DVR Traject: 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.
DVR Traject
Largest movements
- Receivables within one year -€47,922
down €47,922 (-57.1%), from €83,931 to €36,009
of which Other amounts receivable: -€58,926
- Tangible fixed assets -€37,947
down €37,947 (-8.8%), from €429,497 to €391,550
of which Leasing and similar rights: -€68,463
- Cash +€25,670
up €25,670 (+83.9%), from €30,584 to €56,254
mainly Depreciation (+€50,700) and Receivables within one year (+€47,922)
- Debts after one year -€53,991
down €53,991 (-17.8%), from €303,907 to €249,916
- Current portion of long-term debt -€20,284
down €20,284 (-37.7%), from €53,759 to €33,475
- Other debts -€10,000
down €10,000 (-16.7%), from €60,000 to €50,000
- Tax, wage and social debts +€8,795
up €8,795, from €0 to €8,795
- Accrued charges and deferred income +€8,464
up €8,464 (+1407.1%), from €602 to €9,065
- Gross operating margin +€23,116
up €23,116 (+25.9%), from €89,387 to €112,503
- Depreciation +€8,886
up €8,886 (+21.3%), from €41,814 to €50,700
- Financial charges +€8,279
up €8,279 (+133.3%), from €6,209 to €14,488
- Taxes +€7,002
up €7,002 (+121.2%), from €5,779 to €12,782
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 | €544,011 | €483,813 | -€60,199 | -11.1% |
| Fixed assets | 21/28 | €429,497 | €391,550 | -€37,947 | -8.8% |
| Tangible fixed assets | 22/27 | €429,497 | €391,550 | -€37,947 | -8.8% |
| Land and buildings | 22 | €294,482 | €296,071 | +€1,589 | +0.5% |
| Furniture and vehicles | 24 | €9,133 | €38,476 | +€29,343 | +321.3% |
| Leasing and similar rights | 25 | €124,698 | €56,235 | -€68,463 | -54.9% |
| Other tangible fixed assets | 26 | €1,184 | €768 | -€415 | -35.1% |
| Current assets | 29/58 | €114,515 | €92,263 | -€22,252 | -19.4% |
| Amounts receivable within one year | 40/41 | €83,931 | €36,009 | -€47,922 | -57.1% |
| Trade receivables | 40 | €24,532 | €35,536 | +€11,005 | +44.9% |
| Other amounts receivable | 41 | €59,399 | €472 | -€58,926 | -99.2% |
| Cash at bank and in hand | 54/58 | €30,584 | €56,254 | +€25,670 | +83.9% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €544,011 | €483,813 | -€60,199 | -11.1% |
| Equity | 10/15 | €123,990 | €127,196 | +€3,206 | +2.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €105,390 | €108,596 | +€3,206 | +3.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €105,390 | €108,596 | +€3,206 | +3.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €420,021 | €356,617 | -€63,405 | -15.1% |
| Amounts payable after more than one year | 17 | €303,907 | €249,916 | -€53,991 | -17.8% |
| Financial debts | 170/4 | €303,907 | €249,916 | -€53,991 | -17.8% |
| Amounts payable within one year | 42/48 | €115,513 | €97,636 | -€17,877 | -15.5% |
| Current portion of amounts payable after more than one year | 42 | €53,759 | €33,475 | -€20,284 | -37.7% |
| Trade debts | 44 | €1,754 | €5,366 | +€3,612 | +205.9% |
| Suppliers | 440/4 | €1,754 | €5,366 | +€3,612 | +205.9% |
| Taxes, remuneration and social security | 45 | €0 | €8,795 | +€8,795 | |
| Taxes | 450/3 | €0 | €8,795 | +€8,795 | |
| Other amounts payable | 47/48 | €60,000 | €50,000 | -€10,000 | -16.7% |
| Accrued charges and deferred income | 492/3 | €602 | €9,065 | +€8,464 | +1407.1% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,814 | €50,700 | +€8,886 | +21.3% |
| Other operating charges | 640/8 | €10,694 | €11,336 | +€643 | +6.0% |
| Gross operating margin | 9900 | €89,387 | €112,503 | +€23,116 | +25.9% |
| Operating profit (loss) | 9901 | €36,879 | €50,467 | +€13,588 | +36.8% |
| Financial income | 75/76B | €3 | €9 | +€7 | +264.6% |
| Recurring financial income | 75 | €3 | €9 | +€7 | +264.6% |
| Financial charges | 65/66B | €6,209 | €14,488 | +€8,279 | +133.3% |
| Recurring financial charges | 65 | €6,209 | €14,488 | +€8,279 | +133.3% |
| Profit (loss) for the period before taxes | 9903 | €30,672 | €35,988 | +€5,316 | +17.3% |
| Income taxes | 67/77 | €5,779 | €12,782 | +€7,002 | +121.2% |
| Profit (loss) for the period | 9904 | €24,893 | €23,206 | -€1,687 | -6.8% |
| Profit (loss) for the period to be appropriated | 9905 | €24,893 | €23,206 | -€1,687 | -6.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.