DAVIDSON BELGIUM: 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.
DAVIDSON BELGIUM
Largest movements
- Cash -€465,444
down €465,444 (-66.1%), from €704,175 to €238,730
mainly Trade debts (-€250,348) and Tax, wage and social debts (-€217,431)
- Receivables within one year -€192,092
down €192,092 (-17.7%), from €1.1m to €892,137
of which Trade receivables: -€281,746
- Trade debts -€250,348
down €250,348 (-23.5%), from €1.1m to €815,415
- Tax, wage and social debts -€217,431
down €217,431 (-38.6%), from €563,262 to €345,831
of which Taxes: -€146,708
- Profit (loss) carried forward -€160,963
down €160,963, from €98,471 to -€62,492
- Other debts -€28,808
down €28,808 (-100%), from €28,808 to €0
- Staff costs -€379,153
down €379,153 (-10.6%), from €3.6m to €3.2m
- Gross operating margin -€368,581
down €368,581 (-10.6%), from €3.5m to €3.1m
- Write-downs -€94,065
down €94,065, from €0 to -€94,065
- Other operating charges +€72,213
up €72,213 (+236%), from €30,636 to €102,849
- Taxes -€52,852
down €52,852 (-85.5%), from €61,848 to €8,996
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 | €1,800,303 | €1,142,754 | -€657,550 | -36.5% |
| Fixed assets | 21/28 | €11,900 | €7,795 | -€4,104 | -34.5% |
| Tangible fixed assets | 22/27 | €5,662 | €470 | -€5,192 | -91.7% |
| Plant, machinery and equipment | 23 | €5,662 | €470 | -€5,192 | -91.7% |
| Financial fixed assets | 28 | €6,238 | €7,325 | +€1,087 | +17.4% |
| Current assets | 29/58 | €1,788,404 | €1,134,958 | -€653,445 | -36.5% |
| Amounts receivable within one year | 40/41 | €1,084,229 | €892,137 | -€192,092 | -17.7% |
| Trade receivables | 40 | €1,046,129 | €764,383 | -€281,746 | -26.9% |
| Other amounts receivable | 41 | €38,100 | €127,754 | +€89,654 | +235% |
| Cash at bank and in hand | 54/58 | €704,175 | €238,730 | -€465,444 | -66.1% |
| Deferred charges and accrued income | 490/1 | - | €4,091 | +€4,091 | |
| Total equity and liabilities | 10/49 | €1,800,303 | €1,142,754 | -€657,550 | -36.5% |
| Equity | 10/15 | €142,471 | -€18,492 | -€160,963 | |
| Contributions | 10/11 | €44,000 | €44,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €98,471 | -€62,492 | -€160,963 | |
| Amounts payable | 17/49 | €1,657,833 | €1,161,246 | -€496,587 | -30.0% |
| Amounts payable within one year | 42/48 | €1,657,833 | €1,161,246 | -€496,587 | -30.0% |
| Trade debts | 44 | €1,065,763 | €815,415 | -€250,348 | -23.5% |
| Suppliers | 440/4 | €1,065,763 | €815,415 | -€250,348 | -23.5% |
| Taxes, remuneration and social security | 45 | €563,262 | €345,831 | -€217,431 | -38.6% |
| Taxes | 450/3 | €220,538 | €73,831 | -€146,708 | -66.5% |
| Remuneration and social security | 454/9 | €342,723 | €272,000 | -€70,723 | -20.6% |
| Other amounts payable | 47/48 | €28,808 | €0 | -€28,808 | -100% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €400 | +€400 | |
| Remuneration, social security and pensions | 62 | €3,560,236 | €3,181,083 | -€379,153 | -10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,705 | €1,366 | -€2,338 | -63.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€94,065 | -€94,065 | |
| Other operating charges | 640/8 | €30,636 | €102,849 | +€72,213 | +236% |
| Gross operating margin | 9900 | €3,477,940 | €3,109,359 | -€368,581 | -10.6% |
| Operating profit (loss) | 9901 | -€116,636 | -€81,875 | +€34,761 | +29.8% |
| Financial income | 75/76B | €9 | €52 | +€42 | +458% |
| Recurring financial income | 75 | €9 | €52 | +€42 | +458% |
| Financial charges | 65/66B | €59,948 | €70,144 | +€10,196 | +17.0% |
| Recurring financial charges | 65 | €59,948 | €70,144 | +€10,196 | +17.0% |
| Profit (loss) for the period before taxes | 9903 | -€176,574 | -€151,967 | +€24,607 | +13.9% |
| Income taxes | 67/77 | €61,848 | €8,996 | -€52,852 | -85.5% |
| Profit (loss) for the period | 9904 | -€238,422 | -€160,963 | +€77,459 | +32.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€238,422 | -€160,963 | +€77,459 | +32.5% |
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 25 October 2026 via checked.be.