DVI: 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.
DVI
Largest movements
- Receivables within one year +€551,426
up €551,426 (+38.7%), from €1.4m to €2.0m
of which Other amounts receivable: +€551,426
- Cash -€264,011
down €264,011 (-48.6%), from €542,980 to €278,969
mainly Receivables within one year (-€551,426) and Debts after one year (-€108,889)
- Deferred charges and accrued income +€81,274
up €81,274 (+432.0%), from €18,814 to €100,087
- Other debts +€439,520
up €439,520 (+36.2%), from €1.2m to €1.7m
- Debts after one year -€108,889
down €108,889 (-20.8%), from €524,421 to €415,532
- Gross operating margin -€287,033
down €287,033 (-84.6%), from €339,117 to €52,084
- Financial income -€228,470
down €228,470 (-63.8%), from €358,079 to €129,610
- Depreciation -€17,394
down €17,394 (-14.2%), from €122,258 to €104,864
- Financial charges -€16,939
down €16,939 (-13.8%), from €122,853 to €105,914
of which Non-recurring financial charges: -€45,833
- Taxes -€4,391
down €4,391 (-67.4%), from €6,511 to €2,121
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,773,747 | €7,061,720 | +€287,973 | +4.3% |
| Fixed assets | 21/28 | €3,844,172 | €3,817,346 | -€26,826 | -0.7% |
| Tangible fixed assets | 22/27 | €2,648,863 | €2,627,964 | -€20,899 | -0.8% |
| Land and buildings | 22 | €2,587,899 | €2,575,927 | -€11,972 | -0.5% |
| Plant, machinery and equipment | 23 | €59,320 | €51,228 | -€8,092 | -13.6% |
| Furniture and vehicles | 24 | €1,643 | €809 | -€835 | -50.8% |
| Financial fixed assets | 28 | €1,195,309 | €1,189,382 | -€5,927 | -0.5% |
| Current assets | 29/58 | €2,929,575 | €3,244,374 | +€314,799 | +10.7% |
| Amounts receivable after more than one year | 29 | €175,000 | €175,000 | = | 0.0% |
| Other amounts receivable | 291 | €175,000 | €175,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,425,999 | €1,977,424 | +€551,426 | +38.7% |
| Trade receivables | 40 | €300 | €300 | = | 0.0% |
| Other amounts receivable | 41 | €1,425,699 | €1,977,124 | +€551,426 | +38.7% |
| Current investments | 50/53 | €766,783 | €712,893 | -€53,889 | -7.0% |
| Cash at bank and in hand | 54/58 | €542,980 | €278,969 | -€264,011 | -48.6% |
| Deferred charges and accrued income | 490/1 | €18,814 | €100,087 | +€81,274 | +432.0% |
| Total equity and liabilities | 10/49 | €6,773,747 | €7,061,720 | +€287,973 | +4.3% |
| Equity | 10/15 | €4,375,396 | €4,344,300 | -€31,096 | -0.7% |
| Contributions | 10/11 | €124,000 | €124,000 | = | 0.0% |
| Capital | 10 | €124,000 | €124,000 | = | 0.0% |
| Issued capital | 100 | €124,000 | €124,000 | = | 0.0% |
| Reserves | 13 | €4,251,396 | €4,220,300 | -€31,096 | -0.7% |
| Non-distributable reserves | 130/1 | €12,400 | €12,400 | = | 0.0% |
| Legal reserve | 130 | €12,400 | €12,400 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,271,374 | €1,238,940 | -€32,433 | -2.6% |
| Distributable reserves | 133 | €2,967,622 | €2,968,959 | +€1,337 | 0.0% |
| Provisions and deferred taxes | 16 | €466,094 | €453,253 | -€12,841 | -2.8% |
| Deferred taxes | 168 | €466,094 | €453,253 | -€12,841 | -2.8% |
| Amounts payable | 17/49 | €1,932,258 | €2,264,167 | +€331,910 | +17.2% |
| Amounts payable after more than one year | 17 | €524,421 | €415,532 | -€108,889 | -20.8% |
| Financial debts | 170/4 | €524,421 | €415,532 | -€108,889 | -20.8% |
| Amounts payable within one year | 42/48 | €1,342,150 | €1,767,142 | +€424,992 | +31.7% |
| Current portion of amounts payable after more than one year | 42 | €108,889 | €108,889 | = | 0.0% |
| Trade debts | 44 | €13,413 | €3,191 | -€10,223 | -76.2% |
| Suppliers | 440/4 | €13,413 | €3,191 | -€10,223 | -76.2% |
| Taxes, remuneration and social security | 45 | €4,722 | €417 | -€4,305 | -91.2% |
| Taxes | 450/3 | €4,722 | €417 | -€4,305 | -91.2% |
| Other amounts payable | 47/48 | €1,215,126 | €1,654,646 | +€439,520 | +36.2% |
| Accrued charges and deferred income | 492/3 | €65,687 | €81,493 | +€15,807 | +24.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €122,258 | €104,864 | -€17,394 | -14.2% |
| Other operating charges | 640/8 | €13,043 | €12,732 | -€311 | -2.4% |
| Gross operating margin | 9900 | €339,117 | €52,084 | -€287,033 | -84.6% |
| Operating profit (loss) | 9901 | €203,816 | -€65,512 | -€269,328 | |
| Financial income | 75/76B | €358,079 | €129,610 | -€228,470 | -63.8% |
| Recurring financial income | 75 | €358,079 | €129,610 | -€228,470 | -63.8% |
| Financial charges | 65/66B | €122,853 | €105,914 | -€16,939 | -13.8% |
| Recurring financial charges | 65 | €77,019 | €105,914 | +€28,894 | +37.5% |
| Non-recurring financial charges | 66B | €45,833 | - | -€45,833 | |
| Profit (loss) for the period before taxes | 9903 | €439,042 | -€41,816 | -€480,859 | |
| Transfer from deferred taxes | 780 | €12,841 | €12,841 | = | 0.0% |
| Transfer to deferred taxes | 680 | €53,309 | - | -€53,309 | |
| Income taxes | 67/77 | €6,511 | €2,121 | -€4,391 | -67.4% |
| Profit (loss) for the period | 9904 | €392,063 | -€31,096 | -€423,159 | |
| Transfer from tax-exempt reserves | 789 | €32,433 | €32,433 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €159,928 | - | -€159,928 | |
| Profit (loss) for the period to be appropriated | 9905 | €264,568 | €1,337 | -€263,231 | -99.5% |
Source: filed annual accounts (NBB), financial years ended 28 February 2025 and 28 February 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.