DVSAJ: 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.
DVSAJ
Largest movements
- Cash -€13,529
down €13,529 (-22.7%), from €59,715 to €46,186
mainly Investment in fixed assets (net) (-€25,052) and Provisions (-€14,000)
- Tangible fixed assets +€10,300
up €10,300 (+11.7%), from €87,940 to €98,240
of which Other tangible fixed assets: +€13,634
- Receivables within one year +€5,975
up €5,975 (+85.1%), from €7,021 to €12,995
of which Other amounts receivable: +€7,208
- Stocks and contracts +€5,498
up €5,498 (+129.3%), from €4,253 to €9,751
- Debts after one year +€17,448
new in 2025: €17,448
- Provisions -€14,000
no longer reported in 2025 (was €14,000)
- Current portion of long-term debt +€7,277
new in 2025: €7,277
- Other debts -€4,680
down €4,680 (-7.2%), from €64,708 to €60,028
- Short-term financial debts +€3,231
new in 2025: €3,231
- Gross operating margin -€59,476
down €59,476 (-91.2%), from €65,184 to €5,708
- Provisions -€28,000
down €28,000, from €14,000 to -€14,000
- Taxes -€7,465
down €7,465 (-98.6%), from €7,573 to €108
- Depreciation +€2,868
up €2,868 (+24.1%), from €11,884 to €14,752
- Financial charges -€2,038
down €2,038 (-43.4%), from €4,699 to €2,661
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 | €159,116 | €167,602 | +€8,486 | +5.3% |
| Fixed assets | 21/28 | €87,940 | €98,240 | +€10,300 | +11.7% |
| Tangible fixed assets | 22/27 | €87,940 | €98,240 | +€10,300 | +11.7% |
| Plant, machinery and equipment | 23 | €15,999 | €13,091 | -€2,907 | -18.2% |
| Furniture and vehicles | 24 | €884 | €457 | -€427 | -48.3% |
| Other tangible fixed assets | 26 | €71,057 | €84,691 | +€13,634 | +19.2% |
| Current assets | 29/58 | €71,177 | €69,363 | -€1,814 | -2.5% |
| Stocks and contracts in progress | 3 | €4,253 | €9,751 | +€5,498 | +129.3% |
| Stocks | 30/36 | €4,253 | €9,751 | +€5,498 | +129.3% |
| Amounts receivable within one year | 40/41 | €7,021 | €12,995 | +€5,975 | +85.1% |
| Trade receivables | 40 | €3,642 | €2,408 | -€1,234 | -33.9% |
| Other amounts receivable | 41 | €3,379 | €10,587 | +€7,208 | +213.3% |
| Cash at bank and in hand | 54/58 | €59,715 | €46,186 | -€13,529 | -22.7% |
| Deferred charges and accrued income | 490/1 | €189 | €430 | +€242 | +128.2% |
| Total equity and liabilities | 10/49 | €159,116 | €167,602 | +€8,486 | +5.3% |
| Equity | 10/15 | €60,492 | €61,670 | +€1,178 | +1.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €52,839 | €52,839 | = | 0.0% |
| Distributable reserves | 133 | €52,839 | €52,839 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,453 | €2,630 | +€1,178 | +81.1% |
| Provisions and deferred taxes | 16 | €14,000 | - | -€14,000 | |
| Provisions for liabilities and charges | 160/5 | €14,000 | - | -€14,000 | |
| Environmental obligations | 163 | €14,000 | - | -€14,000 | |
| Amounts payable | 17/49 | €84,624 | €105,933 | +€21,308 | +25.2% |
| Amounts payable after more than one year | 17 | - | €17,448 | +€17,448 | |
| Financial debts | 170/4 | - | €17,448 | +€17,448 | |
| Amounts payable within one year | 42/48 | €83,945 | €87,530 | +€3,585 | +4.3% |
| Current portion of amounts payable after more than one year | 42 | - | €7,277 | +€7,277 | |
| Financial debts | 43 | - | €3,231 | +€3,231 | |
| Credit institutions | 430/8 | - | €3,231 | +€3,231 | |
| Trade debts | 44 | €10,012 | €9,671 | -€340 | -3.4% |
| Suppliers | 440/4 | €10,012 | €9,671 | -€340 | -3.4% |
| Taxes, remuneration and social security | 45 | €9,226 | €7,323 | -€1,903 | -20.6% |
| Taxes | 450/3 | €8,026 | €5,573 | -€2,453 | -30.6% |
| Remuneration and social security | 454/9 | €1,200 | €1,750 | +€550 | +45.8% |
| Other amounts payable | 47/48 | €64,708 | €60,028 | -€4,680 | -7.2% |
| Accrued charges and deferred income | 492/3 | €679 | €954 | +€275 | +40.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,884 | €14,752 | +€2,868 | +24.1% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €14,000 | -€14,000 | -€28,000 | |
| Other operating charges | 640/8 | €428 | €1,045 | +€617 | +144.1% |
| Gross operating margin | 9900 | €65,184 | €5,708 | -€59,476 | -91.2% |
| Operating profit (loss) | 9901 | €38,872 | €3,911 | -€34,961 | -89.9% |
| Financial income | 75/76B | - | €36 | +€36 | |
| Recurring financial income | 75 | - | €36 | +€36 | |
| Financial charges | 65/66B | €4,699 | €2,661 | -€2,038 | -43.4% |
| Recurring financial charges | 65 | €4,699 | €2,661 | -€2,038 | -43.4% |
| Profit (loss) for the period before taxes | 9903 | €34,173 | €1,286 | -€32,887 | -96.2% |
| Income taxes | 67/77 | €7,573 | €108 | -€7,465 | -98.6% |
| Profit (loss) for the period | 9904 | €26,600 | €1,178 | -€25,422 | -95.6% |
| Profit (loss) for the period to be appropriated | 9905 | €26,600 | €1,178 | -€25,422 | -95.6% |
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 1 October 2026 via checked.be.