DAVID NIVARLET: 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 NIVARLET
Largest movements
- Receivables within one year +€143,403
up €143,403 (+94.0%), from €152,478 to €295,880
of which Trade receivables: +€99,200
- Tangible fixed assets +€44,624
up €44,624 (+38.3%), from €116,368 to €160,991
of which Furniture and vehicles: +€52,150
- Cash -€6,584
down €6,584 (-14.0%), from €47,048 to €40,464
mainly Contributions, distributions and other (-€358,849) and Receivables within one year (-€143,403)
- Other debts +€149,948
up €149,948 (+457%), from €32,780 to €182,727
- Reserves -€117,647
down €117,647 (-55.4%), from €212,379 to €94,732
of which Distributable reserves: -€117,647
- Tax, wage and social debts +€72,042
up €72,042 (+6,877%), from €1,048 to €73,090
- Debts after one year +€53,276
up €53,276 (+57.7%), from €92,329 to €145,604
- Short-term financial debts +€29,915
up €29,915 (+598%), from €5,000 to €34,915
- Gross operating margin +€223,459
up €223,459 (+260%), from €85,870 to €309,329
- Taxes +€55,909
up €55,909 (+291%), from €19,230 to €75,139
- Financial income +€33,029
up €33,029, from €0 to €33,029
- Depreciation +€9,537
up €9,537 (+100%), from €9,526 to €19,063
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €368,614 | €550,066 | +€181,453 | +49.2% |
| Fixed assets | 21/28 | €128,768 | €173,391 | +€44,624 | +34.7% |
| Tangible fixed assets | 22/27 | €116,368 | €160,991 | +€44,624 | +38.3% |
| Land and buildings | 22 | €115,376 | €107,849 | -€7,526 | -6.5% |
| Furniture and vehicles | 24 | €992 | €53,142 | +€52,150 | +5,258% |
| Financial fixed assets | 28 | €12,400 | €12,400 | = | 0.0% |
| Current assets | 29/58 | €239,846 | €376,675 | +€136,829 | +57.0% |
| Amounts receivable within one year | 40/41 | €152,478 | €295,880 | +€143,403 | +94.0% |
| Trade receivables | 40 | €0 | €99,200 | +€99,200 | |
| Other amounts receivable | 41 | €152,478 | €196,680 | +€44,203 | +29.0% |
| Current investments | 50/53 | €40,000 | €40,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €47,048 | €40,464 | -€6,584 | -14.0% |
| Deferred charges and accrued income | 490/1 | €320 | €330 | +€11 | +3.3% |
| Total equity and liabilities | 10/49 | €368,614 | €550,066 | +€181,453 | +49.2% |
| Equity | 10/15 | €230,979 | €113,332 | -€117,647 | -50.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €212,379 | €94,732 | -€117,647 | -55.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €210,519 | €92,872 | -€117,647 | -55.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €137,635 | €436,734 | +€299,100 | +217% |
| Amounts payable after more than one year | 17 | €92,329 | €145,604 | +€53,276 | +57.7% |
| Financial debts | 170/4 | €92,329 | €145,604 | +€53,276 | +57.7% |
| Amounts payable within one year | 42/48 | €45,154 | €290,906 | +€245,752 | +544% |
| Current portion of amounts payable after more than one year | 42 | €5,059 | €0 | -€5,059 | -100% |
| Financial debts | 43 | €5,000 | €34,915 | +€29,915 | +598% |
| Credit institutions | 430/8 | €5,000 | €34,915 | +€29,915 | +598% |
| Trade debts | 44 | €1,267 | €174 | -€1,093 | -86.3% |
| Suppliers | 440/4 | €1,267 | €174 | -€1,093 | -86.3% |
| Taxes, remuneration and social security | 45 | €1,048 | €73,090 | +€72,042 | +6,877% |
| Taxes | 450/3 | €1,048 | €73,090 | +€72,042 | +6,877% |
| Other amounts payable | 47/48 | €32,780 | €182,727 | +€149,948 | +457% |
| Accrued charges and deferred income | 492/3 | €152 | €224 | +€72 | +47.4% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,526 | €19,063 | +€9,537 | +100% |
| Other operating charges | 640/8 | €624 | €3,127 | +€2,503 | +401% |
| Gross operating margin | 9900 | €85,870 | €309,329 | +€223,459 | +260% |
| Operating profit (loss) | 9901 | €75,720 | €287,140 | +€211,420 | +279% |
| Financial income | 75/76B | €0 | €33,029 | +€33,029 | |
| Recurring financial income | 75 | €0 | €33,029 | +€33,029 | |
| Financial charges | 65/66B | €2,629 | €3,828 | +€1,199 | +45.6% |
| Recurring financial charges | 65 | €2,629 | €3,828 | +€1,199 | +45.6% |
| Profit (loss) for the period before taxes | 9903 | €73,091 | €316,341 | +€243,250 | +333% |
| Income taxes | 67/77 | €19,230 | €75,139 | +€55,909 | +291% |
| Profit (loss) for the period | 9904 | €53,861 | €241,202 | +€187,341 | +348% |
| Profit (loss) for the period to be appropriated | 9905 | €53,861 | €241,202 | +€187,341 | +348% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.