DAVOS & CM CONSULT: 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.
DAVOS & CM CONSULT
Largest movements
- Receivables within one year -€6,575
down €6,575 (-12.2%), from €53,899 to €47,324
of which Trade receivables: -€4,395
- Tangible fixed assets +€3,664
up €3,664 (+517.1%), from €709 to €4,373
- Other debts -€9,265
down €9,265 (-11.4%), from €81,155 to €71,890
- Profit (loss) carried forward +€6,701
up €6,701 (+339.8%), from €1,972 to €8,673
- Debts after one year +€3,284
new in 2025: €3,284
- Gross operating margin +€4,620
up €4,620 (+5.4%), from €86,348 to €90,968
- Taxes +€1,531
up €1,531 (+110.9%), from €1,380 to €2,911
- Other operating charges -€1,166
down €1,166 (-69.2%), from €1,686 to €519
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 | €156,280 | €155,338 | -€942 | -0.6% |
| Fixed assets | 21/28 | €95,709 | €99,373 | +€3,664 | +3.8% |
| Tangible fixed assets | 22/27 | €709 | €4,373 | +€3,664 | +517.1% |
| Furniture and vehicles | 24 | €709 | €4,373 | +€3,664 | +517.1% |
| Financial fixed assets | 28 | €95,000 | €95,000 | = | 0.0% |
| Current assets | 29/58 | €60,572 | €55,965 | -€4,607 | -7.6% |
| Amounts receivable within one year | 40/41 | €53,899 | €47,324 | -€6,575 | -12.2% |
| Trade receivables | 40 | €16,890 | €12,495 | -€4,395 | -26.0% |
| Other amounts receivable | 41 | €37,009 | €34,829 | -€2,180 | -5.9% |
| Cash at bank and in hand | 54/58 | €6,382 | €7,316 | +€935 | +14.6% |
| Deferred charges and accrued income | 490/1 | €291 | €1,324 | +€1,033 | +355.5% |
| Total equity and liabilities | 10/49 | €156,280 | €155,338 | -€942 | -0.6% |
| Equity | 10/15 | €52,232 | €58,933 | +€6,701 | +12.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €37,860 | €37,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €36,000 | €37,860 | +€1,860 | +5.2% |
| Profit (loss) carried forward | 14 | €1,972 | €8,673 | +€6,701 | +339.8% |
| Amounts payable | 17/49 | €104,048 | €96,405 | -€7,644 | -7.3% |
| Amounts payable after more than one year | 17 | - | €3,284 | +€3,284 | |
| Financial debts | 170/4 | - | €3,284 | +€3,284 | |
| Amounts payable within one year | 42/48 | €104,048 | €93,121 | -€10,927 | -10.5% |
| Current portion of amounts payable after more than one year | 42 | €21,387 | €21,106 | -€281 | -1.3% |
| Trade debts | 44 | €127 | €0 | -€127 | -100.0% |
| Suppliers | 440/4 | €127 | €0 | -€127 | -100.0% |
| Taxes, remuneration and social security | 45 | €1,380 | €126 | -€1,254 | -90.9% |
| Taxes | 450/3 | €1,380 | €126 | -€1,254 | -90.9% |
| Other amounts payable | 47/48 | €81,155 | €71,890 | -€9,265 | -11.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,069 | €668 | -€401 | -37.5% |
| Other operating charges | 640/8 | €1,686 | €519 | -€1,166 | -69.2% |
| Gross operating margin | 9900 | €86,348 | €90,968 | +€4,620 | +5.4% |
| Operating profit (loss) | 9901 | €83,593 | €89,781 | +€6,188 | +7.4% |
| Financial charges | 65/66B | €510 | €169 | -€340 | -66.8% |
| Recurring financial charges | 65 | €510 | €169 | -€340 | -66.8% |
| Profit (loss) for the period before taxes | 9903 | €83,084 | €89,612 | +€6,528 | +7.9% |
| Income taxes | 67/77 | €1,380 | €2,911 | +€1,531 | +110.9% |
| Profit (loss) for the period | 9904 | €81,704 | €86,701 | +€4,997 | +6.1% |
| Profit (loss) for the period to be appropriated | 9905 | €81,704 | €86,701 | +€4,997 | +6.1% |
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 10 October 2026 via checked.be.