YVAN DEVINCK: 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.
YVAN DEVINCK
Largest movements
- Receivables within one year +€11,509
up €11,509 (+195.4%), from €5,891 to €17,399
of which Trade receivables: +€10,696
- Tangible fixed assets -€8,890
down €8,890 (-2.1%), from €417,664 to €408,774
of which Furniture and vehicles: -€5,176
- Trade debts +€38,288
up €38,288 (+66.8%), from €57,284 to €95,572
- Current portion of long-term debt -€24,992
down €24,992 (-57.0%), from €43,865 to €18,872
- Debts after one year -€18,872
down €18,872 (-49.7%), from €37,993 to €19,121
- Reserves +€13,609
up €13,609 (+16.7%), from €81,327 to €94,936
of which Distributable reserves: +€13,609
- Tax, wage and social debts -€6,148
down €6,148 (-6.8%), from €89,766 to €83,618
of which Remuneration and social security: -€8,187
- Gross operating margin -€64,931
down €64,931 (-11.6%), from €557,521 to €492,590
- Staff costs -€19,213
down €19,213 (-4.4%), from €434,235 to €415,022
- Taxes -€6,315
down €6,315 (-51.3%), from €12,306 to €5,992
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 | €482,189 | €484,973 | +€2,785 | +0.6% |
| Fixed assets | 21/28 | €417,664 | €408,774 | -€8,890 | -2.1% |
| Tangible fixed assets | 22/27 | €417,664 | €408,774 | -€8,890 | -2.1% |
| Land and buildings | 22 | €374,687 | €369,812 | -€4,875 | -1.3% |
| Plant, machinery and equipment | 23 | €20,835 | €21,997 | +€1,162 | +5.6% |
| Furniture and vehicles | 24 | €22,142 | €16,966 | -€5,176 | -23.4% |
| Current assets | 29/58 | €64,524 | €76,199 | +€11,675 | +18.1% |
| Stocks and contracts in progress | 3 | €13,043 | €13,043 | = | 0.0% |
| Stocks | 30/36 | €13,043 | €13,043 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €5,891 | €17,399 | +€11,509 | +195.4% |
| Trade receivables | 40 | €0 | €10,696 | +€10,696 | |
| Other amounts receivable | 41 | €5,891 | €6,703 | +€813 | +13.8% |
| Cash at bank and in hand | 54/58 | €39,736 | €42,708 | +€2,972 | +7.5% |
| Deferred charges and accrued income | 490/1 | €5,855 | €3,049 | -€2,806 | -47.9% |
| Total equity and liabilities | 10/49 | €482,189 | €484,973 | +€2,785 | +0.6% |
| Equity | 10/15 | €193,727 | €207,336 | +€13,609 | +7.0% |
| Contributions | 10/11 | €112,400 | €112,400 | = | 0.0% |
| Reserves | 13 | €81,327 | €94,936 | +€13,609 | +16.7% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €1,825 | €1,825 | = | 0.0% |
| Distributable reserves | 133 | €79,502 | €93,111 | +€13,609 | +17.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €41,213 | €41,213 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €41,213 | €41,213 | = | 0.0% |
| Pensions and similar obligations | 160 | €41,213 | €41,213 | = | 0.0% |
| Amounts payable | 17/49 | €247,248 | €236,424 | -€10,824 | -4.4% |
| Amounts payable after more than one year | 17 | €37,993 | €19,121 | -€18,872 | -49.7% |
| Financial debts | 170/4 | €37,993 | €19,121 | -€18,872 | -49.7% |
| Amounts payable within one year | 42/48 | €209,255 | €217,303 | +€8,048 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €43,865 | €18,872 | -€24,992 | -57.0% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €57,284 | €95,572 | +€38,288 | +66.8% |
| Suppliers | 440/4 | €57,284 | €95,572 | +€38,288 | +66.8% |
| Advances received on contracts in progress | 46 | €7,624 | €7,624 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €89,766 | €83,618 | -€6,148 | -6.8% |
| Taxes | 450/3 | €39,951 | €41,989 | +€2,039 | +5.1% |
| Remuneration and social security | 454/9 | €49,815 | €41,628 | -€8,187 | -16.4% |
| Other amounts payable | 47/48 | €10,717 | €11,617 | +€900 | +8.4% |
| Remuneration, social security and pensions | 62 | €434,235 | €415,022 | -€19,213 | -4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,191 | €41,281 | -€911 | -2.2% |
| Other operating charges | 640/8 | €8,768 | €8,165 | -€603 | -6.9% |
| Gross operating margin | 9900 | €557,521 | €492,590 | -€64,931 | -11.6% |
| Operating profit (loss) | 9901 | €72,327 | €28,122 | -€44,204 | -61.1% |
| Financial income | 75/76B | €293 | €423 | +€130 | +44.5% |
| Recurring financial income | 75 | €293 | €423 | +€130 | +44.5% |
| Financial charges | 65/66B | €7,940 | €8,945 | +€1,005 | +12.7% |
| Recurring financial charges | 65 | €7,940 | €8,945 | +€1,005 | +12.7% |
| Profit (loss) for the period before taxes | 9903 | €64,679 | €19,601 | -€45,079 | -69.7% |
| Income taxes | 67/77 | €12,306 | €5,992 | -€6,315 | -51.3% |
| Profit (loss) for the period | 9904 | €52,373 | €13,609 | -€38,764 | -74.0% |
| Profit (loss) for the period to be appropriated | 9905 | €52,373 | €13,609 | -€38,764 | -74.0% |
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 8 October 2026 via checked.be.