DAVID: 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.
DAVID
Largest movements
- Tangible fixed assets -€31,191
down €31,191 (-7.5%), from €413,383 to €382,192
of which Land and buildings: -€31,071
- Receivables within one year +€10,024
up €10,024 (+152.1%), from €6,591 to €16,615
of which Other amounts receivable: +€10,238
- Cash +€5,975
up €5,975 (+58.9%), from €10,145 to €16,120
mainly Net result for the year (+€25,160) and Investment in fixed assets (net) (+€19,455)
- Other debts -€40,000
down €40,000 (-3.8%), from €1.1m to €1.0m
- Profit (loss) carried forward +€25,160
up €25,160 (+3.4%), from -€741,269 to -€716,109
- Gross operating margin +€30,136
up €30,136 (+232.2%), from €12,979 to €43,115
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 | €431,635 | €416,120 | -€15,516 | -3.6% |
| Fixed assets | 21/28 | €413,383 | €382,192 | -€31,191 | -7.5% |
| Tangible fixed assets | 22/27 | €413,383 | €382,192 | -€31,191 | -7.5% |
| Land and buildings | 22 | €412,468 | €381,397 | -€31,071 | -7.5% |
| Plant, machinery and equipment | 23 | €915 | €795 | -€120 | -13.1% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €18,252 | €33,928 | +€15,675 | +85.9% |
| Amounts receivable within one year | 40/41 | €6,591 | €16,615 | +€10,024 | +152.1% |
| Trade receivables | 40 | €214 | €0 | -€214 | -100.0% |
| Other amounts receivable | 41 | €6,377 | €16,615 | +€10,238 | +160.6% |
| Cash at bank and in hand | 54/58 | €10,145 | €16,120 | +€5,975 | +58.9% |
| Deferred charges and accrued income | 490/1 | €1,517 | €1,193 | -€323 | -21.3% |
| Total equity and liabilities | 10/49 | €431,635 | €416,120 | -€15,516 | -3.6% |
| Equity | 10/15 | -€623,072 | -€597,912 | +€25,160 | +4.0% |
| Contributions | 10/11 | €112,000 | €112,000 | = | 0.0% |
| Capital | 10 | €112,000 | €112,000 | = | 0.0% |
| Issued capital | 100 | €112,000 | €112,000 | = | 0.0% |
| Reserves | 13 | €6,197 | €6,197 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€741,269 | -€716,109 | +€25,160 | +3.4% |
| Amounts payable | 17/49 | €1,054,707 | €1,014,032 | -€40,676 | -3.9% |
| Amounts payable within one year | 42/48 | €1,054,083 | €1,014,032 | -€40,051 | -3.8% |
| Trade debts | 44 | €125 | €79 | -€46 | -36.8% |
| Suppliers | 440/4 | €125 | €79 | -€46 | -36.8% |
| Taxes, remuneration and social security | 45 | €5 | €0 | -€5 | -100.0% |
| Taxes | 450/3 | €5 | €0 | -€5 | -100.0% |
| Other amounts payable | 47/48 | €1,053,953 | €1,013,953 | -€40,000 | -3.8% |
| Accrued charges and deferred income | 492/3 | €625 | €0 | -€625 | -100.0% |
| Non-recurring operating income | 76A | - | €25,545 | +€25,545 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,736 | €11,736 | = | 0.0% |
| Other operating charges | 640/8 | €6,375 | €6,174 | -€201 | -3.2% |
| Gross operating margin | 9900 | €12,979 | €43,115 | +€30,136 | +232.2% |
| Operating profit (loss) | 9901 | -€5,131 | €25,205 | +€30,337 | |
| Financial income | 75/76B | €18 | €0 | -€18 | -100.0% |
| Recurring financial income | 75 | €18 | €0 | -€18 | -100.0% |
| Financial charges | 65/66B | €81 | €45 | -€36 | -44.5% |
| Recurring financial charges | 65 | €81 | €45 | -€36 | -44.5% |
| Profit (loss) for the period before taxes | 9903 | -€5,195 | €25,160 | +€30,355 | |
| Income taxes | 67/77 | €5 | €0 | -€5 | -100.0% |
| Profit (loss) for the period | 9904 | -€5,200 | €25,160 | +€30,360 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,200 | €25,160 | +€30,360 |
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 30 September 2026 via checked.be.