DVLP: 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.
DVLP
Largest movements
- Financial fixed assets +€6.6m
up €6.6m (+2344.7%), from €280,783 to €6.9m
- Cash -€1.7m
down €1.7m (-84.3%), from €2.0m to €321,070
mainly Investment in fixed assets (net) (-€6.6m) and Short-term financial debts (-€606,575)
- Receivables within one year -€743,818
down €743,818 (-95.9%), from €775,762 to €31,943
of which Trade receivables: -€750,497
- Stocks and contracts -€462,386
down €462,386 (-11.1%), from €4.2m to €3.7m
- Receivables after one year +€318,830
new in 2025: €318,830
- Debts after one year +€5.4m
up €5.4m (+445.5%), from €1.2m to €6.6m
- Short-term financial debts -€606,575
down €606,575 (-20.5%), from €3.0m to €2.3m
- Other debts -€355,563
no longer reported in 2025 (was €355,563)
- Reserves -€234,085
down €234,085 (-14.4%), from €1.6m to €1.4m
of which Distributable reserves: -€234,085
- Advances received -€128,000
no longer reported in 2025 (was €128,000)
- Financial charges +€188,381
up €188,381 (+75.7%), from €248,799 to €437,180
- Gross operating margin -€176,531
down €176,531 (-49.6%), from €355,687 to €179,156
- Taxes -€34,921
no longer reported in 2025 (was €34,921)
- Financial income -€5,160
down €5,160 (-13.8%), from €37,341 to €32,181
of which Financial income: -€9,160
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 | €7,270,745 | €11,241,061 | +€4.0m | +54.6% |
| Fixed assets | 21/28 | €280,783 | €6,864,394 | +€6.6m | +2344.7% |
| Financial fixed assets | 28 | €280,783 | €6,864,394 | +€6.6m | +2344.7% |
| Current assets | 29/58 | €6,989,963 | €4,376,667 | -€2.6m | -37.4% |
| Amounts receivable after more than one year | 29 | - | €318,830 | +€318,830 | |
| Other amounts receivable | 291 | - | €318,830 | +€318,830 | |
| Stocks and contracts in progress | 3 | €4,166,336 | €3,703,950 | -€462,386 | -11.1% |
| Stocks | 30/36 | €4,166,336 | €3,703,950 | -€462,386 | -11.1% |
| Amounts receivable within one year | 40/41 | €775,762 | €31,943 | -€743,818 | -95.9% |
| Trade receivables | 40 | €750,497 | - | -€750,497 | |
| Other amounts receivable | 41 | €25,265 | €31,943 | +€6,678 | +26.4% |
| Cash at bank and in hand | 54/58 | €2,046,679 | €321,070 | -€1.7m | -84.3% |
| Deferred charges and accrued income | 490/1 | €1,186 | €874 | -€312 | -26.3% |
| Total equity and liabilities | 10/49 | €7,270,745 | €11,241,061 | +€4.0m | +54.6% |
| Equity | 10/15 | €2,500,000 | €2,265,915 | -€234,085 | -9.4% |
| Contributions | 10/11 | €876,493 | €876,493 | = | 0.0% |
| Capital | 10 | €876,493 | €876,493 | = | 0.0% |
| Issued capital | 100 | €876,493 | €876,493 | = | 0.0% |
| Reserves | 13 | €1,623,507 | €1,389,422 | -€234,085 | -14.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €1,617,307 | €1,383,222 | -€234,085 | -14.5% |
| Amounts payable | 17/49 | €4,770,745 | €8,975,147 | +€4.2m | +88.1% |
| Amounts payable after more than one year | 17 | €1,211,693 | €6,609,330 | +€5.4m | +445.5% |
| Other amounts payable | 178/9 | €1,211,693 | €6,609,330 | +€5.4m | +445.5% |
| Amounts payable within one year | 42/48 | €3,558,527 | €2,363,934 | -€1.2m | -33.6% |
| Financial debts | 43 | €2,953,625 | €2,347,050 | -€606,575 | -20.5% |
| Credit institutions | 430/8 | €2,953,625 | €2,347,050 | -€606,575 | -20.5% |
| Trade debts | 44 | €99,517 | €145 | -€99,372 | -99.9% |
| Suppliers | 440/4 | €99,517 | €145 | -€99,372 | -99.9% |
| Advances received on contracts in progress | 46 | €128,000 | - | -€128,000 | |
| Taxes, remuneration and social security | 45 | €21,823 | €16,739 | -€5,083 | -23.3% |
| Taxes | 450/3 | €21,823 | €16,739 | -€5,083 | -23.3% |
| Other amounts payable | 47/48 | €355,563 | - | -€355,563 | |
| Accrued charges and deferred income | 492/3 | €525 | €1,882 | +€1,357 | +258.6% |
| Other operating charges | 640/8 | €5,129 | €8,242 | +€3,113 | +60.7% |
| Gross operating margin | 9900 | €355,687 | €179,156 | -€176,531 | -49.6% |
| Operating profit (loss) | 9901 | €350,558 | €170,914 | -€179,644 | -51.2% |
| Financial income | 75/76B | €37,341 | €32,181 | -€5,160 | -13.8% |
| Recurring financial income | 75 | €37,341 | €28,181 | -€9,160 | -24.5% |
| Non-recurring financial income | 76B | - | €4,000 | +€4,000 | |
| Financial charges | 65/66B | €248,799 | €437,180 | +€188,381 | +75.7% |
| Recurring financial charges | 65 | €248,799 | €437,180 | +€188,381 | +75.7% |
| Profit (loss) for the period before taxes | 9903 | €139,100 | -€234,085 | -€373,185 | |
| Income taxes | 67/77 | €34,921 | - | -€34,921 | |
| Profit (loss) for the period | 9904 | €104,179 | -€234,085 | -€338,264 | |
| Profit (loss) for the period to be appropriated | 9905 | €104,179 | -€234,085 | -€338,264 |
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 8 October 2026 via checked.be.