DVZ MANAGEMENT: 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.
DVZ MANAGEMENT
Largest movements
- Tangible fixed assets +€454,687
up €454,687 (+88.8%), from €511,957 to €966,644
of which Land and buildings: +€478,373
- Cash +€23,549
up €23,549 (+675%), from €3,488 to €27,037
mainly Debts after one year (+€382,063) and Other debts (+€60,855)
- Debts after one year +€382,063
up €382,063 (+85.2%), from €448,176 to €830,239
- Other debts +€60,855
up €60,855 (+35.8%), from €169,902 to €230,757
- Reserves +€34,616
up €34,616 (+84.2%), from €41,133 to €75,749
- Tax, wage and social debts -€15,146
down €15,146 (-48.9%), from €30,945 to €15,800
- Other operating charges -€51,398
down €51,398 (-93.7%), from €54,859 to €3,461
- Gross operating margin +€28,046
up €28,046 (+31.0%), from €90,382 to €118,428
- Taxes +€13,010
up €13,010 (+3,078%), from €423 to €13,433
- Depreciation +€11,518
up €11,518 (+43.8%), from €26,295 to €37,813
- Financial charges +€6,354
up €6,354 (+27.9%), from €22,753 to €29,107
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 | €745,137 | €1,218,036 | +€472,900 | +63.5% |
| Fixed assets | 21/28 | €712,047 | €1,166,734 | +€454,687 | +63.9% |
| Tangible fixed assets | 22/27 | €511,957 | €966,644 | +€454,687 | +88.8% |
| Land and buildings | 22 | €416,592 | €894,964 | +€478,373 | +115% |
| Furniture and vehicles | 24 | €95,365 | €71,679 | -€23,686 | -24.8% |
| Financial fixed assets | 28 | €200,091 | €200,091 | = | 0.0% |
| Current assets | 29/58 | €33,089 | €51,302 | +€18,213 | +55.0% |
| Amounts receivable within one year | 40/41 | €27,800 | €24,265 | -€3,535 | -12.7% |
| Trade receivables | 40 | €7,800 | €5,151 | -€2,649 | -34.0% |
| Other amounts receivable | 41 | €20,000 | €19,113 | -€887 | -4.4% |
| Cash at bank and in hand | 54/58 | €3,488 | €27,037 | +€23,549 | +675% |
| Deferred charges and accrued income | 490/1 | €1,801 | - | -€1,801 | |
| Total equity and liabilities | 10/49 | €745,137 | €1,218,036 | +€472,900 | +63.5% |
| Equity | 10/15 | €45,133 | €79,749 | +€34,616 | +76.7% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €41,133 | €75,749 | +€34,616 | +84.2% |
| Distributable reserves | 133 | €41,133 | €75,749 | +€34,616 | +84.2% |
| Amounts payable | 17/49 | €700,003 | €1,138,287 | +€438,284 | +62.6% |
| Amounts payable after more than one year | 17 | €448,176 | €830,239 | +€382,063 | +85.2% |
| Financial debts | 170/4 | €448,176 | €830,239 | +€382,063 | +85.2% |
| Amounts payable within one year | 42/48 | €251,827 | €308,048 | +€56,221 | +22.3% |
| Current portion of amounts payable after more than one year | 42 | €50,980 | €60,723 | +€9,744 | +19.1% |
| Trade debts | 44 | - | €768 | +€768 | |
| Suppliers | 440/4 | - | €768 | +€768 | |
| Taxes, remuneration and social security | 45 | €30,945 | €15,800 | -€15,146 | -48.9% |
| Taxes | 450/3 | €30,945 | €15,800 | -€15,146 | -48.9% |
| Other amounts payable | 47/48 | €169,902 | €230,757 | +€60,855 | +35.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,295 | €37,813 | +€11,518 | +43.8% |
| Other operating charges | 640/8 | €54,859 | €3,461 | -€51,398 | -93.7% |
| Gross operating margin | 9900 | €90,382 | €118,428 | +€28,046 | +31.0% |
| Operating profit (loss) | 9901 | €9,228 | €77,154 | +€67,926 | +736% |
| Financial income | 75/76B | €58 | €1 | -€57 | -98.7% |
| Recurring financial income | 75 | €58 | €1 | -€57 | -98.7% |
| Financial charges | 65/66B | €22,753 | €29,107 | +€6,354 | +27.9% |
| Recurring financial charges | 65 | €22,753 | €29,107 | +€6,354 | +27.9% |
| Profit (loss) for the period before taxes | 9903 | -€13,466 | €48,048 | +€61,515 | |
| Income taxes | 67/77 | €423 | €13,433 | +€13,010 | +3,078% |
| Profit (loss) for the period | 9904 | -€13,889 | €34,616 | +€48,505 | |
| Profit (loss) for the period to be appropriated | 9905 | -€13,889 | €34,616 | +€48,505 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.