DVS Verwarming: 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.
DVS Verwarming
Largest movements
- Stocks and contracts +€56,543
new in 2025: €56,543
- Receivables within one year -€38,533
down €38,533 (-47.1%), from €81,759 to €43,226
of which Trade receivables: -€50,670
- Tangible fixed assets -€17,518
down €17,518 (-7.6%), from €231,278 to €213,760
- Cash -€3,605
down €3,605 (-48.4%), from €7,450 to €3,845
mainly Stocks and contracts (-€56,543) and Trade debts (-€16,483)
- Other debts +€40,125
new in 2025: €40,125
- Trade debts -€16,483
down €16,483 (-55.2%), from €29,886 to €13,403
- Current portion of long-term debt -€13,544
down €13,544 (-87.4%), from €15,494 to €1,950
- Tax, wage and social debts -€11,481
down €11,481 (-68.5%), from €16,758 to €5,277
of which Taxes: -€9,954
- Debts after one year -€5,671
down €5,671 (-3.4%), from €168,200 to €162,529
- Staff costs +€23,847
up €23,847 (+102.9%), from €23,182 to €47,029
- Taxes -€11,991
down €11,991 (-89.5%), from €13,399 to €1,408
- Gross operating margin -€5,952
down €5,952 (-7.8%), from €76,574 to €70,622
- Depreciation +€4,002
up €4,002 (+35.4%), from €11,303 to €15,304
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 | €324,985 | €321,402 | -€3,583 | -1.1% |
| Fixed assets | 21/28 | €232,798 | €215,280 | -€17,518 | -7.5% |
| Tangible fixed assets | 22/27 | €231,278 | €213,760 | -€17,518 | -7.6% |
| Land and buildings | 22 | €210,884 | €202,725 | -€8,159 | -3.9% |
| Plant, machinery and equipment | 23 | €2,913 | €1,982 | -€932 | -32.0% |
| Furniture and vehicles | 24 | €17,482 | €9,054 | -€8,428 | -48.2% |
| Financial fixed assets | 28 | €1,520 | €1,520 | = | 0.0% |
| Current assets | 29/58 | €92,186 | €106,122 | +€13,936 | +15.1% |
| Amounts receivable after more than one year | 29 | €2,247 | €2,247 | = | 0.0% |
| Other amounts receivable | 291 | €2,247 | €2,247 | = | 0.0% |
| Stocks and contracts in progress | 3 | - | €56,543 | +€56,543 | |
| Stocks | 30/36 | - | €56,543 | +€56,543 | |
| Amounts receivable within one year | 40/41 | €81,759 | €43,226 | -€38,533 | -47.1% |
| Trade receivables | 40 | €76,670 | €26,000 | -€50,670 | -66.1% |
| Other amounts receivable | 41 | €5,088 | €17,226 | +€12,138 | +238.5% |
| Current investments | 50/53 | - | €101 | +€101 | |
| Cash at bank and in hand | 54/58 | €7,450 | €3,845 | -€3,605 | -48.4% |
| Deferred charges and accrued income | 490/1 | €731 | €159 | -€571 | -78.2% |
| Total equity and liabilities | 10/49 | €324,985 | €321,402 | -€3,583 | -1.1% |
| Equity | 10/15 | €93,896 | €98,014 | +€4,118 | +4.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €87,696 | €91,814 | +€4,118 | +4.7% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €85,841 | €89,959 | +€4,118 | +4.8% |
| Amounts payable | 17/49 | €231,088 | €223,388 | -€7,701 | -3.3% |
| Amounts payable after more than one year | 17 | €168,200 | €162,529 | -€5,671 | -3.4% |
| Financial debts | 170/4 | €168,200 | €162,529 | -€5,671 | -3.4% |
| Amounts payable within one year | 42/48 | €62,888 | €60,859 | -€2,030 | -3.2% |
| Current portion of amounts payable after more than one year | 42 | €15,494 | €1,950 | -€13,544 | -87.4% |
| Financial debts | 43 | - | €104 | +€104 | |
| Credit institutions | 430/8 | - | €104 | +€104 | |
| Trade debts | 44 | €29,886 | €13,403 | -€16,483 | -55.2% |
| Suppliers | 440/4 | €29,886 | €13,403 | -€16,483 | -55.2% |
| Advances received on contracts in progress | 46 | €751 | €0 | -€751 | -100.0% |
| Taxes, remuneration and social security | 45 | €16,758 | €5,277 | -€11,481 | -68.5% |
| Taxes | 450/3 | €14,469 | €4,515 | -€9,954 | -68.8% |
| Remuneration and social security | 454/9 | €2,288 | €762 | -€1,527 | -66.7% |
| Other amounts payable | 47/48 | - | €40,125 | +€40,125 | |
| Remuneration, social security and pensions | 62 | €23,182 | €47,029 | +€23,847 | +102.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,303 | €15,304 | +€4,002 | +35.4% |
| Other operating charges | 640/8 | €1,878 | €2,137 | +€259 | +13.8% |
| Non-recurring operating charges | 66A | €1,763 | €149 | -€1,614 | -91.6% |
| Gross operating margin | 9900 | €76,574 | €70,622 | -€5,952 | -7.8% |
| Operating profit (loss) | 9901 | €38,448 | €6,003 | -€32,445 | -84.4% |
| Financial income | 75/76B | €712 | €127 | -€585 | -82.2% |
| Recurring financial income | 75 | €712 | €127 | -€585 | -82.2% |
| Financial charges | 65/66B | €930 | €604 | -€326 | -35.1% |
| Recurring financial charges | 65 | €930 | €604 | -€326 | -35.1% |
| Profit (loss) for the period before taxes | 9903 | €38,230 | €5,526 | -€32,704 | -85.5% |
| Income taxes | 67/77 | €13,399 | €1,408 | -€11,991 | -89.5% |
| Profit (loss) for the period | 9904 | €24,831 | €4,118 | -€20,713 | -83.4% |
| Profit (loss) for the period to be appropriated | 9905 | €24,831 | €4,118 | -€20,713 | -83.4% |
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.