DEVAN: what changed
DEVAN
Largest movements
- Stocks and contracts +€64,852
up €64,852 (+96.0%), from €67,547 to €132,399
of which Contracts in progress: +€65,884
- Cash -€41,859
down €41,859 (-55.2%), from €75,845 to €33,986
mainly Stocks and contracts (-€64,852) and Contributions, distributions and other (-€55,411)
- Tangible fixed assets -€27,989
down €27,989 (-8.9%), from €314,280 to €286,290
of which Furniture and vehicles: -€21,227
- Receivables within one year -€9,566
down €9,566 (-7.5%), from €127,474 to €117,909
of which Trade receivables: -€8,945
- Other debts +€29,712
up €29,712 (+13.4%), from €222,301 to €252,012
- Reserves -€21,421
down €21,421 (-10.0%), from €213,874 to €192,452
- Advances received -€13,868
no longer reported in 2025 (was €13,868)
- Gross operating margin +€31,024
up €31,024 (+45.7%), from €67,920 to €98,944
- Taxes +€13,509
up €13,509 (+825%), from €1,637 to €15,146
- Financial income +€2,650
up €2,650 (+62.0%), from €4,272 to €6,922
- Depreciation -€2,624
down €2,624 (-6.1%), from €43,012 to €40,388
- Financial charges -€2,369
down €2,369 (-13.4%), from €17,711 to €15,341
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 | €606,585 | €586,186 | -€20,399 | -3.4% |
| Fixed assets | 21/28 | €314,280 | €286,290 | -€27,989 | -8.9% |
| Tangible fixed assets | 22/27 | €314,280 | €286,290 | -€27,989 | -8.9% |
| Land and buildings | 22 | €255,284 | €253,857 | -€1,427 | -0.6% |
| Plant, machinery and equipment | 23 | €22,380 | €17,045 | -€5,335 | -23.8% |
| Furniture and vehicles | 24 | €36,615 | €15,388 | -€21,227 | -58.0% |
| Current assets | 29/58 | €292,305 | €299,896 | +€7,590 | +2.6% |
| Stocks and contracts in progress | 3 | €67,547 | €132,399 | +€64,852 | +96.0% |
| Stocks | 30/36 | €16,767 | €15,735 | -€1,032 | -6.2% |
| Contracts in progress | 37 | €50,780 | €116,664 | +€65,884 | +130% |
| Amounts receivable within one year | 40/41 | €127,474 | €117,909 | -€9,566 | -7.5% |
| Trade receivables | 40 | €109,480 | €100,534 | -€8,945 | -8.2% |
| Other amounts receivable | 41 | €17,995 | €17,374 | -€620 | -3.4% |
| Cash at bank and in hand | 54/58 | €75,845 | €33,986 | -€41,859 | -55.2% |
| Deferred charges and accrued income | 490/1 | €21,439 | €15,603 | -€5,836 | -27.2% |
| Total equity and liabilities | 10/49 | €606,585 | €586,186 | -€20,399 | -3.4% |
| Equity | 10/15 | €324,687 | €303,268 | -€21,419 | -6.6% |
| Contributions | 10/11 | €9,352 | €9,352 | = | 0.0% |
| Reserves | 13 | €213,874 | €192,452 | -€21,421 | -10.0% |
| Distributable reserves | 133 | €213,874 | €192,452 | -€21,421 | -10.0% |
| Profit (loss) carried forward | 14 | €101,461 | €101,463 | +€3 | 0.0% |
| Amounts payable | 17/49 | €281,899 | €282,918 | +€1,020 | +0.4% |
| Amounts payable after more than one year | 17 | €6,001 | - | -€6,001 | |
| Financial debts | 170/4 | €6,001 | - | -€6,001 | |
| Amounts payable within one year | 42/48 | €275,897 | €282,918 | +€7,021 | +2.5% |
| Current portion of amounts payable after more than one year | 42 | €11,728 | €6,001 | -€5,727 | -48.8% |
| Trade debts | 44 | €23,090 | €18,675 | -€4,414 | -19.1% |
| Suppliers | 440/4 | €23,090 | €18,675 | -€4,414 | -19.1% |
| Advances received on contracts in progress | 46 | €13,868 | - | -€13,868 | |
| Taxes, remuneration and social security | 45 | €4,911 | €6,230 | +€1,319 | +26.9% |
| Taxes | 450/3 | €4,911 | €6,230 | +€1,319 | +26.9% |
| Other amounts payable | 47/48 | €222,301 | €252,012 | +€29,712 | +13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,012 | €40,388 | -€2,624 | -6.1% |
| Other operating charges | 640/8 | €1,293 | €998 | -€295 | -22.8% |
| Gross operating margin | 9900 | €67,920 | €98,944 | +€31,024 | +45.7% |
| Operating profit (loss) | 9901 | €23,615 | €57,558 | +€33,943 | +144% |
| Financial income | 75/76B | €4,272 | €6,922 | +€2,650 | +62.0% |
| Recurring financial income | 75 | €4,272 | €6,922 | +€2,650 | +62.0% |
| Financial charges | 65/66B | €17,711 | €15,341 | -€2,369 | -13.4% |
| Recurring financial charges | 65 | €17,711 | €15,341 | -€2,369 | -13.4% |
| Profit (loss) for the period before taxes | 9903 | €10,176 | €49,138 | +€38,962 | +383% |
| Income taxes | 67/77 | €1,637 | €15,146 | +€13,509 | +825% |
| Profit (loss) for the period | 9904 | €8,539 | €33,993 | +€25,453 | +298% |
| Profit (loss) for the period to be appropriated | 9905 | €8,539 | €33,993 | +€25,453 | +298% |
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 3 November 2026 via checked.be.