GEBROEDERS DEVUE: 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.
GEBROEDERS DEVUE
Largest movements
- Cash +€144,677
up €144,677 (+136%), from €106,451 to €251,128
mainly Net result for the year (+€116,595) and Depreciation (+€106,912)
- Tangible fixed assets -€42,759
down €42,759 (-3.3%), from €1.3m to €1.3m
of which Land and buildings: -€26,839
- Receivables within one year +€21,261
up €21,261 (+11.6%), from €182,886 to €204,147
of which Trade receivables: +€12,193
- Reserves +€116,221
up €116,221 (+12.9%), from €900,128 to €1.0m
of which Distributable reserves: +€110,329
- Debts after one year -€104,126
down €104,126 (-22.6%), from €460,489 to €356,362
- Trade debts +€64,440
up €64,440 (+2,203%), from €2,925 to €67,365
- Tax, wage and social debts +€38,853
up €38,853 (+80.0%), from €48,594 to €87,447
of which Taxes: +€45,095
- Taxes -€8,945
down €8,945 (-16.4%), from €54,487 to €45,543
- Gross operating margin -€8,342
down €8,342 (-2.6%), from €314,858 to €306,515
- Staff costs +€8,088
up €8,088 (+83.2%), from €9,724 to €17,812
- Depreciation +€6,022
up €6,022 (+6.0%), from €100,890 to €106,912
- Other operating charges +€4,408
up €4,408 (+51.5%), from €8,555 to €12,962
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 | €1,615,530 | €1,732,850 | +€117,320 | +7.3% |
| Fixed assets | 21/28 | €1,306,506 | €1,263,746 | -€42,759 | -3.3% |
| Tangible fixed assets | 22/27 | €1,306,506 | €1,263,746 | -€42,759 | -3.3% |
| Land and buildings | 22 | €1,161,976 | €1,135,137 | -€26,839 | -2.3% |
| Plant, machinery and equipment | 23 | €12,035 | €4,738 | -€7,297 | -60.6% |
| Furniture and vehicles | 24 | €132,494 | €123,871 | -€8,624 | -6.5% |
| Current assets | 29/58 | €309,024 | €469,103 | +€160,080 | +51.8% |
| Amounts receivable within one year | 40/41 | €182,886 | €204,147 | +€21,261 | +11.6% |
| Trade receivables | 40 | €37,710 | €49,903 | +€12,193 | +32.3% |
| Other amounts receivable | 41 | €145,176 | €154,244 | +€9,068 | +6.2% |
| Current investments | 50/53 | €12,840 | €12,840 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €106,451 | €251,128 | +€144,677 | +136% |
| Deferred charges and accrued income | 490/1 | €6,847 | €989 | -€5,858 | -85.6% |
| Total equity and liabilities | 10/49 | €1,615,530 | €1,732,850 | +€117,320 | +7.3% |
| Equity | 10/15 | €906,328 | €1,022,549 | +€116,221 | +12.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €900,128 | €1,016,349 | +€116,221 | +12.9% |
| Tax-exempt reserves | 132 | €9,349 | €15,242 | +€5,892 | +63.0% |
| Distributable reserves | 133 | €890,779 | €1,001,108 | +€110,329 | +12.4% |
| Provisions and deferred taxes | 16 | €3,116 | €5,081 | +€1,964 | +63.0% |
| Deferred taxes | 168 | €3,116 | €5,081 | +€1,964 | +63.0% |
| Amounts payable | 17/49 | €706,085 | €705,220 | -€865 | -0.1% |
| Amounts payable after more than one year | 17 | €460,489 | €356,362 | -€104,126 | -22.6% |
| Financial debts | 170/4 | €460,489 | €356,362 | -€104,126 | -22.6% |
| Amounts payable within one year | 42/48 | €245,596 | €345,903 | +€100,306 | +40.8% |
| Current portion of amounts payable after more than one year | 42 | €109,676 | €106,688 | -€2,988 | -2.7% |
| Trade debts | 44 | €2,925 | €67,365 | +€64,440 | +2,203% |
| Suppliers | 440/4 | €2,925 | €67,365 | +€64,440 | +2,203% |
| Taxes, remuneration and social security | 45 | €48,594 | €87,447 | +€38,853 | +80.0% |
| Taxes | 450/3 | €42,352 | €87,447 | +€45,095 | +106% |
| Remuneration and social security | 454/9 | €6,242 | €0 | -€6,242 | -100% |
| Other amounts payable | 47/48 | €84,402 | €84,402 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €2,955 | +€2,955 | |
| Remuneration, social security and pensions | 62 | €9,724 | €17,812 | +€8,088 | +83.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €100,890 | €106,912 | +€6,022 | +6.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €8,555 | €12,962 | +€4,408 | +51.5% |
| Gross operating margin | 9900 | €314,858 | €306,515 | -€8,342 | -2.6% |
| Operating profit (loss) | 9901 | €195,689 | €168,828 | -€26,860 | -13.7% |
| Financial income | 75/76B | €9,198 | €8,359 | -€840 | -9.1% |
| Recurring financial income | 75 | €9,198 | €8,359 | -€840 | -9.1% |
| Financial charges | 65/66B | €16,400 | €13,086 | -€3,315 | -20.2% |
| Recurring financial charges | 65 | €16,400 | €13,086 | -€3,315 | -20.2% |
| Profit (loss) for the period before taxes | 9903 | €188,487 | €164,101 | -€24,385 | -12.9% |
| Transfer from deferred taxes | 780 | €341 | €1,112 | +€772 | +227% |
| Transfer to deferred taxes | 680 | €3,125 | €3,076 | -€49 | -1.6% |
| Income taxes | 67/77 | €54,487 | €45,543 | -€8,945 | -16.4% |
| Profit (loss) for the period | 9904 | €131,215 | €116,595 | -€14,620 | -11.1% |
| Transfer from tax-exempt reserves | 789 | €3,014 | €3,336 | +€323 | +10.7% |
| Transfer to tax-exempt reserves | 689 | €9,375 | €9,229 | -€146 | -1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €124,854 | €110,702 | -€14,151 | -11.3% |
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 17 October 2026 via checked.be.