DVH Management: 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 Management
Largest movements
- Cash -€66,716
down €66,716 (-33.3%), from €200,604 to €133,888
mainly Other debts (-€66,577) and Contributions, distributions and other (-€32,422)
- Receivables within one year +€14,788
up €14,788 (+87.5%), from €16,910 to €31,698
- Other debts -€66,577
down €66,577 (-75.3%), from €88,383 to €21,806
- Reserves +€21,839
up €21,839 (+6.1%), from €359,963 to €381,802
- Current portion of long-term debt +€10,320
up €10,320 (+102%), from €10,139 to €20,459
- Debts after one year -€10,288
down €10,288 (-16.3%), from €63,112 to €52,823
- Short-term financial debts -€8,479
no longer reported in 2025 (was €8,479)
- Gross operating margin -€37,733
down €37,733 (-29.9%), from €126,147 to €88,413
- Financial income -€11,177
down €11,177 (-88.3%), from €12,655 to €1,479
- Taxes -€10,464
down €10,464 (-31.0%), from €33,722 to €23,258
- Financial charges -€5,774
down €5,774 (-53.3%), from €10,826 to €5,052
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 | €552,523 | €496,486 | -€56,037 | -10.1% |
| Fixed assets | 21/28 | €165,936 | €161,255 | -€4,680 | -2.8% |
| Tangible fixed assets | 22/27 | €165,936 | €161,255 | -€4,680 | -2.8% |
| Land and buildings | 22 | €163,970 | €160,074 | -€3,895 | -2.4% |
| Furniture and vehicles | 24 | €1,966 | €1,181 | -€785 | -39.9% |
| Current assets | 29/58 | €386,587 | €335,231 | -€51,356 | -13.3% |
| Amounts receivable within one year | 40/41 | €16,910 | €31,698 | +€14,788 | +87.5% |
| Trade receivables | 40 | €16,910 | €31,698 | +€14,788 | +87.5% |
| Current investments | 50/53 | €169,073 | €169,645 | +€572 | +0.3% |
| Cash at bank and in hand | 54/58 | €200,604 | €133,888 | -€66,716 | -33.3% |
| Total equity and liabilities | 10/49 | €552,523 | €496,486 | -€56,037 | -10.1% |
| Equity | 10/15 | €366,163 | €388,002 | +€21,839 | +6.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €359,963 | €381,802 | +€21,839 | +6.1% |
| Distributable reserves | 133 | €359,963 | €381,802 | +€21,839 | +6.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €186,360 | €108,484 | -€77,876 | -41.8% |
| Amounts payable after more than one year | 17 | €63,112 | €52,823 | -€10,288 | -16.3% |
| Financial debts | 170/4 | €63,112 | €52,823 | -€10,288 | -16.3% |
| Amounts payable within one year | 42/48 | €123,248 | €55,660 | -€67,588 | -54.8% |
| Current portion of amounts payable after more than one year | 42 | €10,139 | €20,459 | +€10,320 | +102% |
| Financial debts | 43 | €8,479 | - | -€8,479 | |
| Credit institutions | 430/8 | €8,479 | - | -€8,479 | |
| Trade debts | 44 | €2,064 | €4,782 | +€2,717 | +132% |
| Suppliers | 440/4 | €2,064 | €4,782 | +€2,717 | +132% |
| Taxes, remuneration and social security | 45 | €14,183 | €8,614 | -€5,569 | -39.3% |
| Taxes | 450/3 | €14,183 | €8,614 | -€5,569 | -39.3% |
| Other amounts payable | 47/48 | €88,383 | €21,806 | -€66,577 | -75.3% |
| Non-recurring operating income | 76A | €28,000 | €0 | -€28,000 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,770 | €4,680 | -€90 | -1.9% |
| Other operating charges | 640/8 | €2,357 | €2,640 | +€283 | +12.0% |
| Gross operating margin | 9900 | €126,147 | €88,413 | -€37,733 | -29.9% |
| Operating profit (loss) | 9901 | €119,019 | €81,093 | -€37,926 | -31.9% |
| Financial income | 75/76B | €12,655 | €1,479 | -€11,177 | -88.3% |
| Recurring financial income | 75 | €12,655 | €1,479 | -€11,177 | -88.3% |
| Financial charges | 65/66B | €10,826 | €5,052 | -€5,774 | -53.3% |
| Recurring financial charges | 65 | €10,826 | €5,052 | -€5,774 | -53.3% |
| Profit (loss) for the period before taxes | 9903 | €120,848 | €77,519 | -€43,329 | -35.9% |
| Income taxes | 67/77 | €33,722 | €23,258 | -€10,464 | -31.0% |
| Profit (loss) for the period | 9904 | €87,127 | €54,261 | -€32,866 | -37.7% |
| Profit (loss) for the period to be appropriated | 9905 | €87,127 | €54,261 | -€32,866 | -37.7% |
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 22 October 2026 via checked.be.