DVJ: what changed
Two fiscal 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.
DVJ
Largest movements
- Cash +€153,000
up €153,000 (+831.0%), from €18,411 to €171,411
mainly Receivables within one year (+€124,711) and Net result for the year (+€27,061)
- Receivables within one year -€124,711
down €124,711 (-100.0%), from €124,714 to €3
- Tangible fixed assets -€13,630
down €13,630 (-2.6%), from €528,355 to €514,725
of which Land and buildings: -€12,835
- Reserves +€27,061
up €27,061 (+68.1%), from €39,718 to €66,779
of which Distributable reserves: +€32,694
- Debts after one year -€19,925
down €19,925 (-6.6%), from €300,840 to €280,915
- Tax, wage and social debts +€9,726
up €9,726 (+417.7%), from €2,328 to €12,054
- Current portion of long-term debt -€9,173
down €9,173 (-30.5%), from €30,052 to €20,879
- Financial charges -€36,693
down €36,693 (-72.2%), from €50,787 to €14,095
of which Non-recurring financial charges: -€35,470
- Depreciation -€13,344
down €13,344 (-49.5%), from €26,974 to €13,630
- Taxes +€10,403
up €10,403, from €0 to €10,403
- Gross operating margin +€9,587
up €9,587 (+15.6%), from €61,530 to €71,116
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 | €671,904 | €689,584 | +€17,681 | +2.6% |
| Fixed assets | 21/28 | €528,355 | €514,725 | -€13,630 | -2.6% |
| Tangible fixed assets | 22/27 | €528,355 | €514,725 | -€13,630 | -2.6% |
| Land and buildings | 22 | €525,175 | €512,340 | -€12,835 | -2.4% |
| Plant, machinery and equipment | 23 | €3,180 | €2,385 | -€795 | -25.0% |
| Current assets | 29/58 | €143,549 | €174,860 | +€31,311 | +21.8% |
| Amounts receivable within one year | 40/41 | €124,714 | €3 | -€124,711 | -100.0% |
| Other amounts receivable | 41 | €124,714 | €3 | -€124,711 | -100.0% |
| Cash at bank and in hand | 54/58 | €18,411 | €171,411 | +€153,000 | +831.0% |
| Deferred charges and accrued income | 490/1 | €424 | €3,445 | +€3,021 | +712.6% |
| Total equity and liabilities | 10/49 | €671,904 | €689,584 | +€17,681 | +2.6% |
| Equity | 10/15 | €271,480 | €298,540 | +€27,061 | +10.0% |
| Contributions | 10/11 | €192,750 | €192,750 | = | 0.0% |
| Reserves | 13 | €39,718 | €66,779 | +€27,061 | +68.1% |
| Tax-exempt reserves | 132 | €18,582 | €12,948 | -€5,634 | -30.3% |
| Distributable reserves | 133 | €21,136 | €53,830 | +€32,694 | +154.7% |
| Profit (loss) carried forward | 14 | €39,012 | €39,012 | = | 0.0% |
| Provisions and deferred taxes | 16 | €15,233 | €13,355 | -€1,878 | -12.3% |
| Deferred taxes | 168 | €15,233 | €13,355 | -€1,878 | -12.3% |
| Amounts payable | 17/49 | €385,191 | €377,689 | -€7,502 | -1.9% |
| Amounts payable after more than one year | 17 | €300,840 | €280,915 | -€19,925 | -6.6% |
| Financial debts | 170/4 | €300,840 | €280,915 | -€19,925 | -6.6% |
| Amounts payable within one year | 42/48 | €79,675 | €92,360 | +€12,685 | +15.9% |
| Current portion of amounts payable after more than one year | 42 | €30,052 | €20,879 | -€9,173 | -30.5% |
| Trade debts | 44 | €495 | €6,774 | +€6,279 | +1269.0% |
| Suppliers | 440/4 | €495 | €6,774 | +€6,279 | +1269.0% |
| Taxes, remuneration and social security | 45 | €2,328 | €12,054 | +€9,726 | +417.7% |
| Taxes | 450/3 | €2,328 | €12,054 | +€9,726 | +417.7% |
| Other amounts payable | 47/48 | €46,800 | €52,653 | +€5,853 | +12.5% |
| Accrued charges and deferred income | 492/3 | €4,675 | €4,414 | -€262 | -5.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,974 | €13,630 | -€13,344 | -49.5% |
| Other operating charges | 640/8 | €10,244 | €9,904 | -€340 | -3.3% |
| Gross operating margin | 9900 | €61,530 | €71,116 | +€9,587 | +15.6% |
| Operating profit (loss) | 9901 | €24,311 | €47,583 | +€23,271 | +95.7% |
| Financial income | 75/76B | €2,597 | €2,098 | -€499 | -19.2% |
| Recurring financial income | 75 | €2,597 | €2,098 | -€499 | -19.2% |
| Financial charges | 65/66B | €50,787 | €14,095 | -€36,693 | -72.2% |
| Recurring financial charges | 65 | €15,317 | €14,095 | -€1,223 | -8.0% |
| Non-recurring financial charges | 66B | €35,470 | €0 | -€35,470 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€23,879 | €35,586 | +€59,465 | |
| Transfer from deferred taxes | 780 | €1,878 | €1,878 | = | 0.0% |
| Income taxes | 67/77 | €0 | €10,403 | +€10,403 | |
| Profit (loss) for the period | 9904 | -€22,001 | €27,061 | +€49,061 | |
| Transfer from tax-exempt reserves | 789 | €5,634 | €5,634 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,367 | €32,694 | +€49,061 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.