DV3: 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.
What changed
DV3
NACE 68.110, Buying and selling of own real estate
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€84,838
2024 · €147,759-€62,921
Equity
€3.2m
2024 · €3.1m+€84,838
Cash
€44,727
2024 · €35,240+€9,487
Balance sheet total
€8.3m
2024 · €8.6m-€287,132
Largest movements
Assets
- Receivables within one year -€298,967
down €298,967 (-88.3%), from €338,718 to €39,751
of which Other amounts receivable: -€313,701
Equity and liabilities
- Debts after one year -€414,223
down €414,223 (-9.1%), from €4.5m to €4.1m
Income statement
- Depreciation +€35,780
up €35,780 (+11.0%), from €326,684 to €362,465
- Taxes +€31,510
up €31,510 (+111.9%), from €28,149 to €59,658
- Financial charges +€19,178
up €19,178 (+16.6%), from €115,338 to €134,517
- Staff costs -€18,773
down €18,773 (-8.5%), from €222,024 to €203,252
- Gross operating margin +€12,406
up €12,406 (+1.5%), from €827,148 to €839,554
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
€147,759
Gross operating margin
+€12,406
Staff costs
+€18,773
Depreciation
-€35,780
Other operating charges
-€7,859
Financial income
+€4
Financial charges
-€19,178
Taxes
-€31,510
Deferred taxes and other
+€223
Result 2025
€84,838
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.
From operations
+€800,403
Investment
-€363,743
Financing
-€427,173
Cash 2024
€35,240
From operations (derived)
+€800,403
Net result for the year
+€84,838
Depreciation
+€362,465
Receivables within one year
+€298,967
Deferred charges and accrued income
-€1,071
Provisions
-€24,255
Trade debts
+€62,151
Tax, wage and social debts
+€20,469
Other debts
-€2,396
Accrued charges and deferred income
-€764
Investment (derived)
-€363,743
Investment in fixed assets (net)
-€363,743
Financing
-€427,173
Debts after one year
-€414,223
Current portion of long-term debt
-€12,950
Cash 2025
€44,727
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,609,019 | €8,321,887 | -€287,132 | -3.3% |
| Fixed assets | 21/28 | €8,231,576 | €8,232,854 | +€1,278 | 0.0% |
| Tangible fixed assets | 22/27 | €8,231,576 | €8,232,854 | +€1,278 | 0.0% |
| Land and buildings | 22 | €8,023,769 | €8,022,486 | -€1,283 | 0.0% |
| Furniture and vehicles | 24 | €48,964 | €68,762 | +€19,798 | +40.4% |
| Other tangible fixed assets | 26 | €158,843 | €141,606 | -€17,237 | -10.9% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €377,443 | €89,033 | -€288,410 | -76.4% |
| Amounts receivable within one year | 40/41 | €338,718 | €39,751 | -€298,967 | -88.3% |
| Trade receivables | 40 | €2,375 | €17,108 | +€14,734 | +620.5% |
| Other amounts receivable | 41 | €336,344 | €22,642 | -€313,701 | -93.3% |
| Cash at bank and in hand | 54/58 | €35,240 | €44,727 | +€9,487 | +26.9% |
| Deferred charges and accrued income | 490/1 | €3,484 | €4,555 | +€1,071 | +30.7% |
| Total equity and liabilities | 10/49 | €8,609,019 | €8,321,887 | -€287,132 | -3.3% |
| Equity | 10/15 | €3,087,490 | €3,172,328 | +€84,838 | +2.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €3,068,890 | €3,153,728 | +€84,838 | +2.8% |
| Tax-exempt reserves | 132 | €1,380,450 | €1,306,717 | -€73,733 | -5.3% |
| Distributable reserves | 133 | €1,688,440 | €1,847,011 | +€158,571 | +9.4% |
| Provisions and deferred taxes | 16 | €437,338 | €413,083 | -€24,255 | -5.5% |
| Deferred taxes | 168 | €437,338 | €413,083 | -€24,255 | -5.5% |
| Amounts payable | 17/49 | €5,084,191 | €4,736,477 | -€347,714 | -6.8% |
| Amounts payable after more than one year | 17 | €4,538,594 | €4,124,372 | -€414,223 | -9.1% |
| Financial debts | 170/4 | €4,538,594 | €4,124,372 | -€414,223 | -9.1% |
| Amounts payable within one year | 42/48 | €537,291 | €604,563 | +€67,273 | +12.5% |
| Current portion of amounts payable after more than one year | 42 | €456,340 | €443,389 | -€12,950 | -2.8% |
| Trade debts | 44 | €15,655 | €77,806 | +€62,151 | +397.0% |
| Suppliers | 440/4 | €15,655 | €77,806 | +€62,151 | +397.0% |
| Taxes, remuneration and social security | 45 | €52,354 | €72,823 | +€20,469 | +39.1% |
| Taxes | 450/3 | €26,955 | €45,143 | +€18,188 | +67.5% |
| Remuneration and social security | 454/9 | €25,399 | €27,680 | +€2,280 | +9.0% |
| Other amounts payable | 47/48 | €12,941 | €10,545 | -€2,396 | -18.5% |
| Accrued charges and deferred income | 492/3 | €8,306 | €7,542 | -€764 | -9.2% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €222,024 | €203,252 | -€18,773 | -8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €326,684 | €362,465 | +€35,780 | +11.0% |
| Other operating charges | 640/8 | €11,278 | €19,137 | +€7,859 | +69.7% |
| Gross operating margin | 9900 | €827,148 | €839,554 | +€12,406 | +1.5% |
| Operating profit (loss) | 9901 | €267,161 | €254,700 | -€12,460 | -4.7% |
| Financial income | 75/76B | €53 | €57 | +€4 | +7.8% |
| Recurring financial income | 75 | €53 | €57 | +€4 | +7.8% |
| Financial charges | 65/66B | €115,338 | €134,517 | +€19,178 | +16.6% |
| Recurring financial charges | 65 | €115,338 | €134,517 | +€19,178 | +16.6% |
| Profit (loss) for the period before taxes | 9903 | €151,876 | €120,241 | -€31,634 | -20.8% |
| Transfer from deferred taxes | 780 | €24,032 | €24,255 | +€223 | +0.9% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €28,149 | €59,658 | +€31,510 | +111.9% |
| Profit (loss) for the period | 9904 | €147,759 | €84,838 | -€62,921 | -42.6% |
| Transfer from tax-exempt reserves | 789 | €66,313 | €73,733 | +€7,420 | +11.2% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €214,072 | €158,571 | -€55,501 | -25.9% |
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.