DR. HELENA DEVUE: 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. HELENA DEVUE
Largest movements
- Cash +€10,483
up €10,483 (+63.7%), from €16,470 to €26,953
mainly Net result for the year (+€15,038) and Depreciation (+€6,652)
- Tangible fixed assets -€4,542
down €4,542 (-2.7%), from €171,013 to €166,471
of which Land and buildings: -€4,848
- Reserves +€15,038
up €15,038 (+45.1%), from €33,322 to €48,360
- Debts after one year -€10,848
down €10,848 (-8.7%), from €124,476 to €113,628
- Gross operating margin -€6,825
down €6,825 (-18.3%), from €37,359 to €30,534
- Other operating charges -€4,471
down €4,471 (-100.0%), from €4,471 to €0
- Depreciation +€546
up €546 (+8.9%), from €6,106 to €6,652
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 | €188,920 | €194,422 | +€5,501 | +2.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €171,013 | €166,471 | -€4,542 | -2.7% |
| Tangible fixed assets | 22/27 | €171,013 | €166,471 | -€4,542 | -2.7% |
| Land and buildings | 22 | €165,549 | €160,700 | -€4,848 | -2.9% |
| Plant, machinery and equipment | 23 | €2,553 | €2,318 | -€234 | -9.2% |
| Furniture and vehicles | 24 | €2,911 | €3,452 | +€540 | +18.6% |
| Current assets | 29/58 | €17,907 | €27,951 | +€10,044 | +56.1% |
| Amounts receivable within one year | 40/41 | €1,265 | €438 | -€827 | -65.4% |
| Other amounts receivable | 41 | €1,265 | €438 | -€827 | -65.4% |
| Cash at bank and in hand | 54/58 | €16,470 | €26,953 | +€10,483 | +63.7% |
| Deferred charges and accrued income | 490/1 | €172 | €560 | +€388 | +225% |
| Total equity and liabilities | 10/49 | €188,920 | €194,422 | +€5,501 | +2.9% |
| Equity | 10/15 | €51,922 | €66,960 | +€15,038 | +29.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €33,322 | €48,360 | +€15,038 | +45.1% |
| Distributable reserves | 133 | €33,322 | €48,360 | +€15,038 | +45.1% |
| Amounts payable | 17/49 | €136,998 | €127,461 | -€9,537 | -7.0% |
| Amounts payable after more than one year | 17 | €124,476 | €113,628 | -€10,848 | -8.7% |
| Financial debts | 170/4 | €124,476 | €113,628 | -€10,848 | -8.7% |
| Amounts payable within one year | 42/48 | €11,612 | €13,834 | +€2,222 | +19.1% |
| Current portion of amounts payable after more than one year | 42 | €10,632 | €10,848 | +€216 | +2.0% |
| Trade debts | 44 | - | €1,479 | +€1,479 | |
| Suppliers | 440/4 | - | €1,479 | +€1,479 | |
| Taxes, remuneration and social security | 45 | - | €1,506 | +€1,506 | |
| Taxes | 450/3 | - | €1,506 | +€1,506 | |
| Other amounts payable | 47/48 | €980 | - | -€980 | |
| Accrued charges and deferred income | 492/3 | €911 | - | -€911 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,106 | €6,652 | +€546 | +8.9% |
| Other operating charges | 640/8 | €4,471 | €0 | -€4,471 | -100.0% |
| Gross operating margin | 9900 | €37,359 | €30,534 | -€6,825 | -18.3% |
| Operating profit (loss) | 9901 | €26,782 | €23,881 | -€2,900 | -10.8% |
| Financial income | 75/76B | €10 | - | -€10 | |
| Recurring financial income | 75 | €10 | - | -€10 | |
| Financial charges | 65/66B | €3,034 | €2,837 | -€197 | -6.5% |
| Recurring financial charges | 65 | €3,034 | €2,837 | -€197 | -6.5% |
| Profit (loss) for the period before taxes | 9903 | €23,758 | €21,045 | -€2,714 | -11.4% |
| Income taxes | 67/77 | €5,735 | €6,006 | +€272 | +4.7% |
| Profit (loss) for the period | 9904 | €18,024 | €15,038 | -€2,986 | -16.6% |
| Profit (loss) for the period to be appropriated | 9905 | €18,024 | €15,038 | -€2,986 | -16.6% |
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 15 October 2026 via checked.be.