DVM PROJECTS: 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.
DVM PROJECTS
Largest movements
- Current investments +€53,000
up €53,000 (+54.6%), from €97,000 to €150,000
- Tangible fixed assets -€11,373
down €11,373 (-6.2%), from €183,726 to €172,354
- Cash +€7,512
up €7,512 (+39.0%), from €19,260 to €26,771
mainly Net result for the year (+€50,902) and Depreciation (+€11,373)
- Reserves +€50,000
up €50,000 (+17.2%), from €291,331 to €341,331
of which Distributable reserves: +€50,000
- Gross operating margin +€4,431
up €4,431 (+5.9%), from €75,245 to €79,676
- Financial income +€4,007
new in 2025: €4,007
- Taxes +€1,968
up €1,968 (+13.1%), from €15,000 to €16,967
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 | €300,354 | €349,757 | +€49,403 | +16.4% |
| Fixed assets | 21/28 | €183,726 | €172,354 | -€11,373 | -6.2% |
| Tangible fixed assets | 22/27 | €183,726 | €172,354 | -€11,373 | -6.2% |
| Land and buildings | 22 | €183,726 | €172,354 | -€11,373 | -6.2% |
| Current assets | 29/58 | €116,628 | €177,403 | +€60,775 | +52.1% |
| Amounts receivable within one year | 40/41 | - | €235 | +€235 | |
| Other amounts receivable | 41 | - | €235 | +€235 | |
| Current investments | 50/53 | €97,000 | €150,000 | +€53,000 | +54.6% |
| Cash at bank and in hand | 54/58 | €19,260 | €26,771 | +€7,512 | +39.0% |
| Deferred charges and accrued income | 490/1 | €368 | €397 | +€29 | +8.0% |
| Total equity and liabilities | 10/49 | €300,354 | €349,757 | +€49,403 | +16.4% |
| Equity | 10/15 | €298,658 | €349,560 | +€50,902 | +17.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €291,331 | €341,331 | +€50,000 | +17.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €289,471 | €339,471 | +€50,000 | +17.3% |
| Profit (loss) carried forward | 14 | €1,126 | €2,029 | +€902 | +80.1% |
| Amounts payable | 17/49 | €1,697 | €197 | -€1,500 | -88.4% |
| Amounts payable within one year | 42/48 | €1,697 | €197 | -€1,500 | -88.4% |
| Trade debts | 44 | €197 | €197 | = | 0.0% |
| Suppliers | 440/4 | €197 | €197 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €1,500 | - | -€1,500 | |
| Taxes | 450/3 | €1,500 | - | -€1,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,373 | €11,373 | = | 0.0% |
| Other operating charges | 640/8 | €4,043 | €4,207 | +€164 | +4.1% |
| Gross operating margin | 9900 | €75,245 | €79,676 | +€4,431 | +5.9% |
| Operating profit (loss) | 9901 | €59,829 | €64,096 | +€4,267 | +7.1% |
| Financial income | 75/76B | - | €4,007 | +€4,007 | |
| Recurring financial income | 75 | - | €4,007 | +€4,007 | |
| Financial charges | 65/66B | €139 | €233 | +€94 | +67.4% |
| Recurring financial charges | 65 | €139 | €233 | +€94 | +67.4% |
| Profit (loss) for the period before taxes | 9903 | €59,690 | €67,870 | +€8,180 | +13.7% |
| Income taxes | 67/77 | €15,000 | €16,967 | +€1,968 | +13.1% |
| Profit (loss) for the period | 9904 | €44,690 | €50,902 | +€6,212 | +13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €44,690 | €50,902 | +€6,212 | +13.9% |
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.