DavCo: 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.
DavCo
Largest movements
- Cash -€138,440
down €138,440 (-85.2%), from €162,508 to €24,068
mainly Contributions, distributions and other (-€110,000) and Other debts (-€109,237)
- Receivables within one year +€52,587
up €52,587 (+99.7%), from €52,733 to €105,320
of which Trade receivables: +€52,602
- Tangible fixed assets +€8,540
up €8,540 (+967.9%), from €882 to €9,423
of which Other tangible fixed assets: +€7,505
- Other debts -€109,237
down €109,237 (-54.4%), from €200,803 to €91,566
- Profit (loss) carried forward +€55,485
up €55,485 (+50.4%), from €110,038 to €165,523
- Tax, wage and social debts -€23,615
down €23,615 (-63.1%), from €37,399 to €13,783
- Gross operating margin +€74,475
up €74,475 (+51.3%), from €145,249 to €219,724
- Taxes +€18,417
up €18,417 (+49.2%), from €37,450 to €55,867
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 | €351,243 | €273,955 | -€77,288 | -22.0% |
| Fixed assets | 21/28 | €135,513 | €144,054 | +€8,540 | +6.3% |
| Tangible fixed assets | 22/27 | €882 | €9,423 | +€8,540 | +967.9% |
| Plant, machinery and equipment | 23 | - | €1,035 | +€1,035 | |
| Other tangible fixed assets | 26 | €882 | €8,388 | +€7,505 | +850.5% |
| Financial fixed assets | 28 | €134,631 | €134,631 | = | 0.0% |
| Current assets | 29/58 | €215,730 | €129,901 | -€85,829 | -39.8% |
| Amounts receivable within one year | 40/41 | €52,733 | €105,320 | +€52,587 | +99.7% |
| Trade receivables | 40 | €42,381 | €94,983 | +€52,602 | +124.1% |
| Other amounts receivable | 41 | €10,352 | €10,337 | -€15 | -0.1% |
| Cash at bank and in hand | 54/58 | €162,508 | €24,068 | -€138,440 | -85.2% |
| Deferred charges and accrued income | 490/1 | €489 | €514 | +€25 | +5.1% |
| Total equity and liabilities | 10/49 | €351,243 | €273,955 | -€77,288 | -22.0% |
| Equity | 10/15 | €113,038 | €168,523 | +€55,485 | +49.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €110,038 | €165,523 | +€55,485 | +50.4% |
| Amounts payable | 17/49 | €238,206 | €105,432 | -€132,774 | -55.7% |
| Amounts payable within one year | 42/48 | €238,206 | €105,432 | -€132,774 | -55.7% |
| Trade debts | 44 | €4 | €83 | +€79 | +1847.7% |
| Suppliers | 440/4 | €4 | €83 | +€79 | +1847.7% |
| Taxes, remuneration and social security | 45 | €37,399 | €13,783 | -€23,615 | -63.1% |
| Taxes | 450/3 | €37,399 | €13,783 | -€23,615 | -63.1% |
| Other amounts payable | 47/48 | €200,803 | €91,566 | -€109,237 | -54.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,252 | €1,852 | +€601 | +48.0% |
| Other operating charges | 640/8 | €723 | €757 | +€33 | +4.6% |
| Gross operating margin | 9900 | €145,249 | €219,724 | +€74,475 | +51.3% |
| Operating profit (loss) | 9901 | €143,274 | €217,115 | +€73,841 | +51.5% |
| Financial income | 75/76B | €4,285 | €4,301 | +€17 | +0.4% |
| Recurring financial income | 75 | €4,285 | €4,301 | +€17 | +0.4% |
| Financial charges | 65/66B | €71 | €64 | -€7 | -10.2% |
| Recurring financial charges | 65 | €71 | €64 | -€7 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | €147,488 | €221,352 | +€73,865 | +50.1% |
| Income taxes | 67/77 | €37,450 | €55,867 | +€18,417 | +49.2% |
| Profit (loss) for the period | 9904 | €110,038 | €165,485 | +€55,448 | +50.4% |
| Profit (loss) for the period to be appropriated | 9905 | €110,038 | €165,485 | +€55,448 | +50.4% |
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 29 September 2026 via checked.be.