DV Advisory: 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.
DV Advisory
Largest movements
- Receivables after one year +€351,059
new in 2025: €351,059
- Receivables within one year -€244,892
down €244,892 (-99.9%), from €245,027 to €135
of which Other amounts receivable: -€232,920
- Cash +€5,926
up €5,926 (+341.2%), from €1,737 to €7,663
mainly Receivables within one year (+€244,892) and Net result for the year (+€104,573)
- Tangible fixed assets -€4,391
down €4,391 (-39.0%), from €11,256 to €6,865
- Reserves +€104,573
up €104,573 (+62.9%), from €166,251 to €270,824
- Short-term financial debts +€10,000
new in 2025: €10,000
- Tax, wage and social debts -€6,787
down €6,787 (-7.7%), from €88,209 to €81,421
- Gross operating margin +€7,122
up €7,122 (+4.6%), from €154,867 to €161,989
- Depreciation +€3,630
up €3,630 (+477.6%), from €760 to €4,391
- Taxes +€1,678
up €1,678 (+3.4%), from €49,749 to €51,427
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 | €258,020 | €366,082 | +€108,063 | +41.9% |
| Fixed assets | 21/28 | €11,256 | €7,225 | -€4,031 | -35.8% |
| Tangible fixed assets | 22/27 | €11,256 | €6,865 | -€4,391 | -39.0% |
| Furniture and vehicles | 24 | €11,256 | €6,865 | -€4,391 | -39.0% |
| Financial fixed assets | 28 | - | €360 | +€360 | |
| Current assets | 29/58 | €246,764 | €358,857 | +€112,093 | +45.4% |
| Amounts receivable after more than one year | 29 | - | €351,059 | +€351,059 | |
| Other amounts receivable | 291 | - | €351,059 | +€351,059 | |
| Amounts receivable within one year | 40/41 | €245,027 | €135 | -€244,892 | -99.9% |
| Trade receivables | 40 | €11,972 | - | -€11,972 | |
| Other amounts receivable | 41 | €233,055 | €135 | -€232,920 | -99.9% |
| Cash at bank and in hand | 54/58 | €1,737 | €7,663 | +€5,926 | +341.2% |
| Total equity and liabilities | 10/49 | €258,020 | €366,082 | +€108,063 | +41.9% |
| Equity | 10/15 | €167,251 | €271,824 | +€104,573 | +62.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €166,251 | €270,824 | +€104,573 | +62.9% |
| Distributable reserves | 133 | €166,251 | €270,824 | +€104,573 | +62.9% |
| Amounts payable | 17/49 | €90,769 | €94,258 | +€3,489 | +3.8% |
| Amounts payable within one year | 42/48 | €90,769 | €94,258 | +€3,489 | +3.8% |
| Financial debts | 43 | - | €10,000 | +€10,000 | |
| Credit institutions | 430/8 | - | €10,000 | +€10,000 | |
| Trade debts | 44 | €2,560 | €2,837 | +€277 | +10.8% |
| Suppliers | 440/4 | €2,560 | €2,837 | +€277 | +10.8% |
| Taxes, remuneration and social security | 45 | €88,209 | €81,421 | -€6,787 | -7.7% |
| Taxes | 450/3 | €88,209 | €81,421 | -€6,787 | -7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €760 | €4,391 | +€3,630 | +477.6% |
| Other operating charges | 640/8 | €528 | €692 | +€164 | +31.1% |
| Gross operating margin | 9900 | €154,867 | €161,989 | +€7,122 | +4.6% |
| Operating profit (loss) | 9901 | €153,579 | €156,907 | +€3,328 | +2.2% |
| Financial charges | 65/66B | €143 | €906 | +€763 | +534.9% |
| Recurring financial charges | 65 | €143 | €906 | +€763 | +534.9% |
| Profit (loss) for the period before taxes | 9903 | €153,436 | €156,001 | +€2,564 | +1.7% |
| Income taxes | 67/77 | €49,749 | €51,427 | +€1,678 | +3.4% |
| Profit (loss) for the period | 9904 | €103,687 | €104,573 | +€886 | +0.9% |
| Profit (loss) for the period to be appropriated | 9905 | €103,687 | €104,573 | +€886 | +0.9% |
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 3 October 2026 via checked.be.