Davy D: what changed
Davy D
Largest movements
- Stocks and contracts +€12,500
new in 2026: €12,500
- Cash +€12,103
up €12,103 (+55.2%), from €21,942 to €34,046
mainly Net result for the year (+€40,598) and Depreciation (+€12,313)
- Receivables within one year -€12,005
down €12,005 (-52.2%), from €23,002 to €10,997
of which Trade receivables: -€9,604
- Tangible fixed assets +€11,842
up €11,842 (+33.8%), from €35,037 to €46,879
of which Furniture and vehicles: +€11,869
- Deferred charges and accrued income -€1,835
down €1,835 (-42.5%), from €4,318 to €2,482
- Reserves +€22,598
up €22,598 (+47.1%), from €48,022 to €70,620
- Trade debts +€7,891
up €7,891 (+108%), from €7,335 to €15,225
- Debts after one year -€5,249
down €5,249 (-44.5%), from €11,805 to €6,556
- Tax, wage and social debts -€2,411
down €2,411 (-100%), from €2,411 to €0
- Gross operating margin +€23,916
up €23,916 (+56.4%), from €42,437 to €66,353
- Depreciation +€2,825
up €2,825 (+29.8%), from €9,487 to €12,313
- Other operating charges +€1,882
up €1,882 (+140%), from €1,349 to €3,231
- Taxes +€1,464
up €1,464 (+18.5%), from €7,911 to €9,375
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €84,299 | €106,904 | +€22,606 | +26.8% |
| Fixed assets | 21/28 | €35,037 | €46,879 | +€11,842 | +33.8% |
| Tangible fixed assets | 22/27 | €35,037 | €46,879 | +€11,842 | +33.8% |
| Plant, machinery and equipment | 23 | €1,971 | €2,605 | +€635 | +32.2% |
| Furniture and vehicles | 24 | €29,296 | €41,165 | +€11,869 | +40.5% |
| Other tangible fixed assets | 26 | €3,771 | €3,109 | -€662 | -17.5% |
| Current assets | 29/58 | €49,262 | €60,025 | +€10,763 | +21.8% |
| Stocks and contracts in progress | 3 | - | €12,500 | +€12,500 | |
| Stocks | 30/36 | - | €12,500 | +€12,500 | |
| Amounts receivable within one year | 40/41 | €23,002 | €10,997 | -€12,005 | -52.2% |
| Trade receivables | 40 | €15,945 | €6,341 | -€9,604 | -60.2% |
| Other amounts receivable | 41 | €7,056 | €4,656 | -€2,400 | -34.0% |
| Cash at bank and in hand | 54/58 | €21,942 | €34,046 | +€12,103 | +55.2% |
| Deferred charges and accrued income | 490/1 | €4,318 | €2,482 | -€1,835 | -42.5% |
| Total equity and liabilities | 10/49 | €84,299 | €106,904 | +€22,606 | +26.8% |
| Equity | 10/15 | €50,522 | €73,120 | +€22,598 | +44.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €48,022 | €70,620 | +€22,598 | +47.1% |
| Distributable reserves | 133 | €48,022 | €70,620 | +€22,598 | +47.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €33,777 | €33,784 | +€8 | 0.0% |
| Amounts payable after more than one year | 17 | €11,805 | €6,556 | -€5,249 | -44.5% |
| Financial debts | 170/4 | €11,805 | €6,556 | -€5,249 | -44.5% |
| Amounts payable within one year | 42/48 | €21,972 | €27,228 | +€5,256 | +23.9% |
| Current portion of amounts payable after more than one year | 42 | €4,928 | €5,249 | +€320 | +6.5% |
| Trade debts | 44 | €7,335 | €15,225 | +€7,891 | +108% |
| Suppliers | 440/4 | €7,335 | €15,225 | +€7,891 | +108% |
| Taxes, remuneration and social security | 45 | €2,411 | €0 | -€2,411 | -100% |
| Taxes | 450/3 | €2,411 | €0 | -€2,411 | -100% |
| Other amounts payable | 47/48 | €7,298 | €6,754 | -€544 | -7.4% |
| Non-recurring operating income | 76A | - | €3,840 | +€3,840 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,487 | €12,313 | +€2,825 | +29.8% |
| Other operating charges | 640/8 | €1,349 | €3,231 | +€1,882 | +140% |
| Gross operating margin | 9900 | €42,437 | €66,353 | +€23,916 | +56.4% |
| Operating profit (loss) | 9901 | €31,601 | €50,809 | +€19,208 | +60.8% |
| Financial income | 75/76B | €47 | €199 | +€152 | +327% |
| Recurring financial income | 75 | €47 | €199 | +€152 | +327% |
| Financial charges | 65/66B | €1,320 | €1,035 | -€285 | -21.6% |
| Recurring financial charges | 65 | €1,320 | €1,035 | -€285 | -21.6% |
| Profit (loss) for the period before taxes | 9903 | €30,328 | €49,973 | +€19,646 | +64.8% |
| Income taxes | 67/77 | €7,911 | €9,375 | +€1,464 | +18.5% |
| Profit (loss) for the period | 9904 | €22,416 | €40,598 | +€18,182 | +81.1% |
| Profit (loss) for the period to be appropriated | 9905 | €22,416 | €40,598 | +€18,182 | +81.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.