DVOB: 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.
DVOB
Largest movements
- Cash -€175,047
down €175,047 (-64.2%), from €272,766 to €97,719
mainly Current investments (-€171,548) and Receivables after one year (-€31,120)
- Current investments +€171,548
new in 2025: €171,548
- Receivables after one year +€31,120
new in 2025: €31,120
- Receivables within one year +€23,199
up €23,199 (+99.0%), from €23,444 to €46,643
of which Other amounts receivable: +€22,943
- Reserves +€78,000
up €78,000 (+15.3%), from €509,401 to €587,401
- Debts after one year -€18,372
down €18,372 (-85.6%), from €21,455 to €3,082
- Tax, wage and social debts -€8,430
down €8,430 (-47.7%), from €17,668 to €9,238
- Gross operating margin -€62,361
down €62,361 (-36.8%), from €169,441 to €107,080
- Taxes -€22,711
down €22,711 (-42.4%), from €53,578 to €30,867
- Financial income +€3,870
up €3,870 (+71.3%), from €5,430 to €9,300
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 | €589,135 | €641,665 | +€52,530 | +8.9% |
| Fixed assets | 21/28 | €291,802 | €292,306 | +€503 | +0.2% |
| Tangible fixed assets | 22/27 | €11,802 | €12,306 | +€503 | +4.3% |
| Land and buildings | 22 | €6,787 | €7,240 | +€452 | +6.7% |
| Plant, machinery and equipment | 23 | €1,668 | €3,032 | +€1,365 | +81.8% |
| Furniture and vehicles | 24 | €3,347 | €2,034 | -€1,314 | -39.2% |
| Financial fixed assets | 28 | €280,000 | €280,000 | = | 0.0% |
| Current assets | 29/58 | €297,332 | €349,359 | +€52,027 | +17.5% |
| Amounts receivable after more than one year | 29 | - | €31,120 | +€31,120 | |
| Other amounts receivable | 291 | - | €31,120 | +€31,120 | |
| Amounts receivable within one year | 40/41 | €23,444 | €46,643 | +€23,199 | +99.0% |
| Trade receivables | 40 | €19,977 | €20,233 | +€257 | +1.3% |
| Other amounts receivable | 41 | €3,467 | €26,410 | +€22,943 | +662% |
| Current investments | 50/53 | - | €171,548 | +€171,548 | |
| Cash at bank and in hand | 54/58 | €272,766 | €97,719 | -€175,047 | -64.2% |
| Deferred charges and accrued income | 490/1 | €1,122 | €2,329 | +€1,207 | +108% |
| Total equity and liabilities | 10/49 | €589,135 | €641,665 | +€52,530 | +8.9% |
| Equity | 10/15 | €528,326 | €607,041 | +€78,714 | +14.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €509,401 | €587,401 | +€78,000 | +15.3% |
| Distributable reserves | 133 | €509,401 | €587,401 | +€78,000 | +15.3% |
| Profit (loss) carried forward | 14 | €325 | €1,039 | +€714 | +220% |
| Amounts payable | 17/49 | €60,808 | €34,624 | -€26,184 | -43.1% |
| Amounts payable after more than one year | 17 | €21,455 | €3,082 | -€18,372 | -85.6% |
| Financial debts | 170/4 | €21,455 | €3,082 | -€18,372 | -85.6% |
| Amounts payable within one year | 42/48 | €39,354 | €31,542 | -€7,812 | -19.8% |
| Current portion of amounts payable after more than one year | 42 | €18,167 | €18,372 | +€206 | +1.1% |
| Trade debts | 44 | €2,660 | €3,931 | +€1,271 | +47.8% |
| Suppliers | 440/4 | €2,660 | €3,931 | +€1,271 | +47.8% |
| Taxes, remuneration and social security | 45 | €17,668 | €9,238 | -€8,430 | -47.7% |
| Taxes | 450/3 | €17,668 | €9,238 | -€8,430 | -47.7% |
| Other amounts payable | 47/48 | €859 | €0 | -€859 | -100% |
| Non-recurring operating income | 76A | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,702 | €3,352 | +€650 | +24.1% |
| Other operating charges | 640/8 | €2,576 | €1,761 | -€815 | -31.6% |
| Gross operating margin | 9900 | €169,441 | €107,080 | -€62,361 | -36.8% |
| Operating profit (loss) | 9901 | €164,163 | €101,967 | -€62,196 | -37.9% |
| Financial income | 75/76B | €5,430 | €9,300 | +€3,870 | +71.3% |
| Recurring financial income | 75 | €5,430 | €9,300 | +€3,870 | +71.3% |
| Financial charges | 65/66B | €2,096 | €1,686 | -€410 | -19.6% |
| Recurring financial charges | 65 | €2,096 | €1,686 | -€410 | -19.6% |
| Profit (loss) for the period before taxes | 9903 | €167,497 | €109,581 | -€57,916 | -34.6% |
| Income taxes | 67/77 | €53,578 | €30,867 | -€22,711 | -42.4% |
| Profit (loss) for the period | 9904 | €113,920 | €78,714 | -€35,205 | -30.9% |
| Profit (loss) for the period to be appropriated | 9905 | €113,920 | €78,714 | -€35,205 | -30.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.