DVH: 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.
DVH
Largest movements
- Stocks and contracts +€69,762
up €69,762 (+18.1%), from €385,946 to €455,708
- Cash -€25,125
down €25,125 (-90.4%), from €27,785 to €2,660
mainly Stocks and contracts (-€69,762) and Tax, wage and social debts (-€42,937)
- Short-term financial debts +€50,009
up €50,009 (+2513034.7%), from €2 to €50,011
- Tax, wage and social debts -€42,937
down €42,937 (-44.2%), from €97,241 to €54,304
of which Taxes: -€43,751
- Trade debts +€42,021
up €42,021 (+120.5%), from €34,873 to €76,894
- Profit (loss) carried forward -€33,359
down €33,359, from €28,714 to -€4,645
- Debts after one year +€19,936
up €19,936 (+1.7%), from €1.2m to €1.2m
- Gross operating margin -€46,865
down €46,865 (-49.5%), from €94,748 to €47,884
- Write-downs +€38,892
up €38,892, from -€38,892 to €0
- Depreciation -€35,092
down €35,092 (-78.2%), from €44,868 to €9,776
- Financial charges -€16,904
down €16,904 (-35.9%), from €47,083 to €30,179
- Staff costs +€9,441
up €9,441 (+35.0%), from €26,944 to €36,385
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 | €1,753,635 | €1,798,244 | +€44,609 | +2.5% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €1,336,655 | €1,326,879 | -€9,776 | -0.7% |
| Intangible fixed assets | 21 | €2,600 | €1,932 | -€668 | -25.7% |
| Tangible fixed assets | 22/27 | €1,334,055 | €1,324,948 | -€9,108 | -0.7% |
| Land and buildings | 22 | €1,306,488 | €1,306,210 | -€278 | 0.0% |
| Plant, machinery and equipment | 23 | €4,627 | €2,438 | -€2,189 | -47.3% |
| Furniture and vehicles | 24 | €22,940 | €16,300 | -€6,640 | -28.9% |
| Current assets | 29/58 | €416,980 | €471,365 | +€54,385 | +13.0% |
| Stocks and contracts in progress | 3 | €385,946 | €455,708 | +€69,762 | +18.1% |
| Stocks | 30/36 | €385,946 | €455,708 | +€69,762 | +18.1% |
| Amounts receivable within one year | 40/41 | €32 | €8,293 | +€8,261 | +25734.2% |
| Trade receivables | 40 | €32 | €8,247 | +€8,215 | +25591.6% |
| Other amounts receivable | 41 | - | €46 | +€46 | |
| Cash at bank and in hand | 54/58 | €27,785 | €2,660 | -€25,125 | -90.4% |
| Deferred charges and accrued income | 490/1 | €3,217 | €4,704 | +€1,487 | +46.2% |
| Total equity and liabilities | 10/49 | €1,753,635 | €1,798,244 | +€44,609 | +2.5% |
| Equity | 10/15 | €324,174 | €290,815 | -€33,359 | -10.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €276,860 | €276,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €275,000 | €275,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,714 | -€4,645 | -€33,359 | |
| Amounts payable | 17/49 | €1,429,461 | €1,507,429 | +€77,968 | +5.5% |
| Amounts payable after more than one year | 17 | €1,178,450 | €1,198,386 | +€19,936 | +1.7% |
| Financial debts | 170/4 | €1,178,450 | €1,198,386 | +€19,936 | +1.7% |
| Amounts payable within one year | 42/48 | €251,011 | €308,149 | +€57,138 | +22.8% |
| Current portion of amounts payable after more than one year | 42 | €97,353 | €100,064 | +€2,711 | +2.8% |
| Financial debts | 43 | €2 | €50,011 | +€50,009 | +2513034.7% |
| Credit institutions | 430/8 | €2 | €50,011 | +€50,009 | +2513034.7% |
| Trade debts | 44 | €34,873 | €76,894 | +€42,021 | +120.5% |
| Suppliers | 440/4 | €34,873 | €76,894 | +€42,021 | +120.5% |
| Advances received on contracts in progress | 46 | €18,194 | €18,194 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €97,241 | €54,304 | -€42,937 | -44.2% |
| Taxes | 450/3 | €94,334 | €50,584 | -€43,751 | -46.4% |
| Remuneration and social security | 454/9 | €2,907 | €3,721 | +€814 | +28.0% |
| Other amounts payable | 47/48 | €3,348 | €8,681 | +€5,333 | +159.3% |
| Accrued charges and deferred income | 492/3 | €0 | €894 | +€894 | |
| Non-recurring operating income | 76A | €19,876 | €0 | -€19,876 | -100.0% |
| Remuneration, social security and pensions | 62 | €26,944 | €36,385 | +€9,441 | +35.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,868 | €9,776 | -€35,092 | -78.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€38,892 | €0 | +€38,892 | |
| Other operating charges | 640/8 | €17,678 | €9,199 | -€8,479 | -48.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €94,748 | €47,884 | -€46,865 | -49.5% |
| Operating profit (loss) | 9901 | €44,151 | -€7,477 | -€51,628 | |
| Financial income | 75/76B | €10,704 | €4,999 | -€5,706 | -53.3% |
| Recurring financial income | 75 | €10,704 | €4,999 | -€5,706 | -53.3% |
| Financial charges | 65/66B | €47,083 | €30,179 | -€16,904 | -35.9% |
| Recurring financial charges | 65 | €47,083 | €30,179 | -€16,904 | -35.9% |
| Profit (loss) for the period before taxes | 9903 | €7,772 | -€32,657 | -€40,429 | |
| Income taxes | 67/77 | €3,756 | €702 | -€3,055 | -81.3% |
| Profit (loss) for the period | 9904 | €4,015 | -€33,359 | -€37,374 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,015 | -€33,359 | -€37,374 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.