DVL: 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.
DVL
Largest movements
- Stocks and contracts -€814,483
no longer reported in 2025 (was €814,483)
- Receivables within one year +€326,074
up €326,074 (+1755.0%), from €18,580 to €344,654
- Debts after one year -€307,387
down €307,387 (-18.8%), from €1.6m to €1.3m
- Other debts -€168,021
no longer reported in 2025 (was €168,021)
- Depreciation -€11,116
down €11,116 (-97.6%), from €11,392 to €277
- Gross operating margin -€9,223
down €9,223 (-67.2%), from €13,717 to €4,493
- Financial charges +€1,822
up €1,822 (+150.8%), from €1,208 to €3,031
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 | €1,822,741 | €1,346,314 | -€476,427 | -26.1% |
| Fixed assets | 21/28 | €987,384 | €987,107 | -€277 | 0.0% |
| Tangible fixed assets | 22/27 | €1,384 | €1,107 | -€277 | -20.0% |
| Land and buildings | 22 | €1,384 | €1,107 | -€277 | -20.0% |
| Financial fixed assets | 28 | €986,000 | €986,000 | = | 0.0% |
| Current assets | 29/58 | €835,357 | €359,207 | -€476,150 | -57.0% |
| Stocks and contracts in progress | 3 | €814,483 | - | -€814,483 | |
| Stocks | 30/36 | €814,483 | - | -€814,483 | |
| Amounts receivable within one year | 40/41 | €18,580 | €344,654 | +€326,074 | +1755.0% |
| Trade receivables | 40 | €18,580 | €344,654 | +€326,074 | +1755.0% |
| Cash at bank and in hand | 54/58 | €2,294 | €14,552 | +€12,258 | +534.3% |
| Total equity and liabilities | 10/49 | €1,822,741 | €1,346,314 | -€476,427 | -26.1% |
| Equity | 10/15 | €18,855 | €18,896 | +€41 | +0.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | -€1,605 | -€1,564 | +€41 | +2.5% |
| Amounts payable | 17/49 | €1,803,886 | €1,327,418 | -€476,468 | -26.4% |
| Amounts payable after more than one year | 17 | €1,634,805 | €1,327,418 | -€307,387 | -18.8% |
| Financial debts | 170/4 | €1,634,805 | €1,327,418 | -€307,387 | -18.8% |
| Amounts payable within one year | 42/48 | €168,339 | - | -€168,339 | |
| Taxes, remuneration and social security | 45 | €318 | - | -€318 | |
| Taxes | 450/3 | €318 | - | -€318 | |
| Other amounts payable | 47/48 | €168,021 | - | -€168,021 | |
| Accrued charges and deferred income | 492/3 | €742 | - | -€742 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,392 | €277 | -€11,116 | -97.6% |
| Other operating charges | 640/8 | €1,102 | €1,146 | +€44 | +4.0% |
| Gross operating margin | 9900 | €13,717 | €4,493 | -€9,223 | -67.2% |
| Operating profit (loss) | 9901 | €1,222 | €3,071 | +€1,849 | +151.2% |
| Financial income | 75/76B | €0 | €0 | +€0 | +6.7% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +6.7% |
| Financial charges | 65/66B | €1,208 | €3,031 | +€1,822 | +150.8% |
| Recurring financial charges | 65 | €1,208 | €3,031 | +€1,822 | +150.8% |
| Profit (loss) for the period before taxes | 9903 | €14 | €41 | +€26 | +183.2% |
| Income taxes | 67/77 | €6 | - | -€6 | |
| Profit (loss) for the period | 9904 | €9 | €41 | +€32 | +378.7% |
| Profit (loss) for the period to be appropriated | 9905 | €9 | €41 | +€32 | +378.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.