DVL 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.
DVL MANAGEMENT
Largest movements
- Receivables within one year +€74,187
up €74,187 (+26.1%), from €284,122 to €358,309
of which Other amounts receivable: +€186,251
- Cash -€39,144
down €39,144 (-6.4%), from €611,865 to €572,721
mainly Receivables within one year (-€74,187) and Tax, wage and social debts (-€32,357)
- Profit (loss) carried forward +€92,063
up €92,063 (+26.6%), from €346,115 to €438,177
- Tax, wage and social debts -€32,357
down €32,357 (-75.8%), from €42,674 to €10,317
- Trade debts -€18,962
down €18,962 (-21.4%), from €88,717 to €69,755
- Gross operating margin -€225,380
down €225,380 (-58.1%), from €387,733 to €162,353
- Taxes -€54,030
down €54,030 (-49.0%), from €110,202 to €56,172
- Other operating charges +€5,552
up €5,552 (+154%), from €3,597 to €9,149
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 | €939,072 | €971,398 | +€32,326 | +3.4% |
| Fixed assets | 21/28 | €41,228 | €39,534 | -€1,695 | -4.1% |
| Tangible fixed assets | 22/27 | €16,228 | €14,534 | -€1,695 | -10.4% |
| Furniture and vehicles | 24 | €2,860 | €1,891 | -€969 | -33.9% |
| Other tangible fixed assets | 26 | €13,368 | €12,643 | -€725 | -5.4% |
| Financial fixed assets | 28 | €25,000 | €25,000 | = | 0.0% |
| Current assets | 29/58 | €897,843 | €931,864 | +€34,021 | +3.8% |
| Amounts receivable within one year | 40/41 | €284,122 | €358,309 | +€74,187 | +26.1% |
| Trade receivables | 40 | €221,226 | €109,162 | -€112,064 | -50.7% |
| Other amounts receivable | 41 | €62,895 | €249,146 | +€186,251 | +296% |
| Cash at bank and in hand | 54/58 | €611,865 | €572,721 | -€39,144 | -6.4% |
| Deferred charges and accrued income | 490/1 | €1,857 | €835 | -€1,022 | -55.0% |
| Total equity and liabilities | 10/49 | €939,072 | €971,398 | +€32,326 | +3.4% |
| Equity | 10/15 | €792,681 | €884,744 | +€92,063 | +11.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | €12,400 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €434,166 | €434,166 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €432,306 | €432,306 | = | 0.0% |
| Profit (loss) carried forward | 14 | €346,115 | €438,177 | +€92,063 | +26.6% |
| Amounts payable | 17/49 | €146,391 | €86,655 | -€59,736 | -40.8% |
| Amounts payable within one year | 42/48 | €146,391 | €86,655 | -€59,736 | -40.8% |
| Trade debts | 44 | €88,717 | €69,755 | -€18,962 | -21.4% |
| Suppliers | 440/4 | €88,717 | €69,755 | -€18,962 | -21.4% |
| Taxes, remuneration and social security | 45 | €42,674 | €10,317 | -€32,357 | -75.8% |
| Taxes | 450/3 | €42,674 | €10,317 | -€32,357 | -75.8% |
| Other amounts payable | 47/48 | €15,000 | €6,582 | -€8,418 | -56.1% |
| Remuneration, social security and pensions | 62 | €26 | - | -€26 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,903 | €1,695 | -€208 | -10.9% |
| Other operating charges | 640/8 | €3,597 | €9,149 | +€5,552 | +154% |
| Gross operating margin | 9900 | €387,733 | €162,353 | -€225,380 | -58.1% |
| Operating profit (loss) | 9901 | €382,207 | €151,510 | -€230,698 | -60.4% |
| Financial charges | 65/66B | €2,344 | €3,275 | +€931 | +39.7% |
| Recurring financial charges | 65 | €2,344 | €3,275 | +€931 | +39.7% |
| Profit (loss) for the period before taxes | 9903 | €379,863 | €148,235 | -€231,629 | -61.0% |
| Income taxes | 67/77 | €110,202 | €56,172 | -€54,030 | -49.0% |
| Profit (loss) for the period | 9904 | €269,662 | €92,063 | -€177,599 | -65.9% |
| Profit (loss) for the period to be appropriated | 9905 | €269,662 | €92,063 | -€177,599 | -65.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.