DAVENNE: 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.
DAVENNE
Largest movements
- Tangible fixed assets +€101,716
up €101,716 (+908%), from €11,201 to €112,918
of which Furniture and vehicles: +€54,148
- Cash -€93,182
down €93,182 (-55.0%), from €169,544 to €76,363
mainly Contributions, distributions and other (-€133,656) and Investment in fixed assets (net) (-€109,456)
- Receivables within one year +€12,783
up €12,783 (+44.7%), from €28,609 to €41,392
of which Trade receivables: +€10,356
- Reserves -€104,656
down €104,656 (-66.5%), from €157,391 to €52,735
of which Non-distributable reserves: -€123,656
- Other debts +€93,656
up €93,656 (+234%), from €40,000 to €133,656
- Debts after one year +€39,492
new in 2025: €39,492
- Current portion of long-term debt +€16,783
new in 2025: €16,783
- Advances received -€9,434
no longer reported in 2025 (was €9,434)
- Gross operating margin -€8,888
down €8,888 (-5.0%), from €178,497 to €169,608
- Staff costs -€6,332
down €6,332 (-4.6%), from €136,951 to €130,619
- Taxes -€5,480
down €5,480 (-52.9%), from €10,358 to €4,879
- Depreciation +€3,504
up €3,504 (+82.7%), from €4,236 to €7,740
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 | €341,294 | €365,730 | +€24,436 | +7.2% |
| Fixed assets | 21/28 | €11,201 | €112,918 | +€101,716 | +908% |
| Tangible fixed assets | 22/27 | €11,201 | €112,918 | +€101,716 | +908% |
| Plant, machinery and equipment | 23 | €6,970 | €54,696 | +€47,726 | +685% |
| Furniture and vehicles | 24 | €3,285 | €57,433 | +€54,148 | +1,648% |
| Other tangible fixed assets | 26 | €947 | €789 | -€158 | -16.7% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €330,093 | €252,812 | -€77,281 | -23.4% |
| Amounts receivable after more than one year | 29 | €123,656 | €123,656 | = | 0.0% |
| Other amounts receivable | 291 | €123,656 | €123,656 | = | 0.0% |
| Stocks and contracts in progress | 3 | €6,914 | €10,346 | +€3,431 | +49.6% |
| Stocks | 30/36 | €6,914 | €10,346 | +€3,431 | +49.6% |
| Amounts receivable within one year | 40/41 | €28,609 | €41,392 | +€12,783 | +44.7% |
| Trade receivables | 40 | €13,557 | €23,913 | +€10,356 | +76.4% |
| Other amounts receivable | 41 | €15,052 | €17,479 | +€2,427 | +16.1% |
| Cash at bank and in hand | 54/58 | €169,544 | €76,363 | -€93,182 | -55.0% |
| Deferred charges and accrued income | 490/1 | €1,370 | €1,057 | -€313 | -22.9% |
| Total equity and liabilities | 10/49 | €341,294 | €365,730 | +€24,436 | +7.2% |
| Equity | 10/15 | €265,982 | €160,777 | -€105,205 | -39.6% |
| Contributions | 10/11 | €108,000 | €108,000 | = | 0.0% |
| Reserves | 13 | €157,391 | €52,735 | -€104,656 | -66.5% |
| Non-distributable reserves | 130/1 | €123,656 | €0 | -€123,656 | -100% |
| Financial assistance | 1313 | €123,656 | - | -€123,656 | |
| Distributable reserves | 133 | €33,735 | €52,735 | +€19,000 | +56.3% |
| Profit (loss) carried forward | 14 | €591 | €42 | -€549 | -92.9% |
| Amounts payable | 17/49 | €75,312 | €204,953 | +€129,640 | +172% |
| Amounts payable after more than one year | 17 | - | €39,492 | +€39,492 | |
| Financial debts | 170/4 | - | €39,492 | +€39,492 | |
| Amounts payable within one year | 42/48 | €75,312 | €165,461 | +€90,149 | +120% |
| Current portion of amounts payable after more than one year | 42 | - | €16,783 | +€16,783 | |
| Trade debts | 44 | €10,169 | €5,453 | -€4,716 | -46.4% |
| Suppliers | 440/4 | €10,169 | €5,453 | -€4,716 | -46.4% |
| Advances received on contracts in progress | 46 | €9,434 | - | -€9,434 | |
| Taxes, remuneration and social security | 45 | €15,709 | €9,569 | -€6,141 | -39.1% |
| Taxes | 450/3 | €722 | €764 | +€42 | +5.8% |
| Remuneration and social security | 454/9 | €14,987 | €8,805 | -€6,182 | -41.2% |
| Other amounts payable | 47/48 | €40,000 | €133,656 | +€93,656 | +234% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €136,951 | €130,619 | -€6,332 | -4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,236 | €7,740 | +€3,504 | +82.7% |
| Other operating charges | 640/8 | €1,494 | €1,350 | -€144 | -9.7% |
| Gross operating margin | 9900 | €178,497 | €169,608 | -€8,888 | -5.0% |
| Operating profit (loss) | 9901 | €35,816 | €29,900 | -€5,916 | -16.5% |
| Financial income | 75/76B | €4,222 | €4,280 | +€58 | +1.4% |
| Recurring financial income | 75 | €4,222 | €4,280 | +€58 | +1.4% |
| Financial charges | 65/66B | €66 | €850 | +€784 | +1,188% |
| Recurring financial charges | 65 | €66 | €850 | +€784 | +1,188% |
| Profit (loss) for the period before taxes | 9903 | €39,972 | €33,330 | -€6,642 | -16.6% |
| Income taxes | 67/77 | €10,358 | €4,879 | -€5,480 | -52.9% |
| Profit (loss) for the period | 9904 | €29,613 | €28,451 | -€1,162 | -3.9% |
| Profit (loss) for the period to be appropriated | 9905 | €29,613 | €28,451 | -€1,162 | -3.9% |
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 27 October 2026 via checked.be.