David DALLA VECCHIA: 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.
David DALLA VECCHIA
Largest movements
- Cash -€20,496
down €20,496 (-69.6%), from €29,445 to €8,949
mainly Tax, wage and social debts (-€21,039) and Debts after one year (-€7,737)
- Receivables within one year +€5,539
up €5,539 (+214%), from €2,592 to €8,130
of which Other amounts receivable: +€6,627
- Tax, wage and social debts -€21,039
down €21,039 (-96.9%), from €21,706 to €667
- Debts after one year -€7,737
down €7,737 (-6.2%), from €125,107 to €117,369
- Reserves +€6,102
up €6,102 (+9.6%), from €63,429 to €69,530
of which Distributable reserves: +€6,102
- Other debts +€6,090
up €6,090 (+252%), from €2,419 to €8,510
- Gross operating margin -€48,903
down €48,903 (-73.6%), from €66,463 to €17,560
- Taxes -€13,846
down €13,846 (-80.7%), from €17,167 to €3,321
- Financial charges -€1,065
down €1,065 (-14.2%), from €7,495 to €6,430
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.
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 | €228,658 | €213,072 | -€15,585 | -6.8% |
| Fixed assets | 21/28 | €194,156 | €193,332 | -€824 | -0.4% |
| Tangible fixed assets | 22/27 | €194,156 | €193,332 | -€824 | -0.4% |
| Land and buildings | 22 | €188,100 | €188,100 | = | 0.0% |
| Furniture and vehicles | 24 | €208 | - | -€208 | |
| Other tangible fixed assets | 26 | €5,848 | €5,232 | -€616 | -10.5% |
| Current assets | 29/58 | €34,502 | €19,741 | -€14,761 | -42.8% |
| Amounts receivable within one year | 40/41 | €2,592 | €8,130 | +€5,539 | +214% |
| Trade receivables | 40 | €2,592 | €1,503 | -€1,088 | -42.0% |
| Other amounts receivable | 41 | - | €6,627 | +€6,627 | |
| Cash at bank and in hand | 54/58 | €29,445 | €8,949 | -€20,496 | -69.6% |
| Deferred charges and accrued income | 490/1 | €2,465 | €2,662 | +€196 | +8.0% |
| Total equity and liabilities | 10/49 | €228,658 | €213,072 | -€15,585 | -6.8% |
| Equity | 10/15 | €69,629 | €75,730 | +€6,102 | +8.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €63,429 | €69,530 | +€6,102 | +9.6% |
| Tax-exempt reserves | 132 | €484 | €484 | = | 0.0% |
| Distributable reserves | 133 | €62,945 | €69,047 | +€6,102 | +9.7% |
| Amounts payable | 17/49 | €159,029 | €137,342 | -€21,687 | -13.6% |
| Amounts payable after more than one year | 17 | €125,107 | €117,369 | -€7,737 | -6.2% |
| Financial debts | 170/4 | €125,107 | €117,369 | -€7,737 | -6.2% |
| Amounts payable within one year | 42/48 | €33,922 | €19,973 | -€13,950 | -41.1% |
| Current portion of amounts payable after more than one year | 42 | €7,434 | €7,737 | +€304 | +4.1% |
| Trade debts | 44 | €2,363 | €3,059 | +€695 | +29.4% |
| Suppliers | 440/4 | €2,363 | €3,059 | +€695 | +29.4% |
| Taxes, remuneration and social security | 45 | €21,706 | €667 | -€21,039 | -96.9% |
| Taxes | 450/3 | €21,706 | €667 | -€21,039 | -96.9% |
| Other amounts payable | 47/48 | €2,419 | €8,510 | +€6,090 | +252% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,005 | €824 | -€181 | -18.0% |
| Other operating charges | 640/8 | €1,238 | €884 | -€354 | -28.6% |
| Gross operating margin | 9900 | €66,463 | €17,560 | -€48,903 | -73.6% |
| Operating profit (loss) | 9901 | €64,220 | €15,852 | -€48,367 | -75.3% |
| Financial income | 75/76B | €355 | - | -€355 | |
| Recurring financial income | 75 | €355 | - | -€355 | |
| Financial charges | 65/66B | €7,495 | €6,430 | -€1,065 | -14.2% |
| Recurring financial charges | 65 | €7,495 | €6,430 | -€1,065 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | €57,080 | €9,422 | -€47,658 | -83.5% |
| Income taxes | 67/77 | €17,167 | €3,321 | -€13,846 | -80.7% |
| Profit (loss) for the period | 9904 | €39,913 | €6,102 | -€33,811 | -84.7% |
| Profit (loss) for the period to be appropriated | 9905 | €39,913 | €6,102 | -€33,811 | -84.7% |
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 18 October 2026 via checked.be.