DACOVAN: 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.
DACOVAN
Largest movements
- Tangible fixed assets +€270,624
up €270,624 (+65.4%), from €414,028 to €684,652
of which Land and buildings: +€151,177
- Cash -€201,184
down €201,184 (-91.2%), from €220,489 to €19,305
mainly Investment in fixed assets (net) (-€334,424) and Receivables within one year (-€35,822)
- Receivables within one year +€35,822
up €35,822 (+1,184%), from €3,025 to €38,847
of which Other amounts receivable: +€20,863
- Reserves +€92,543
up €92,543 (+16.8%), from €550,431 to €642,974
of which Distributable reserves: +€92,543
- Other debts +€11,128
up €11,128 (+78.4%), from €14,194 to €25,322
- Gross operating margin -€79,144
down €79,144 (-29.0%), from €273,211 to €194,067
- Taxes -€44,932
down €44,932 (-56.8%), from €79,069 to €34,137
- Depreciation +€42,859
up €42,859 (+205%), from €20,941 to €63,800
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 | €640,519 | €744,518 | +€103,999 | +16.2% |
| Fixed assets | 21/28 | €414,028 | €684,652 | +€270,624 | +65.4% |
| Tangible fixed assets | 22/27 | €414,028 | €684,652 | +€270,624 | +65.4% |
| Land and buildings | 22 | €349,488 | €500,665 | +€151,177 | +43.3% |
| Plant, machinery and equipment | 23 | €27,911 | €48,112 | +€20,201 | +72.4% |
| Furniture and vehicles | 24 | €6,569 | €113,329 | +€106,761 | +1,625% |
| Other tangible fixed assets | 26 | €30,060 | €22,546 | -€7,514 | -25.0% |
| Current assets | 29/58 | €226,491 | €59,865 | -€166,626 | -73.6% |
| Amounts receivable within one year | 40/41 | €3,025 | €38,847 | +€35,822 | +1,184% |
| Trade receivables | 40 | €3,025 | €17,984 | +€14,959 | +495% |
| Other amounts receivable | 41 | €0 | €20,863 | +€20,863 | |
| Cash at bank and in hand | 54/58 | €220,489 | €19,305 | -€201,184 | -91.2% |
| Deferred charges and accrued income | 490/1 | €2,977 | €1,713 | -€1,264 | -42.4% |
| Total equity and liabilities | 10/49 | €640,519 | €744,518 | +€103,999 | +16.2% |
| Equity | 10/15 | €569,031 | €661,574 | +€92,543 | +16.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €550,431 | €642,974 | +€92,543 | +16.8% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €550,431 | €642,974 | +€92,543 | +16.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €71,488 | €82,944 | +€11,456 | +16.0% |
| Amounts payable within one year | 42/48 | €71,488 | €82,944 | +€11,456 | +16.0% |
| Trade debts | 44 | €23,805 | €25,426 | +€1,621 | +6.8% |
| Suppliers | 440/4 | €23,805 | €25,426 | +€1,621 | +6.8% |
| Taxes, remuneration and social security | 45 | €33,489 | €32,196 | -€1,293 | -3.9% |
| Taxes | 450/3 | €33,489 | €32,196 | -€1,293 | -3.9% |
| Other amounts payable | 47/48 | €14,194 | €25,322 | +€11,128 | +78.4% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,941 | €63,800 | +€42,859 | +205% |
| Other operating charges | 640/8 | €1,542 | €1,774 | +€232 | +15.0% |
| Gross operating margin | 9900 | €273,211 | €194,067 | -€79,144 | -29.0% |
| Operating profit (loss) | 9901 | €250,728 | €128,493 | -€122,234 | -48.8% |
| Financial income | 75/76B | €1 | €209 | +€208 | +26,034% |
| Recurring financial income | 75 | €1 | €209 | +€208 | +26,034% |
| Financial charges | 65/66B | €3,742 | €2,022 | -€1,720 | -46.0% |
| Recurring financial charges | 65 | €3,742 | €2,022 | -€1,720 | -46.0% |
| Profit (loss) for the period before taxes | 9903 | €246,986 | €126,680 | -€120,306 | -48.7% |
| Income taxes | 67/77 | €79,069 | €34,137 | -€44,932 | -56.8% |
| Profit (loss) for the period | 9904 | €167,917 | €92,543 | -€75,374 | -44.9% |
| Profit (loss) for the period to be appropriated | 9905 | €167,917 | €92,543 | -€75,374 | -44.9% |
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 15 October 2026 via checked.be.