DAVICO: 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.
DAVICO
Largest movements
- Receivables within one year +€29,732
up €29,732 (+75.5%), from €39,398 to €69,130
of which Other amounts receivable: +€30,170
- Cash -€3,904
down €3,904 (-86.3%), from €4,525 to €621
mainly Receivables within one year (-€29,732) and Deferred charges and accrued income (-€364)
- Reserves +€22,491
up €22,491 (+86.1%), from €26,127 to €48,618
- Tax, wage and social debts +€3,353
up €3,353 (+32.8%), from €10,234 to €13,587
- Gross operating margin -€3,171
down €3,171 (-9.1%), from €34,706 to €31,535
- Financial charges +€1,273
up €1,273 (+569%), from €224 to €1,497
- Taxes -€881
down €881 (-12.2%), from €7,234 to €6,353
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 | €46,837 | €72,528 | +€25,692 | +54.9% |
| Fixed assets | 21/28 | €2,778 | €2,278 | -€500 | -18.0% |
| Tangible fixed assets | 22/27 | €1,978 | €1,478 | -€500 | -25.3% |
| Plant, machinery and equipment | 23 | €1,978 | €1,478 | -€500 | -25.3% |
| Financial fixed assets | 28 | €800 | €800 | = | 0.0% |
| Current assets | 29/58 | €44,058 | €70,250 | +€26,192 | +59.4% |
| Amounts receivable within one year | 40/41 | €39,398 | €69,130 | +€29,732 | +75.5% |
| Trade receivables | 40 | €36,256 | €35,818 | -€438 | -1.2% |
| Other amounts receivable | 41 | €3,142 | €33,312 | +€30,170 | +960% |
| Cash at bank and in hand | 54/58 | €4,525 | €621 | -€3,904 | -86.3% |
| Deferred charges and accrued income | 490/1 | €135 | €499 | +€364 | +270% |
| Total equity and liabilities | 10/49 | €46,837 | €72,528 | +€25,692 | +54.9% |
| Equity | 10/15 | €31,127 | €53,618 | +€22,491 | +72.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €26,127 | €48,618 | +€22,491 | +86.1% |
| Distributable reserves | 133 | €26,127 | €48,618 | +€22,491 | +86.1% |
| Amounts payable | 17/49 | €15,709 | €18,910 | +€3,201 | +20.4% |
| Amounts payable within one year | 42/48 | €15,709 | €18,910 | +€3,201 | +20.4% |
| Trade debts | 44 | €5,476 | €5,324 | -€152 | -2.8% |
| Suppliers | 440/4 | €5,476 | €5,324 | -€152 | -2.8% |
| Taxes, remuneration and social security | 45 | €10,234 | €13,587 | +€3,353 | +32.8% |
| Taxes | 450/3 | €10,234 | €13,587 | +€3,353 | +32.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €522 | €500 | -€22 | -4.2% |
| Other operating charges | 640/8 | €601 | €696 | +€95 | +15.7% |
| Gross operating margin | 9900 | €34,706 | €31,535 | -€3,171 | -9.1% |
| Operating profit (loss) | 9901 | €33,583 | €30,339 | -€3,244 | -9.7% |
| Financial income | 75/76B | €1 | €1 | = | 0.0% |
| Recurring financial income | 75 | €1 | €1 | = | 0.0% |
| Financial charges | 65/66B | €224 | €1,497 | +€1,273 | +569% |
| Recurring financial charges | 65 | €224 | €1,497 | +€1,273 | +569% |
| Profit (loss) for the period before taxes | 9903 | €33,361 | €28,844 | -€4,517 | -13.5% |
| Income taxes | 67/77 | €7,234 | €6,353 | -€881 | -12.2% |
| Profit (loss) for the period | 9904 | €26,127 | €22,491 | -€3,636 | -13.9% |
| Profit (loss) for the period to be appropriated | 9905 | €26,127 | €22,491 | -€3,636 | -13.9% |
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 13 October 2026 via checked.be.