DR. DAVY HOSTE: 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.
DR. DAVY HOSTE
Largest movements
- Receivables within one year +€122,422
up €122,422 (+50.8%), from €240,901 to €363,323
of which Other amounts receivable: +€120,019
- Tangible fixed assets +€74,809
up €74,809 (+238.1%), from €31,422 to €106,231
- Cash +€62,064
up €62,064 (+14.3%), from €434,442 to €496,506
mainly Other debts (+€645,400) and Net result for the year (+€330,830)
- Other debts +€645,400
up €645,400 (+782.4%), from €82,495 to €727,895
- Reserves -€397,064
down €397,064 (-30.1%), from €1.3m to €921,300
of which Distributable reserves: -€397,064
- Gross operating margin +€45,988
up €45,988 (+10.3%), from €445,094 to €491,083
- Taxes +€14,576
up €14,576 (+10.4%), from €139,972 to €154,547
- Depreciation +€11,966
up €11,966 (+62.2%), from €19,226 to €31,192
- Financial income +€10,240
up €10,240 (+43.1%), from €23,750 to €33,990
- Financial charges +€6,211
up €6,211 (+389.9%), from €1,593 to €7,804
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 | €1,495,363 | €1,757,112 | +€261,749 | +17.5% |
| Fixed assets | 21/28 | €31,422 | €106,231 | +€74,809 | +238.1% |
| Tangible fixed assets | 22/27 | €31,422 | €106,231 | +€74,809 | +238.1% |
| Furniture and vehicles | 24 | €31,422 | €106,231 | +€74,809 | +238.1% |
| Current assets | 29/58 | €1,463,941 | €1,650,881 | +€186,940 | +12.8% |
| Amounts receivable after more than one year | 29 | €525,000 | €525,000 | = | 0.0% |
| Trade receivables | 290 | €525,000 | €525,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €240,901 | €363,323 | +€122,422 | +50.8% |
| Trade receivables | 40 | €213,027 | €215,430 | +€2,403 | +1.1% |
| Other amounts receivable | 41 | €27,874 | €147,893 | +€120,019 | +430.6% |
| Current investments | 50/53 | €245,466 | €237,903 | -€7,563 | -3.1% |
| Cash at bank and in hand | 54/58 | €434,442 | €496,506 | +€62,064 | +14.3% |
| Deferred charges and accrued income | 490/1 | €18,132 | €28,148 | +€10,016 | +55.2% |
| Total equity and liabilities | 10/49 | €1,495,363 | €1,757,112 | +€261,749 | +17.5% |
| Equity | 10/15 | €1,330,764 | €933,700 | -€397,064 | -29.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,318,364 | €921,300 | -€397,064 | -30.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,318,364 | €921,300 | -€397,064 | -30.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €164,599 | €823,412 | +€658,813 | +400.3% |
| Amounts payable within one year | 42/48 | €143,778 | €804,468 | +€660,690 | +459.5% |
| Trade debts | 44 | €1,717 | €1,732 | +€15 | +0.9% |
| Suppliers | 440/4 | €1,717 | €1,732 | +€15 | +0.9% |
| Taxes, remuneration and social security | 45 | €59,566 | €74,842 | +€15,275 | +25.6% |
| Taxes | 450/3 | €59,566 | €74,842 | +€15,275 | +25.6% |
| Other amounts payable | 47/48 | €82,495 | €727,895 | +€645,400 | +782.4% |
| Accrued charges and deferred income | 492/3 | €20,821 | €18,944 | -€1,877 | -9.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,226 | €31,192 | +€11,966 | +62.2% |
| Other operating charges | 640/8 | €564 | €699 | +€135 | +23.9% |
| Gross operating margin | 9900 | €445,094 | €491,083 | +€45,988 | +10.3% |
| Operating profit (loss) | 9901 | €425,304 | €459,192 | +€33,888 | +8.0% |
| Financial income | 75/76B | €23,750 | €33,990 | +€10,240 | +43.1% |
| Recurring financial income | 75 | €23,750 | €33,990 | +€10,240 | +43.1% |
| Financial charges | 65/66B | €1,593 | €7,804 | +€6,211 | +389.9% |
| Recurring financial charges | 65 | €1,593 | €7,804 | +€6,211 | +389.9% |
| Profit (loss) for the period before taxes | 9903 | €447,461 | €485,378 | +€37,917 | +8.5% |
| Income taxes | 67/77 | €139,972 | €154,547 | +€14,576 | +10.4% |
| Profit (loss) for the period | 9904 | €307,489 | €330,830 | +€23,341 | +7.6% |
| Profit (loss) for the period to be appropriated | 9905 | €307,489 | €330,830 | +€23,341 | +7.6% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.