FRANS DAVY: 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.
FRANS DAVY
Largest movements
- Receivables within one year -€13,229
down €13,229 (-46.5%), from €28,463 to €15,233
of which Trade receivables: -€14,797
- Tangible fixed assets -€6,268
down €6,268 (-36.1%), from €17,372 to €11,105
of which Leasing and similar rights: -€4,400
- Financial fixed assets +€2,550
new in 2025: €2,550
- Cash -€851
down €851 (-10.6%), from €8,066 to €7,215
mainly Trade debts (-€14,058) and Debts after one year (-€4,678)
- Trade debts -€14,058
down €14,058 (-67.2%), from €20,919 to €6,861
- Debts after one year -€4,678
down €4,678 (-59.1%), from €7,913 to €3,235
- Profit (loss) carried forward +€1,177
up €1,177 (+392,287%), from €0 to €1,177
- Other debts -€1,012
down €1,012 (-97.5%), from €1,037 to €26
- Tax, wage and social debts +€571
up €571 (+12.5%), from €4,555 to €5,126
- Gross operating margin -€15,903
down €15,903 (-63.9%), from €24,896 to €8,994
- Taxes -€3,042
down €3,042 (-86.8%), from €3,506 to €464
- Depreciation +€926
up €926 (+17.3%), from €5,342 to €6,268
- Other operating charges -€542
down €542 (-56.5%), from €959 to €418
- Financial charges -€318
down €318 (-28.7%), from €1,106 to €789
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 | €53,901 | €36,103 | -€17,798 | -33.0% |
| Fixed assets | 21/28 | €17,372 | €13,655 | -€3,718 | -21.4% |
| Tangible fixed assets | 22/27 | €17,372 | €11,105 | -€6,268 | -36.1% |
| Plant, machinery and equipment | 23 | €2,100 | €1,500 | -€600 | -28.6% |
| Furniture and vehicles | 24 | €2,072 | €805 | -€1,268 | -61.2% |
| Leasing and similar rights | 25 | €13,200 | €8,800 | -€4,400 | -33.3% |
| Financial fixed assets | 28 | - | €2,550 | +€2,550 | |
| Current assets | 29/58 | €36,529 | €22,448 | -€14,081 | -38.5% |
| Amounts receivable within one year | 40/41 | €28,463 | €15,233 | -€13,229 | -46.5% |
| Trade receivables | 40 | €24,620 | €9,823 | -€14,797 | -60.1% |
| Other amounts receivable | 41 | €3,842 | €5,410 | +€1,568 | +40.8% |
| Cash at bank and in hand | 54/58 | €8,066 | €7,215 | -€851 | -10.6% |
| Total equity and liabilities | 10/49 | €53,901 | €36,103 | -€17,798 | -33.0% |
| Equity | 10/15 | €15,000 | €16,177 | +€1,177 | +7.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €13,000 | €13,000 | = | 0.0% |
| Distributable reserves | 133 | €13,000 | €13,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €1,177 | +€1,177 | +392,287% |
| Amounts payable | 17/49 | €38,901 | €19,926 | -€18,975 | -48.8% |
| Amounts payable after more than one year | 17 | €7,913 | €3,235 | -€4,678 | -59.1% |
| Financial debts | 170/4 | €7,913 | €3,235 | -€4,678 | -59.1% |
| Amounts payable within one year | 42/48 | €30,988 | €16,691 | -€14,297 | -46.1% |
| Current portion of amounts payable after more than one year | 42 | €4,477 | €4,678 | +€201 | +4.5% |
| Trade debts | 44 | €20,919 | €6,861 | -€14,058 | -67.2% |
| Suppliers | 440/4 | €20,919 | €6,861 | -€14,058 | -67.2% |
| Taxes, remuneration and social security | 45 | €4,555 | €5,126 | +€571 | +12.5% |
| Taxes | 450/3 | €4,555 | €5,126 | +€571 | +12.5% |
| Other amounts payable | 47/48 | €1,037 | €26 | -€1,012 | -97.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,342 | €6,268 | +€926 | +17.3% |
| Other operating charges | 640/8 | €959 | €418 | -€542 | -56.5% |
| Gross operating margin | 9900 | €24,896 | €8,994 | -€15,903 | -63.9% |
| Operating profit (loss) | 9901 | €18,595 | €2,309 | -€16,286 | -87.6% |
| Financial income | 75/76B | €178 | €121 | -€58 | -32.5% |
| Recurring financial income | 75 | €178 | €121 | -€58 | -32.5% |
| Financial charges | 65/66B | €1,106 | €789 | -€318 | -28.7% |
| Recurring financial charges | 65 | €1,106 | €789 | -€318 | -28.7% |
| Profit (loss) for the period before taxes | 9903 | €17,667 | €1,641 | -€16,026 | -90.7% |
| Income taxes | 67/77 | €3,506 | €464 | -€3,042 | -86.8% |
| Profit (loss) for the period | 9904 | €14,161 | €1,177 | -€12,984 | -91.7% |
| Profit (loss) for the period to be appropriated | 9905 | €14,161 | €1,177 | -€12,984 | -91.7% |
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 14 October 2026 via checked.be.