DVC: 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
DVC
NACE 29.310, Manufacture of motor vehicles, trailers and semi-trailers
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€61,411
2024 · €11,606+€49,805
Equity
€1.7m
2024 · €1.6m+€40,880
Cash
€110,579
2024 · €106,369+€4,210
Balance sheet total
€4.6m
2024 · €4.8m-€189,270
Largest movements
Assets
- Receivables within one year -€415,803
down €415,803 (-46.8%), from €889,065 to €473,262
of which Trade receivables: -€384,421
- Intangible fixed assets +€153,338
up €153,338 (+48.6%), from €315,816 to €469,154
- Stocks and contracts +€56,924
up €56,924 (+5.4%), from €1.1m to €1.1m
Equity and liabilities
- Short-term financial debts -€132,914
down €132,914 (-32.4%), from €409,641 to €276,726
- Trade debts -€106,620
down €106,620 (-16.4%), from €649,053 to €542,433
- Profit (loss) carried forward +€61,411
up €61,411 (+5.2%), from €1.2m to €1.2m
- Tax, wage and social debts -€48,443
down €48,443 (-25.3%), from €191,300 to €142,857
of which Taxes: -€35,689
Income statement
- Depreciation +€54,113
up €54,113 (+19.1%), from €283,980 to €338,094
- Staff costs -€45,279
down €45,279 (-2.8%), from €1.6m to €1.6m
- Financial charges -€35,081
down €35,081 (-22.3%), from €157,360 to €122,279
- Other operating charges -€31,559
down €31,559 (-70.5%), from €44,757 to €13,198
- Gross operating margin +€27,223
up €27,223 (+1.3%), from €2.1m to €2.1m
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
€11,606
Gross operating margin
+€27,223
Staff costs
+€45,279
Depreciation
-€54,113
Other operating charges
+€31,559
Financial income
-€16,356
Financial charges
+€35,081
Taxes
-€18,867
Result 2025
€61,411
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
+€618,805
Investment
-€499,665
Financing
-€114,931
Cash 2024
€106,369
From operations (derived)
+€618,805
Net result for the year
+€61,411
Depreciation
+€338,094
Stocks and contracts
-€56,924
Receivables within one year
+€415,803
Deferred charges and accrued income
-€3,829
Trade debts
-€106,620
Tax, wage and social debts
-€48,443
Other debts
+€30,788
Accrued charges and deferred income
-€11,475
Investment (derived)
-€499,665
Investment in fixed assets (net)
-€499,665
Financing
-€114,931
Debts after one year
-€4,546
Current portion of long-term debt
+€43,061
Short-term financial debts
-€132,914
Contributions, distributions and other
-€20,531
Cash 2025
€110,579
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,755,555 | €4,566,285 | -€189,270 | -4.0% |
| Fixed assets | 21/28 | €2,687,517 | €2,849,088 | +€161,571 | +6.0% |
| Intangible fixed assets | 21 | €315,816 | €469,154 | +€153,338 | +48.6% |
| Tangible fixed assets | 22/27 | €2,371,701 | €2,379,933 | +€8,233 | +0.3% |
| Land and buildings | 22 | €2,114,801 | €1,997,769 | -€117,032 | -5.5% |
| Plant, machinery and equipment | 23 | €206,328 | €347,434 | +€141,106 | +68.4% |
| Furniture and vehicles | 24 | €50,571 | €34,731 | -€15,841 | -31.3% |
| Current assets | 29/58 | €2,068,039 | €1,717,198 | -€350,841 | -17.0% |
| Stocks and contracts in progress | 3 | €1,054,558 | €1,111,482 | +€56,924 | +5.4% |
| Stocks | 30/36 | €1,054,558 | €1,111,482 | +€56,924 | +5.4% |
| Amounts receivable within one year | 40/41 | €889,065 | €473,262 | -€415,803 | -46.8% |
