DHAVAL GEMS: 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.
DHAVAL GEMS
Largest movements
- Receivables within one year -€599,942
down €599,942 (-86.2%), from €696,260 to €96,318
of which Trade receivables: -€305,977
- Profit (loss) carried forward -€638,709
down €638,709 (-146.7%), from -€435,499 to -€1.1m
- Other debts +€225,973
new in 2025: €225,973
- Trade debts -€210,010
down €210,010 (-98.3%), from €213,651 to €3,641
- Tax, wage and social debts +€19,983
up €19,983 (+62.3%), from €32,092 to €52,075
of which Remuneration and social security: +€33,000
- Gross operating margin -€418,066
down €418,066 (-190.7%), from -€219,247 to -€637,313
- Other operating charges -€23,157
down €23,157 (-95.2%), from €24,313 to €1,156
- Write-downs +€21,831
no longer reported in 2025 (was -€21,831)
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 | €731,616 | €125,466 | -€606,150 | -82.9% |
| Fixed assets | 21/28 | €24,664 | €22,502 | -€2,162 | -8.8% |
| Tangible fixed assets | 22/27 | €3,527 | €1,365 | -€2,162 | -61.3% |
| Plant, machinery and equipment | 23 | €3,527 | €1,365 | -€2,162 | -61.3% |
| Financial fixed assets | 28 | €21,138 | €21,138 | = | 0.0% |
| Current assets | 29/58 | €706,952 | €102,964 | -€603,988 | -85.4% |
| Stocks and contracts in progress | 3 | €1,913 | - | -€1,913 | |
| Stocks | 30/36 | €1,913 | - | -€1,913 | |
| Amounts receivable within one year | 40/41 | €696,260 | €96,318 | -€599,942 | -86.2% |
| Trade receivables | 40 | €305,977 | - | -€305,977 | |
| Other amounts receivable | 41 | €390,282 | €96,318 | -€293,964 | -75.3% |
| Cash at bank and in hand | 54/58 | €8,779 | €6,644 | -€2,135 | -24.3% |
| Deferred charges and accrued income | 490/1 | - | €2 | +€2 | |
| Total equity and liabilities | 10/49 | €731,616 | €125,466 | -€606,150 | -82.9% |
| Equity | 10/15 | €482,388 | -€156,321 | -€638,709 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €899,287 | €899,287 | = | 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% |
| Distributable reserves | 133 | €897,427 | €897,427 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€435,499 | -€1,074,208 | -€638,709 | -146.7% |
| Amounts payable | 17/49 | €249,228 | €281,787 | +€32,559 | +13.1% |
| Amounts payable within one year | 42/48 | €245,743 | €281,688 | +€35,945 | +14.6% |
| Trade debts | 44 | €213,651 | €3,641 | -€210,010 | -98.3% |
| Suppliers | 440/4 | €213,651 | €3,641 | -€210,010 | -98.3% |
| Taxes, remuneration and social security | 45 | €32,092 | €52,075 | +€19,983 | +62.3% |
| Taxes | 450/3 | €17,095 | €4,078 | -€13,017 | -76.1% |
| Remuneration and social security | 454/9 | €14,997 | €47,997 | +€33,000 | +220.0% |
| Other amounts payable | 47/48 | - | €225,973 | +€225,973 | |
| Accrued charges and deferred income | 492/3 | €3,484 | €99 | -€3,385 | -97.2% |
| Non-recurring operating income | 76A | €2,250 | - | -€2,250 | |
| Remuneration, social security and pensions | 62 | €335 | - | -€335 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,280 | €1,280 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€21,831 | - | +€21,831 | |
| Other operating charges | 640/8 | €24,313 | €1,156 | -€23,157 | -95.2% |
| Non-recurring operating charges | 66A | €4,427 | €882 | -€3,544 | -80.1% |
| Gross operating margin | 9900 | -€219,247 | -€637,313 | -€418,066 | -190.7% |
| Operating profit (loss) | 9901 | -€227,770 | -€640,631 | -€412,860 | -181.3% |
| Financial income | 75/76B | €2,323 | €2,189 | -€134 | -5.8% |
| Recurring financial income | 75 | €2,323 | €2,189 | -€134 | -5.8% |
| Financial charges | 65/66B | €734 | €97 | -€637 | -86.7% |
| Recurring financial charges | 65 | €734 | €97 | -€637 | -86.7% |
| Profit (loss) for the period before taxes | 9903 | -€226,182 | -€638,539 | -€412,357 | -182.3% |
| Income taxes | 67/77 | €1,150 | €170 | -€980 | -85.2% |
| Profit (loss) for the period | 9904 | -€227,332 | -€638,709 | -€411,377 | -181.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€227,332 | -€638,709 | -€411,377 | -181.0% |
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 10 October 2026 via checked.be.