DRS OTH & VUJOVIC: 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.
DRS OTH & VUJOVIC
Largest movements
- Tangible fixed assets +€222,924
up €222,924 (+24.8%), from €900,272 to €1.1m
of which Plant, machinery and equipment: +€178,742
- Receivables within one year -€175,383
down €175,383 (-75.2%), from €233,344 to €57,961
of which Other amounts receivable: -€89,471
- Cash +€15,484
up €15,484 (+5.4%), from €285,944 to €301,428
mainly Net result for the year (+€317,325) and Depreciation (+€198,858)
- Debts after one year +€103,543
up €103,543 (+16.0%), from €645,671 to €749,214
- Short-term financial debts -€67,190
no longer reported in 2025 (was €67,190)
- Other debts +€21,694
up €21,694 (+4.7%), from €465,160 to €486,854
- Current portion of long-term debt +€20,262
up €20,262 (+22.1%), from €91,725 to €111,988
- Tax, wage and social debts -€16,840
down €16,840 (-14.8%), from €113,826 to €96,986
of which Taxes: -€30,243
- Gross operating margin -€106,965
down €106,965 (-10.8%), from €990,465 to €883,500
- Depreciation +€57,203
up €57,203 (+40.4%), from €141,655 to €198,858
- Taxes -€38,238
down €38,238 (-27.8%), from €137,503 to €99,265
- Financial charges +€16,858
up €16,858 (+103.2%), from €16,336 to €33,193
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 | €1,449,181 | €1,514,676 | +€65,494 | +4.5% |
| Fixed assets | 21/28 | €921,447 | €1,138,321 | +€216,874 | +23.5% |
| Intangible fixed assets | 21 | €21,175 | €15,125 | -€6,050 | -28.6% |
| Tangible fixed assets | 22/27 | €900,272 | €1,123,196 | +€222,924 | +24.8% |
| Land and buildings | 22 | €407,682 | €382,622 | -€25,060 | -6.1% |
| Plant, machinery and equipment | 23 | €421,303 | €600,045 | +€178,742 | +42.4% |
| Furniture and vehicles | 24 | €32,115 | €25,333 | -€6,783 | -21.1% |
| Leasing and similar rights | 25 | €33,017 | €109,823 | +€76,807 | +232.6% |
| Other tangible fixed assets | 26 | €6,155 | €5,373 | -€781 | -12.7% |
| Current assets | 29/58 | €527,735 | €376,355 | -€151,380 | -28.7% |
| Amounts receivable within one year | 40/41 | €233,344 | €57,961 | -€175,383 | -75.2% |
| Trade receivables | 40 | €141,455 | €55,543 | -€85,912 | -60.7% |
| Other amounts receivable | 41 | €91,889 | €2,419 | -€89,471 | -97.4% |
| Cash at bank and in hand | 54/58 | €285,944 | €301,428 | +€15,484 | +5.4% |
| Deferred charges and accrued income | 490/1 | €8,446 | €16,966 | +€8,520 | +100.9% |
| Total equity and liabilities | 10/49 | €1,449,181 | €1,514,676 | +€65,494 | +4.5% |
| Equity | 10/15 | €20,460 | €20,460 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Amounts payable | 17/49 | €1,428,721 | €1,494,216 | +€65,494 | +4.6% |
| Amounts payable after more than one year | 17 | €645,671 | €749,214 | +€103,543 | +16.0% |
| Financial debts | 170/4 | €645,671 | €749,214 | +€103,543 | +16.0% |
| Amounts payable within one year | 42/48 | €783,050 | €745,002 | -€38,048 | -4.9% |
| Current portion of amounts payable after more than one year | 42 | €91,725 | €111,988 | +€20,262 | +22.1% |
| Financial debts | 43 | €67,190 | - | -€67,190 | |
| Credit institutions | 430/8 | €67,190 | - | -€67,190 | |
| Trade debts | 44 | €45,148 | €49,174 | +€4,025 | +8.9% |
| Suppliers | 440/4 | €45,148 | €49,174 | +€4,025 | +8.9% |
| Taxes, remuneration and social security | 45 | €113,826 | €96,986 | -€16,840 | -14.8% |
| Taxes | 450/3 | €79,248 | €49,005 | -€30,243 | -38.2% |
| Remuneration and social security | 454/9 | €34,579 | €47,982 | +€13,403 | +38.8% |
| Other amounts payable | 47/48 | €465,160 | €486,854 | +€21,694 | +4.7% |
| Non-recurring operating income | 76A | €4,381 | - | -€4,381 | |
| Remuneration, social security and pensions | 62 | €240,217 | €234,437 | -€5,780 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €141,655 | €198,858 | +€57,203 | +40.4% |
| Other operating charges | 640/8 | €120 | €422 | +€302 | +251.3% |
| Gross operating margin | 9900 | €990,465 | €883,500 | -€106,965 | -10.8% |
| Operating profit (loss) | 9901 | €608,472 | €449,783 | -€158,689 | -26.1% |
| Financial income | 75/76B | €9,726 | - | -€9,726 | |
| Recurring financial income | 75 | €9,726 | - | -€9,726 | |
| Financial charges | 65/66B | €16,336 | €33,193 | +€16,858 | +103.2% |
| Recurring financial charges | 65 | €16,336 | €33,193 | +€16,858 | +103.2% |
| Profit (loss) for the period before taxes | 9903 | €601,863 | €416,590 | -€185,273 | -30.8% |
| Income taxes | 67/77 | €137,503 | €99,265 | -€38,238 | -27.8% |
| Profit (loss) for the period | 9904 | €464,360 | €317,325 | -€147,035 | -31.7% |
| Profit (loss) for the period to be appropriated | 9905 | €464,360 | €317,325 | -€147,035 | -31.7% |
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 9 October 2026 via checked.be.