DEVID CONSTRUCT: 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.
DEVID CONSTRUCT
Largest movements
- Receivables within one year +€15,830
up €15,830 (+9.1%), from €173,209 to €189,038
of which Other amounts receivable: +€10,066
- Cash +€4,396
up €4,396 (+107.7%), from €4,081 to €8,477
mainly Net result for the year (+€9,707) and Trade debts (+€8,246)
- Profit (loss) carried forward +€9,707
up €9,707 (+6.2%), from €156,840 to €166,547
- Trade debts +€8,246
up €8,246 (+147.5%), from €5,590 to €13,836
of which Bills of exchange payable: +€7,569
- Tax, wage and social debts +€3,263
up €3,263 (+48.0%), from €6,799 to €10,063
of which Taxes: +€2,894
- Taxes -€6,404
down €6,404 (-63.5%), from €10,087 to €3,683
- Staff costs +€6,312
up €6,312 (+68.6%), from €9,201 to €15,513
- Depreciation -€3,937
down €3,937 (-88.8%), from €4,433 to €496
- Financial charges -€3,840
down €3,840 (-63.5%), from €6,047 to €2,207
- Gross operating margin -€3,284
down €3,284 (-9.1%), from €35,982 to €32,698
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 | €177,290 | €198,506 | +€21,217 | +12.0% |
| Fixed assets | 21/28 | - | €991 | +€991 | |
| Tangible fixed assets | 22/27 | - | €991 | +€991 | |
| Furniture and vehicles | 24 | - | €991 | +€991 | |
| Current assets | 29/58 | €177,290 | €197,515 | +€20,225 | +11.4% |
| Amounts receivable within one year | 40/41 | €173,209 | €189,038 | +€15,830 | +9.1% |
| Trade receivables | 40 | €29,477 | €35,240 | +€5,764 | +19.6% |
| Other amounts receivable | 41 | €143,732 | €153,798 | +€10,066 | +7.0% |
| Cash at bank and in hand | 54/58 | €4,081 | €8,477 | +€4,396 | +107.7% |
| Total equity and liabilities | 10/49 | €177,290 | €198,506 | +€21,217 | +12.0% |
| Equity | 10/15 | €164,900 | €174,607 | +€9,707 | +5.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €156,840 | €166,547 | +€9,707 | +6.2% |
| Amounts payable | 17/49 | €12,390 | €23,899 | +€11,509 | +92.9% |
| Amounts payable within one year | 42/48 | €12,390 | €23,899 | +€11,509 | +92.9% |
| Trade debts | 44 | €5,590 | €13,836 | +€8,246 | +147.5% |
| Suppliers | 440/4 | €2,514 | €3,191 | +€677 | +26.9% |
| Bills of exchange payable | 441 | €3,076 | €10,645 | +€7,569 | +246.1% |
| Taxes, remuneration and social security | 45 | €6,799 | €10,063 | +€3,263 | +48.0% |
| Taxes | 450/3 | €6,161 | €9,055 | +€2,894 | +47.0% |
| Remuneration and social security | 454/9 | €638 | €1,007 | +€369 | +57.8% |
| Remuneration, social security and pensions | 62 | €9,201 | €15,513 | +€6,312 | +68.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,433 | €496 | -€3,937 | -88.8% |
| Other operating charges | 640/8 | €2,628 | €1,092 | -€1,536 | -58.5% |
| Gross operating margin | 9900 | €35,982 | €32,698 | -€3,284 | -9.1% |
| Operating profit (loss) | 9901 | €19,720 | €15,598 | -€4,122 | -20.9% |
| Financial charges | 65/66B | €6,047 | €2,207 | -€3,840 | -63.5% |
| Recurring financial charges | 65 | €6,047 | €2,207 | -€3,840 | -63.5% |
| Profit (loss) for the period before taxes | 9903 | €13,673 | €13,390 | -€282 | -2.1% |
| Income taxes | 67/77 | €10,087 | €3,683 | -€6,404 | -63.5% |
| Profit (loss) for the period | 9904 | €3,586 | €9,707 | +€6,121 | +170.7% |
| Profit (loss) for the period to be appropriated | 9905 | €3,586 | €9,707 | +€6,121 | +170.7% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.