DVF CUVE: 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.
DVF CUVE
Largest movements
- Tangible fixed assets +€87,236
up €87,236 (+139%), from €62,587 to €149,824
of which Assets under construction and advance payments: +€101,568
- Cash +€63,478
up €63,478 (+29.1%), from €217,806 to €281,284
mainly Debts after one year (+€82,409) and Net result for the year (+€66,845)
- Receivables within one year -€62,386
down €62,386 (-69.6%), from €89,678 to €27,293
of which Trade receivables: -€38,883
- Debts after one year +€82,409
up €82,409 (+320%), from €25,716 to €108,125
- Reserves -€44,089
down €44,089 (-36.4%), from €121,057 to €76,968
- Advances received +€31,279
up €31,279 (+85.6%), from €36,520 to €67,799
- Tax, wage and social debts +€15,959
up €15,959 (+65.1%), from €24,515 to €40,474
of which Remuneration and social security: +€11,369
- Other debts +€5,563
up €5,563 (+5.3%), from €105,896 to €111,460
- Staff costs +€23,283
up €23,283 (+14.7%), from €158,823 to €182,105
- Gross operating margin +€13,028
up €13,028 (+4.7%), from €279,263 to €292,291
- Financial income +€4,478
up €4,478 (+1,405%), from €319 to €4,796
- Depreciation +€4,159
up €4,159 (+24.9%), from €16,693 to €20,851
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 | €408,996 | €498,284 | +€89,288 | +21.8% |
| Fixed assets | 21/28 | €64,587 | €151,775 | +€87,188 | +135% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €62,587 | €149,824 | +€87,236 | +139% |
| Plant, machinery and equipment | 23 | €5,897 | €6,676 | +€780 | +13.2% |
| Furniture and vehicles | 24 | €52,575 | €37,940 | -€14,635 | -27.8% |
| Other tangible fixed assets | 26 | €4,116 | €3,639 | -€476 | -11.6% |
| Assets under construction and advance payments | 27 | - | €101,568 | +€101,568 | |
| Financial fixed assets | 28 | €2,000 | €1,951 | -€49 | -2.4% |
| Current assets | 29/58 | €344,409 | €346,509 | +€2,100 | +0.6% |
| Stocks and contracts in progress | 3 | €26,845 | €26,560 | -€285 | -1.1% |
| Stocks | 30/36 | €26,845 | €26,560 | -€285 | -1.1% |
| Amounts receivable within one year | 40/41 | €89,678 | €27,293 | -€62,386 | -69.6% |
| Trade receivables | 40 | €62,793 | €23,910 | -€38,883 | -61.9% |
| Other amounts receivable | 41 | €26,886 | €3,383 | -€23,503 | -87.4% |
| Cash at bank and in hand | 54/58 | €217,806 | €281,284 | +€63,478 | +29.1% |
| Deferred charges and accrued income | 490/1 | €10,079 | €11,372 | +€1,293 | +12.8% |
| Total equity and liabilities | 10/49 | €408,996 | €498,284 | +€89,288 | +21.8% |
| Equity | 10/15 | €139,657 | €95,568 | -€44,089 | -31.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €121,057 | €76,968 | -€44,089 | -36.4% |
| Distributable reserves | 133 | €121,057 | €76,968 | -€44,089 | -36.4% |
| Amounts payable | 17/49 | €269,339 | €402,716 | +€133,377 | +49.5% |
| Amounts payable after more than one year | 17 | €25,716 | €108,125 | +€82,409 | +320% |
| Financial debts | 170/4 | €25,716 | €108,125 | +€82,409 | +320% |
| Amounts payable within one year | 42/48 | €243,623 | €294,591 | +€50,968 | +20.9% |
| Current portion of amounts payable after more than one year | 42 | €9,614 | €9,991 | +€377 | +3.9% |
| Financial debts | 43 | €901 | €1,330 | +€429 | +47.7% |
| Credit institutions | 430/8 | €901 | €1,330 | +€429 | +47.7% |
| Trade debts | 44 | €66,177 | €63,538 | -€2,639 | -4.0% |
| Suppliers | 440/4 | €66,177 | €63,538 | -€2,639 | -4.0% |
| Advances received on contracts in progress | 46 | €36,520 | €67,799 | +€31,279 | +85.6% |
| Taxes, remuneration and social security | 45 | €24,515 | €40,474 | +€15,959 | +65.1% |
| Taxes | 450/3 | €6,632 | €11,222 | +€4,590 | +69.2% |
| Remuneration and social security | 454/9 | €17,883 | €29,252 | +€11,369 | +63.6% |
| Other amounts payable | 47/48 | €105,896 | €111,460 | +€5,563 | +5.3% |
| Remuneration, social security and pensions | 62 | €158,823 | €182,105 | +€23,283 | +14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,693 | €20,851 | +€4,159 | +24.9% |
| Other operating charges | 640/8 | €1,845 | €2,188 | +€343 | +18.6% |
| Gross operating margin | 9900 | €279,263 | €292,291 | +€13,028 | +4.7% |
| Operating profit (loss) | 9901 | €101,903 | €87,146 | -€14,757 | -14.5% |
| Financial income | 75/76B | €319 | €4,796 | +€4,478 | +1,405% |
| Recurring financial income | 75 | €319 | €4,796 | +€4,478 | +1,405% |
| Financial charges | 65/66B | €3,720 | €4,631 | +€910 | +24.5% |
| Recurring financial charges | 65 | €3,720 | €4,631 | +€910 | +24.5% |
| Profit (loss) for the period before taxes | 9903 | €98,501 | €87,312 | -€11,189 | -11.4% |
| Income taxes | 67/77 | €19,615 | €20,466 | +€851 | +4.3% |
| Profit (loss) for the period | 9904 | €78,886 | €66,845 | -€12,040 | -15.3% |
| Profit (loss) for the period to be appropriated | 9905 | €78,886 | €66,845 | -€12,040 | -15.3% |
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 27 October 2026 via checked.be.