Davy Collin: 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.
Davy Collin
Largest movements
- Receivables after one year -€51,891
down €51,891 (-100.0%), from €51,891 to €0
- Receivables within one year -€34,746
down €34,746 (-68.3%), from €50,887 to €16,141
of which Other amounts receivable: -€34,746
- Cash +€14,109
up €14,109 (+29.7%), from €47,533 to €61,642
mainly Net result for the year (+€53,457) and Receivables after one year (+€51,891)
- Tangible fixed assets -€2,652
down €2,652 (-25.8%), from €10,272 to €7,620
of which Furniture and vehicles: -€1,629
- Reserves -€118,330
down €118,330 (-87.8%), from €134,787 to €16,457
- Other debts +€38,378
new in 2025: €38,378
- Tax, wage and social debts +€4,686
up €4,686 (+51.4%), from €9,116 to €13,801
of which Taxes: +€4,686
- Gross operating margin +€7,190
up €7,190 (+11.0%), from €65,247 to €72,437
- Financial income -€3,544
down €3,544 (-100.0%), from €3,544 to €0
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 | €160,582 | €86,308 | -€74,274 | -46.3% |
| Fixed assets | 21/28 | €10,272 | €7,620 | -€2,652 | -25.8% |
| Tangible fixed assets | 22/27 | €10,272 | €7,620 | -€2,652 | -25.8% |
| Land and buildings | 22 | €7,553 | €6,531 | -€1,023 | -13.5% |
| Furniture and vehicles | 24 | €2,718 | €1,089 | -€1,629 | -59.9% |
| Current assets | 29/58 | €150,311 | €78,688 | -€71,623 | -47.6% |
| Amounts receivable after more than one year | 29 | €51,891 | €0 | -€51,891 | -100.0% |
| Other amounts receivable | 291 | €51,891 | €0 | -€51,891 | -100.0% |
| Amounts receivable within one year | 40/41 | €50,887 | €16,141 | -€34,746 | -68.3% |
| Trade receivables | 40 | €15,125 | €15,125 | = | 0.0% |
| Other amounts receivable | 41 | €35,762 | €1,016 | -€34,746 | -97.2% |
| Cash at bank and in hand | 54/58 | €47,533 | €61,642 | +€14,109 | +29.7% |
| Deferred charges and accrued income | 490/1 | €0 | €906 | +€906 | |
| Total equity and liabilities | 10/49 | €160,582 | €86,308 | -€74,274 | -46.3% |
| Equity | 10/15 | €149,787 | €31,457 | -€118,330 | -79.0% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €134,787 | €16,457 | -€118,330 | -87.8% |
| Distributable reserves | 133 | €134,787 | €16,457 | -€118,330 | -87.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €10,796 | €54,851 | +€44,055 | +408.1% |
| Amounts payable within one year | 42/48 | €10,796 | €53,743 | +€42,947 | +397.8% |
| Trade debts | 44 | €1,680 | €1,563 | -€117 | -7.0% |
| Suppliers | 440/4 | €1,680 | €1,563 | -€117 | -7.0% |
| Taxes, remuneration and social security | 45 | €9,116 | €13,801 | +€4,686 | +51.4% |
| Taxes | 450/3 | €9,116 | €13,801 | +€4,686 | +51.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | - | €38,378 | +€38,378 | |
| Accrued charges and deferred income | 492/3 | - | €1,109 | +€1,109 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,312 | €2,652 | -€661 | -19.9% |
| Other operating charges | 640/8 | €1,289 | €1,069 | -€220 | -17.1% |
| Gross operating margin | 9900 | €65,247 | €72,437 | +€7,190 | +11.0% |
| Operating profit (loss) | 9901 | €60,646 | €68,717 | +€8,071 | +13.3% |
| Financial income | 75/76B | €3,544 | €0 | -€3,544 | -100.0% |
| Recurring financial income | 75 | €3,544 | €0 | -€3,544 | -100.0% |
| Financial charges | 65/66B | €703 | €819 | +€116 | +16.5% |
| Recurring financial charges | 65 | €703 | €819 | +€116 | +16.5% |
| Profit (loss) for the period before taxes | 9903 | €63,487 | €67,898 | +€4,411 | +6.9% |
| Income taxes | 67/77 | €14,586 | €14,441 | -€145 | -1.0% |
| Profit (loss) for the period | 9904 | €48,900 | €53,457 | +€4,557 | +9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €48,900 | €53,457 | +€4,557 | +9.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.