LA DEVINIERE: 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.
LA DEVINIERE
Largest movements
- Tangible fixed assets +€702,609
up €702,609 (+30.5%), from €2.3m to €3.0m
of which Other tangible fixed assets: +€711,456
- Cash -€121,589
down €121,589 (-35.5%), from €342,084 to €220,495
mainly Investment in fixed assets (net) (-€839,618) and Deferred charges and accrued income (-€3,338)
- Receivables within one year -€79,059
down €79,059 (-21.0%), from €376,355 to €297,296
of which Trade receivables: -€96,143
- Investment grants +€223,613
up €223,613 (+27.8%), from €803,273 to €1.0m
- Debts after one year +€149,950
up €149,950 (+11.3%), from €1.3m to €1.5m
- Profit (loss) carried forward +€96,358
up €96,358 (+105.1%), from €91,724 to €188,082
- Gross operating margin +€165,760
up €165,760 (+6.9%), from €2.4m to €2.6m
- Financial income +€97,560
up €97,560 (+321.0%), from €30,392 to €127,953
of which Non-recurring financial income: +€88,661
- Other operating charges +€27,005
up €27,005 (+6.7%), from €404,173 to €431,177
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 | €3,097,910 | €3,599,098 | +€501,188 | +16.2% |
| Fixed assets | 21/28 | €2,358,715 | €3,061,324 | +€702,609 | +29.8% |
| Tangible fixed assets | 22/27 | €2,307,173 | €3,009,782 | +€702,609 | +30.5% |
| Plant, machinery and equipment | 23 | €25,308 | €21,129 | -€4,179 | -16.5% |
| Furniture and vehicles | 24 | €23,452 | €18,784 | -€4,669 | -19.9% |
| Other tangible fixed assets | 26 | €2,258,413 | €2,969,869 | +€711,456 | +31.5% |
| Financial fixed assets | 28 | €51,542 | €51,542 | = | 0.0% |
| Current assets | 29/58 | €739,195 | €537,774 | -€201,421 | -27.2% |
| Stocks and contracts in progress | 3 | €10,134 | €6,024 | -€4,110 | -40.6% |
| Stocks | 30/36 | €10,134 | €6,024 | -€4,110 | -40.6% |
| Amounts receivable within one year | 40/41 | €376,355 | €297,296 | -€79,059 | -21.0% |
| Trade receivables | 40 | €184,787 | €88,644 | -€96,143 | -52.0% |
| Other amounts receivable | 41 | €191,569 | €208,652 | +€17,083 | +8.9% |
| Cash at bank and in hand | 54/58 | €342,084 | €220,495 | -€121,589 | -35.5% |
| Deferred charges and accrued income | 490/1 | €10,621 | €13,959 | +€3,338 | +31.4% |
| Total equity and liabilities | 10/49 | €3,097,910 | €3,599,098 | +€501,188 | +16.2% |
| Equity | 10/15 | €894,997 | €1,214,968 | +€319,971 | +35.8% |
| Profit (loss) carried forward | 14 | €91,724 | €188,082 | +€96,358 | +105.1% |
| Investment grants | 15 | €803,273 | €1,026,886 | +€223,613 | +27.8% |
| Provisions and deferred taxes | 16 | €10,000 | €10,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €10,000 | €10,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €10,000 | €10,000 | = | 0.0% |
| Amounts payable | 17/49 | €2,192,913 | €2,374,130 | +€181,217 | +8.3% |
| Amounts payable after more than one year | 17 | €1,329,148 | €1,479,099 | +€149,950 | +11.3% |
| Financial debts | 170/4 | €1,329,148 | €1,479,099 | +€149,950 | +11.3% |
| Amounts payable within one year | 42/48 | €863,765 | €895,031 | +€31,267 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | €51,725 | €69,439 | +€17,714 | +34.2% |
| Trade debts | 44 | €124,711 | €187,122 | +€62,410 | +50.0% |
| Suppliers | 440/4 | €124,711 | €187,122 | +€62,410 | +50.0% |
| Taxes, remuneration and social security | 45 | €379,968 | €344,437 | -€35,530 | -9.4% |
| Taxes | 450/3 | €38,166 | €17,743 | -€20,423 | -53.5% |
| Remuneration and social security | 454/9 | €341,801 | €326,694 | -€15,107 | -4.4% |
| Remuneration, social security and pensions | 62 | €1,967,933 | €1,993,165 | +€25,232 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €120,446 | €137,009 | +€16,563 | +13.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€7,000 | - | +€7,000 | |
| Other operating charges | 640/8 | €404,173 | €431,177 | +€27,005 | +6.7% |
| Gross operating margin | 9900 | €2,394,737 | €2,560,496 | +€165,760 | +6.9% |
| Operating profit (loss) | 9901 | -€90,814 | -€855 | +€89,960 | +99.1% |
| Financial income | 75/76B | €30,392 | €127,953 | +€97,560 | +321.0% |
| Recurring financial income | 75 | €30,392 | €39,292 | +€8,899 | +29.3% |
| Non-recurring financial income | 76B | - | €88,661 | +€88,661 | |
| Financial charges | 65/66B | €28,251 | €30,740 | +€2,488 | +8.8% |
| Recurring financial charges | 65 | €28,251 | €30,740 | +€2,488 | +8.8% |
| Profit (loss) for the period before taxes | 9903 | -€88,673 | €96,358 | +€185,032 | |
| Profit (loss) for the period | 9904 | -€88,673 | €96,358 | +€185,032 | |
| Profit (loss) for the period to be appropriated | 9905 | -€88,673 | €96,358 | +€185,032 |
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 5 October 2026 via checked.be.