DAVY VAN GOETHEM: 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.
DAVY VAN GOETHEM
Largest movements
- Tangible fixed assets -€36,508
down €36,508 (-55.4%), from €65,909 to €29,401
- Current investments +€21,069
new in 2025: €21,069
- Cash -€4,905
down €4,905 (-18.4%), from €26,623 to €21,718
mainly Other debts (-€52,345) and Current investments (-€21,069)
- Receivables within one year +€4,524
up €4,524 (+17.3%), from €26,122 to €30,646
of which Trade receivables: +€6,525
- Other debts -€52,345
down €52,345 (-98.3%), from €53,230 to €886
- Profit (loss) carried forward +€40,511
up €40,511 (+370%), from €10,962 to €51,473
- Trade debts -€17,590
down €17,590 (-88.1%), from €19,956 to €2,365
- Debts after one year +€6,882
new in 2025: €6,882
- Current portion of long-term debt +€6,664
new in 2025: €6,664
- Depreciation -€6,965
down €6,965 (-47.0%), from €14,830 to €7,865
- Gross operating margin +€4,499
up €4,499 (+6.0%), from €74,606 to €79,105
- Financial income -€4,330
down €4,330 (-97.8%), from €4,429 to €98
- Financial charges -€1,892
down €1,892 (-76.2%), from €2,484 to €592
- Taxes +€1,073
up €1,073 (+8.9%), from €12,041 to €13,113
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.
Derived cash bridge
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 | €123,123 | €106,355 | -€16,768 | -13.6% |
| Fixed assets | 21/28 | €65,909 | €29,401 | -€36,508 | -55.4% |
| Tangible fixed assets | 22/27 | €65,909 | €29,401 | -€36,508 | -55.4% |
| Furniture and vehicles | 24 | €65,909 | €29,401 | -€36,508 | -55.4% |
| Current assets | 29/58 | €57,214 | €76,954 | +€19,740 | +34.5% |
| Amounts receivable within one year | 40/41 | €26,122 | €30,646 | +€4,524 | +17.3% |
| Trade receivables | 40 | €22,205 | €28,730 | +€6,525 | +29.4% |
| Other amounts receivable | 41 | €3,917 | €1,916 | -€2,001 | -51.1% |
| Current investments | 50/53 | - | €21,069 | +€21,069 | |
| Cash at bank and in hand | 54/58 | €26,623 | €21,718 | -€4,905 | -18.4% |
| Deferred charges and accrued income | 490/1 | €4,468 | €3,521 | -€947 | -21.2% |
| Total equity and liabilities | 10/49 | €123,123 | €106,355 | -€16,768 | -13.6% |
| Equity | 10/15 | €43,916 | €84,427 | +€40,511 | +92.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €14,354 | €14,354 | = | 0.0% |
| Distributable reserves | 133 | €14,354 | €14,354 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,962 | €51,473 | +€40,511 | +370% |
| Amounts payable | 17/49 | €79,208 | €21,928 | -€57,279 | -72.3% |
| Amounts payable after more than one year | 17 | - | €6,882 | +€6,882 | |
| Financial debts | 170/4 | - | €6,882 | +€6,882 | |
| Amounts payable within one year | 42/48 | €76,838 | €14,942 | -€61,895 | -80.6% |
| Current portion of amounts payable after more than one year | 42 | - | €6,664 | +€6,664 | |
| Trade debts | 44 | €19,956 | €2,365 | -€17,590 | -88.1% |
| Suppliers | 440/4 | €19,956 | €2,365 | -€17,590 | -88.1% |
| Taxes, remuneration and social security | 45 | €3,652 | €5,027 | +€1,375 | +37.7% |
| Taxes | 450/3 | €3,652 | €5,027 | +€1,375 | +37.7% |
| Other amounts payable | 47/48 | €53,230 | €886 | -€52,345 | -98.3% |
| Accrued charges and deferred income | 492/3 | €2,370 | €103 | -€2,267 | -95.6% |
| Non-recurring operating income | 76A | €21,719 | - | -€21,719 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,830 | €7,865 | -€6,965 | -47.0% |
| Other operating charges | 640/8 | €727 | €905 | +€178 | +24.5% |
| Non-recurring operating charges | 66A | - | €7,982 | +€7,982 | |
| Gross operating margin | 9900 | €74,606 | €79,105 | +€4,499 | +6.0% |
| Operating profit (loss) | 9901 | €59,049 | €62,353 | +€3,305 | +5.6% |
| Financial income | 75/76B | €4,429 | €98 | -€4,330 | -97.8% |
| Recurring financial income | 75 | €4,429 | €98 | -€4,330 | -97.8% |
| Financial charges | 65/66B | €2,484 | €592 | -€1,892 | -76.2% |
| Recurring financial charges | 65 | €2,484 | €592 | -€1,892 | -76.2% |
| Profit (loss) for the period before taxes | 9903 | €60,994 | €61,860 | +€866 | +1.4% |
| Income taxes | 67/77 | €12,041 | €13,113 | +€1,073 | +8.9% |
| Profit (loss) for the period | 9904 | €48,953 | €48,746 | -€207 | -0.4% |
| Profit (loss) for the period to be appropriated | 9905 | €48,953 | €48,746 | -€207 | -0.4% |
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 28 October 2026 via checked.be.