DAVHOLD: 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.
DAVHOLD
Largest movements
- Receivables after one year +€11.0m
new in 2025: €11.0m
- Receivables within one year -€9.6m
down €9.6m (-99.9%), from €9.6m to €12,933
- Short-term financial debts +€1.4m
new in 2025: €1.4m
- Financial income -€122,727
down €122,727 (-23.3%), from €527,490 to €404,763
- Gross operating margin +€10,004
up €10,004 (+98.1%), from -€10,201 to -€197
- Financial charges +€4,960
up €4,960 (+706.0%), from €703 to €5,662
- Other operating charges +€337
up €337 (+30.8%), from €1,094 to €1,430
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 | €55,395,698 | €57,068,553 | +€1.7m | +3.0% |
| Fixed assets | 21/28 | €44,979,707 | €44,979,707 | = | 0.0% |
| Financial fixed assets | 28 | €44,979,707 | €44,979,707 | = | 0.0% |
| Current assets | 29/58 | €10,415,991 | €12,088,845 | +€1.7m | +16.1% |
| Amounts receivable after more than one year | 29 | - | €10,991,344 | +€11.0m | |
| Other amounts receivable | 291 | - | €10,991,344 | +€11.0m | |
| Amounts receivable within one year | 40/41 | €9,562,933 | €12,933 | -€9.6m | -99.9% |
| Other amounts receivable | 41 | €9,562,933 | €12,933 | -€9.6m | -99.9% |
| Cash at bank and in hand | 54/58 | €113,741 | €62,183 | -€51,558 | -45.3% |
| Deferred charges and accrued income | 490/1 | €739,318 | €1,022,386 | +€283,068 | +38.3% |
| Total equity and liabilities | 10/49 | €55,395,698 | €57,068,553 | +€1.7m | +3.0% |
| Equity | 10/15 | €55,252,123 | €55,649,596 | +€397,473 | +0.7% |
| Contributions | 10/11 | €44,113,962 | €44,113,962 | = | 0.0% |
| Reserves | 13 | €2,048,512 | €2,048,512 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,336 | €25,336 | = | 0.0% |
| Other | 1319 | €25,336 | €25,336 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,110,568 | €1,110,568 | = | 0.0% |
| Distributable reserves | 133 | €912,608 | €912,608 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,089,649 | €9,487,122 | +€397,473 | +4.4% |
| Amounts payable | 17/49 | €143,575 | €1,418,956 | +€1.3m | +888.3% |
| Amounts payable within one year | 42/48 | €143,575 | €1,418,956 | +€1.3m | +888.3% |
| Financial debts | 43 | - | €1,354,958 | +€1.4m | |
| Credit institutions | 430/8 | - | €1,354,958 | +€1.4m | |
| Trade debts | 44 | €69,919 | €63,998 | -€5,921 | -8.5% |
| Suppliers | 440/4 | €69,919 | €63,998 | -€5,921 | -8.5% |
| Other amounts payable | 47/48 | €73,656 | - | -€73,656 | |
| Other operating charges | 640/8 | €1,094 | €1,430 | +€337 | +30.8% |
| Gross operating margin | 9900 | -€10,201 | -€197 | +€10,004 | +98.1% |
| Operating profit (loss) | 9901 | -€11,295 | -€1,627 | +€9,667 | +85.6% |
| Financial income | 75/76B | €527,490 | €404,763 | -€122,727 | -23.3% |
| Recurring financial income | 75 | €527,490 | €404,763 | -€122,727 | -23.3% |
| Financial charges | 65/66B | €703 | €5,662 | +€4,960 | +706.0% |
| Recurring financial charges | 65 | €703 | €5,662 | +€4,960 | +706.0% |
| Profit (loss) for the period before taxes | 9903 | €515,493 | €397,473 | -€118,020 | -22.9% |
| Profit (loss) for the period | 9904 | €515,493 | €397,473 | -€118,020 | -22.9% |
| Profit (loss) for the period to be appropriated | 9905 | €515,493 | €397,473 | -€118,020 | -22.9% |
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 7 October 2026 via checked.be.