D3V: what changed
D3V
Largest movements
- Cash +€342,334
up €342,334 (+95.8%), from €357,318 to €699,652
mainly Net result for the year (+€524,569) and Depreciation (+€146,522)
- Receivables within one year -€69,666
down €69,666 (-10.6%), from €655,058 to €585,392
of which Trade receivables: -€72,303
- Intangible fixed assets -€49,589
down €49,589 (-18.7%), from €264,828 to €215,239
- Tangible fixed assets -€36,621
down €36,621 (-5.7%), from €644,448 to €607,828
of which Plant, machinery and equipment: -€52,757
- Other debts +€102,302
up €102,302 (+20.0%), from €512,418 to €614,719
- Accrued charges and deferred income +€100,000
new in 2025: €100,000
- Trade debts -€63,505
down €63,505 (-46.3%), from €137,058 to €73,553
- Reserves +€30,000
up €30,000 (+3.8%), from €781,192 to €811,192
of which Distributable reserves: +€30,000
- Tax, wage and social debts +€26,824
up €26,824 (+12.6%), from €212,346 to €239,170
of which Remuneration and social security: +€20,476
- Gross operating margin +€257,229
up €257,229 (+16.3%), from €1.6m to €1.8m
- Staff costs +€40,618
up €40,618 (+4.1%), from €998,540 to €1.0m
- Other operating charges -€29,783
down €29,783 (-63.6%), from €46,841 to €17,058
- Taxes +€26,314
up €26,314 (+34.3%), from €76,723 to €103,037
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,181,026 | €2,371,216 | +€190,190 | +8.7% |
| Fixed assets | 21/28 | €909,284 | €824,074 | -€85,210 | -9.4% |
| Intangible fixed assets | 21 | €264,828 | €215,239 | -€49,589 | -18.7% |
| Tangible fixed assets | 22/27 | €644,448 | €607,828 | -€36,621 | -5.7% |
| Land and buildings | 22 | €362,569 | €355,988 | -€6,581 | -1.8% |
| Plant, machinery and equipment | 23 | €193,644 | €140,887 | -€52,757 | -27.2% |
| Furniture and vehicles | 24 | €88,235 | €110,953 | +€22,717 | +25.7% |
| Financial fixed assets | 28 | €8 | €1,008 | +€1,000 | +12,092% |
| Current assets | 29/58 | €1,271,742 | €1,547,142 | +€275,400 | +21.7% |
| Stocks and contracts in progress | 3 | €20,854 | €25,721 | +€4,868 | +23.3% |
| Stocks | 30/36 | €20,854 | €25,721 | +€4,868 | +23.3% |
| Amounts receivable within one year | 40/41 | €655,058 | €585,392 | -€69,666 | -10.6% |
| Trade receivables | 40 | €655,058 | €582,754 | -€72,303 | -11.0% |
| Other amounts receivable | 41 | - | €2,637 | +€2,637 | |
| Current investments | 50/53 | €231,266 | €231,266 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €357,318 | €699,652 | +€342,334 | +95.8% |
| Deferred charges and accrued income | 490/1 | €7,246 | €5,110 | -€2,136 | -29.5% |
| Total equity and liabilities | 10/49 | €2,181,026 | €2,371,216 | +€190,190 | +8.7% |
| Equity | 10/15 | €1,319,204 | €1,343,774 | +€24,569 | +1.9% |
| Contributions | 10/11 | €499,500 | €499,500 | = | 0.0% |
| Capital | 10 | €499,500 | €499,500 | = | 0.0% |
| Issued capital | 100 | €499,500 | €499,500 | = | 0.0% |
| Revaluation surpluses | 12 | €28,059 | €28,059 | = | 0.0% |
| Reserves | 13 | €781,192 | €811,192 | +€30,000 | +3.8% |
| Non-distributable reserves | 130/1 | €49,950 | €49,950 | = | 0.0% |
| Legal reserve | 130 | €49,950 | €49,950 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,242 | €1,242 | = | 0.0% |
| Distributable reserves | 133 | €730,000 | €760,000 | +€30,000 | +4.1% |
| Profit (loss) carried forward | 14 | €10,453 | €5,022 | -€5,431 | -52.0% |
| Amounts payable | 17/49 | €861,821 | €1,027,442 | +€165,621 | +19.2% |
| Amounts payable within one year | 42/48 | €861,821 | €927,442 | +€65,621 | +7.6% |
| Trade debts | 44 | €137,058 | €73,553 | -€63,505 | -46.3% |
| Suppliers | 440/4 | €137,058 | €73,553 | -€63,505 | -46.3% |
| Taxes, remuneration and social security | 45 | €212,346 | €239,170 | +€26,824 | +12.6% |
| Taxes | 450/3 | €80,679 | €87,027 | +€6,347 | +7.9% |
| Remuneration and social security | 454/9 | €131,667 | €152,143 | +€20,476 | +15.6% |
| Other amounts payable | 47/48 | €512,418 | €614,719 | +€102,302 | +20.0% |
| Accrued charges and deferred income | 492/3 | - | €100,000 | +€100,000 | |
| Non-recurring operating income | 76A | €1,500 | - | -€1,500 | |
| Remuneration, social security and pensions | 62 | €998,540 | €1,039,157 | +€40,618 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €147,871 | €146,522 | -€1,349 | -0.9% |
| Other operating charges | 640/8 | €46,841 | €17,058 | -€29,783 | -63.6% |
| Non-recurring operating charges | 66A | - | €489 | +€489 | |
| Gross operating margin | 9900 | €1,578,416 | €1,835,645 | +€257,229 | +16.3% |
| Operating profit (loss) | 9901 | €385,164 | €632,418 | +€247,254 | +64.2% |
| Financial income | 75/76B | €12,643 | €6,834 | -€5,808 | -45.9% |
| Recurring financial income | 75 | €12,643 | €6,834 | -€5,808 | -45.9% |
| Financial charges | 65/66B | €5,138 | €11,646 | +€6,508 | +127% |
| Recurring financial charges | 65 | €5,138 | €11,646 | +€6,508 | +127% |
| Profit (loss) for the period before taxes | 9903 | €392,668 | €627,606 | +€234,938 | +59.8% |
| Income taxes | 67/77 | €76,723 | €103,037 | +€26,314 | +34.3% |
| Profit (loss) for the period | 9904 | €315,946 | €524,569 | +€208,624 | +66.0% |
| Profit (loss) for the period to be appropriated | 9905 | €315,946 | €524,569 | +€208,624 | +66.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.