DAVIS
InactiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 23-06-2026 at the NBB all 37 filings
Turnover
€129,579=
2018 · €129,579
EBIT margin
55.0%▼ 4.4pp
2018 · 59.4%
Net result
€47,439▲ 0.1%
2024 · €47,409
Working capital
€2.2m▼ 6.0%
2024 · €2.3m
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€129,579
2025
20182025
Operating result
€71,294
▲ 1.3%
2025
20182025
Net result
€47,439
▲ 0.1%
2025
20182025
EBIT margin
55.0%
2025
20182025
Equity
€559,273
▲ 9.3%
2025
20182025
Total assets
€3.6m
▲ 4.4%
2025
20182025
Debt
€3.1m
▲ 3.6%
2025
20182025
Working capital
€2.2m
▼ 6.0%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€0.1m-€0.1m
Operating result€0.08m-€0.1m▲ 42.3%€0.1m▲ 1.2%€0.1m▼ 2.1%€0.1m▼ 4.3%€0.1m▼ 7.5%€0.07m▼ 26.7%€0.07m▲ 1.3%
Net result€0.05m-€0.08m▲ 47.7%€0.09m▲ 22.5%€0.08m▼ 11.0%€0.08m▼ 2.5%€0.07m▼ 9.3%€0.05m▼ 34.9%€0.05m▲ 0.1%
EBIT margin59.4%-55.0%
Equity€0.4m-€0.4m▲ 21.2%€0.5m▲ 21.5%€0.6m▲ 15.7%€0.4m▼ 35.4%€0.5m▲ 18.6%€0.5m▲ 10.2%€0.6m▲ 9.3%
Total assets€0.5m-€0.6m▲ 12.0%€0.6m▼ 1.1%€0.6m▲ 8.3%€0.7m▲ 16.7%€0.6m▼ 17.5%€3.5m▲ 490%€3.6m▲ 4.4%
Debt€0.2m-€0.1m▼ 9.6%€0.04m▼ 71.6%€0.003m▼ 91.2%€0.3m▲ 93×€0.1m▼ 61.6%€3.0m▲ 24×€3.1m▲ 3.6%
Working capital€0.03m-€0.1m▲ 304%€0.2m▲ 82.9%€0.2m▼ 18.8%-€0.01m-€0.1m▼ 652%€2.3m€2.2m▼ 6.0%
The operating result for 2025 is 1% higher than in 2024. It is a recovery after the fall in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €3.6m
Fixed assets
€818,126 ▲ 6.3%
Current assets
€2.8m ▲ 3.9%
Equity and liabilities €3.6m
Equity
€559,273 ▲ 9.3%
Debt
€3.1m ▲ 3.6%
Debt's share of the balance-sheet total falls from 85.2% to 84.6%. Equity and debt are higher.
Key figures and ratios
EBITDA
€123,918▲
2024 · €110,918
Cash flow
€100,063▲
2024 · €87,977
Current ratio
4.30▼
2024 · 6.61
Debt to equity
5.47▼
2024 · 5.77
ROE
8.5%▼
2024 · 9.3%
ROA
1.3%▼
2024 · 1.4%
Interest coverage
1.20▼
2024 · 13.65
Debt ≤ 1 year
€651,320▲
2024 · €407,754
Debt > 1 year
€2.4m▼
2024 · €2.5m
Income taxes
€14,250▼
2024 · €17,000
Customer credit
5 days
Supplier credit
521 days▼
2024 · 3669 days
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €140,606 | €5,000 | €188,592 | €244,953 | €101,444 |
| Depreciation and write-downs of the year | €15,620 | €20,781 | €28,460 | €40,567 | €52,624 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Turnover70 | €129,579 | - | - | - | - | - | - | €129,579 | - |
| Non-recurring operating income76A | - | - | - | - | - | €0 | €0 | €0 | - |
| Goods, raw materials, services and sundry goods60/61 | - | - | - | €5,101 | €4,526 | €4,548 | €18,087 | €5,074 | ▼ 71.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €48,778 | €18,899 | €13,804 | €15,620 | €20,781 | €28,460 | €40,567 | €52,624 | ▲ 29.7% |
| Other operating charges640/8 | - | - | - | €8,400 | €8,720 | €9,542 | €9,908 | €9,931 | ▲ 0.2% |
