DSCVR: 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.
DSCVR
Largest movements
- Current investments -€170,000
down €170,000 (-100%), from €170,000 to €0
- Receivables within one year +€95,479
up €95,479 (+397%), from €24,027 to €119,506
of which Trade receivables: +€85,363
- Cash +€78,777
up €78,777 (+238%), from €33,041 to €111,818
mainly Current investments (+€170,000) and Depreciation (+€23,081)
- Financial fixed assets +€26,173
up €26,173 (+31.8%), from €82,310 to €108,484
- Tangible fixed assets -€21,846
down €21,846 (-10.6%), from €206,572 to €184,726
of which Land and buildings: -€11,354
- Trade debts +€22,591
up €22,591 (+266%), from €8,481 to €31,072
- Debts after one year -€21,793
down €21,793 (-12.6%), from €172,838 to €151,045
- Other debts -€15,944
down €15,944 (-72.4%), from €22,023 to €6,079
- Tax, wage and social debts +€14,076
up €14,076 (+252%), from €5,590 to €19,665
- Gross operating margin -€27,377
down €27,377 (-42.4%), from €64,555 to €37,178
- Taxes -€5,638
down €5,638 (-70.2%), from €8,031 to €2,393
- Other operating charges -€2,801
down €2,801 (-51.8%), from €5,403 to €2,602
- Financial income +€2,279
up €2,279 (+392%), from €581 to €2,859
- Financial charges +€1,463
up €1,463 (+36.7%), from €3,987 to €5,450
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 | €922,860 | €928,666 | +€5,807 | +0.6% |
| Fixed assets | 21/28 | €289,148 | €293,222 | +€4,074 | +1.4% |
| Intangible fixed assets | 21 | €265 | €12 | -€253 | -95.6% |
| Tangible fixed assets | 22/27 | €206,572 | €184,726 | -€21,846 | -10.6% |
| Land and buildings | 22 | €147,669 | €136,314 | -€11,354 | -7.7% |
| Plant, machinery and equipment | 23 | €47,687 | €40,137 | -€7,550 | -15.8% |
| Furniture and vehicles | 24 | €11,217 | €8,275 | -€2,942 | -26.2% |
| Financial fixed assets | 28 | €82,310 | €108,484 | +€26,173 | +31.8% |
| Current assets | 29/58 | €633,712 | €635,444 | +€1,732 | +0.3% |
| Amounts receivable after more than one year | 29 | €403,000 | €403,000 | = | 0.0% |
| Other amounts receivable | 291 | €403,000 | €403,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €24,027 | €119,506 | +€95,479 | +397% |
| Trade receivables | 40 | €12,100 | €97,463 | +€85,363 | +705% |
| Other amounts receivable | 41 | €11,927 | €22,043 | +€10,115 | +84.8% |
| Current investments | 50/53 | €170,000 | €0 | -€170,000 | -100% |
| Cash at bank and in hand | 54/58 | €33,041 | €111,818 | +€78,777 | +238% |
| Deferred charges and accrued income | 490/1 | €3,643 | €1,120 | -€2,523 | -69.2% |
| Total equity and liabilities | 10/49 | €922,860 | €928,666 | +€5,807 | +0.6% |
| Equity | 10/15 | €690,456 | €696,966 | +€6,510 | +0.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €671,906 | €678,416 | +€6,510 | +1.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €670,051 | €676,561 | +€6,510 | +1.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €232,404 | €231,700 | -€703 | -0.3% |
| Amounts payable after more than one year | 17 | €172,838 | €151,045 | -€21,793 | -12.6% |
| Financial debts | 170/4 | €172,838 | €151,045 | -€21,793 | -12.6% |
| Amounts payable within one year | 42/48 | €57,519 | €78,608 | +€21,089 | +36.7% |
| Current portion of amounts payable after more than one year | 42 | €21,426 | €21,793 | +€367 | +1.7% |
| Trade debts | 44 | €8,481 | €31,072 | +€22,591 | +266% |
| Suppliers | 440/4 | €8,481 | €31,072 | +€22,591 | +266% |
| Taxes, remuneration and social security | 45 | €5,590 | €19,665 | +€14,076 | +252% |
| Taxes | 450/3 | €5,590 | €19,665 | +€14,076 | +252% |
| Other amounts payable | 47/48 | €22,023 | €6,079 | -€15,944 | -72.4% |
| Accrued charges and deferred income | 492/3 | €2,047 | €2,047 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,921 | €23,081 | +€161 | +0.7% |
| Other operating charges | 640/8 | €5,403 | €2,602 | -€2,801 | -51.8% |
| Gross operating margin | 9900 | €64,555 | €37,178 | -€27,377 | -42.4% |
| Operating profit (loss) | 9901 | €36,231 | €11,494 | -€24,737 | -68.3% |
| Financial income | 75/76B | €581 | €2,859 | +€2,279 | +392% |
| Recurring financial income | 75 | €581 | €2,859 | +€2,279 | +392% |
| Financial charges | 65/66B | €3,987 | €5,450 | +€1,463 | +36.7% |
| Recurring financial charges | 65 | €3,987 | €5,450 | +€1,463 | +36.7% |
| Profit (loss) for the period before taxes | 9903 | €32,825 | €8,903 | -€23,921 | -72.9% |
| Income taxes | 67/77 | €8,031 | €2,393 | -€5,638 | -70.2% |
| Profit (loss) for the period | 9904 | €24,793 | €6,510 | -€18,283 | -73.7% |
| Profit (loss) for the period to be appropriated | 9905 | €24,793 | €6,510 | -€18,283 | -73.7% |
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 17 October 2026 via checked.be.