DV & W: 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 & W
Largest movements
- Stocks and contracts -€5,129
down €5,129 (-4.8%), from €107,758 to €102,629
- Tangible fixed assets +€5,003
up €5,003 (+9.8%), from €50,999 to €56,002
of which Land and buildings: +€5,496
- Cash +€3,935
up €3,935 (+44.1%), from €8,916 to €12,852
mainly Other debts (+€17,064) and Depreciation (+€6,198)
- Receivables within one year +€3,179
up €3,179 (+25.4%), from €12,521 to €15,699
- Debts after one year -€17,328
down €17,328 (-92.1%), from €18,805 to €1,478
- Other debts +€17,064
up €17,064 (+14.4%), from €118,100 to €135,164
- Tax, wage and social debts +€5,586
up €5,586 (+126.7%), from €4,408 to €9,994
- Profit (loss) carried forward +€4,333
up €4,333 (+135.2%), from €3,205 to €7,538
- Trade debts -€3,390
down €3,390 (-23.6%), from €14,370 to €10,980
- Gross operating margin +€6,171
up €6,171 (+67.9%), from €9,088 to €15,259
- Taxes +€974
up €974 (+216.1%), from €451 to €1,424
- Financial charges -€737
down €737 (-35.4%), from €2,082 to €1,344
- Depreciation +€265
up €265 (+4.5%), from €5,933 to €6,198
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 | €180,487 | €187,481 | +€6,994 | +3.9% |
| Fixed assets | 21/28 | €50,999 | €56,002 | +€5,003 | +9.8% |
| Tangible fixed assets | 22/27 | €50,999 | €56,002 | +€5,003 | +9.8% |
| Land and buildings | 22 | €48,828 | €54,323 | +€5,496 | +11.3% |
| Furniture and vehicles | 24 | €2,171 | €1,679 | -€493 | -22.7% |
| Current assets | 29/58 | €129,488 | €131,479 | +€1,991 | +1.5% |
| Stocks and contracts in progress | 3 | €107,758 | €102,629 | -€5,129 | -4.8% |
| Stocks | 30/36 | €107,758 | €102,629 | -€5,129 | -4.8% |
| Amounts receivable within one year | 40/41 | €12,521 | €15,699 | +€3,179 | +25.4% |
| Trade receivables | 40 | €12,521 | €15,699 | +€3,179 | +25.4% |
| Cash at bank and in hand | 54/58 | €8,916 | €12,852 | +€3,935 | +44.1% |
| Deferred charges and accrued income | 490/1 | €293 | €299 | +€6 | +2.0% |
| Total equity and liabilities | 10/49 | €180,487 | €187,481 | +€6,994 | +3.9% |
| Equity | 10/15 | €8,205 | €12,538 | +€4,333 | +52.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,205 | €7,538 | +€4,333 | +135.2% |
| Amounts payable | 17/49 | €172,282 | €174,943 | +€2,662 | +1.5% |
| Amounts payable after more than one year | 17 | €18,805 | €1,478 | -€17,328 | -92.1% |
| Financial debts | 170/4 | €18,805 | €1,478 | -€17,328 | -92.1% |
| Amounts payable within one year | 42/48 | €153,476 | €173,466 | +€19,989 | +13.0% |
| Current portion of amounts payable after more than one year | 42 | €16,597 | €17,328 | +€730 | +4.4% |
| Trade debts | 44 | €14,370 | €10,980 | -€3,390 | -23.6% |
| Suppliers | 440/4 | €14,370 | €10,980 | -€3,390 | -23.6% |
| Taxes, remuneration and social security | 45 | €4,408 | €9,994 | +€5,586 | +126.7% |
| Taxes | 450/3 | €4,408 | €9,994 | +€5,586 | +126.7% |
| Other amounts payable | 47/48 | €118,100 | €135,164 | +€17,064 | +14.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,933 | €6,198 | +€265 | +4.5% |
| Other operating charges | 640/8 | €150 | €294 | +€144 | +96.1% |
| Gross operating margin | 9900 | €9,088 | €15,259 | +€6,171 | +67.9% |
| Operating profit (loss) | 9901 | €3,004 | €8,767 | +€5,762 | +191.8% |
| Financial income | 75/76B | €0 | €0 | +€0 | +275.0% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +275.0% |
| Financial charges | 65/66B | €2,082 | €1,344 | -€737 | -35.4% |
| Recurring financial charges | 65 | €2,082 | €1,344 | -€737 | -35.4% |
| Profit (loss) for the period before taxes | 9903 | €923 | €7,423 | +€6,500 | +704.4% |
| Income taxes | 67/77 | €451 | €1,424 | +€974 | +216.1% |
| Profit (loss) for the period | 9904 | €472 | €5,999 | +€5,526 | +1170.3% |
| Profit (loss) for the period to be appropriated | 9905 | €472 | €5,999 | +€5,526 | +1170.3% |
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 9 October 2026 via checked.be.