DOVANA: 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.
DOVANA
Largest movements
- Receivables within one year -€8.8m
down €8.8m (-83.9%), from €10.5m to €1.7m
of which Other amounts receivable: -€8.8m
- Current investments +€8.0m
new in 2025: €8.0m
- Cash -€2.2m
down €2.2m (-94.1%), from €2.4m to €138,821
mainly Other debts (-€8.4m) and Current investments (-€8.0m)
- Receivables after one year -€538,917
down €538,917 (-100%), from €538,917 to €0
- Other debts -€8.4m
down €8.4m (-100%), from €8.4m to €0
- Debts after one year +€5.3m
up €5.3m (+176%), from €3.0m to €8.2m
- Trade debts -€330,125
down €330,125 (-100%), from €330,125 to €0
- Profit (loss) carried forward -€184,497
down €184,497, from €0 to -€184,497
- Financial income -€8.5m
down €8.5m (-96.8%), from €8.7m to €283,743
- Financial charges +€235,555
up €235,555 (+70,899%), from €332 to €235,887
- Staff costs -€114,255
down €114,255 (-100%), from €114,255 to €0
- Gross operating margin +€72,390
up €72,390 (+32.9%), from -€219,874 to -€147,485
- Other operating charges +€45,033
up €45,033 (+4,149%), from €1,086 to €46,118
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 | €13,609,649 | €9,972,391 | -€3.6m | -26.7% |
| Fixed assets | 21/28 | €170,717 | €129,438 | -€41,279 | -24.2% |
| Tangible fixed assets | 22/27 | €167,483 | €129,438 | -€38,045 | -22.7% |
| Furniture and vehicles | 24 | €167,483 | €129,438 | -€38,045 | -22.7% |
| Financial fixed assets | 28 | €3,234 | €0 | -€3,234 | -100% |
| Current assets | 29/58 | €13,438,931 | €9,842,953 | -€3.6m | -26.8% |
| Amounts receivable after more than one year | 29 | €538,917 | €0 | -€538,917 | -100% |
| Other amounts receivable | 291 | €538,917 | €0 | -€538,917 | -100% |
| Amounts receivable within one year | 40/41 | €10,505,000 | €1,692,347 | -€8.8m | -83.9% |
| Trade receivables | 40 | €5,000 | €0 | -€5,000 | -100% |
| Other amounts receivable | 41 | €10,500,000 | €1,692,347 | -€8.8m | -83.9% |
| Current investments | 50/53 | - | €8,011,785 | +€8.0m | |
| Cash at bank and in hand | 54/58 | €2,355,336 | €138,821 | -€2.2m | -94.1% |
| Deferred charges and accrued income | 490/1 | €39,678 | €0 | -€39,678 | -100% |
| Total equity and liabilities | 10/49 | €13,609,649 | €9,972,391 | -€3.6m | -26.7% |
| Equity | 10/15 | €1,910,500 | €1,726,003 | -€184,497 | -9.7% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €1,902,500 | €1,902,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €1,900,640 | €1,902,500 | +€1,860 | +0.1% |
| Profit (loss) carried forward | 14 | €0 | -€184,497 | -€184,497 | |
| Amounts payable | 17/49 | €11,699,148 | €8,246,387 | -€3.5m | -29.5% |
| Amounts payable after more than one year | 17 | €2,987,540 | €8,245,389 | +€5.3m | +176% |
| Other amounts payable | 178/9 | €2,987,540 | €8,245,389 | +€5.3m | +176% |
| Amounts payable within one year | 42/48 | €8,710,641 | €0 | -€8.7m | -100% |
| Trade debts | 44 | €330,125 | €0 | -€330,125 | -100% |
| Suppliers | 440/4 | €330,125 | €0 | -€330,125 | -100% |
| Taxes, remuneration and social security | 45 | €2,384 | €0 | -€2,384 | -100% |
| Taxes | 450/3 | €2,384 | €0 | -€2,384 | -100% |
| Other amounts payable | 47/48 | €8,378,132 | €0 | -€8.4m | -100% |
| Accrued charges and deferred income | 492/3 | €968 | €998 | +€31 | +3.2% |
| Remuneration, social security and pensions | 62 | €114,255 | €0 | -€114,255 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,743 | €38,045 | +€15,303 | +67.3% |
| Other operating charges | 640/8 | €1,086 | €46,118 | +€45,033 | +4,149% |
| Gross operating margin | 9900 | -€219,874 | -€147,485 | +€72,390 | +32.9% |
| Operating profit (loss) | 9901 | -€357,958 | -€231,648 | +€126,310 | +35.3% |
| Financial income | 75/76B | €8,745,723 | €283,743 | -€8.5m | -96.8% |
| Recurring financial income | 75 | €8,745,723 | €283,743 | -€8.5m | -96.8% |
| Financial charges | 65/66B | €332 | €235,887 | +€235,555 | +70,899% |
| Recurring financial charges | 65 | €332 | €235,887 | +€235,555 | +70,899% |
| Profit (loss) for the period before taxes | 9903 | €8,387,433 | -€183,793 | -€8.6m | |
| Income taxes | 67/77 | €2,384 | €704 | -€1,680 | -70.4% |
| Profit (loss) for the period | 9904 | €8,385,049 | -€184,497 | -€8.6m | |
| Profit (loss) for the period to be appropriated | 9905 | €8,385,049 | -€184,497 | -€8.6m |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.