DEVCO Management: 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.
DEVCO Management
Largest movements
- Cash +€14,609
up €14,609 (+60.2%), from €24,266 to €38,875
mainly Net result for the year (+€35,171) and Other debts (+€10,591)
- Receivables within one year -€3,750
down €3,750 (-10.3%), from €36,235 to €32,485
of which Other amounts receivable: -€6,654
- Tangible fixed assets -€3,346
down €3,346 (-37.7%), from €8,883 to €5,537
- Deferred charges and accrued income -€981
down €981 (-16.4%), from €5,977 to €4,996
- Other debts +€10,591
up €10,591 (+43.1%), from €24,580 to €35,171
- Tax, wage and social debts +€5,644
up €5,644 (+38.3%), from €14,723 to €20,367
of which Remuneration and social security: +€4,130
- Trade debts -€3,862
down €3,862 (-66.5%), from €5,808 to €1,947
- Debts after one year -€2,961
down €2,961 (-100%), from €2,961 to €0
- Current portion of long-term debt -€2,810
down €2,810 (-48.7%), from €5,771 to €2,961
- Gross operating margin +€7,579
up €7,579 (+15.6%), from €48,454 to €56,032
- Depreciation -€4,674
down €4,674 (-36.3%), from €12,889 to €8,215
- Taxes +€2,260
up €2,260 (+23.8%), from €9,476 to €11,735
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €75,362 | €81,893 | +€6,532 | +8.7% |
| Fixed assets | 21/28 | €8,883 | €5,537 | -€3,346 | -37.7% |
| Tangible fixed assets | 22/27 | €8,883 | €5,537 | -€3,346 | -37.7% |
| Furniture and vehicles | 24 | €8,883 | €5,537 | -€3,346 | -37.7% |
| Current assets | 29/58 | €66,478 | €76,356 | +€9,878 | +14.9% |
| Amounts receivable within one year | 40/41 | €36,235 | €32,485 | -€3,750 | -10.3% |
| Trade receivables | 40 | €18,158 | €21,061 | +€2,904 | +16.0% |
| Other amounts receivable | 41 | €18,077 | €11,423 | -€6,654 | -36.8% |
| Cash at bank and in hand | 54/58 | €24,266 | €38,875 | +€14,609 | +60.2% |
| Deferred charges and accrued income | 490/1 | €5,977 | €4,996 | -€981 | -16.4% |
| Total equity and liabilities | 10/49 | €75,362 | €81,893 | +€6,532 | +8.7% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €56,762 | €63,293 | +€6,532 | +11.5% |
| Amounts payable after more than one year | 17 | €2,961 | €0 | -€2,961 | -100% |
| Financial debts | 170/4 | €2,961 | €0 | -€2,961 | -100% |
| Amounts payable within one year | 42/48 | €53,801 | €63,293 | +€9,493 | +17.6% |
| Current portion of amounts payable after more than one year | 42 | €5,771 | €2,961 | -€2,810 | -48.7% |
| Financial debts | 43 | €2,918 | €2,848 | -€70 | -2.4% |
| Credit institutions | 430/8 | €2,918 | €2,848 | -€70 | -2.4% |
| Trade debts | 44 | €5,808 | €1,947 | -€3,862 | -66.5% |
| Suppliers | 440/4 | €5,808 | €1,947 | -€3,862 | -66.5% |
| Taxes, remuneration and social security | 45 | €14,723 | €20,367 | +€5,644 | +38.3% |
| Taxes | 450/3 | €11,379 | €12,892 | +€1,513 | +13.3% |
| Remuneration and social security | 454/9 | €3,344 | €7,474 | +€4,130 | +124% |
| Other amounts payable | 47/48 | €24,580 | €35,171 | +€10,591 | +43.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,889 | €8,215 | -€4,674 | -36.3% |
| Other operating charges | 640/8 | €1,259 | €1,232 | -€27 | -2.1% |
| Gross operating margin | 9900 | €48,454 | €56,032 | +€7,579 | +15.6% |
| Operating profit (loss) | 9901 | €34,305 | €46,585 | +€12,280 | +35.8% |
| Financial income | 75/76B | €554 | €843 | +€289 | +52.3% |
| Recurring financial income | 75 | €554 | €843 | +€289 | +52.3% |
| Financial charges | 65/66B | €803 | €521 | -€282 | -35.1% |
| Recurring financial charges | 65 | €803 | €521 | -€282 | -35.1% |
| Profit (loss) for the period before taxes | 9903 | €34,056 | €46,907 | +€12,851 | +37.7% |
| Income taxes | 67/77 | €9,476 | €11,735 | +€2,260 | +23.8% |
| Profit (loss) for the period | 9904 | €24,580 | €35,171 | +€10,591 | +43.1% |
| Profit (loss) for the period to be appropriated | 9905 | €24,580 | €35,171 | +€10,591 | +43.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.