DAVARO: what changed
Two fiscal 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.
DAVARO
Largest movements
- Cash +€54,268
up €54,268 (+103.3%), from €52,534 to €106,803
mainly Net result for the year (+€60,060) and Trade debts (+€2,694)
- Receivables within one year +€8,672
up €8,672 (+55.2%), from €15,700 to €24,372
of which Other amounts receivable: +€4,404
- Profit (loss) carried forward +€60,060
up €60,060 (+108.9%), from €55,161 to €115,221
- Trade debts +€2,694
up €2,694 (+83.2%), from €3,239 to €5,933
- Gross operating margin +€27,191
up €27,191 (+54.2%), from €50,165 to €77,356
- Taxes +€4,402
up €4,402 (+38.7%), from €11,363 to €15,765
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.
Cash bridge derived
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 | €71,736 | €133,812 | +€62,077 | +86.5% |
| Fixed assets | 21/28 | €2,141 | €2,175 | +€34 | +1.6% |
| Tangible fixed assets | 22/27 | €2,141 | €2,175 | +€34 | +1.6% |
| Furniture and vehicles | 24 | €2,141 | €2,175 | +€34 | +1.6% |
| Current assets | 29/58 | €69,595 | €131,637 | +€62,042 | +89.1% |
| Amounts receivable within one year | 40/41 | €15,700 | €24,372 | +€8,672 | +55.2% |
| Trade receivables | 40 | €15,700 | €19,968 | +€4,268 | +27.2% |
| Other amounts receivable | 41 | - | €4,404 | +€4,404 | |
| Cash at bank and in hand | 54/58 | €52,534 | €106,803 | +€54,268 | +103.3% |
| Deferred charges and accrued income | 490/1 | €1,361 | €463 | -€898 | -66.0% |
| Total equity and liabilities | 10/49 | €71,736 | €133,812 | +€62,077 | +86.5% |
| Equity | 10/15 | €55,661 | €115,721 | +€60,060 | +107.9% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,161 | €115,221 | +€60,060 | +108.9% |
| Amounts payable | 17/49 | €16,075 | €18,092 | +€2,017 | +12.5% |
| Amounts payable within one year | 42/48 | €16,075 | €18,092 | +€2,017 | +12.5% |
| Trade debts | 44 | €3,239 | €5,933 | +€2,694 | +83.2% |
| Suppliers | 440/4 | €3,239 | €5,933 | +€2,694 | +83.2% |
| Taxes, remuneration and social security | 45 | €12,836 | €12,159 | -€677 | -5.3% |
| Taxes | 450/3 | €12,836 | €12,159 | -€677 | -5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €728 | €717 | -€11 | -1.6% |
| Other operating charges | 640/8 | €63 | - | -€63 | |
| Non-recurring operating charges | 66A | - | €622 | +€622 | |
| Gross operating margin | 9900 | €50,165 | €77,356 | +€27,191 | +54.2% |
| Operating profit (loss) | 9901 | €49,373 | €76,017 | +€26,644 | +54.0% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €161 | €192 | +€31 | +19.2% |
| Recurring financial charges | 65 | €161 | €192 | +€31 | +19.2% |
| Profit (loss) for the period before taxes | 9903 | €49,212 | €75,825 | +€26,613 | +54.1% |
| Income taxes | 67/77 | €11,363 | €15,765 | +€4,402 | +38.7% |
| Profit (loss) for the period | 9904 | €37,850 | €60,060 | +€22,210 | +58.7% |
| Profit (loss) for the period to be appropriated | 9905 | €37,850 | €60,060 | +€22,210 | +58.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.