DAVEX: 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.
DAVEX
Largest movements
- Financial fixed assets +€1.0m
up €1.0m (+115.1%), from €897,920 to €1.9m
- Cash -€248,983
down €248,983 (-68.5%), from €363,466 to €114,483
mainly Investment in fixed assets (net) (-€1.1m) and Contributions, distributions and other (-€117,647)
- Debts after one year +€485,376
up €485,376 (+485.4%), from €100,000 to €585,376
- Equity +€238,664
up €238,664 (+19.6%), from €1.2m to €1.5m
of which Reserves: +€238,664
- Debts within one year +€88,542
up €88,542 (+48.8%), from €181,521 to €270,063
of which Other debts: +€150,512
- Gross operating margin -€57,095
down €57,095 (-10.6%), from €539,338 to €482,242
- Taxes -€19,433
down €19,433 (-14.4%), from €134,675 to €115,242
- Financial charges +€6,478
new in 2022: €6,478
From the 2021 result to the 2022 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 2021 and 2022 balance sheets and the 2022 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2021 | 2022 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,496,193 | €2,308,776 | +€812,582 | +54.3% |
| Fixed assets | 21/28 | €903,966 | €1,951,531 | +€1.0m | +115.9% |
| Tangible fixed assets | 22/27 | €6,046 | €20,486 | +€14,440 | +238.8% |
| Plant, machinery and equipment | 23 | - | €6,463 | +€6,463 | |
| Furniture and vehicles | 24 | - | €3,199 | +€3,199 | |
| Other tangible fixed assets | 26 | - | €10,824 | +€10,824 | |
| Financial fixed assets | 28 | €897,920 | €1,931,045 | +€1.0m | +115.1% |
| Current assets | 29/58 | €592,227 | €357,245 | -€234,983 | -39.7% |
| Amounts receivable within one year | 40/41 | €131 | €20,199 | +€20,069 | +15345.4% |
| Other amounts receivable | 41 | - | €20,199 | +€20,199 | |
| Current investments | 50/53 | €228,631 | €222,562 | -€6,068 | -2.7% |
| Cash at bank and in hand | 54/58 | €363,466 | €114,483 | -€248,983 | -68.5% |
| Total equity and liabilities | 10/49 | €1,496,193 | €2,308,776 | +€812,582 | +54.3% |
| Equity | 10/15 | €1,214,672 | €1,453,336 | +€238,664 | +19.6% |
| Contributions | 10/11 | - | €50,000 | +€50,000 | |
| Reserves | 13 | €1,164,672 | €1,403,336 | +€238,664 | +20.5% |
| Non-distributable reserves | 130/1 | - | €5,000 | +€5,000 | |
| Reserves not available under the articles | 1311 | - | €5,000 | +€5,000 | |
| Distributable reserves | 133 | - | €1,398,336 | +€1.4m | |
| Amounts payable | 17/49 | €281,521 | €855,439 | +€573,918 | +203.9% |
| Amounts payable after more than one year | 17 | €100,000 | €585,376 | +€485,376 | +485.4% |
| Financial debts | 170/4 | - | €585,376 | +€585,376 | |
| Amounts payable within one year | 42/48 | €181,521 | €270,063 | +€88,542 | +48.8% |
| Current portion of amounts payable after more than one year | 42 | - | €98,299 | +€98,299 | |
| Trade debts | 44 | €909 | €2,444 | +€1,535 | +168.8% |
| Suppliers | 440/4 | - | €2,444 | +€2,444 | |
| Taxes, remuneration and social security | 45 | - | €18,809 | +€18,809 | |
| Taxes | 450/3 | - | €18,809 | +€18,809 | |
| Other amounts payable | 47/48 | - | €150,512 | +€150,512 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,847 | €3,798 | +€951 | +33.4% |
| Other operating charges | 640/8 | - | €3,782 | +€3,782 | |
| Gross operating margin | 9900 | €539,338 | €482,242 | -€57,095 | -10.6% |
| Operating profit (loss) | 9901 | €534,758 | €474,662 | -€60,096 | -11.2% |
| Financial income | 75/76B | - | €3,369 | +€3,369 | |
| Recurring financial income | 75 | €1,790 | €3,369 | +€1,579 | +88.2% |
| Financial charges | 65/66B | - | €6,478 | +€6,478 | |
| Recurring financial charges | 65 | €11,700 | €6,478 | -€5,222 | -44.6% |
| Profit (loss) for the period before taxes | 9903 | €524,848 | €471,553 | -€53,295 | -10.2% |
| Income taxes | 67/77 | €134,675 | €115,242 | -€19,433 | -14.4% |
| Profit (loss) for the period | 9904 | €390,173 | €356,311 | -€33,862 | -8.7% |
| Transfer from tax-exempt reserves | 789 | - | €186,000 | +€186,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €464,573 | €542,311 | +€77,738 | +16.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2021 and 31 March 2022. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.