DaVinci Advisory: 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.
DaVinci Advisory
Largest movements
- Cash -€366,587
down €366,587 (-74.1%), from €494,552 to €127,965
mainly Short-term financial debts (-€1.4m) and Contributions, distributions and other (-€500,000)
- Receivables within one year -€165,245
down €165,245 (-31.0%), from €533,859 to €368,614
of which Other amounts receivable: -€125,754
- Financial fixed assets +€142,740
up €142,740 (+4846.9%), from €2,945 to €145,685
- Tangible fixed assets +€88,288
up €88,288 (+1.8%), from €4.9m to €5.0m
of which Furniture and vehicles: +€123,031
- Short-term financial debts -€1.4m
down €1.4m (-88.9%), from €1.6m to €175,000
- Debts after one year +€1.2m
up €1.2m (+59.5%), from €2.0m to €3.2m
- Other debts -€125,224
down €125,224 (-19.6%), from €638,022 to €512,798
- Current portion of long-term debt +€104,525
up €104,525 (+81.1%), from €128,880 to €233,405
- Reserves -€66,471
down €66,471 (-4.3%), from €1.5m to €1.5m
- Gross operating margin -€116,092
down €116,092 (-27.1%), from €428,127 to €312,036
- Other operating charges -€61,955
down €61,955 (-82.0%), from €75,533 to €13,578
- Financial charges -€47,751
down €47,751 (-31.3%), from €152,483 to €104,733
- Financial income +€41,355
up €41,355 (+9.4%), from €441,976 to €483,331
of which Financial income: +€229,186
- Depreciation +€39,198
up €39,198 (+25.6%), from €153,286 to €192,484
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,978,676 | €5,722,661 | -€256,015 | -4.3% |
| Fixed assets | 21/28 | €4,934,175 | €5,165,203 | +€231,028 | +4.7% |
| Tangible fixed assets | 22/27 | €4,931,230 | €5,019,518 | +€88,288 | +1.8% |
| Land and buildings | 22 | €4,450,874 | €4,359,786 | -€91,088 | -2.0% |
| Plant, machinery and equipment | 23 | €260,173 | €322,117 | +€61,944 | +23.8% |
| Furniture and vehicles | 24 | €210,580 | €333,611 | +€123,031 | +58.4% |
| Assets under construction and advance payments | 27 | €9,603 | €4,003 | -€5,600 | -58.3% |
| Financial fixed assets | 28 | €2,945 | €145,685 | +€142,740 | +4846.9% |
| Current assets | 29/58 | €1,044,501 | €557,458 | -€487,043 | -46.6% |
| Amounts receivable within one year | 40/41 | €533,859 | €368,614 | -€165,245 | -31.0% |
| Trade receivables | 40 | €57,709 | €18,217 | -€39,491 | -68.4% |
| Other amounts receivable | 41 | €476,151 | €350,397 | -€125,754 | -26.4% |
| Cash at bank and in hand | 54/58 | €494,552 | €127,965 | -€366,587 | -74.1% |
| Deferred charges and accrued income | 490/1 | €16,089 | €60,879 | +€44,789 | +278.4% |
| Total equity and liabilities | 10/49 | €5,978,676 | €5,722,661 | -€256,015 | -4.3% |
| Equity | 10/15 | €1,549,542 | €1,483,071 | -€66,471 | -4.3% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €1,530,992 | €1,464,521 | -€66,471 | -4.3% |
| Distributable reserves | 133 | €1,530,992 | €1,464,521 | -€66,471 | -4.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €4,429,134 | €4,239,589 | -€189,545 | -4.3% |
| Amounts payable after more than one year | 17 | €2,034,828 | €3,246,006 | +€1.2m | +59.5% |
| Financial debts | 170/4 | €2,034,828 | €3,246,006 | +€1.2m | +59.5% |
| Amounts payable within one year | 42/48 | €2,376,299 | €993,583 | -€1.4m | -58.2% |
| Current portion of amounts payable after more than one year | 42 | €128,880 | €233,405 | +€104,525 | +81.1% |
| Financial debts | 43 | €1,575,000 | €175,000 | -€1.4m | -88.9% |
| Credit institutions | 430/8 | €1,575,000 | €175,000 | -€1.4m | -88.9% |
| Trade debts | 44 | €24,112 | €57,991 | +€33,879 | +140.5% |
| Suppliers | 440/4 | €24,112 | €57,991 | +€33,879 | +140.5% |
| Taxes, remuneration and social security | 45 | €10,284 | €14,388 | +€4,104 | +39.9% |
| Taxes | 450/3 | €4,196 | €8,103 | +€3,907 | +93.1% |
| Remuneration and social security | 454/9 | €6,088 | €6,285 | +€197 | +3.2% |
| Other amounts payable | 47/48 | €638,022 | €512,798 | -€125,224 | -19.6% |
| Accrued charges and deferred income | 492/3 | €18,007 | €0 | -€18,007 | -100.0% |
| Non-recurring operating income | 76A | €13,559 | €0 | -€13,559 | -100.0% |
| Remuneration, social security and pensions | 62 | €43,444 | €48,035 | +€4,591 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €153,286 | €192,484 | +€39,198 | +25.6% |
| Other operating charges | 640/8 | €75,533 | €13,578 | -€61,955 | -82.0% |
| Non-recurring operating charges | 66A | €0 | €2,060 | +€2,060 | |
| Gross operating margin | 9900 | €428,127 | €312,036 | -€116,092 | -27.1% |
| Operating profit (loss) | 9901 | €155,864 | €55,878 | -€99,985 | -64.1% |
| Financial income | 75/76B | €441,976 | €483,331 | +€41,355 | +9.4% |
| Recurring financial income | 75 | €254,145 | €483,331 | +€229,186 | +90.2% |
| Non-recurring financial income | 76B | €187,831 | €0 | -€187,831 | -100.0% |
| Financial charges | 65/66B | €152,483 | €104,733 | -€47,751 | -31.3% |
| Recurring financial charges | 65 | €152,483 | €104,733 | -€47,751 | -31.3% |
| Profit (loss) for the period before taxes | 9903 | €445,356 | €434,476 | -€10,880 | -2.4% |
| Income taxes | 67/77 | €9,403 | €947 | -€8,456 | -89.9% |
| Profit (loss) for the period | 9904 | €435,953 | €433,529 | -€2,424 | -0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €435,953 | €433,529 | -€2,424 | -0.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.