DV ADVIES: 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.
DV ADVIES
Largest movements
- Current investments +€924,187
up €924,187 (+285%), from €324,829 to €1.2m
- Cash -€806,459
down €806,459 (-57.1%), from €1.4m to €605,843
mainly Current investments (-€924,187) and Other debts (-€20,342)
- Reserves +€127,140
up €127,140 (+7.4%), from €1.7m to €1.8m
- Other debts -€20,342
down €20,342 (-76.8%), from €26,500 to €6,158
- Financial income +€29,032
up €29,032 (+58.7%), from €49,490 to €78,522
- Financial charges +€19,821
up €19,821, from -€18,919 to €901
- Gross operating margin -€17,254
down €17,254 (-14.7%), from €116,991 to €99,737
- Taxes -€5,399
down €5,399 (-11.4%), from €47,251 to €41,852
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 | €1,772,100 | €1,879,288 | +€107,188 | +6.0% |
| Fixed assets | 21/28 | €607 | €1,400 | +€793 | +131% |
| Tangible fixed assets | 22/27 | €607 | €1,400 | +€793 | +131% |
| Plant, machinery and equipment | 23 | €564 | €1,378 | +€814 | +144% |
| Furniture and vehicles | 24 | €43 | €21 | -€21 | -50.0% |
| Current assets | 29/58 | €1,771,493 | €1,877,889 | +€106,395 | +6.0% |
| Amounts receivable within one year | 40/41 | €33,411 | €16,081 | -€17,330 | -51.9% |
| Trade receivables | 40 | €15,457 | €16,081 | +€624 | +4.0% |
| Other amounts receivable | 41 | €17,953 | - | -€17,953 | |
| Current investments | 50/53 | €324,829 | €1,249,016 | +€924,187 | +285% |
| Cash at bank and in hand | 54/58 | €1,412,302 | €605,843 | -€806,459 | -57.1% |
| Deferred charges and accrued income | 490/1 | €952 | €6,949 | +€5,997 | +630% |
| Total equity and liabilities | 10/49 | €1,772,100 | €1,879,288 | +€107,188 | +6.0% |
| Equity | 10/15 | €1,736,203 | €1,863,100 | +€126,897 | +7.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,717,360 | €1,844,500 | +€127,140 | +7.4% |
| Distributable reserves | 133 | €1,717,360 | €1,844,500 | +€127,140 | +7.4% |
| Profit (loss) carried forward | 14 | €243 | €0 | -€243 | -100% |
| Amounts payable | 17/49 | €35,897 | €16,188 | -€19,709 | -54.9% |
| Amounts payable within one year | 42/48 | €35,461 | €16,076 | -€19,385 | -54.7% |
| Trade debts | 44 | €961 | €956 | -€5 | -0.5% |
| Suppliers | 440/4 | €961 | €956 | -€5 | -0.5% |
| Taxes, remuneration and social security | 45 | €8,000 | €8,962 | +€962 | +12.0% |
| Taxes | 450/3 | €8,000 | €8,962 | +€962 | +12.0% |
| Other amounts payable | 47/48 | €26,500 | €6,158 | -€20,342 | -76.8% |
| Accrued charges and deferred income | 492/3 | €436 | €112 | -€324 | -74.3% |
| Non-recurring operating income | 76A | - | €11,157 | +€11,157 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €492 | €1,018 | +€526 | +107% |
| Other operating charges | 640/8 | €1,444 | €1,433 | -€12 | -0.8% |
| Gross operating margin | 9900 | €116,991 | €99,737 | -€17,254 | -14.7% |
| Operating profit (loss) | 9901 | €115,054 | €97,286 | -€17,768 | -15.4% |
| Financial income | 75/76B | €49,490 | €78,522 | +€29,032 | +58.7% |
| Recurring financial income | 75 | €49,490 | €78,522 | +€29,032 | +58.7% |
| Financial charges | 65/66B | -€18,919 | €901 | +€19,821 | |
| Recurring financial charges | 65 | -€18,919 | €901 | +€19,821 | |
| Profit (loss) for the period before taxes | 9903 | €183,464 | €174,907 | -€8,557 | -4.7% |
| Income taxes | 67/77 | €47,251 | €41,852 | -€5,399 | -11.4% |
| Profit (loss) for the period | 9904 | €136,213 | €133,054 | -€3,158 | -2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €136,213 | €133,054 | -€3,158 | -2.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.