| Trade receivables | 40 | €780,587 | €396,166 | -€384,421 | -49.2% |
| Other amounts receivable | 41 | €108,478 | €77,096 | -€31,382 | -28.9% |
| Cash at bank and in hand | 54/58 | €106,369 | €110,579 | +€4,210 | +4.0% |
| Deferred charges and accrued income | 490/1 | €18,046 | €21,875 | +€3,829 | +21.2% |
| Total equity and liabilities | 10/49 | €4,755,555 | €4,566,285 | -€189,270 | -4.0% |
| Equity | 10/15 | €1,644,739 | €1,685,619 | +€40,880 | +2.5% |
| Contributions | 10/11 | €62,009 | €62,009 | = | 0.0% |
| Capital | 10 | €62,009 | €62,009 | = | 0.0% |
| Issued capital | 100 | €62,009 | €62,009 | = | 0.0% |
| Reserves | 13 | €6,201 | €6,201 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,201 | €6,201 | = | 0.0% |
| Legal reserve | 130 | €6,201 | €6,201 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,181,032 | €1,242,443 | +€61,411 | +5.2% |
| Investment grants | 15 | €395,497 | €374,965 | -€20,531 | -5.2% |
| Amounts payable | 17/49 | €3,110,817 | €2,880,667 | -€230,150 | -7.4% |
| Amounts payable after more than one year | 17 | €1,605,748 | €1,601,202 | -€4,546 | -0.3% |
| Financial debts | 170/4 | €1,605,748 | €1,601,202 | -€4,546 | -0.3% |
| Amounts payable within one year | 42/48 | €1,493,563 | €1,279,434 | -€214,129 | -14.3% |
| Current portion of amounts payable after more than one year | 42 | €129,336 | €172,397 | +€43,061 | +33.3% |
| Financial debts | 43 | €409,641 | €276,726 | -€132,914 | -32.4% |
| Credit institutions | 430/8 | €409,641 | €276,726 | -€132,914 | -32.4% |
| Trade debts | 44 | €649,053 | €542,433 | -€106,620 | -16.4% |
| Suppliers | 440/4 | €649,053 | €542,433 | -€106,620 | -16.4% |
| Taxes, remuneration and social security | 45 | €191,300 | €142,857 | -€48,443 | -25.3% |
| Taxes | 450/3 | €50,360 | €14,671 | -€35,689 | -70.9% |
| Remuneration and social security | 454/9 | €140,940 | €128,186 | -€12,754 | -9.0% |
| Other amounts payable | 47/48 | €114,232 | €145,021 | +€30,788 | +27.0% |
| Accrued charges and deferred income | 492/3 | €11,506 | €31 | -€11,475 | -99.7% |
| Remuneration, social security and pensions | 62 | €1,640,814 | €1,595,535 | -€45,279 | -2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €283,980 | €338,094 | +€54,113 | +19.1% |
| Other operating charges | 640/8 | €44,757 | €13,198 | -€31,559 | -70.5% |
| Gross operating margin | 9900 | €2,092,650 | €2,119,873 | +€27,223 | +1.3% |
| Operating profit (loss) | 9901 | €123,099 | €173,046 | +€49,947 | +40.6% |
| Financial income | 75/76B | €49,246 | €32,890 | -€16,356 | -33.2% |
| Recurring financial income | 75 | €49,246 | €32,890 | -€16,356 | -33.2% |
| Financial charges | 65/66B | €157,360 | €122,279 | -€35,081 | -22.3% |
| Recurring financial charges | 65 | €157,360 | €122,279 | -€35,081 | -22.3% |
| Profit (loss) for the period before taxes | 9903 | €14,985 | €83,657 | +€68,672 | +458.3% |
| Income taxes | 67/77 | €3,379 | €22,246 | +€18,867 | +558.4% |
| Profit (loss) for the period | 9904 | €11,606 | €61,411 | +€49,805 | +429.1% |
| Profit (loss) for the period to be appropriated | 9905 | €11,606 | €61,411 | +€49,805 | +429.1% |
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 2 October 2026 via checked.be.