LES DAVIDS: 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.
LES DAVIDS
Largest movements
- Cash +€22,512
up €22,512 (+1506.8%), from €1,494 to €24,006
mainly Debts after one year (+€27,107) and Trade debts (+€12,720)
- Receivables within one year -€9,728
down €9,728 (-10.1%), from €96,031 to €86,303
of which Other amounts receivable: -€6,533
- Stocks and contracts -€5,532
no longer reported in 2025 (was €5,532)
- Profit (loss) carried forward -€32,638
down €32,638 (-10.3%), from -€316,609 to -€349,246
- Debts after one year +€27,107
up €27,107 (+11.8%), from €230,036 to €257,143
- Trade debts +€12,720
up €12,720 (+57.1%), from €22,258 to €34,979
- Gross operating margin -€9,570
down €9,570 (-74.6%), from -€12,834 to -€22,404
- Depreciation -€1,191
down €1,191 (-94.8%), from €1,257 to €65
- Write-downs -€1,015
down €1,015 (-28.8%), from €3,530 to €2,515
- Financial charges -€488
down €488 (-4.9%), from €10,019 to €9,532
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 | €104,285 | €111,475 | +€7,190 | +6.9% |
| Fixed assets | 21/28 | €1,065 | €1,000 | -€65 | -6.1% |
| Tangible fixed assets | 22/27 | €65 | - | -€65 | |
| Land and buildings | 22 | €65 | - | -€65 | |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €103,220 | €110,475 | +€7,255 | +7.0% |
| Stocks and contracts in progress | 3 | €5,532 | - | -€5,532 | |
| Stocks | 30/36 | €5,532 | - | -€5,532 | |
| Amounts receivable within one year | 40/41 | €96,031 | €86,303 | -€9,728 | -10.1% |
| Trade receivables | 40 | €40,422 | €37,227 | -€3,195 | -7.9% |
| Other amounts receivable | 41 | €55,609 | €49,076 | -€6,533 | -11.7% |
| Cash at bank and in hand | 54/58 | €1,494 | €24,006 | +€22,512 | +1506.8% |
| Deferred charges and accrued income | 490/1 | €163 | €166 | +€3 | +2.0% |
| Total equity and liabilities | 10/49 | €104,285 | €111,475 | +€7,190 | +6.9% |
| Equity | 10/15 | -€148,009 | -€180,646 | -€32,638 | -22.1% |
| Contributions | 10/11 | €168,600 | €168,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€316,609 | -€349,246 | -€32,638 | -10.3% |
| Amounts payable | 17/49 | €252,294 | €292,122 | +€39,828 | +15.8% |
| Amounts payable after more than one year | 17 | €230,036 | €257,143 | +€27,107 | +11.8% |
| Other amounts payable | 178/9 | €230,036 | €257,143 | +€27,107 | +11.8% |
| Amounts payable within one year | 42/48 | €22,258 | €34,979 | +€12,720 | +57.1% |
| Trade debts | 44 | €22,258 | €34,979 | +€12,720 | +57.1% |
| Suppliers | 440/4 | €22,258 | €34,979 | +€12,720 | +57.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,257 | €65 | -€1,191 | -94.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,530 | €2,515 | -€1,015 | -28.8% |
| Other operating charges | 640/8 | €536 | €622 | +€86 | +16.0% |
| Gross operating margin | 9900 | -€12,834 | -€22,404 | -€9,570 | -74.6% |
| Operating profit (loss) | 9901 | -€18,157 | -€25,607 | -€7,449 | -41.0% |
| Financial income | 75/76B | €2,647 | €2,500 | -€147 | -5.6% |
| Recurring financial income | 75 | €2,647 | €2,500 | -€147 | -5.6% |
| Financial charges | 65/66B | €10,019 | €9,532 | -€488 | -4.9% |
| Recurring financial charges | 65 | €10,019 | €9,532 | -€488 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | -€25,529 | -€32,638 | -€7,108 | -27.8% |
| Profit (loss) for the period | 9904 | -€25,529 | -€32,638 | -€7,108 | -27.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€25,529 | -€32,638 | -€7,108 | -27.8% |
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 8 October 2026 via checked.be.