DV-LEC: 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-LEC
Largest movements
- Current investments -€55,000
down €55,000 (-44.0%), from €125,000 to €70,000
- Stocks and contracts -€20,721
down €20,721 (-50.3%), from €41,231 to €20,510
- Receivables within one year +€19,679
up €19,679 (+185%), from €10,660 to €30,339
of which Trade receivables: +€21,853
- Cash +€9,587
up €9,587 (+20.4%), from €47,023 to €56,609
mainly Current investments (+€55,000) and Net result for the year (+€31,719)
- Debts after one year -€26,944
down €26,944 (-17.7%), from €152,496 to €125,552
of which Other amounts payable: -€15,000
- Other debts -€22,063
down €22,063 (-43.5%), from €50,685 to €28,622
- Reserves +€8,570
up €8,570 (+4.3%), from €198,116 to €206,686
- Advances received -€8,025
down €8,025 (-55.2%), from €14,525 to €6,500
- Gross operating margin -€69,919
down €69,919 (-52.5%), from €133,196 to €63,277
- Taxes -€20,083
down €20,083 (-61.7%), from €32,562 to €12,479
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 | €490,033 | €438,063 | -€51,970 | -10.6% |
| Fixed assets | 21/28 | €258,792 | €254,836 | -€3,956 | -1.5% |
| Intangible fixed assets | 21 | €448 | €328 | -€120 | -26.8% |
| Tangible fixed assets | 22/27 | €258,344 | €254,508 | -€3,836 | -1.5% |
| Land and buildings | 22 | €249,969 | €249,631 | -€338 | -0.1% |
| Plant, machinery and equipment | 23 | €2,150 | €1,652 | -€499 | -23.2% |
| Furniture and vehicles | 24 | €6,225 | €3,225 | -€3,000 | -48.2% |
| Current assets | 29/58 | €231,241 | €183,228 | -€48,014 | -20.8% |
| Stocks and contracts in progress | 3 | €41,231 | €20,510 | -€20,721 | -50.3% |
| Stocks | 30/36 | €41,231 | €20,510 | -€20,721 | -50.3% |
| Amounts receivable within one year | 40/41 | €10,660 | €30,339 | +€19,679 | +185% |
| Trade receivables | 40 | €8,486 | €30,339 | +€21,853 | +258% |
| Other amounts receivable | 41 | €2,174 | - | -€2,174 | |
| Current investments | 50/53 | €125,000 | €70,000 | -€55,000 | -44.0% |
| Cash at bank and in hand | 54/58 | €47,023 | €56,609 | +€9,587 | +20.4% |
| Deferred charges and accrued income | 490/1 | €7,328 | €5,769 | -€1,559 | -21.3% |
| Total equity and liabilities | 10/49 | €490,033 | €438,063 | -€51,970 | -10.6% |
| Equity | 10/15 | €242,369 | €250,939 | +€8,570 | +3.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €198,116 | €206,686 | +€8,570 | +4.3% |
| Distributable reserves | 133 | €198,116 | €206,686 | +€8,570 | +4.3% |
| Profit (loss) carried forward | 14 | €38,054 | €38,054 | = | 0.0% |
| Amounts payable | 17/49 | €247,664 | €187,124 | -€60,540 | -24.4% |
| Amounts payable after more than one year | 17 | €152,496 | €125,552 | -€26,944 | -17.7% |
| Financial debts | 170/4 | €72,496 | €60,552 | -€11,944 | -16.5% |
| Other amounts payable | 178/9 | €80,000 | €65,000 | -€15,000 | -18.8% |
| Amounts payable within one year | 42/48 | €89,248 | €57,242 | -€32,006 | -35.9% |
| Current portion of amounts payable after more than one year | 42 | €11,821 | €11,944 | +€123 | +1.0% |
| Trade debts | 44 | €8,371 | €6,974 | -€1,398 | -16.7% |
| Suppliers | 440/4 | €8,371 | €6,974 | -€1,398 | -16.7% |
| Advances received on contracts in progress | 46 | €14,525 | €6,500 | -€8,025 | -55.2% |
| Taxes, remuneration and social security | 45 | €3,846 | €3,203 | -€643 | -16.7% |
| Taxes | 450/3 | €3,846 | €3,203 | -€643 | -16.7% |
| Other amounts payable | 47/48 | €50,685 | €28,622 | -€22,063 | -43.5% |
| Accrued charges and deferred income | 492/3 | €5,920 | €4,330 | -€1,591 | -26.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,332 | €13,114 | +€781 | +6.3% |
| Other operating charges | 640/8 | €1,786 | €1,780 | -€7 | -0.4% |
| Gross operating margin | 9900 | €133,196 | €63,277 | -€69,919 | -52.5% |
| Operating profit (loss) | 9901 | €119,077 | €48,383 | -€70,693 | -59.4% |
| Financial income | 75/76B | €2,456 | €2,229 | -€228 | -9.3% |
| Recurring financial income | 75 | €2,456 | €2,229 | -€228 | -9.3% |
| Financial charges | 65/66B | €6,241 | €6,414 | +€173 | +2.8% |
| Recurring financial charges | 65 | €6,241 | €6,414 | +€173 | +2.8% |
| Profit (loss) for the period before taxes | 9903 | €115,292 | €44,198 | -€71,094 | -61.7% |
| Income taxes | 67/77 | €32,562 | €12,479 | -€20,083 | -61.7% |
| Profit (loss) for the period | 9904 | €82,730 | €31,719 | -€51,011 | -61.7% |
| Profit (loss) for the period to be appropriated | 9905 | €82,730 | €31,719 | -€51,011 | -61.7% |
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 13 October 2026 via checked.be.