The main focus of this article is to develop a better understanding of the developmental trajectories of literacy and phonological skills within Dutch-speaking children. Children at high and low risk for dyslexia were followed and compared at four different moments: kindergarten and first, third and sixth grades. Three groups were then compared: (1) dyslexic readers; (2) normal readers at high risk for dyslexia; and (3) normal readers at low risk for dyslexia. Children diagnosed with dyslexia scored lower than high-risk normal readers on phonological awareness (PA), rapid automatized naming (RAN), verbal short-term memory and literacy skills. Normal readers at high risk scored between both groups, confirming that dyslexia is to be considered as a continuum rather than an all-or-none condition. Growth analyses showed that the three groups evolved similarly on all measures except for phoneme deletion and literacy measures. Finally, solely PA and RAN explained a significant amount of variance in the evolution of reading skills.