DVC FINANCE: what changed
What changed
DVC FINANCE
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
-€1,795
2024 · -€5,904+€4,109
Equity
€597,978
2024 · €599,773-€1,795
Cash
€53,589
2024 · €148,686-€95,097
Balance sheet total
€615,904
2024 · €627,167-€11,262
Largest movements
Assets
- Tangible fixed assets +€121,118
up €121,118 (+34.9%), from €346,669 to €467,787
of which Land and buildings: +€139,600
- Cash -€95,097
down €95,097 (-64.0%), from €148,686 to €53,589
mainly Investment in fixed assets (net) (-€142,031) and Debts after one year (-€6,609)
- Receivables within one year -€37,180
down €37,180 (-56.4%), from €65,953 to €28,773
of which Other amounts receivable: -€30,083
Equity and liabilities
- Debts after one year -€6,609
no longer reported in 2025 (was €6,609)
Income statement
- Gross operating margin +€3,828
up €3,828 (+21.1%), from €18,133 to €21,962
- Taxes +€694
up €694 (+409%), from €170 to €863
- Other operating charges -€433
down €433 (-15.8%), from €2,743 to €2,310
- Financial income +€236
up €236 (+41.8%), from €565 to €802
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€5,904
Gross operating margin
+€3,828
Depreciation
+€158
Other operating charges
+€433
Financial income
+€236
Financial charges
+€147
Taxes
-€694
Result 2025
-€1,795
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€58,085
Investment
-€142,031
Financing
-€11,152
Cash 2024
€148,686
From operations (derived)
+€58,085
Net result for the year
-€1,795
Depreciation
+€20,913
Receivables within one year
+€37,180
Deferred charges and accrued income
+€103
Trade debts
+€1,099
Tax, wage and social debts
+€586
Investment (derived)
-€142,031
Investment in fixed assets (net)
-€142,031
Financing
-€11,152
Debts after one year
-€6,609
Current portion of long-term debt
-€4,543
Cash 2025
€53,589
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €627,167 | €615,904 | -€11,262 | -1.8% |
| Fixed assets | 21/28 | €411,674 | €532,792 | +€121,118 | +29.4% |
| Tangible fixed assets | 22/27 | €346,669 | €467,787 | +€121,118 | +34.9% |
| Land and buildings | 22 | €303,578 | €443,178 | +€139,600 | +46.0% |
| Plant, machinery and equipment | 23 | €2,263 | €515 | -€1,748 | -77.2% |
| Furniture and vehicles | 24 | €40,827 | €24,094 | -€16,733 | -41.0% |
| Financial fixed assets | 28 | €65,005 | €65,005 | = | 0.0% |
| Current assets | 29/58 | €215,493 | €83,112 | -€132,380 | -61.4% |
| Amounts receivable within one year | 40/41 | €65,953 | €28,773 | -€37,180 | -56.4% |
| Trade receivables | 40 | €15,301 | €8,204 | -€7,097 | -46.4% |
| Other amounts receivable | 41 | €50,652 | €20,569 | -€30,083 | -59.4% |
| Cash at bank and in hand | 54/58 | €148,686 | €53,589 | -€95,097 | -64.0% |
| Deferred charges and accrued income | 490/1 | €854 | €751 | -€103 | -12.0% |
| Total equity and liabilities | 10/49 | €627,167 | €615,904 | -€11,262 | -1.8% |
| Equity | 10/15 | €599,773 | €597,978 | -€1,795 | -0.3% |
| Contributions | 10/11 | €293,242 | €293,242 | = | 0.0% |
| Reserves | 13 | €172,360 | €172,360 | = | 0.0% |
| Distributable reserves | 133 | €172,360 | €172,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | €134,171 | €132,376 | -€1,795 | -1.3% |
| Amounts payable | 17/49 | €27,394 | €17,926 | -€9,467 | -34.6% |
| Amounts payable after more than one year | 17 | €6,609 | - | -€6,609 | |
| Financial debts | 170/4 | €6,609 | - | -€6,609 | |
| Amounts payable within one year | 42/48 | €20,425 | €17,567 | -€2,858 | -14.0% |
| Current portion of amounts payable after more than one year | 42 | €11,152 | €6,609 | -€4,543 | -40.7% |
| Trade debts | 44 | €9,273 | €10,373 | +€1,099 | +11.9% |
| Suppliers | 440/4 | €9,273 | €10,373 | +€1,099 | +11.9% |
| Taxes, remuneration and social security | 45 | - | €586 | +€586 | |
| Taxes | 450/3 | - | €586 | +€586 | |
| Accrued charges and deferred income | 492/3 | €359 | €359 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,070 | €20,913 | -€158 | -0.7% |
| Other operating charges | 640/8 | €2,743 | €2,310 | -€433 | -15.8% |
| Gross operating margin | 9900 | €18,133 | €21,962 | +€3,828 | +21.1% |
| Operating profit (loss) | 9901 | -€5,680 | -€1,261 | +€4,419 | +77.8% |
| Financial income | 75/76B | €565 | €802 | +€236 | +41.8% |
| Recurring financial income | 75 | €565 | €802 | +€236 | +41.8% |
| Financial charges | 65/66B | €620 | €473 | -€147 | -23.7% |
| Recurring financial charges | 65 | €620 | €473 | -€147 | -23.7% |
| Profit (loss) for the period before taxes | 9903 | -€5,735 | -€932 | +€4,803 | +83.7% |
| Income taxes | 67/77 | €170 | €863 | +€694 | +409% |
| Profit (loss) for the period | 9904 | -€5,904 | -€1,795 | +€4,109 | +69.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,904 | -€1,795 | +€4,109 | +69.6% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.