NEW DAVIGO: 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.
NEW DAVIGO
Largest movements
- