DAVTOF: 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.
DAVTOF
Largest movements
- Tangible fixed assets +€77,660
up €77,660 (+23.2%), from €335,420 to €413,080
of which Land and buildings: +€76,882
- Cash -€29,222
down €29,222 (-86.2%), from €33,897 to €4,675
mainly Investment in fixed assets (net) (-€108,646) and Receivables within one year (-€27,532)
- Receivables within one year +€27,532
up €27,532 (+122.6%), from €22,459 to €49,991
of which Trade receivables: +€20,900
- Reserves +€34,241
up €34,241 (+26.3%), from €130,439 to €164,681
- Debts after one year +€32,733
up €32,733 (+11.3%), from €288,706 to €321,440
- Tax, wage and social debts +€14,920
up €14,920 (+122.8%), from €12,152 to €27,072
- Depreciation +€15,136
up €15,136 (+95.5%), from €15,849 to €30,986
- Financial charges +€13,361
up €13,361 (+145.6%), from €9,178 to €22,539
- Gross operating margin +€10,278
up €10,278 (+12.3%), from €83,852 to €94,130
- Financial income +€10,208
up €10,208 (+58799.8%), from €17 to €10,225
of which Non-recurring financial income: +€10,194
- Other operating charges +€2,017
up €2,017 (+136.6%), from €1,477 to €3,494
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 | €479,535 | €559,084 | +€79,549 | +16.6% |
| Fixed assets | 21/28 | €335,420 | €413,080 | +€77,660 | +23.2% |
| Tangible fixed assets | 22/27 | €335,420 | €413,080 | +€77,660 | +23.2% |
| Land and buildings | 22 | €172,633 | €249,515 | +€76,882 | +44.5% |
| Plant, machinery and equipment | 23 | €10,936 | €24,116 | +€13,180 | +120.5% |
| Furniture and vehicles | 24 | €14,942 | €11,290 | -€3,652 | -24.4% |
| Leasing and similar rights | 25 | €6,654 | €4,426 | -€2,228 | -33.5% |
| Other tangible fixed assets | 26 | €130,256 | €123,734 | -€6,522 | -5.0% |
| Current assets | 29/58 | €144,114 | €146,004 | +€1,889 | +1.3% |
| Amounts receivable after more than one year | 29 | €42,500 | €42,500 | = | 0.0% |
| Other amounts receivable | 291 | €42,500 | €42,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €22,459 | €49,991 | +€27,532 | +122.6% |
| Trade receivables | 40 | €19,542 | €40,441 | +€20,900 | +107.0% |
| Other amounts receivable | 41 | €2,918 | €9,550 | +€6,632 | +227.3% |
| Current investments | 50/53 | €41,000 | €44,000 | +€3,000 | +7.3% |
| Cash at bank and in hand | 54/58 | €33,897 | €4,675 | -€29,222 | -86.2% |
| Deferred charges and accrued income | 490/1 | €4,258 | €4,837 | +€579 | +13.6% |
| Total equity and liabilities | 10/49 | €479,535 | €559,084 | +€79,549 | +16.6% |
| Equity | 10/15 | €135,439 | €169,681 | +€34,241 | +25.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €130,439 | €164,681 | +€34,241 | +26.3% |
| Distributable reserves | 133 | €130,439 | €164,681 | +€34,241 | +26.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €344,095 | €389,404 | +€45,308 | +13.2% |
| Amounts payable after more than one year | 17 | €288,706 | €321,440 | +€32,733 | +11.3% |
| Financial debts | 170/4 | €288,706 | €321,440 | +€32,733 | +11.3% |
| Amounts payable within one year | 42/48 | €55,389 | €67,810 | +€12,421 | +22.4% |
| Current portion of amounts payable after more than one year | 42 | €21,743 | €23,450 | +€1,707 | +7.9% |
| Financial debts | 43 | €8,832 | €12,530 | +€3,698 | +41.9% |
| Credit institutions | 430/8 | €8,832 | €12,530 | +€3,698 | +41.9% |
| Trade debts | 44 | €10,127 | €4,758 | -€5,369 | -53.0% |
| Suppliers | 440/4 | €10,127 | €4,758 | -€5,369 | -53.0% |
| Taxes, remuneration and social security | 45 | €12,152 | €27,072 | +€14,920 | +122.8% |
| Taxes | 450/3 | €12,152 | €27,072 | +€14,920 | +122.8% |
| Other amounts payable | 47/48 | €2,535 | €0 | -€2,535 | -100.0% |
| Accrued charges and deferred income | 492/3 | €0 | €154 | +€154 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,849 | €30,986 | +€15,136 | +95.5% |
| Other operating charges | 640/8 | €1,477 | €3,494 | +€2,017 | +136.6% |
| Gross operating margin | 9900 | €83,852 | €94,130 | +€10,278 | +12.3% |
| Operating profit (loss) | 9901 | €66,526 | €59,650 | -€6,875 | -10.3% |
| Financial income | 75/76B | €17 | €10,225 | +€10,208 | +58799.8% |
| Recurring financial income | 75 | €17 | €31 | +€14 | +80.0% |
| Non-recurring financial income | 76B | - | €10,194 | +€10,194 | |
| Financial charges | 65/66B | €9,178 | €22,539 | +€13,361 | +145.6% |
| Recurring financial charges | 65 | €9,178 | €22,539 | +€13,361 | +145.6% |
| Profit (loss) for the period before taxes | 9903 | €57,366 | €47,337 | -€10,029 | -17.5% |
| Income taxes | 67/77 | €12,082 | €13,096 | +€1,013 | +8.4% |
| Profit (loss) for the period | 9904 | €45,283 | €34,241 | -€11,042 | -24.4% |
| Profit (loss) for the period to be appropriated | 9905 | €45,283 | €34,241 | -€11,042 | -24.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.