| Gross operating margin9900 | €133,410 | €136,263 | €132,978 | €132,468 | €133,238 | €134,001 | €120,826 | €133,849 | ▲ 10.8% |
| Operating profit (loss)9901 | €76,962 | €109,506 | €110,829 | €108,448 | €103,737 | €96,000 | €70,350 | €71,294 | ▲ 1.3% |
| Financial income75/76B | - | - | - | €2,643 | €3,705 | €3,109 | €2,184 | €93,800 | ▲ 43× |
| Recurring financial income75 | €1,344 | €1,988 | €2,871 | €2,643 | €3,705 | €3,109 | €2,184 | €93,800 | ▲ 43× |
| Financial charges65/66B | - | - | - | €263 | €369 | €1,942 | €8,125 | €103,405 | ▲ 13× |
| Recurring financial charges65 | €3,747 | €1,040 | €516 | €263 | €369 | €1,942 | €8,125 | €103,405 | ▲ 13× |
| Profit (loss) for the period before taxes9903 | €74,558 | €110,454 | €113,184 | €110,828 | €107,072 | €97,166 | €64,409 | €61,688 | ▼ 4.2% |
| Income taxes67/77 | €23,392 | €34,878 | €20,625 | €28,452 | €26,768 | €24,292 | €17,000 | €14,250 | ▼ 16.2% |
| Profit (loss) for the period9904 | €51,167 | €75,576 | €92,559 | €82,376 | €80,304 | €72,875 | €47,409 | €47,439 | ▲ 0.1% |
| Profit (loss) for the period to be appropriated9905 | €51,167 | €75,576 | €92,559 | €82,376 | €80,304 | €72,875 | €47,409 | €47,439 | ▲ 0.1% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.5m | €0.6m | €0.6m | €0.6m | €0.7m | €0.6m | €3.5m | €3.6m | ▲ 4.4% |
| Fixed assets21/28 | €0.3m | €0.3m | €0.3m | €0.4m | €0.4m | €0.6m | €0.8m | €0.8m | ▲ 6.3% |
| Tangible fixed assets22/27 | €0.3m | €0.3m | €0.3m | €0.4m | €0.4m | €0.6m | €0.8m | €0.8m | ▲ 6.3% |
| Land and buildings22 | - | - | - | €0.4m | €0.4m | €0.6m | €0.8m | €0.8m | ▲ 6.3% |
| Current assets29/58 | €0.2m | €0.3m | €0.3m | €0.2m | €0.3m | €0.02m | €2.7m | €2.8m | ▲ 3.9% |
| Amounts receivable after more than one year29 | - | - | - | - | - | - | €2.7m | €2.8m | ▲ 3.5% |
| Other amounts receivable291 | - | - | - | - | - | - | €2.7m | €2.8m | ▲ 3.5% |
| Amounts receivable within one year40/41 | €0.1m | €0.2m | €0.2m | €0.2m | €0.3m | €0.001m | €0.01m | €0.002m | ▼ 83.7% |
| Trade receivables40 | - | - | - | - | - | €34 | €0 | - | - |
| Other amounts receivable41 | - | - | - | €0.2m | €0.3m | €0.001m | €0.01m | €0.002m | ▼ 83.7% |
| Cash at bank and in hand54/58 | €0.05m | €0.02m | €0.08m | €0.03m | €0.007m | €0.02m | €0.002m | €0.03m | ▲ 14× |
| Deferred charges and accrued income490/1 | - | - | - | €0.003m | €0.005m | €0.005m | €0.004m | €0 | ▼ 100% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.5m | €0.6m | €0.6m | €0.6m | €0.7m | €0.6m | €3.5m | €3.6m | ▲ 4.4% |
| Equity10/15 | €0.4m | €0.4m | €0.5m | €0.6m | €0.4m | €0.5m | €0.5m | €0.6m | ▲ 9.3% |
| Contributions10/11 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Capital10 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Issued capital100 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Reserves13 | €0.05m | €0.05m | €0.05m | €0.5m | €0.2m | €0.3m | €0.4m | €0.4m | ▲ 13.3% |
