DAVHUB: 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.
DAVHUB
Largest movements
- Tangible fixed assets -€68,790
down €68,790 (-20.6%), from €334,494 to €265,703
of which Other tangible fixed assets: -€44,236
- Cash +€60,976
up €60,976 (+30.3%), from €201,479 to €262,455
mainly Depreciation (+€126,007) and Trade debts (+€67,950)
- Receivables within one year -€24,188
down €24,188 (-14.8%), from €163,351 to €139,163
of which Trade receivables: -€47,154
- Other debts -€75,547
down €75,547 (-65.2%), from €115,859 to €40,312
- Trade debts +€67,950
up €67,950 (+34.8%), from €195,291 to €263,241
- Current portion of long-term debt -€13,248
down €13,248 (-14.0%), from €94,757 to €81,509
- Debts after one year -€11,343
down €11,343 (-6.6%), from €172,481 to €161,138
- Tax, wage and social debts -€8,561
down €8,561 (-5.5%), from €154,833 to €146,273
of which Taxes: -€44,382
- Staff costs +€191,624
up €191,624 (+29.0%), from €661,141 to €852,765
- Financial charges +€63,935
up €63,935 (+212%), from €30,144 to €94,079
- Taxes -€54,194
down €54,194 (-97.0%), from €55,862 to €1,669
- Gross operating margin +€36,820
up €36,820 (+3.5%), from €1.0m to €1.1m
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 | €810,285 | €768,921 | -€41,364 | -5.1% |
| Fixed assets | 21/28 | €340,444 | €271,153 | -€69,290 | -20.4% |
| Intangible fixed assets | 21 | €1,750 | €1,250 | -€500 | -28.6% |
| Tangible fixed assets | 22/27 | €334,494 | €265,703 | -€68,790 | -20.6% |
| Land and buildings | 22 | €1,233 | €10 | -€1,223 | -99.2% |
| Plant, machinery and equipment | 23 | €37,890 | €31,927 | -€5,963 | -15.7% |
| Furniture and vehicles | 24 | €6,253 | €8,858 | +€2,605 | +41.7% |
| Leasing and similar rights | 25 | €122,875 | €102,902 | -€19,973 | -16.3% |
| Other tangible fixed assets | 26 | €166,243 | €122,006 | -€44,236 | -26.6% |
| Financial fixed assets | 28 | €4,200 | €4,200 | = | 0.0% |
| Current assets | 29/58 | €469,841 | €497,768 | +€27,927 | +5.9% |
| Stocks and contracts in progress | 3 | €91,628 | €85,172 | -€6,456 | -7.0% |
| Stocks | 30/36 | €91,628 | €85,172 | -€6,456 | -7.0% |
| Amounts receivable within one year | 40/41 | €163,351 | €139,163 | -€24,188 | -14.8% |
| Trade receivables | 40 | €63,556 | €16,402 | -€47,154 | -74.2% |
| Other amounts receivable | 41 | €99,795 | €122,761 | +€22,966 | +23.0% |
| Cash at bank and in hand | 54/58 | €201,479 | €262,455 | +€60,976 | +30.3% |
| Deferred charges and accrued income | 490/1 | €13,383 | €10,979 | -€2,404 | -18.0% |
| Total equity and liabilities | 10/49 | €810,285 | €768,921 | -€41,364 | -5.1% |
| Equity | 10/15 | €77,064 | €76,449 | -€614 | -0.8% |
| Contributions | 10/11 | €36,000 | €36,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,064 | €40,449 | -€614 | -1.5% |
| Amounts payable | 17/49 | €733,221 | €692,472 | -€40,749 | -5.6% |
| Amounts payable after more than one year | 17 | €172,481 | €161,138 | -€11,343 | -6.6% |
| Financial debts | 170/4 | €172,481 | €161,138 | -€11,343 | -6.6% |
| Amounts payable within one year | 42/48 | €560,740 | €531,334 | -€29,407 | -5.2% |
| Current portion of amounts payable after more than one year | 42 | €94,757 | €81,509 | -€13,248 | -14.0% |
| Trade debts | 44 | €195,291 | €263,241 | +€67,950 | +34.8% |
| Suppliers | 440/4 | €195,291 | €263,241 | +€67,950 | +34.8% |
| Taxes, remuneration and social security | 45 | €154,833 | €146,273 | -€8,561 | -5.5% |
| Taxes | 450/3 | €78,562 | €34,180 | -€44,382 | -56.5% |
| Remuneration and social security | 454/9 | €76,271 | €112,092 | +€35,821 | +47.0% |
| Other amounts payable | 47/48 | €115,859 | €40,312 | -€75,547 | -65.2% |
| Non-recurring operating income | 76A | €3,032 | €0 | -€3,032 | -100% |
| Remuneration, social security and pensions | 62 | €661,141 | €852,765 | +€191,624 | +29.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €126,665 | €126,007 | -€657 | -0.5% |
| Other operating charges | 640/8 | €6,457 | €7,436 | +€979 | +15.2% |
| Non-recurring operating charges | 66A | €6,528 | €0 | -€6,528 | -100% |
| Gross operating margin | 9900 | €1,044,517 | €1,081,336 | +€36,820 | +3.5% |
| Operating profit (loss) | 9901 | €243,727 | €95,129 | -€148,598 | -61.0% |
| Financial income | 75/76B | €240 | €5 | -€235 | -97.9% |
| Recurring financial income | 75 | €9 | €5 | -€3 | -40.4% |
| Non-recurring financial income | 76B | €232 | €0 | -€232 | -100% |
| Financial charges | 65/66B | €30,144 | €94,079 | +€63,935 | +212% |
| Recurring financial charges | 65 | €30,144 | €94,079 | +€63,935 | +212% |
| Profit (loss) for the period before taxes | 9903 | €213,823 | €1,055 | -€212,768 | -99.5% |
| Income taxes | 67/77 | €55,862 | €1,669 | -€54,194 | -97.0% |
| Profit (loss) for the period | 9904 | €157,960 | -€614 | -€158,574 | |
| Profit (loss) for the period to be appropriated | 9905 | €157,960 | -€614 | -€158,574 |
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 14 October 2026 via checked.be.