DVR WATCHES: 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.
DVR WATCHES
Largest movements
- Stocks and contracts -€25,250
down €25,250 (-50.0%), from €50,500 to €25,250
- Tangible fixed assets -€19,140
down €19,140 (-27.4%), from €69,766 to €50,626
of which Furniture and vehicles: -€10,118
- Receivables within one year +€15,735
up €15,735 (+235%), from €6,692 to €22,427
of which Trade receivables: +€16,757
- Cash -€6,261
down €6,261 (-16.5%), from €37,852 to €31,591
mainly Trade debts (-€98,312) and Receivables within one year (-€15,735)
- Financial fixed assets +€2,996
up €2,996 (+4,858%), from €62 to €3,057
- Trade debts -€98,312
down €98,312 (-96.9%), from €101,429 to €3,118
- Debts after one year +€44,180
new in 2025: €44,180
- Current portion of long-term debt +€14,604
new in 2025: €14,604
- Profit (loss) carried forward +€10,520
up €10,520 (+40.9%), from €25,709 to €36,228
- Tax, wage and social debts -€3,588
down €3,588 (-32.1%), from €11,185 to €7,597
- Depreciation +€16,125
up €16,125 (+397%), from €4,065 to €20,190
- Taxes -€4,077
down €4,077 (-60.6%), from €6,730 to €2,653
- Gross operating margin -€3,873
down €3,873 (-9.0%), from €43,271 to €39,398
- Financial charges +€3,130
up €3,130 (+313%), from €1,000 to €4,130
- Staff costs -€2,669
down €2,669 (-90.4%), from €2,952 to €283
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 | €169,404 | €136,336 | -€33,068 | -19.5% |
| Fixed assets | 21/28 | €72,418 | €55,224 | -€17,195 | -23.7% |
| Intangible fixed assets | 21 | €2,591 | €1,541 | -€1,050 | -40.5% |
| Tangible fixed assets | 22/27 | €69,766 | €50,626 | -€19,140 | -27.4% |
| Plant, machinery and equipment | 23 | €30,247 | €21,225 | -€9,022 | -29.8% |
| Furniture and vehicles | 24 | €39,519 | €29,401 | -€10,118 | -25.6% |
| Financial fixed assets | 28 | €62 | €3,057 | +€2,996 | +4,858% |
| Current assets | 29/58 | €96,985 | €81,112 | -€15,873 | -16.4% |
| Stocks and contracts in progress | 3 | €50,500 | €25,250 | -€25,250 | -50.0% |
| Stocks | 30/36 | €50,500 | €25,250 | -€25,250 | -50.0% |
| Amounts receivable within one year | 40/41 | €6,692 | €22,427 | +€15,735 | +235% |
| Trade receivables | 40 | €4,780 | €21,536 | +€16,757 | +351% |
| Other amounts receivable | 41 | €1,913 | €891 | -€1,022 | -53.4% |
| Cash at bank and in hand | 54/58 | €37,852 | €31,591 | -€6,261 | -16.5% |
| Deferred charges and accrued income | 490/1 | €1,941 | €1,844 | -€97 | -5.0% |
| Total equity and liabilities | 10/49 | €169,404 | €136,336 | -€33,068 | -19.5% |
| Equity | 10/15 | €55,709 | €66,228 | +€10,520 | +18.9% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,709 | €36,228 | +€10,520 | +40.9% |
| Amounts payable | 17/49 | €113,695 | €70,108 | -€43,587 | -38.3% |
| Amounts payable after more than one year | 17 | - | €44,180 | +€44,180 | |
| Financial debts | 170/4 | - | €44,180 | +€44,180 | |
| Amounts payable within one year | 42/48 | €112,614 | €25,318 | -€87,296 | -77.5% |
| Current portion of amounts payable after more than one year | 42 | - | €14,604 | +€14,604 | |
| Trade debts | 44 | €101,429 | €3,118 | -€98,312 | -96.9% |
| Suppliers | 440/4 | €101,429 | €3,118 | -€98,312 | -96.9% |
| Taxes, remuneration and social security | 45 | €11,185 | €7,597 | -€3,588 | -32.1% |
| Taxes | 450/3 | €11,185 | €7,597 | -€3,588 | -32.1% |
| Accrued charges and deferred income | 492/3 | €1,081 | €610 | -€471 | -43.6% |
| Remuneration, social security and pensions | 62 | €2,952 | €283 | -€2,669 | -90.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,065 | €20,190 | +€16,125 | +397% |
| Other operating charges | 640/8 | €2,581 | €1,510 | -€1,071 | -41.5% |
| Non-recurring operating charges | 66A | €293 | €190 | -€103 | -35.1% |
| Gross operating margin | 9900 | €43,271 | €39,398 | -€3,873 | -9.0% |
| Operating profit (loss) | 9901 | €33,380 | €17,225 | -€16,155 | -48.4% |
| Financial income | 75/76B | €59 | €78 | +€19 | +32.5% |
| Recurring financial income | 75 | €59 | €78 | +€19 | +32.5% |
| Financial charges | 65/66B | €1,000 | €4,130 | +€3,130 | +313% |
| Recurring financial charges | 65 | €1,000 | €4,130 | +€3,130 | +313% |
| Profit (loss) for the period before taxes | 9903 | €32,439 | €13,172 | -€19,267 | -59.4% |
| Income taxes | 67/77 | €6,730 | €2,653 | -€4,077 | -60.6% |
| Profit (loss) for the period | 9904 | €25,709 | €10,520 | -€15,189 | -59.1% |
| Profit (loss) for the period to be appropriated | 9905 | €25,709 | €10,520 | -€15,189 | -59.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.