| Non-distributable reserves130/1 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Legal reserve130 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Distributable reserves133 | - | - | - | €0.4m | €0.2m | €0.3m | €0.3m | €0.4m | ▲ 13.9% |
| Profit (loss) carried forward14 | €0.1m | €0.2m | €0.3m | - | - | €0 | - | - | - |
| Amounts payable17/49 | €0.2m | €0.1m | €0.04m | €0.003m | €0.3m | €0.1m | €3.0m | €3.1m | ▲ 3.6% |
| Amounts payable after more than one year17 | - | - | - | - | - | - | €2.5m | €2.4m | ▼ 5.7% |
| Financial debts170/4 | - | - | - | - | - | - | €2.5m | €2.4m | ▼ 5.7% |
| Amounts payable within one year42/48 | €0.1m | €0.1m | €0.04m | €0.003m | €0.3m | €0.1m | €0.4m | €0.7m | ▲ 59.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | €0.1m | €0.1m | ▲ 4.1% |
| Financial debts43 | - | - | - | - | €0.01m | €0.008m | €0.009m | €0 | ▼ 100% |
| Credit institutions430/8 | - | - | - | - | €0.01m | €0.008m | €0.009m | €0 | ▼ 100% |
| Trade debts44 | €65 | - | €0.003m | - | €0.005m | €0.01m | €0.2m | €0.007m | ▼ 96.0% |
| Suppliers440/4 | - | - | - | - | €0.005m | €0.01m | €0.2m | €0.007m | ▼ 96.0% |
| Taxes, remuneration and social security45 | - | - | - | €0.003m | €0.005m | €0 | - | €0.02m | - |
| Taxes450/3 | - | - | - | €0.003m | €0.005m | €0 | - | €0.02m | - |
| Other amounts payable47/48 | - | - | - | - | €0.3m | €0.1m | €0.08m | €0.5m | ▲ 506% |
| Accrued charges and deferred income492/3 | - | - | - | - | - | €0.001m | €0.003m | €0.01m | ▲ 232% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €51,167 | €75,576 | €92,559 | €82,376 | €80,304 | €72,875 | €47,409 | €47,439 | ▲ 0.1% |
| + Depreciation and write-downs630 | €48,778 | €18,899 | €13,804 | €15,620 | €20,781 | €28,460 | €40,567 | €52,624 | ▲ 29.7% |
| Operating cash flow (approximation) | €99,945 | €94,475 | €106,363 | €97,996 | €101,085 | €101,334 | €87,977 | €100,063 | ▲ 13.7% |
| Investment in fixed assets (approximation) | - | €0 | €0 | -€140,606 | -€5,000 | -€188,592 | -€244,953 | -€101,444 | ▲ 58.6% |
| Change in cash | - | -€29,455 | €56,891 | -€53,167 | -€19,333 | €9,899 | -€14,784 | €24,384 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 37 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 23-06-2026 | 2026-00194501 | |
| 31-12-2024 | micro format | 23-06-2025 | 2025-00171949 | |
| 31-12-2023 | micro format | 16-07-2024 | 2024-00254785 | |
| 31-12-2022 | micro format | 28-06-2023 | 2023-00185370 | |
| 31-12-2021 | abbreviated format | 01-07-2022 | 2022-20137630 | |
| 31-12-2020 | abbreviated format | 07-07-2021 | 2021-32100204 | |
| 31-12-2019 | abbreviated format | 02-07-2020 | 2020-26300325 | |
| 31-12-2018 | abbreviated format | 17-07-2019 | 2019-34400033 | |
| 31-12-2017 | abbreviated format | 12-07-2018 | 2018-32000025 | |
| 31-12-2016 | micro format | 04-07-2017 | 2017-28100255 |