DEVAN: 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.
DEVAN
Largest movements
- Cash +€140,449
up €140,449 (+165%), from €85,053 to €225,502
mainly Net result for the year (+€73,766) and Depreciation (+€53,729)
- Receivables within one year -€50,828
down €50,828 (-57.5%), from €88,354 to €37,526
of which Trade receivables: -€32,140
- Tangible fixed assets -€34,460
down €34,460 (-6.2%), from €551,736 to €517,276
of which Land and buildings: -€22,517
- Stocks and contracts -€22,681
down €22,681 (-10.3%), from €219,494 to €196,813
- Profit (loss) carried forward +€40,912
up €40,912, from -€40,912 to €0
- Reserves +€31,188
up €31,188 (+12.7%), from €245,273 to €276,461
- Tax, wage and social debts +€21,770
up €21,770 (+330%), from €6,589 to €28,359
of which Taxes: +€21,742
- Other debts -€18,429
down €18,429 (-37.7%), from €48,872 to €30,443
- Current portion of long-term debt -€13,713
down €13,713 (-57.8%), from €23,713 to €10,000
- Gross operating margin +€75,117
up €75,117 (+47.9%), from €156,667 to €231,784
- Taxes +€15,927
up €15,927 (+185%), from €8,607 to €24,534
- Depreciation +€3,800
up €3,800 (+7.6%), from €49,929 to €53,729
- Other operating charges +€2,703
up €2,703 (+26.0%), from €10,393 to €13,096
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 | €950,196 | €982,995 | +€32,799 | +3.5% |
| Fixed assets | 21/28 | €551,736 | €521,558 | -€30,178 | -5.5% |
| Intangible fixed assets | 21 | - | €4,282 | +€4,282 | |
| Tangible fixed assets | 22/27 | €551,736 | €517,276 | -€34,460 | -6.2% |
| Land and buildings | 22 | €415,206 | €392,689 | -€22,517 | -5.4% |
| Plant, machinery and equipment | 23 | €135,341 | €124,587 | -€10,754 | -7.9% |
| Furniture and vehicles | 24 | €1,189 | €0 | -€1,189 | -100% |
| Current assets | 29/58 | €398,460 | €461,438 | +€62,977 | +15.8% |
| Stocks and contracts in progress | 3 | €219,494 | €196,813 | -€22,681 | -10.3% |
| Stocks | 30/36 | €219,494 | €196,813 | -€22,681 | -10.3% |
| Amounts receivable within one year | 40/41 | €88,354 | €37,526 | -€50,828 | -57.5% |
| Trade receivables | 40 | €69,666 | €37,526 | -€32,140 | -46.1% |
| Other amounts receivable | 41 | €18,688 | €0 | -€18,688 | -100% |
| Cash at bank and in hand | 54/58 | €85,053 | €225,502 | +€140,449 | +165% |
| Deferred charges and accrued income | 490/1 | €5,560 | €1,597 | -€3,963 | -71.3% |
| Total equity and liabilities | 10/49 | €950,196 | €982,995 | +€32,799 | +3.5% |
| Equity | 10/15 | €799,361 | €871,461 | +€72,100 | +9.0% |
| Contributions | 10/11 | €595,000 | €595,000 | = | 0.0% |
| Reserves | 13 | €245,273 | €276,461 | +€31,188 | +12.7% |
| Distributable reserves | 133 | €245,273 | €276,461 | +€31,188 | +12.7% |
| Profit (loss) carried forward | 14 | -€40,912 | €0 | +€40,912 | |
| Amounts payable | 17/49 | €150,835 | €111,534 | -€39,301 | -26.1% |
| Amounts payable after more than one year | 17 | €10,000 | €0 | -€10,000 | -100% |
| Financial debts | 170/4 | €10,000 | €0 | -€10,000 | -100% |
| Amounts payable within one year | 42/48 | €127,233 | €108,675 | -€18,558 | -14.6% |
| Current portion of amounts payable after more than one year | 42 | €23,713 | €10,000 | -€13,713 | -57.8% |
| Trade debts | 44 | €48,060 | €39,874 | -€8,186 | -17.0% |
| Suppliers | 440/4 | €48,060 | €39,874 | -€8,186 | -17.0% |
| Taxes, remuneration and social security | 45 | €6,589 | €28,359 | +€21,770 | +330% |
| Taxes | 450/3 | €2,073 | €23,815 | +€21,742 | +1,049% |
| Remuneration and social security | 454/9 | €4,516 | €4,544 | +€28 | +0.6% |
| Other amounts payable | 47/48 | €48,872 | €30,443 | -€18,429 | -37.7% |
| Accrued charges and deferred income | 492/3 | €13,602 | €2,859 | -€10,743 | -79.0% |
| Non-recurring operating income | 76A | - | €10,763 | +€10,763 | |
| Remuneration, social security and pensions | 62 | €59,126 | €61,432 | +€2,307 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,929 | €53,729 | +€3,800 | +7.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €821 | €0 | -€821 | -100% |
| Other operating charges | 640/8 | €10,393 | €13,096 | +€2,703 | +26.0% |
| Non-recurring operating charges | 66A | - | €1,485 | +€1,485 | |
| Gross operating margin | 9900 | €156,667 | €231,784 | +€75,117 | +47.9% |
| Operating profit (loss) | 9901 | €36,398 | €102,041 | +€65,643 | +180% |
| Financial income | 75/76B | €0 | €20 | +€20 | |
| Recurring financial income | 75 | €0 | €20 | +€20 | |
| Financial charges | 65/66B | €5,309 | €3,762 | -€1,548 | -29.2% |
| Recurring financial charges | 65 | €5,309 | €3,762 | -€1,548 | -29.2% |
| Profit (loss) for the period before taxes | 9903 | €31,089 | €98,300 | +€67,211 | +216% |
| Income taxes | 67/77 | €8,607 | €24,534 | +€15,927 | +185% |
| Profit (loss) for the period | 9904 | €22,482 | €73,766 | +€51,284 | +228% |
| Profit (loss) for the period to be appropriated | 9905 | €22,482 | €73,766 | +€51,284 | +228% |
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 24 October 2026 via checked.be.