DV COMPANY: 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.
What changed
DV COMPANY
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€9,098
2024 · €15,603-€6,504
Equity
€1.1m
2024 · €1.1m+€9,098
Cash
€190,425
2024 · €105,682+€84,743
Balance sheet total
€21.1m
2024 · €23.6m-€2.5m
Largest movements
Assets
- Tangible fixed assets -€6.2m
down €6.2m (-33.9%), from €18.3m to €12.1m
of which Land and buildings: -€6.2m
- Stocks and contracts +€3.3m
up €3.3m (+186%), from €1.8m to €5.1m
- Receivables within one year +€276,271
new in 2025: €276,271
of which Other amounts receivable: +€249,172
Equity and liabilities
- Current portion of long-term debt -€2.5m
down €2.5m (-30.1%), from €8.2m to €5.7m
- Short-term financial debts -€832,000
no longer reported in 2025 (was €832,000)
of which Other loans: -€700,000
- Debts after one year +€512,079
up €512,079 (+4.0%), from €12.8m to €13.3m
of which Financial debts: +€1.1m
- Other debts +€453,353
up €453,353 (+209%), from €216,765 to €670,117
Income statement
- Gross operating margin -€620,312
down €620,312 (-25.8%), from €2.4m to €1.8m
- Depreciation -€357,766
down €357,766 (-45.8%), from €781,879 to €424,113
- Financial charges -€319,570
down €319,570 (-24.0%), from €1.3m to €1.0m
- Other operating charges +€79,927
up €79,927 (+37.0%), from €215,858 to €295,785
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.
Result 2024
€15,603
Gross operating margin
-€620,312
Staff costs
+€7,063
Depreciation
+€357,766
Other operating charges
-€79,927
Other operating items
+€24,375
Financial income
-€16,702
Financial charges
+€319,570
Taxes
+€1,663
Result 2025
€9,098
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€2.9m
Investment
+€5.8m
Financing
-€2.8m
Cash 2024
€105,682
From operations (derived)
-€2.9m
Net result for the year
+€9,098
Depreciation
+€424,113
Stocks and contracts
-€3.3m
Receivables within one year
-€276,271
Deferred charges and accrued income
-€22,894
Trade debts
-€87,596
Tax, wage and social debts
-€15,197
Advances received
-€83,637
Other debts
+€453,353
Accrued charges and deferred income
+€4,798
Investment (derived)
+€5.8m
Investment in fixed assets (net)
+€5.8m
Financing
-€2.8m
Debts after one year
+€512,079
Current portion of long-term debt
-€2.5m
Short-term financial debts
-€832,000
Cash 2025
€190,425
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,566,908 | €21,064,596 | -€2.5m | -10.6% |
| Fixed assets | 21/28 | €21,149,460 | €14,936,140 | -€6.2m | -29.4% |
| Tangible fixed assets | 22/27 | €18,313,747 | €12,100,427 | -€6.2m | -33.9% |
| Land and buildings | 22 | €18,302,628 | €12,091,218 | -€6.2m | -33.9% |
| Furniture and vehicles | 24 | €11,119 | €9,209 | -€1,910 | -17.2% |
| Financial fixed assets | 28 | €2,835,712 | €2,835,712 | = | 0.0% |
| Current assets | 29/58 | €2,417,448 | €6,128,456 | +€3.7m | +154% |
| Stocks and contracts in progress | 3 | €1,788,935 | €5,116,034 | +€3.3m | +186% |
| Stocks | 30/36 | €1,788,935 | €5,116,034 | +€3.3m | +186% |
| Amounts receivable within one year | 40/41 | - | €276,271 | +€276,271 | |
| Trade receivables | 40 | - | €27,099 | +€27,099 | |
| Other amounts receivable | 41 | - | €249,172 | +€249,172 | |
| Cash at bank and in hand | 54/58 | €105,682 | €190,425 | +€84,743 | +80.2% |
