DAVENPORT: 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.
DAVENPORT
Largest movements
- Cash +€870,933
up €870,933 (+454%), from €191,935 to €1.1m
mainly Current investments (+€750,845) and Net result for the year (+€80,700)
- Current investments -€750,845
down €750,845 (-57.3%), from €1.3m to €559,803
- Reserves +€80,700
up €80,700 (+6.8%), from €1.2m to €1.3m
of which Distributable reserves: +€80,700
- Gross operating margin +€84,640
up €84,640 (+680%), from €12,451 to €97,091
- Financial charges -€40,152
down €40,152 (-97.9%), from €41,010 to €858
- Taxes +€21,201
up €21,201 (+819%), from €2,590 to €23,791
- Depreciation -€4,023
down €4,023 (-21.2%), from €18,998 to €14,975
- Financial income -€3,657
down €3,657 (-11.7%), from €31,161 to €27,504
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 | €1,868,838 | €1,962,930 | +€94,092 | +5.0% |
| Fixed assets | 21/28 | €255,674 | €240,699 | -€14,975 | -5.9% |
| Tangible fixed assets | 22/27 | €255,674 | €240,699 | -€14,975 | -5.9% |
| Land and buildings | 22 | €250,280 | €238,089 | -€12,191 | -4.9% |
| Furniture and vehicles | 24 | €5,394 | €2,610 | -€2,784 | -51.6% |
| Current assets | 29/58 | €1,613,164 | €1,722,231 | +€109,067 | +6.8% |
| Amounts receivable within one year | 40/41 | €110,481 | €99,560 | -€10,921 | -9.9% |
| Trade receivables | 40 | €48,479 | €48,479 | = | 0.0% |
| Other amounts receivable | 41 | €62,002 | €51,081 | -€10,921 | -17.6% |
| Current investments | 50/53 | €1,310,648 | €559,803 | -€750,845 | -57.3% |
| Cash at bank and in hand | 54/58 | €191,935 | €1,062,868 | +€870,933 | +454% |
| Deferred charges and accrued income | 490/1 | €100 | - | -€100 | |
| Total equity and liabilities | 10/49 | €1,868,838 | €1,962,930 | +€94,092 | +5.0% |
| Equity | 10/15 | €1,833,690 | €1,914,390 | +€80,700 | +4.4% |
| Contributions | 10/11 | €622,400 | €622,400 | = | 0.0% |
| Reserves | 13 | €1,191,275 | €1,271,975 | +€80,700 | +6.8% |
| Non-distributable reserves | 130/1 | €43,625 | €43,625 | = | 0.0% |
| Reserves not available under the articles | 1311 | €43,625 | €43,625 | = | 0.0% |
| Distributable reserves | 133 | €1,147,650 | €1,228,350 | +€80,700 | +7.0% |
| Profit (loss) carried forward | 14 | €20,015 | €20,015 | = | 0.0% |
| Provisions and deferred taxes | 16 | €10,000 | €10,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €10,000 | €10,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €10,000 | €10,000 | = | 0.0% |
| Amounts payable | 17/49 | €25,147 | €38,540 | +€13,392 | +53.3% |
| Amounts payable within one year | 42/48 | €25,147 | €38,540 | +€13,392 | +53.3% |
| Trade debts | 44 | - | €1,470 | +€1,470 | |
| Suppliers | 440/4 | - | €1,470 | +€1,470 | |
| Taxes, remuneration and social security | 45 | €898 | €16,534 | +€15,636 | +1,741% |
| Taxes | 450/3 | €898 | €16,534 | +€15,636 | +1,741% |
| Other amounts payable | 47/48 | €24,249 | €20,536 | -€3,714 | -15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,998 | €14,975 | -€4,023 | -21.2% |
| Other operating charges | 640/8 | €4,760 | €4,271 | -€489 | -10.3% |
| Gross operating margin | 9900 | €12,451 | €97,091 | +€84,640 | +680% |
| Operating profit (loss) | 9901 | -€11,306 | €77,845 | +€89,152 | |
| Financial income | 75/76B | €31,161 | €27,504 | -€3,657 | -11.7% |
| Recurring financial income | 75 | €31,161 | €27,504 | -€3,657 | -11.7% |
| Financial charges | 65/66B | €41,010 | €858 | -€40,152 | -97.9% |
| Recurring financial charges | 65 | €41,010 | €858 | -€40,152 | -97.9% |
| Profit (loss) for the period before taxes | 9903 | -€21,156 | €104,491 | +€125,647 | |
| Income taxes | 67/77 | €2,590 | €23,791 | +€21,201 | +819% |
| Profit (loss) for the period | 9904 | -€23,745 | €80,700 | +€104,445 | |
| Profit (loss) for the period to be appropriated | 9905 | -€23,745 | €80,700 | +€104,445 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.