DVEA: 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.
DVEA
Largest movements
- Cash -€161,134
down €161,134 (-63.8%), from €252,625 to €91,491
mainly Current investments (-€130,847) and Contributions, distributions and other (-€94,737)
- Current investments +€130,847
new in 2025: €130,847
- Receivables within one year -€49,364
down €49,364 (-22.1%), from €222,972 to €173,608
of which Trade receivables: -€143,229
- Tangible fixed assets -€30,458
down €30,458 (-5.7%), from €538,212 to €507,754
- Deferred charges and accrued income +€12,051
up €12,051 (+109%), from €11,022 to €23,073
- Reserves -€96,597
down €96,597 (-11.7%), from €822,514 to €725,917
- Other debts +€94,737
new in 2025: €94,737
- Tax, wage and social debts -€39,857
down €39,857 (-99.8%), from €39,955 to €99
- Profit (loss) carried forward -€29,001
new in 2025: -€29,001
- Debts after one year -€28,607
down €28,607 (-26.2%), from €109,241 to €80,635
- Gross operating margin -€196,188
down €196,188 (-86.1%), from €227,800 to €31,613
- Taxes -€113,938
no longer reported in 2025 (was €113,938)
- Financial charges +€15,011
up €15,011 (+87.7%), from €17,117 to €32,129
of which Non-recurring financial charges: +€15,200
- Financial income +€8,379
up €8,379 (+839%), from €999 to €9,378
of which Financial income: +€9,159
- Depreciation -€4,452
down €4,452 (-12.3%), from €36,204 to €31,752
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.
Derived cash bridge
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 | €1,025,046 | €926,776 | -€98,270 | -9.6% |
| Fixed assets | 21/28 | €538,426 | €507,757 | -€30,669 | -5.7% |
| Intangible fixed assets | 21 | €214 | €3 | -€211 | -98.7% |
| Tangible fixed assets | 22/27 | €538,212 | €507,754 | -€30,458 | -5.7% |
| Land and buildings | 22 | €538,212 | €507,754 | -€30,458 | -5.7% |
| Current assets | 29/58 | €486,620 | €419,019 | -€67,601 | -13.9% |
| Amounts receivable within one year | 40/41 | €222,972 | €173,608 | -€49,364 | -22.1% |
| Trade receivables | 40 | €217,008 | €73,779 | -€143,229 | -66.0% |
| Other amounts receivable | 41 | €5,964 | €99,829 | +€93,864 | +1,574% |
| Current investments | 50/53 | - | €130,847 | +€130,847 | |
| Cash at bank and in hand | 54/58 | €252,625 | €91,491 | -€161,134 | -63.8% |
| Deferred charges and accrued income | 490/1 | €11,022 | €23,073 | +€12,051 | +109% |
| Total equity and liabilities | 10/49 | €1,025,046 | €926,776 | -€98,270 | -9.6% |
| Equity | 10/15 | €841,114 | €715,516 | -€125,598 | -14.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €822,514 | €725,917 | -€96,597 | -11.7% |
| Distributable reserves | 133 | €822,514 | €725,917 | -€96,597 | -11.7% |
| Profit (loss) carried forward | 14 | - | -€29,001 | -€29,001 | |
| Amounts payable | 17/49 | €183,932 | €211,260 | +€27,328 | +14.9% |
| Amounts payable after more than one year | 17 | €109,241 | €80,635 | -€28,607 | -26.2% |
| Financial debts | 170/4 | €109,241 | €80,635 | -€28,607 | -26.2% |
| Amounts payable within one year | 42/48 | €74,603 | €130,535 | +€55,933 | +75.0% |
| Current portion of amounts payable after more than one year | 42 | €27,343 | €28,607 | +€1,264 | +4.6% |
| Trade debts | 44 | €7,304 | €7,093 | -€211 | -2.9% |
| Suppliers | 440/4 | €7,304 | €7,093 | -€211 | -2.9% |
| Taxes, remuneration and social security | 45 | €39,955 | €99 | -€39,857 | -99.8% |
| Taxes | 450/3 | €39,955 | €99 | -€39,857 | -99.8% |
| Other amounts payable | 47/48 | - | €94,737 | +€94,737 | |
| Accrued charges and deferred income | 492/3 | €88 | €89 | +€2 | +1.9% |
| Non-recurring operating income | 76A | €8,082 | €15,161 | +€7,079 | +87.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,204 | €31,752 | -€4,452 | -12.3% |
| Other operating charges | 640/8 | €6,253 | €7,970 | +€1,717 | +27.5% |
| Non-recurring operating charges | 66A | €21,873 | - | -€21,873 | |
| Gross operating margin | 9900 | €227,800 | €31,613 | -€196,188 | -86.1% |
| Operating profit (loss) | 9901 | €163,470 | -€8,110 | -€171,580 | |
| Financial income | 75/76B | €999 | €9,378 | +€8,379 | +839% |
| Recurring financial income | 75 | €218 | €9,378 | +€9,159 | +4,197% |
| Non-recurring financial income | 76B | €780 | - | -€780 | |
| Financial charges | 65/66B | €17,117 | €32,129 | +€15,011 | +87.7% |
| Recurring financial charges | 65 | €17,117 | €16,928 | -€189 | -1.1% |
| Non-recurring financial charges | 66B | - | €15,200 | +€15,200 | |
| Profit (loss) for the period before taxes | 9903 | €147,352 | -€30,861 | -€178,212 | |
| Income taxes | 67/77 | €113,938 | - | -€113,938 | |
| Profit (loss) for the period | 9904 | €33,413 | -€30,861 | -€64,274 | |
| Profit (loss) for the period to be appropriated | 9905 | €33,413 | -€30,861 | -€64,274 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.