DVACO: 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.
DVACO
Largest movements
- Receivables within one year +€92,313
up €92,313 (+99.4%), from €92,839 to €185,153
of which Trade receivables: +€91,515
- Cash +€51,928
up €51,928 (+38.4%), from €135,393 to €187,321
mainly Trade debts (+€124,643) and Depreciation (+€87,339)
- Tangible fixed assets +€25,296
up €25,296 (+7.7%), from €330,154 to €355,451
of which Furniture and vehicles: +€45,122
- Stocks and contracts +€11,323
up €11,323 (+13.0%), from €86,849 to €98,171
of which Contracts in progress: +€9,949
- Trade debts +€124,643
up €124,643 (+211.2%), from €59,028 to €183,670
- Reserves +€49,902
up €49,902 (+13.8%), from €360,727 to €410,628
- Debts after one year +€16,933
up €16,933 (+14.4%), from €117,384 to €134,316
- Staff costs +€61,024
up €61,024 (+43.3%), from €140,963 to €201,987
- Gross operating margin +€45,998
up €45,998 (+14.5%), from €317,948 to €363,945
- Taxes -€6,458
down €6,458 (-24.7%), from €26,140 to €19,683
- Depreciation +€4,031
up €4,031 (+4.8%), from €83,308 to €87,339
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 | €655,411 | €839,356 | +€183,944 | +28.1% |
| Fixed assets | 21/28 | €337,221 | €362,382 | +€25,161 | +7.5% |
| Tangible fixed assets | 22/27 | €330,154 | €355,451 | +€25,296 | +7.7% |
| Land and buildings | 22 | €186,944 | €173,611 | -€13,333 | -7.1% |
| Plant, machinery and equipment | 23 | €37,011 | €30,519 | -€6,492 | -17.5% |
| Furniture and vehicles | 24 | €106,199 | €151,321 | +€45,122 | +42.5% |
| Financial fixed assets | 28 | €7,066 | €6,931 | -€135 | -1.9% |
| Current assets | 29/58 | €318,191 | €476,974 | +€158,783 | +49.9% |
| Stocks and contracts in progress | 3 | €86,849 | €98,171 | +€11,323 | +13.0% |
| Stocks | 30/36 | €6,452 | €7,825 | +€1,374 | +21.3% |
| Contracts in progress | 37 | €80,397 | €90,346 | +€9,949 | +12.4% |
| Amounts receivable within one year | 40/41 | €92,839 | €185,153 | +€92,313 | +99.4% |
| Trade receivables | 40 | €89,358 | €180,873 | +€91,515 | +102.4% |
| Other amounts receivable | 41 | €3,481 | €4,280 | +€798 | +22.9% |
| Cash at bank and in hand | 54/58 | €135,393 | €187,321 | +€51,928 | +38.4% |
| Deferred charges and accrued income | 490/1 | €3,110 | €6,329 | +€3,218 | +103.5% |
| Total equity and liabilities | 10/49 | €655,411 | €839,356 | +€183,944 | +28.1% |
| Equity | 10/15 | €439,727 | €489,628 | +€49,902 | +11.3% |
| Contributions | 10/11 | €79,000 | €79,000 | = | 0.0% |
| Reserves | 13 | €360,727 | €410,628 | +€49,902 | +13.8% |
| Distributable reserves | 133 | €360,727 | €410,628 | +€49,902 | +13.8% |
| Amounts payable | 17/49 | €215,685 | €349,727 | +€134,043 | +62.1% |
| Amounts payable after more than one year | 17 | €117,384 | €134,316 | +€16,933 | +14.4% |
| Financial debts | 170/4 | €117,384 | €134,316 | +€16,933 | +14.4% |
| Amounts payable within one year | 42/48 | €98,301 | €215,411 | +€117,110 | +119.1% |
| Current portion of amounts payable after more than one year | 42 | €15,723 | €21,325 | +€5,602 | +35.6% |
| Trade debts | 44 | €59,028 | €183,670 | +€124,643 | +211.2% |
| Suppliers | 440/4 | €59,028 | €183,670 | +€124,643 | +211.2% |
| Taxes, remuneration and social security | 45 | €15,566 | €7,698 | -€7,868 | -50.5% |
| Taxes | 450/3 | €10,105 | - | -€10,105 | |
| Remuneration and social security | 454/9 | €5,461 | €7,698 | +€2,236 | +40.9% |
| Other amounts payable | 47/48 | €7,984 | €2,718 | -€5,266 | -66.0% |
| Non-recurring operating income | 76A | - | €27,432 | +€27,432 | |
| Remuneration, social security and pensions | 62 | €140,963 | €201,987 | +€61,024 | +43.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €83,308 | €87,339 | +€4,031 | +4.8% |
| Other operating charges | 640/8 | €2,255 | €3,239 | +€984 | +43.7% |
| Gross operating margin | 9900 | €317,948 | €363,945 | +€45,998 | +14.5% |
| Operating profit (loss) | 9901 | €91,422 | €71,381 | -€20,041 | -21.9% |
| Financial income | 75/76B | €3,837 | €2,646 | -€1,191 | -31.0% |
| Recurring financial income | 75 | €3,837 | €2,646 | -€1,191 | -31.0% |
| Financial charges | 65/66B | €3,558 | €4,442 | +€885 | +24.9% |
| Recurring financial charges | 65 | €3,558 | €4,442 | +€885 | +24.9% |
| Profit (loss) for the period before taxes | 9903 | €91,701 | €69,584 | -€22,117 | -24.1% |
| Income taxes | 67/77 | €26,140 | €19,683 | -€6,458 | -24.7% |
| Profit (loss) for the period | 9904 | €65,561 | €49,902 | -€15,660 | -23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €65,561 | €49,902 | -€15,660 | -23.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.