DAVARI: 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.
DAVARI
Largest movements
- Intangible fixed assets +€96,658
new in 2025: €96,658
- Cash +€76,309
up €76,309 (+94.6%), from €80,679 to €156,989
mainly Debts after one year (+€71,446) and Depreciation (+€70,006)
- Tangible fixed assets -€66,663
down €66,663 (-6.7%), from €989,317 to €922,654
of which Land and buildings: -€50,976
- Stocks and contracts -€18,407
down €18,407 (-82.3%), from €22,369 to €3,962
- Receivables within one year -€14,347
down €14,347 (-33.5%), from €42,799 to €28,452
of which Trade receivables: -€17,116
- Debts after one year +€71,446
up €71,446 (+9.5%), from €748,577 to €820,023
- Other debts +€48,197
up €48,197 (+1,313%), from €3,671 to €51,868
- Provisions -€25,286
down €25,286 (-20.2%), from €125,286 to €100,000
- Reserves -€13,377
down €13,377 (-7.1%), from €188,426 to €175,048
- Provisions -€54,571
down €54,571, from €29,286 to -€25,286
- Gross operating margin -€49,528
down €49,528 (-23.7%), from €209,327 to €159,799
- Staff costs -€22,907
down €22,907 (-50.4%), from €45,427 to €22,519
- Financial charges -€7,814
down €7,814 (-19.3%), from €40,555 to €32,741
- Taxes +€6,498
up €6,498 (+113%), from €5,766 to €12,264
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 | €1,135,165 | €1,208,714 | +€73,549 | +6.5% |
| Fixed assets | 21/28 | €989,317 | €1,019,312 | +€29,994 | +3.0% |
| Intangible fixed assets | 21 | - | €96,658 | +€96,658 | |
| Tangible fixed assets | 22/27 | €989,317 | €922,654 | -€66,663 | -6.7% |
| Land and buildings | 22 | €933,354 | €882,377 | -€50,976 | -5.5% |
| Plant, machinery and equipment | 23 | €1,007 | €34 | -€973 | -96.7% |
| Furniture and vehicles | 24 | €79 | - | -€79 | |
| Other tangible fixed assets | 26 | €54,878 | €40,243 | -€14,635 | -26.7% |
| Current assets | 29/58 | €145,847 | €189,402 | +€43,555 | +29.9% |
| Stocks and contracts in progress | 3 | €22,369 | €3,962 | -€18,407 | -82.3% |
| Stocks | 30/36 | €22,369 | €3,962 | -€18,407 | -82.3% |
| Amounts receivable within one year | 40/41 | €42,799 | €28,452 | -€14,347 | -33.5% |
| Trade receivables | 40 | €42,786 | €25,670 | -€17,116 | -40.0% |
| Other amounts receivable | 41 | €13 | €2,782 | +€2,768 | +20,583% |
| Cash at bank and in hand | 54/58 | €80,679 | €156,989 | +€76,309 | +94.6% |
| Total equity and liabilities | 10/49 | €1,135,165 | €1,208,714 | +€73,549 | +6.5% |
| Equity | 10/15 | €191,926 | €178,548 | -€13,377 | -7.0% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €188,426 | €175,048 | -€13,377 | -7.1% |
| Distributable reserves | 133 | €188,426 | €175,048 | -€13,377 | -7.1% |
| Provisions and deferred taxes | 16 | €125,286 | €100,000 | -€25,286 | -20.2% |
| Provisions for liabilities and charges | 160/5 | €125,286 | €100,000 | -€25,286 | -20.2% |
| Major repairs and maintenance | 162 | €125,286 | - | -€125,286 | |
| Other liabilities and charges | 164/5 | - | €100,000 | +€100,000 | |
| Amounts payable | 17/49 | €817,954 | €930,166 | +€112,212 | +13.7% |
| Amounts payable after more than one year | 17 | €748,577 | €820,023 | +€71,446 | +9.5% |
| Financial debts | 170/4 | €748,577 | €820,023 | +€71,446 | +9.5% |
| Amounts payable within one year | 42/48 | €69,376 | €110,143 | +€40,766 | +58.8% |
| Current portion of amounts payable after more than one year | 42 | €25,821 | €26,887 | +€1,067 | +4.1% |
| Financial debts | 43 | €374 | - | -€374 | |
| Credit institutions | 430/8 | €374 | - | -€374 | |
| Trade debts | 44 | €12,204 | €9,887 | -€2,317 | -19.0% |
| Suppliers | 440/4 | €12,204 | €9,887 | -€2,317 | -19.0% |
| Taxes, remuneration and social security | 45 | €27,305 | €21,500 | -€5,805 | -21.3% |
| Taxes | 450/3 | €23,878 | €16,006 | -€7,871 | -33.0% |
| Remuneration and social security | 454/9 | €3,428 | €5,494 | +€2,066 | +60.3% |
| Other amounts payable | 47/48 | €3,671 | €51,868 | +€48,197 | +1,313% |
| Non-recurring operating income | 76A | €1,620 | - | -€1,620 | |
| Remuneration, social security and pensions | 62 | €45,427 | €22,519 | -€22,907 | -50.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,061 | €70,006 | +€2,945 | +4.4% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €29,286 | -€25,286 | -€54,571 | |
| Other operating charges | 640/8 | €2,065 | €2,528 | +€463 | +22.4% |
| Gross operating margin | 9900 | €209,327 | €159,799 | -€49,528 | -23.7% |
| Operating profit (loss) | 9901 | €65,489 | €90,032 | +€24,543 | +37.5% |
| Financial income | 75/76B | €864 | €420 | -€444 | -51.4% |
| Recurring financial income | 75 | €864 | €420 | -€444 | -51.4% |
| Financial charges | 65/66B | €40,555 | €32,741 | -€7,814 | -19.3% |
| Recurring financial charges | 65 | €40,555 | €32,741 | -€7,814 | -19.3% |
| Profit (loss) for the period before taxes | 9903 | €25,798 | €57,710 | +€31,913 | +124% |
| Income taxes | 67/77 | €5,766 | €12,264 | +€6,498 | +113% |
| Profit (loss) for the period | 9904 | €20,032 | €45,446 | +€25,414 | +127% |
| Profit (loss) for the period to be appropriated | 9905 | €20,032 | €45,446 | +€25,414 | +127% |
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 19 October 2026 via checked.be.