DVCLEX: 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.
DVCLEX
Largest movements
- Cash +€123,902
up €123,902 (+44.6%), from €278,011 to €401,913
mainly Net result for the year (+€265,018) and Other debts (+€140,753)
- Receivables within one year +€44,311
up €44,311 (+15.7%), from €281,781 to €326,092
of which Trade receivables: +€46,862
- Other debts +€140,753
up €140,753 (+68.1%), from €206,807 to €347,560
- Tax, wage and social debts +€60,600
up €60,600 (+40.8%), from €148,503 to €209,102
of which Taxes: +€76,074
- Trade debts -€19,934
down €19,934 (-20.2%), from €98,488 to €78,554
- Profit (loss) carried forward -€17,923
down €17,923 (-80.7%), from €22,196 to €4,274
- Gross operating margin +€71,955
up €71,955 (+12.2%), from €591,780 to €663,735
- Taxes -€21,355
down €21,355 (-32.0%), from €66,730 to €45,375
- Staff costs +€11,400
up €11,400 (+4.0%), from €288,084 to €299,484
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 | €649,876 | €806,313 | +€156,437 | +24.1% |
| Fixed assets | 21/28 | €77,783 | €70,850 | -€6,933 | -8.9% |
| Tangible fixed assets | 22/27 | €76,339 | €69,406 | -€6,933 | -9.1% |
| Plant, machinery and equipment | 23 | €44,057 | €36,547 | -€7,510 | -17.0% |
| Furniture and vehicles | 24 | €32,088 | €32,859 | +€771 | +2.4% |
| Other tangible fixed assets | 26 | €194 | - | -€194 | |
| Financial fixed assets | 28 | €1,444 | €1,444 | = | 0.0% |
| Current assets | 29/58 | €572,093 | €735,463 | +€163,370 | +28.6% |
| Amounts receivable within one year | 40/41 | €281,781 | €326,092 | +€44,311 | +15.7% |
| Trade receivables | 40 | €258,960 | €305,822 | +€46,862 | +18.1% |
| Other amounts receivable | 41 | €22,821 | €20,270 | -€2,551 | -11.2% |
| Cash at bank and in hand | 54/58 | €278,011 | €401,913 | +€123,902 | +44.6% |
| Deferred charges and accrued income | 490/1 | €12,302 | €7,458 | -€4,843 | -39.4% |
| Total equity and liabilities | 10/49 | €649,876 | €806,313 | +€156,437 | +24.1% |
| Equity | 10/15 | €196,078 | €171,096 | -€24,982 | -12.7% |
| Contributions | 10/11 | €23,259 | €16,199 | -€7,059 | -30.4% |
| Reserves | 13 | €150,623 | €150,623 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,945 | €2,945 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,945 | €2,945 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,999 | €1,999 | = | 0.0% |
| Distributable reserves | 133 | €145,679 | €145,679 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,196 | €4,274 | -€17,923 | -80.7% |
| Amounts payable | 17/49 | €453,798 | €635,217 | +€181,419 | +40.0% |
| Amounts payable within one year | 42/48 | €453,798 | €635,217 | +€181,419 | +40.0% |
| Trade debts | 44 | €98,488 | €78,554 | -€19,934 | -20.2% |
| Suppliers | 440/4 | €98,488 | €78,554 | -€19,934 | -20.2% |
| Taxes, remuneration and social security | 45 | €148,503 | €209,102 | +€60,600 | +40.8% |
| Taxes | 450/3 | €104,737 | €180,811 | +€76,074 | +72.6% |
| Remuneration and social security | 454/9 | €43,766 | €28,291 | -€15,474 | -35.4% |
| Other amounts payable | 47/48 | €206,807 | €347,560 | +€140,753 | +68.1% |
| Remuneration, social security and pensions | 62 | €288,084 | €299,484 | +€11,400 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,865 | €20,788 | +€1,923 | +10.2% |
| Other operating charges | 640/8 | €37,152 | €32,337 | -€4,816 | -13.0% |
| Gross operating margin | 9900 | €591,780 | €663,735 | +€71,955 | +12.2% |
| Operating profit (loss) | 9901 | €247,679 | €311,127 | +€63,448 | +25.6% |
| Financial charges | 65/66B | €686 | €734 | +€48 | +7.0% |
| Recurring financial charges | 65 | €686 | €734 | +€48 | +7.0% |
| Profit (loss) for the period before taxes | 9903 | €246,993 | €310,393 | +€63,400 | +25.7% |
| Income taxes | 67/77 | €66,730 | €45,375 | -€21,355 | -32.0% |
| Profit (loss) for the period | 9904 | €180,263 | €265,018 | +€84,755 | +47.0% |
| Profit (loss) for the period to be appropriated | 9905 | €180,263 | €265,018 | +€84,755 | +47.0% |
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 29 September 2026 via checked.be.