DAVELI: 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.
DAVELI
Largest movements
- Cash +€30,318
up €30,318 (+47.2%), from €64,202 to €94,520
mainly Net result for the year (+€32,180) and Depreciation (+€26,120)
- Tangible fixed assets -€26,120
down €26,120 (-6.5%), from €404,840 to €378,720
- Receivables within one year -€8,078
no longer reported in 2025 (was €8,078)
of which Trade receivables: -€5,191
- Debts after one year -€34,388
down €34,388 (-21.0%), from €163,650 to €129,261
of which Financial debts: -€34,388
- Reserves +€32,180
up €32,180 (+15.9%), from €202,046 to €234,226
of which Distributable reserves: +€39,040
- Trade debts -€5,191
no longer reported in 2025 (was €5,191)
- Gross operating margin +€4,460
up €4,460 (+5.2%), from €85,496 to €89,957
- Taxes +€1,888
up €1,888 (+14.0%), from €13,479 to €15,367
- Financial charges -€1,577
down €1,577 (-15.3%), from €10,276 to €8,698
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 | €477,121 | €473,240 | -€3,881 | -0.8% |
| Fixed assets | 21/28 | €404,840 | €378,720 | -€26,120 | -6.5% |
| Tangible fixed assets | 22/27 | €404,840 | €378,720 | -€26,120 | -6.5% |
| Land and buildings | 22 | €404,840 | €378,720 | -€26,120 | -6.5% |
| Current assets | 29/58 | €72,281 | €94,520 | +€22,239 | +30.8% |
| Amounts receivable within one year | 40/41 | €8,078 | - | -€8,078 | |
| Trade receivables | 40 | €5,191 | - | -€5,191 | |
| Other amounts receivable | 41 | €2,888 | - | -€2,888 | |
| Cash at bank and in hand | 54/58 | €64,202 | €94,520 | +€30,318 | +47.2% |
| Total equity and liabilities | 10/49 | €477,121 | €473,240 | -€3,881 | -0.8% |
| Equity | 10/15 | €271,147 | €303,327 | +€32,180 | +11.9% |
| Contributions | 10/11 | €68,600 | €68,600 | = | 0.0% |
| Reserves | 13 | €202,046 | €234,226 | +€32,180 | +15.9% |
| Non-distributable reserves | 130/1 | €6,860 | - | -€6,860 | |
| Reserves not available under the articles | 1311 | €6,860 | - | -€6,860 | |
| Distributable reserves | 133 | €195,186 | €234,226 | +€39,040 | +20.0% |
| Profit (loss) carried forward | 14 | €501 | €501 | +€0 | 0.0% |
| Amounts payable | 17/49 | €205,974 | €169,913 | -€36,061 | -17.5% |
| Amounts payable after more than one year | 17 | €163,650 | €129,261 | -€34,388 | -21.0% |
| Financial debts | 170/4 | €158,400 | €124,011 | -€34,388 | -21.7% |
| Other amounts payable | 178/9 | €5,250 | €5,250 | = | 0.0% |
| Amounts payable within one year | 42/48 | €42,324 | €40,651 | -€1,673 | -4.0% |
| Current portion of amounts payable after more than one year | 42 | €32,759 | €34,388 | +€1,630 | +5.0% |
| Trade debts | 44 | €5,191 | - | -€5,191 | |
| Suppliers | 440/4 | €5,191 | - | -€5,191 | |
| Taxes, remuneration and social security | 45 | €1,479 | €3,367 | +€1,888 | +127.7% |
| Taxes | 450/3 | €1,479 | €3,367 | +€1,888 | +127.7% |
| Other amounts payable | 47/48 | €2,896 | €2,896 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,120 | €26,120 | = | 0.0% |
| Other operating charges | 640/8 | €7,362 | €7,591 | +€229 | +3.1% |
| Gross operating margin | 9900 | €85,496 | €89,957 | +€4,460 | +5.2% |
| Operating profit (loss) | 9901 | €52,015 | €56,246 | +€4,231 | +8.1% |
| Financial charges | 65/66B | €10,276 | €8,698 | -€1,577 | -15.3% |
| Recurring financial charges | 65 | €10,276 | €8,698 | -€1,577 | -15.3% |
| Profit (loss) for the period before taxes | 9903 | €41,739 | €47,547 | +€5,808 | +13.9% |
| Income taxes | 67/77 | €13,479 | €15,367 | +€1,888 | +14.0% |
| Profit (loss) for the period | 9904 | €28,260 | €32,180 | +€3,920 | +13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €28,260 | €32,180 | +€3,920 | +13.9% |
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 8 October 2026 via checked.be.