DVH United: 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 United
Largest movements
- Tangible fixed assets +€361,261
up €361,261 (+13.8%), from €2.6m to €3.0m
of which Land and buildings: +€376,697
- Cash -€108,418
down €108,418 (-88.2%), from €122,864 to €14,446
mainly Investment in fixed assets (net) (-€579,806) and Debts after one year (-€123,333)
- Short-term financial debts +€233,623
up €233,623 (+1,557%), from €15,000 to €248,623
- Reserves +€143,303
up €143,303 (+6.7%), from €2.1m to €2.3m
- Debts after one year -€123,333
down €123,333 (-12.4%), from €996,666 to €873,333
of which Financial debts: -€123,333
- Depreciation +€81,433
up €81,433 (+59.4%), from €137,113 to €218,546
- Gross operating margin +€31,428
up €31,428 (+6.3%), from €496,765 to €528,193
- Taxes -€9,389
down €9,389 (-11.3%), from €83,152 to €73,763
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 | €3,849,763 | €4,072,692 | +€222,929 | +5.8% |
| Fixed assets | 21/28 | €3,037,628 | €3,398,889 | +€361,261 | +11.9% |
| Tangible fixed assets | 22/27 | €2,616,757 | €2,978,018 | +€361,261 | +13.8% |
| Land and buildings | 22 | €2,535,989 | €2,912,686 | +€376,697 | +14.9% |
| Plant, machinery and equipment | 23 | - | €4,849 | +€4,849 | |
| Furniture and vehicles | 24 | €80,768 | €60,483 | -€20,285 | -25.1% |
| Financial fixed assets | 28 | €420,871 | €420,871 | = | 0.0% |
| Current assets | 29/58 | €812,135 | €673,804 | -€138,332 | -17.0% |
| Amounts receivable within one year | 40/41 | €666,981 | €635,047 | -€31,934 | -4.8% |
| Trade receivables | 40 | €559,537 | €527,603 | -€31,934 | -5.7% |
| Other amounts receivable | 41 | €107,444 | €107,444 | = | 0.0% |
| Current investments | 50/53 | €19,696 | €19,696 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €122,864 | €14,446 | -€108,418 | -88.2% |
| Deferred charges and accrued income | 490/1 | €2,594 | €4,614 | +€2,020 | +77.9% |
| Total equity and liabilities | 10/49 | €3,849,763 | €4,072,692 | +€222,929 | +5.8% |
| Equity | 10/15 | €2,249,191 | €2,392,495 | +€143,303 | +6.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €2,149,191 | €2,292,495 | +€143,303 | +6.7% |
| Distributable reserves | 133 | €2,149,191 | €2,292,495 | +€143,303 | +6.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,600,572 | €1,680,198 | +€79,626 | +5.0% |
| Amounts payable after more than one year | 17 | €996,666 | €873,333 | -€123,333 | -12.4% |
| Financial debts | 170/4 | €996,666 | €873,333 | -€123,333 | -12.4% |
| Other amounts payable | 178/9 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €575,410 | €784,117 | +€208,707 | +36.3% |
| Current portion of amounts payable after more than one year | 42 | €123,333 | €123,333 | = | 0.0% |
| Financial debts | 43 | €15,000 | €248,623 | +€233,623 | +1,557% |
| Credit institutions | 430/8 | €15,000 | €248,623 | +€233,623 | +1,557% |
| Trade debts | 44 | €17,739 | €6,295 | -€11,445 | -64.5% |
| Suppliers | 440/4 | €17,739 | €6,295 | -€11,445 | -64.5% |
| Taxes, remuneration and social security | 45 | €117,708 | €115,063 | -€2,645 | -2.2% |
| Taxes | 450/3 | €117,708 | €115,063 | -€2,645 | -2.2% |
| Other amounts payable | 47/48 | €301,629 | €290,803 | -€10,826 | -3.6% |
| Accrued charges and deferred income | 492/3 | €28,496 | €22,748 | -€5,748 | -20.2% |
| Non-recurring operating income | 76A | €1,456 | €10,674 | +€9,218 | +633% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €137,113 | €218,546 | +€81,433 | +59.4% |
| Other operating charges | 640/8 | €7,985 | €10,697 | +€2,711 | +34.0% |
| Non-recurring operating charges | 66A | - | €11,557 | +€11,557 | |
| Gross operating margin | 9900 | €496,765 | €528,193 | +€31,428 | +6.3% |
| Operating profit (loss) | 9901 | €351,667 | €287,394 | -€64,274 | -18.3% |
| Financial income | 75/76B | €1 | €2 | +€1 | +67.9% |
| Recurring financial income | 75 | €1 | €2 | +€1 | +67.9% |
| Financial charges | 65/66B | €50,046 | €50,330 | +€285 | +0.6% |
| Recurring financial charges | 65 | €50,046 | €50,330 | +€285 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | €301,623 | €237,066 | -€64,557 | -21.4% |
| Income taxes | 67/77 | €83,152 | €73,763 | -€9,389 | -11.3% |
| Profit (loss) for the period | 9904 | €218,471 | €163,303 | -€55,168 | -25.3% |
| Profit (loss) for the period to be appropriated | 9905 | €218,471 | €163,303 | -€55,168 | -25.3% |
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 25 October 2026 via checked.be.