DAVIATION: 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.
DAVIATION
Largest movements
- Receivables after one year +€554,085
up €554,085 (+128.9%), from €430,000 to €984,085
- Cash -€314,029
down €314,029 (-74.7%), from €420,521 to €106,492
mainly Receivables after one year (-€554,085) and Contributions, distributions and other (-€475,218)
- Current investments -€80,740
down €80,740 (-16.5%), from €488,204 to €407,464
- Tangible fixed assets -€52,707
down €52,707 (-10.9%), from €481,845 to €429,137
of which Land and buildings: -€29,304
- Receivables within one year -€50,413
down €50,413 (-50.8%), from €99,317 to €48,904
of which Trade receivables: -€57,035
- Reserves +€326,568
up €326,568 (+16.2%), from €2.0m to €2.3m
- Other debts -€258,900
down €258,900 (-98.7%), from €262,380 to €3,480
- Gross operating margin +€185,700
up €185,700 (+20.8%), from €890,974 to €1.1m
- Taxes +€52,463
up €52,463 (+26.1%), from €201,289 to €253,753
- Financial income +€36,819
up €36,819 (+202.4%), from €18,191 to €55,010
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 | €2,399,779 | €2,446,871 | +€47,092 | +2.0% |
| Fixed assets | 21/28 | €482,171 | €429,463 | -€52,707 | -10.9% |
| Tangible fixed assets | 22/27 | €481,845 | €429,137 | -€52,707 | -10.9% |
| Land and buildings | 22 | €419,136 | €389,833 | -€29,304 | -7.0% |
| Plant, machinery and equipment | 23 | €8,291 | €7,088 | -€1,203 | -14.5% |
| Furniture and vehicles | 24 | €54,417 | €32,216 | -€22,201 | -40.8% |
| Financial fixed assets | 28 | €326 | €326 | = | 0.0% |
| Current assets | 29/58 | €1,917,609 | €2,017,408 | +€99,799 | +5.2% |
| Amounts receivable after more than one year | 29 | €430,000 | €984,085 | +€554,085 | +128.9% |
| Other amounts receivable | 291 | €430,000 | €984,085 | +€554,085 | +128.9% |
| Stocks and contracts in progress | 3 | €475,300 | €466,000 | -€9,300 | -2.0% |
| Stocks | 30/36 | €475,300 | €466,000 | -€9,300 | -2.0% |
| Amounts receivable within one year | 40/41 | €99,317 | €48,904 | -€50,413 | -50.8% |
| Trade receivables | 40 | €99,007 | €41,972 | -€57,035 | -57.6% |
| Other amounts receivable | 41 | €310 | €6,932 | +€6,622 | +2138.7% |
| Current investments | 50/53 | €488,204 | €407,464 | -€80,740 | -16.5% |
| Cash at bank and in hand | 54/58 | €420,521 | €106,492 | -€314,029 | -74.7% |
| Deferred charges and accrued income | 490/1 | €4,267 | €4,462 | +€196 | +4.6% |
| Total equity and liabilities | 10/49 | €2,399,779 | €2,446,871 | +€47,092 | +2.0% |
| Equity | 10/15 | €2,029,818 | €2,356,386 | +€326,568 | +16.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,009,818 | €2,336,386 | +€326,568 | +16.2% |
| Distributable reserves | 133 | €2,009,818 | €2,336,386 | +€326,568 | +16.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €369,961 | €90,485 | -€279,476 | -75.5% |
| Amounts payable within one year | 42/48 | €368,816 | €89,316 | -€279,500 | -75.8% |
| Trade debts | 44 | €99,031 | €85,095 | -€13,936 | -14.1% |
| Suppliers | 440/4 | €99,031 | €85,095 | -€13,936 | -14.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €7,405 | €741 | -€6,664 | -90.0% |
| Taxes | 450/3 | €7,405 | €741 | -€6,664 | -90.0% |
| Other amounts payable | 47/48 | €262,380 | €3,480 | -€258,900 | -98.7% |
| Accrued charges and deferred income | 492/3 | €1,146 | €1,169 | +€24 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,703 | €52,707 | +€2,004 | +4.0% |
| Other operating charges | 640/8 | €6,707 | €11,013 | +€4,306 | +64.2% |
| Gross operating margin | 9900 | €890,974 | €1,076,674 | +€185,700 | +20.8% |
| Operating profit (loss) | 9901 | €833,565 | €1,012,954 | +€179,389 | +21.5% |
| Financial income | 75/76B | €18,191 | €55,010 | +€36,819 | +202.4% |
| Recurring financial income | 75 | €18,191 | €55,010 | +€36,819 | +202.4% |
| Financial charges | 65/66B | €13,319 | €12,425 | -€894 | -6.7% |
| Recurring financial charges | 65 | €13,319 | €12,425 | -€894 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €838,436 | €1,055,538 | +€217,103 | +25.9% |
| Income taxes | 67/77 | €201,289 | €253,753 | +€52,463 | +26.1% |
| Profit (loss) for the period | 9904 | €637,146 | €801,786 | +€164,639 | +25.8% |
| Profit (loss) for the period to be appropriated | 9905 | €637,146 | €801,786 | +€164,639 | +25.8% |
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 5 October 2026 via checked.be.