DVWR: 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.
DVWR
Largest movements
- Cash -€145,398
down €145,398 (-43.6%), from €333,358 to €187,960
mainly Contributions, distributions and other (-€820,000) and Debts after one year (-€76,512)
- Intangible fixed assets -€75,373
down €75,373 (-25.0%), from €301,493 to €226,120
- Receivables within one year +€19,287
up €19,287 (+539.8%), from €3,573 to €22,859
- Current investments +€17,734
up €17,734 (+8.7%), from €204,500 to €222,234
- Profit (loss) carried forward -€422,103
down €422,103 (-89.7%), from €470,687 to €48,584
- Other debts +€350,000
new in 2025: €350,000
- Debts after one year -€76,512
down €76,512 (-27.0%), from €283,678 to €207,166
- Tax, wage and social debts -€35,150
down €35,150 (-67.6%), from €51,993 to €16,843
- Gross operating margin -€24,128
down €24,128 (-3.9%), from €624,857 to €600,728
- Financial income +€6,820
new in 2025: €6,820
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 | €904,571 | €720,566 | -€184,005 | -20.3% |
| Fixed assets | 21/28 | €307,550 | €231,124 | -€76,426 | -24.8% |
| Intangible fixed assets | 21 | €301,493 | €226,120 | -€75,373 | -25.0% |
| Tangible fixed assets | 22/27 | €6,057 | €5,004 | -€1,053 | -17.4% |
| Plant, machinery and equipment | 23 | €2,994 | €2,587 | -€407 | -13.6% |
| Furniture and vehicles | 24 | €3,063 | €2,418 | -€646 | -21.1% |
| Current assets | 29/58 | €597,021 | €489,442 | -€107,579 | -18.0% |
| Amounts receivable within one year | 40/41 | €3,573 | €22,859 | +€19,287 | +539.8% |
| Other amounts receivable | 41 | €3,573 | €22,859 | +€19,287 | +539.8% |
| Current investments | 50/53 | €204,500 | €222,234 | +€17,734 | +8.7% |
| Cash at bank and in hand | 54/58 | €333,358 | €187,960 | -€145,398 | -43.6% |
| Deferred charges and accrued income | 490/1 | €55,591 | €56,389 | +€798 | +1.4% |
| Total equity and liabilities | 10/49 | €904,571 | €720,566 | -€184,005 | -20.3% |
| Equity | 10/15 | €491,147 | €69,044 | -€422,103 | -85.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €470,687 | €48,584 | -€422,103 | -89.7% |
| Amounts payable | 17/49 | €413,425 | €651,522 | +€238,098 | +57.6% |
| Amounts payable after more than one year | 17 | €283,678 | €207,166 | -€76,512 | -27.0% |
| Financial debts | 170/4 | €283,678 | €207,166 | -€76,512 | -27.0% |
| Amounts payable within one year | 42/48 | €129,746 | €444,356 | +€314,610 | +242.5% |
| Current portion of amounts payable after more than one year | 42 | €75,879 | €76,512 | +€633 | +0.8% |
| Trade debts | 44 | €1,874 | €1,001 | -€873 | -46.6% |
| Suppliers | 440/4 | €1,874 | €1,001 | -€873 | -46.6% |
| Taxes, remuneration and social security | 45 | €51,993 | €16,843 | -€35,150 | -67.6% |
| Taxes | 450/3 | €51,993 | €16,843 | -€35,150 | -67.6% |
| Other amounts payable | 47/48 | - | €350,000 | +€350,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,662 | €76,426 | -€236 | -0.3% |
| Other operating charges | 640/8 | €1,390 | €785 | -€605 | -43.5% |
| Gross operating margin | 9900 | €624,857 | €600,728 | -€24,128 | -3.9% |
| Operating profit (loss) | 9901 | €546,804 | €523,517 | -€23,287 | -4.3% |
| Financial income | 75/76B | - | €6,820 | +€6,820 | |
| Recurring financial income | 75 | - | €6,820 | +€6,820 | |
| Financial charges | 65/66B | €5,530 | €4,739 | -€791 | -14.3% |
| Recurring financial charges | 65 | €5,530 | €4,739 | -€791 | -14.3% |
| Profit (loss) for the period before taxes | 9903 | €541,275 | €525,598 | -€15,676 | -2.9% |
| Income taxes | 67/77 | €131,843 | €127,701 | -€4,142 | -3.1% |
| Profit (loss) for the period | 9904 | €409,432 | €397,897 | -€11,535 | -2.8% |
| Profit (loss) for the period to be appropriated | 9905 | €409,432 | €397,897 | -€11,535 | -2.8% |
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 7 October 2026 via checked.be.