DOVARO: what changed
Two fiscal 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.
What changed
DOVARO
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€16,702
2024 · €29,927-€13,225
Equity
€42,702
2024 · €26,000+€16,702
Cash
€6,445
2024 · €5,495+€950
Balance sheet total
€543,791
2024 · €564,191-€20,399
Largest movements
Assets
- Tangible fixed assets -€20,204
down €20,204 (-3.7%), from €547,078 to €526,874
of which Land and buildings: -€17,834
Equity and liabilities
- Debts after one year -€41,536
down €41,536 (-8.4%), from €495,466 to €453,931
of which Financial debts: -€29,536
- Profit (loss) carried forward +€16,702
up €16,702 (+178.6%), from €9,350 to €26,052
Income statement
- Gross operating margin -€8,718
down €8,718 (-12.9%), from €67,409 to €58,691
- Taxes +€7,069
new in 2025: €7,069
- Depreciation -€2,008
down €2,008 (-8.7%), from €23,161 to €21,153
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.
Result 2024
€29,927
Gross operating margin
-€8,718
Depreciation
+€2,008
Other operating charges
-€125
Financial income
+€11
Financial charges
+€668
Taxes
-€7,069
Result 2025
€16,702
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.
From operations
+€42,745
Investment
-€949
Financing
-€40,846
Cash 2024
€5,495
From operations (derived)
+€42,745
Net result for the year
+€16,702
Depreciation
+€21,153
Stocks and contracts
-€1,500
Receivables within one year
+€1,000
Deferred charges and accrued income
+€1,645
Trade debts
-€578
Tax, wage and social debts
+€1,730
Other debts
+€2,026
Accrued charges and deferred income
+€567
Investment (derived)
-€949
Investment in fixed assets (net)
-€949
Financing
-€40,846
Debts after one year
-€41,536
Current portion of long-term debt
+€689
Cash 2025
€6,445
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €564,191 | €543,791 | -€20,399 | -3.6% |
| Fixed assets | 21/28 | €547,078 | €526,874 | -€20,204 | -3.7% |
| Tangible fixed assets | 22/27 | €547,078 | €526,874 | -€20,204 | -3.7% |
| Land and buildings | 22 | €529,031 | €511,197 | -€17,834 | -3.4% |
| Plant, machinery and equipment | 23 | €6,582 | €6,181 | -€401 | -6.1% |
| Furniture and vehicles | 24 | €11,465 | €9,495 | -€1,970 | -17.2% |
| Current assets | 29/58 | €17,113 | €16,918 | -€195 | -1.1% |
| Stocks and contracts in progress | 3 | €4,200 | €5,700 | +€1,500 | +35.7% |
| Stocks | 30/36 | €4,200 | €5,700 | +€1,500 | +35.7% |
| Amounts receivable within one year | 40/41 | €4,000 | €3,000 | -€1,000 | -25.0% |
| Other amounts receivable | 41 | €4,000 | €3,000 | -€1,000 | -25.0% |
| Cash at bank and in hand | 54/58 | €5,495 | €6,445 | +€950 | +17.3% |
| Deferred charges and accrued income | 490/1 | €3,418 | €1,773 | -€1,645 | -48.1% |
| Total equity and liabilities | 10/49 | €564,191 | €543,791 | -€20,399 | -3.6% |
| Equity | 10/15 | €26,000 | €42,702 | +€16,702 | +64.2% |
| Contributions | 10/11 | €16,550 | €16,550 | = | 0.0% |
| Reserves | 13 | €100 | €100 | = | 0.0% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,350 | €26,052 | +€16,702 | +178.6% |
| Amounts payable | 17/49 | €538,190 | €501,089 | -€37,101 | -6.9% |
| Amounts payable after more than one year | 17 | €495,466 | €453,931 | -€41,536 | -8.4% |
| Financial debts | 170/4 | €353,506 | €323,970 | -€29,536 | -8.4% |
| Other amounts payable | 178/9 | €141,961 | €129,961 | -€12,000 | -8.5% |
| Amounts payable within one year | 42/48 | €39,476 | €43,344 | +€3,868 | +9.8% |
| Current portion of amounts payable after more than one year | 42 | €28,846 | €29,536 | +€689 | +2.4% |
| Trade debts | 44 | €859 | €281 | -€578 | -67.3% |
| Suppliers | 440/4 | €859 | €281 | -€578 | -67.3% |
| Taxes, remuneration and social security | 45 | €1,909 | €3,640 | +€1,730 | +90.6% |
| Taxes | 450/3 | €1,909 | €3,640 | +€1,730 | +90.6% |
| Other amounts payable | 47/48 | €7,861 | €9,887 | +€2,026 | +25.8% |
| Accrued charges and deferred income | 492/3 | €3,247 | €3,814 | +€567 | +17.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,161 | €21,153 | -€2,008 | -8.7% |
| Other operating charges | 640/8 | €4,299 | €4,424 | +€125 | +2.9% |
| Gross operating margin | 9900 | €67,409 | €58,691 | -€8,718 | -12.9% |
| Operating profit (loss) | 9901 | €39,949 | €33,114 | -€6,835 | -17.1% |
| Financial income | 75/76B | €9 | €20 | +€11 | +116.2% |
| Recurring financial income | 75 | €9 | €20 | +€11 | +116.2% |
| Financial charges | 65/66B | €10,032 | €9,363 | -€668 | -6.7% |
| Recurring financial charges | 65 | €10,032 | €9,363 | -€668 | -6.7% |
| Profit (loss) for the period before taxes | 9903 | €29,927 | €23,771 | -€6,156 | -20.6% |
| Income taxes | 67/77 | - | €7,069 | +€7,069 | |
| Profit (loss) for the period | 9904 | €29,927 | €16,702 | -€13,225 | -44.2% |
| Profit (loss) for the period to be appropriated | 9905 | €29,927 | €16,702 | -€13,225 | -44.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.