| Deferred charges and accrued income | 490/1 | €522,831 | €545,725 | +€22,894 | +4.4% |
| Total equity and liabilities | 10/49 | €23,566,908 | €21,064,596 | -€2.5m | -10.6% |
| Equity | 10/15 | €1,066,820 | €1,075,918 | +€9,098 | +0.9% |
| Contributions | 10/11 | €1,000,000 | €1,000,000 | = | 0.0% |
| Capital | 10 | €1,000,000 | €1,000,000 | = | 0.0% |
| Issued capital | 100 | €1,000,000 | €1,000,000 | = | 0.0% |
| Reserves | 13 | €50,800 | €60,000 | +€9,200 | +18.1% |
| Non-distributable reserves | 130/1 | €50,800 | €60,000 | +€9,200 | +18.1% |
| Legal reserve | 130 | €50,800 | €60,000 | +€9,200 | +18.1% |
| Profit (loss) carried forward | 14 | €16,020 | €15,918 | -€102 | -0.6% |
| Amounts payable | 17/49 | €22,500,088 | €19,988,677 | -€2.5m | -11.2% |
| Amounts payable after more than one year | 17 | €12,817,837 | €13,329,916 | +€512,079 | +4.0% |
| Financial debts | 170/4 | €11,686,837 | €12,787,117 | +€1.1m | +9.4% |
| Other amounts payable | 178/9 | €1,131,000 | €542,799 | -€588,201 | -52.0% |
| Amounts payable within one year | 42/48 | €9,674,985 | €6,646,698 | -€3.0m | -31.3% |
| Current portion of amounts payable after more than one year | 42 | €8,183,082 | €5,719,872 | -€2.5m | -30.1% |
| Financial debts | 43 | €832,000 | - | -€832,000 | |
| Credit institutions | 430/8 | €132,000 | - | -€132,000 | |
| Other loans | 439 | €700,000 | - | -€700,000 | |
| Trade debts | 44 | €251,089 | €163,493 | -€87,596 | -34.9% |
| Suppliers | 440/4 | €251,089 | €163,493 | -€87,596 | -34.9% |
| Advances received on contracts in progress | 46 | €133,637 | €50,000 | -€83,637 | -62.6% |
| Taxes, remuneration and social security | 45 | €58,412 | €43,215 | -€15,197 | -26.0% |
| Taxes | 450/3 | €58,412 | €38,973 | -€19,440 | -33.3% |
| Remuneration and social security | 454/9 | - | €4,242 | +€4,242 | |
| Other amounts payable | 47/48 | €216,765 | €670,117 | +€453,353 | +209% |
| Accrued charges and deferred income | 492/3 | €7,266 | €12,064 | +€4,798 | +66.0% |
| Non-recurring operating income | 76A | - | €44,500 | +€44,500 | |
| Remuneration, social security and pensions | 62 | €47,441 | €40,378 | -€7,063 | -14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €781,879 | €424,113 | -€357,766 | -45.8% |
| Other operating charges | 640/8 | €215,858 | €295,785 | +€79,927 | +37.0% |
| Non-recurring operating charges | 66A | €24,375 | - | -€24,375 | |
| Gross operating margin | 9900 | €2,401,215 | €1,780,903 | -€620,312 | -25.8% |
| Operating profit (loss) | 9901 | €1,331,662 | €1,020,627 | -€311,035 | -23.4% |
| Financial income | 75/76B | €19,359 | €2,657 | -€16,702 | -86.3% |
| Recurring financial income | 75 | €19,359 | €2,657 | -€16,702 | -86.3% |
| Financial charges | 65/66B | €1,329,141 | €1,009,571 | -€319,570 | -24.0% |
| Recurring financial charges | 65 | €1,329,141 | €1,009,571 | -€319,570 | -24.0% |
| Profit (loss) for the period before taxes | 9903 | €21,880 | €13,713 | -€8,167 | -37.3% |
| Income taxes | 67/77 | €6,277 | €4,615 | -€1,663 | -26.5% |
| Profit (loss) for the period | 9904 | €15,603 | €9,098 | -€6,504 | -41.7% |
| Profit (loss) for the period to be appropriated | 9905 | €15,603 | €9,098 | -€6,504 | -41.7% |
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 30 October 2026 via checked.be.