DVELUP: 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.
DVELUP
Largest movements
- Cash +€187,125
up €187,125 (+145%), from €128,801 to €315,926
mainly Net result for the year (+€198,707) and Current investments (+€101,509)
- Receivables within one year +€109,733
up €109,733 (+64.6%), from €169,812 to €279,545
of which Trade receivables: +€97,832
- Current investments -€101,509
no longer reported in 2025 (was €101,509)
- Tangible fixed assets -€84,025
no longer reported in 2025 (was €84,025)
of which Furniture and vehicles: -€79,379
- Profit (loss) carried forward +€198,707
new in 2025: €198,707
- Reserves -€79,038
down €79,038 (-35.6%), from €222,202 to €143,164
of which Distributable reserves: -€77,179
- Debts after one year -€55,633
no longer reported in 2025 (was €55,633)
- Trade debts +€35,993
up €35,993 (+28.3%), from €127,034 to €163,027
- Tax, wage and social debts +€25,659
up €25,659 (+72.9%), from €35,175 to €60,834
- Gross operating margin +€160,490
up €160,490 (+140%), from €114,938 to €275,428
- Taxes +€37,134
up €37,134 (+145%), from €25,672 to €62,806
- Financial income +€18,350
new in 2025: €18,350
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 | €484,146 | €598,304 | +€114,158 | +23.6% |
| Fixed assets | 21/28 | €84,025 | €2,570 | -€81,455 | -96.9% |
| Intangible fixed assets | 21 | - | €2,570 | +€2,570 | |
| Tangible fixed assets | 22/27 | €84,025 | - | -€84,025 | |
| Plant, machinery and equipment | 23 | €433 | - | -€433 | |
| Furniture and vehicles | 24 | €79,379 | - | -€79,379 | |
| Other tangible fixed assets | 26 | €4,212 | - | -€4,212 | |
| Current assets | 29/58 | €400,122 | €595,734 | +€195,612 | +48.9% |
| Amounts receivable within one year | 40/41 | €169,812 | €279,545 | +€109,733 | +64.6% |
| Trade receivables | 40 | €169,785 | €267,617 | +€97,832 | +57.6% |
| Other amounts receivable | 41 | €27 | €11,928 | +€11,901 | +43,769% |
| Current investments | 50/53 | €101,509 | - | -€101,509 | |
| Cash at bank and in hand | 54/58 | €128,801 | €315,926 | +€187,125 | +145% |
| Deferred charges and accrued income | 490/1 | - | €263 | +€263 | |
| Total equity and liabilities | 10/49 | €484,146 | €598,304 | +€114,158 | +23.6% |
| Equity | 10/15 | €240,700 | €360,368 | +€119,669 | +49.7% |
| Contributions | 10/11 | €18,497 | €18,497 | -€0 | 0.0% |
| Capital | 10 | €18,497 | - | -€18,497 | |
| Issued capital | 100 | €18,497 | - | -€18,497 | |
| Reserves | 13 | €222,202 | €143,164 | -€79,038 | -35.6% |
| Non-distributable reserves | 130/1 | €1,859 | - | -€1,859 | |
| Legal reserve | 130 | €1,859 | - | -€1,859 | |
| Distributable reserves | 133 | €220,343 | €143,164 | -€77,179 | -35.0% |
| Profit (loss) carried forward | 14 | - | €198,707 | +€198,707 | |
| Amounts payable | 17/49 | €243,447 | €237,936 | -€5,511 | -2.3% |
| Amounts payable after more than one year | 17 | €55,633 | - | -€55,633 | |
| Financial debts | 170/4 | €55,633 | - | -€55,633 | |
| Amounts payable within one year | 42/48 | €175,444 | €237,936 | +€62,492 | +35.6% |
| Current portion of amounts payable after more than one year | 42 | €9,206 | - | -€9,206 | |
| Financial debts | 43 | - | €14,075 | +€14,075 | |
| Credit institutions | 430/8 | - | €14,075 | +€14,075 | |
| Trade debts | 44 | €127,034 | €163,027 | +€35,993 | +28.3% |
| Suppliers | 440/4 | €127,034 | €163,027 | +€35,993 | +28.3% |
| Taxes, remuneration and social security | 45 | €35,175 | €60,834 | +€25,659 | +72.9% |
| Taxes | 450/3 | €35,175 | €60,834 | +€25,659 | +72.9% |
| Other amounts payable | 47/48 | €4,029 | - | -€4,029 | |
| Accrued charges and deferred income | 492/3 | €12,370 | - | -€12,370 | |
| Non-recurring operating income | 76A | - | €27,148 | +€27,148 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,619 | €17,288 | -€1,331 | -7.2% |
| Other operating charges | 640/8 | €4,046 | €2,142 | -€1,904 | -47.1% |
| Non-recurring operating charges | 66A | - | €9,568 | +€9,568 | |
| Gross operating margin | 9900 | €114,938 | €275,428 | +€160,490 | +140% |
| Operating profit (loss) | 9901 | €92,273 | €246,430 | +€154,157 | +167% |
| Financial income | 75/76B | - | €18,350 | +€18,350 | |
| Recurring financial income | 75 | - | €18,350 | +€18,350 | |
| Financial charges | 65/66B | €5,197 | €3,267 | -€1,930 | -37.1% |
| Recurring financial charges | 65 | €5,197 | €3,267 | -€1,930 | -37.1% |
| Profit (loss) for the period before taxes | 9903 | €87,076 | €261,513 | +€174,437 | +200% |
| Income taxes | 67/77 | €25,672 | €62,806 | +€37,134 | +145% |
| Profit (loss) for the period | 9904 | €61,404 | €198,707 | +€137,303 | +224% |
| Profit (loss) for the period to be appropriated | 9905 | €61,404 | €198,707 | +€137,303 | +224% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.