible fixed assets -€11,560
down €11,560 (-53.2%), from €21,739 to €10,179
of which Furniture and vehicles: -€10,202
- Reserves +€68,271
up €68,271 (+7.1%), from €963,888 to €1.0m
- Tax, wage and social debts -€11,610
down €11,610 (-29.4%), from €39,531 to €27,921
- Gross operating margin -€16,047
down €16,047 (-5.0%), from €318,690 to €302,643
- Taxes -€4,718
down €4,718 (-5.0%), from €95,055 to €90,337
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 | €1,026,279 | €1,080,128 | +€53,849 | +5.2% |
| Fixed assets | 21/28 | €23,239 | €11,679 | -€11,560 | -49.7% |
| Tangible fixed assets | 22/27 | €21,739 | €10,179 | -€11,560 | -53.2% |
| Land and buildings | 22 | €3,988 | €2,630 | -€1,358 | -34.1% |
| Furniture and vehicles | 24 | €17,750 | €7,549 | -€10,202 | -57.5% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €1,003,040 | €1,068,449 | +€65,409 | +6.5% |
| Amounts receivable within one year | 40/41 | €32,444 | €42,258 | +€9,814 | +30.3% |
| Trade receivables | 40 | €1,244 | €1,756 | +€512 | +41.2% |
| Other amounts receivable | 41 | €31,200 | €40,502 | +€9,302 | +29.8% |
| Current investments | 50/53 | €194,569 | €229,689 | +€35,120 | +18.1% |
| Cash at bank and in hand | 54/58 | €644,639 | €725,899 | +€81,260 | +12.6% |
| Deferred charges and accrued income | 490/1 | €131,389 | €70,603 | -€60,786 | -46.3% |
| Total equity and liabilities | 10/49 | €1,026,279 | €1,080,128 | +€53,849 | +5.2% |
| Equity | 10/15 | €978,148 | €1,046,419 | +€68,271 | +7.0% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €963,888 | €1,032,159 | +€68,271 | +7.1% |
| Distributable reserves | 133 | €963,888 | €1,032,159 | +€68,271 | +7.1% |
| Amounts payable | 17/49 | €48,131 | €33,709 | -€14,422 | -30.0% |
| Amounts payable within one year | 42/48 | €48,131 | €33,709 | -€14,422 | -30.0% |
| Trade debts | 44 | €8,153 | €1,218 | -€6,935 | -85.1% |
| Suppliers | 440/4 | €8,153 | €1,218 | -€6,935 | -85.1% |
| Taxes, remuneration and social security | 45 | €39,531 | €27,921 | -€11,610 | -29.4% |
| Taxes | 450/3 | €39,531 | €27,921 | -€11,610 | -29.4% |
| Other amounts payable | 47/48 | €448 | €4,570 | +€4,123 | +920.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,295 | €11,560 | +€265 | +2.3% |
| Other operating charges | 640/8 | €1,174 | €1,152 | -€22 | -1.9% |
| Gross operating margin | 9900 | €318,690 | €302,643 | -€16,047 | -5.0% |
| Operating profit (loss) | 9901 | €306,221 | €289,931 | -€16,290 | -5.3% |
| Financial income | 75/76B | €3,057 | €5,105 | +€2,048 | +67.0% |
| Recurring financial income | 75 | €3,057 | €5,105 | +€2,048 | +67.0% |
| Financial charges | 65/66B | €679 | €705 | +€26 | +3.8% |
| Recurring financial charges | 65 | €679 | €705 | +€26 | +3.8% |
| Profit (loss) for the period before taxes | 9903 | €308,599 | €294,331 | -€14,268 | -4.6% |
| Income taxes | 67/77 | €95,055 | €90,337 | -€4,718 | -5.0% |
| Profit (loss) for the period | 9904 | €213,545 | €203,994 | -€9,550 | -4.5% |
| Profit (loss) for the period to be appropriated | 9905 | €213,545 | €203,994 | -€9,550 | -4.5% |
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 8 October 2026 via checked.be.