DAV FINANCE: 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.
DAV FINANCE
Largest movements
- Cash -€216,546
down €216,546 (-94.0%), from €230,449 to €13,903
mainly Other debts (-€120,862) and Trade debts (-€108,285)
- Receivables within one year +€6,828
up €6,828 (+6.1%), from €111,404 to €118,231
of which Trade receivables: +€7,358
- Tangible fixed assets -€4,892
down €4,892 (-11.1%), from €44,191 to €39,299
of which Furniture and vehicles: -€6,894
- Other debts -€120,862
no longer reported in 2025 (was €120,862)
- Trade debts -€108,285
down €108,285 (-76.3%), from €141,985 to €33,700
- Tax, wage and social debts +€20,391
up €20,391 (+55.7%), from €36,597 to €56,988
of which Remuneration and social security: +€19,658
- Debts after one year -€7,678
down €7,678 (-25.6%), from €29,951 to €22,273
- Gross operating margin +€174,758
up €174,758 (+47.2%), from €370,382 to €545,140
- Staff costs +€167,419
up €167,419 (+48.4%), from €346,260 to €513,679
- Depreciation +€5,936
up €5,936 (+158%), from €3,747 to €9,684
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 | €386,044 | €171,883 | -€214,161 | -55.5% |
| Fixed assets | 21/28 | €44,191 | €39,749 | -€4,442 | -10.1% |
| Tangible fixed assets | 22/27 | €44,191 | €39,299 | -€4,892 | -11.1% |
| Plant, machinery and equipment | 23 | - | €2,003 | +€2,003 | |
| Furniture and vehicles | 24 | €44,191 | €37,296 | -€6,894 | -15.6% |
| Financial fixed assets | 28 | - | €450 | +€450 | |
| Current assets | 29/58 | €341,853 | €132,134 | -€209,719 | -61.3% |
| Amounts receivable within one year | 40/41 | €111,404 | €118,231 | +€6,828 | +6.1% |
| Trade receivables | 40 | €106,994 | €114,352 | +€7,358 | +6.9% |
| Other amounts receivable | 41 | €4,409 | €3,879 | -€530 | -12.0% |
| Cash at bank and in hand | 54/58 | €230,449 | €13,903 | -€216,546 | -94.0% |
| Total equity and liabilities | 10/49 | €386,044 | €171,883 | -€214,161 | -55.5% |
| Equity | 10/15 | €49,186 | €51,245 | +€2,059 | +4.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €30,586 | €32,645 | +€2,059 | +6.7% |
| Distributable reserves | 133 | €30,586 | €32,645 | +€2,059 | +6.7% |
| Amounts payable | 17/49 | €336,858 | €120,638 | -€216,220 | -64.2% |
| Amounts payable after more than one year | 17 | €29,951 | €22,273 | -€7,678 | -25.6% |
| Financial debts | 170/4 | €29,951 | €22,273 | -€7,678 | -25.6% |
| Amounts payable within one year | 42/48 | €306,907 | €98,365 | -€208,542 | -67.9% |
| Current portion of amounts payable after more than one year | 42 | €7,463 | €7,678 | +€215 | +2.9% |
| Trade debts | 44 | €141,985 | €33,700 | -€108,285 | -76.3% |
| Suppliers | 440/4 | €141,985 | €33,700 | -€108,285 | -76.3% |
| Taxes, remuneration and social security | 45 | €36,597 | €56,988 | +€20,391 | +55.7% |
| Taxes | 450/3 | - | €733 | +€733 | |
| Remuneration and social security | 454/9 | €36,597 | €56,255 | +€19,658 | +53.7% |
| Other amounts payable | 47/48 | €120,862 | - | -€120,862 | |
| Remuneration, social security and pensions | 62 | €346,260 | €513,679 | +€167,419 | +48.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,747 | €9,684 | +€5,936 | +158% |
| Other operating charges | 640/8 | €1,426 | €785 | -€641 | -44.9% |
| Gross operating margin | 9900 | €370,382 | €545,140 | +€174,758 | +47.2% |
| Operating profit (loss) | 9901 | €18,948 | €20,993 | +€2,044 | +10.8% |
| Financial income | 75/76B | €579 | €990 | +€410 | +70.8% |
| Recurring financial income | 75 | €579 | €990 | +€410 | +70.8% |
| Financial charges | 65/66B | €3,494 | €7,161 | +€3,667 | +105% |
| Recurring financial charges | 65 | €3,494 | €7,161 | +€3,667 | +105% |
| Profit (loss) for the period before taxes | 9903 | €16,034 | €14,822 | -€1,213 | -7.6% |
| Income taxes | 67/77 | €11,295 | €12,762 | +€1,467 | +13.0% |
| Profit (loss) for the period | 9904 | €4,740 | €2,059 | -€2,680 | -56.6% |
| Profit (loss) for the period to be appropriated | 9905 | €4,740 | €2,059 | -€2,680 | -56.6% |
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 26 October 2026 via checked.be.