R-DeVO: 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.
R-DeVO
Largest movements
- Cash -€55,919
down €55,919 (-80.1%), from €69,794 to €13,875
mainly Contributions, distributions and other (-€144,500) and Receivables within one year (-€17,314)
- Current investments -€27,003
down €27,003 (-79.4%), from €33,998 to €6,995
- Receivables within one year +€17,314
up €17,314 (+122.1%), from €14,176 to €31,489
of which Trade receivables: +€17,236
- Tangible fixed assets -€8,083
down €8,083 (-16.8%), from €48,241 to €40,158
of which Furniture and vehicles: -€18,235
- Reserves -€111,486
down €111,486 (-77.1%), from €144,516 to €33,030
- Other debts +€42,488
new in 2025: €42,488
- Current portion of long-term debt -€6,282
down €6,282 (-57.4%), from €10,952 to €4,670
- Tax, wage and social debts +€6,238
up €6,238 (+263.9%), from €2,364 to €8,602
- Debts after one year -€4,860
no longer reported in 2025 (was €4,860)
- Depreciation +€5,709
up €5,709 (+34.8%), from €16,408 to €22,117
- Financial income +€3,257
up €3,257 (+194.6%), from €1,674 to €4,931
- Gross operating margin -€2,327
down €2,327 (-3.6%), from €64,542 to €62,215
- Taxes -€1,138
down €1,138 (-10.1%), from €11,287 to €10,149
- Other operating charges +€1,006
up €1,006 (+195.7%), from €514 to €1,521
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 | €168,952 | €95,761 | -€73,191 | -43.3% |
| Fixed assets | 21/28 | €48,596 | €40,513 | -€8,083 | -16.6% |
| Tangible fixed assets | 22/27 | €48,241 | €40,158 | -€8,083 | -16.8% |
| Plant, machinery and equipment | 23 | €5,008 | €15,160 | +€10,152 | +202.7% |
| Furniture and vehicles | 24 | €43,233 | €24,998 | -€18,235 | -42.2% |
| Financial fixed assets | 28 | €355 | €355 | = | 0.0% |
| Current assets | 29/58 | €120,356 | €55,248 | -€65,108 | -54.1% |
| Amounts receivable within one year | 40/41 | €14,176 | €31,489 | +€17,314 | +122.1% |
| Trade receivables | 40 | €12,348 | €29,585 | +€17,236 | +139.6% |
| Other amounts receivable | 41 | €1,828 | €1,905 | +€77 | +4.2% |
| Current investments | 50/53 | €33,998 | €6,995 | -€27,003 | -79.4% |
| Cash at bank and in hand | 54/58 | €69,794 | €13,875 | -€55,919 | -80.1% |
| Deferred charges and accrued income | 490/1 | €2,389 | €2,889 | +€500 | +20.9% |
| Total equity and liabilities | 10/49 | €168,952 | €95,761 | -€73,191 | -43.3% |
| Equity | 10/15 | €149,516 | €38,030 | -€111,486 | -74.6% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €144,516 | €33,030 | -€111,486 | -77.1% |
| Distributable reserves | 133 | €144,516 | €33,030 | -€111,486 | -77.1% |
| Amounts payable | 17/49 | €19,436 | €57,730 | +€38,294 | +197.0% |
| Amounts payable after more than one year | 17 | €4,860 | - | -€4,860 | |
| Financial debts | 170/4 | €4,860 | - | -€4,860 | |
| Amounts payable within one year | 42/48 | €14,576 | €57,730 | +€43,155 | +296.1% |
| Current portion of amounts payable after more than one year | 42 | €10,952 | €4,670 | -€6,282 | -57.4% |
| Trade debts | 44 | €1,260 | €1,971 | +€711 | +56.4% |
| Suppliers | 440/4 | €1,260 | €1,971 | +€711 | +56.4% |
| Taxes, remuneration and social security | 45 | €2,364 | €8,602 | +€6,238 | +263.9% |
| Taxes | 450/3 | €2,364 | €8,602 | +€6,238 | +263.9% |
| Other amounts payable | 47/48 | - | €42,488 | +€42,488 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,408 | €22,117 | +€5,709 | +34.8% |
| Other operating charges | 640/8 | €514 | €1,521 | +€1,006 | +195.7% |
| Gross operating margin | 9900 | €64,542 | €62,215 | -€2,327 | -3.6% |
| Operating profit (loss) | 9901 | €47,619 | €38,578 | -€9,042 | -19.0% |
| Financial income | 75/76B | €1,674 | €4,931 | +€3,257 | +194.6% |
| Recurring financial income | 75 | €1,674 | €4,931 | +€3,257 | +194.6% |
| Financial charges | 65/66B | €252 | €345 | +€93 | +36.7% |
| Recurring financial charges | 65 | €252 | €345 | +€93 | +36.7% |
| Profit (loss) for the period before taxes | 9903 | €49,041 | €43,163 | -€5,877 | -12.0% |
| Income taxes | 67/77 | €11,287 | €10,149 | -€1,138 | -10.1% |
| Profit (loss) for the period | 9904 | €37,754 | €33,014 | -€4,739 | -12.6% |
| Profit (loss) for the period to be appropriated | 9905 | €37,754 | €33,014 | -€4,739 | -12.6% |
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 12 October 2026 via checked.be.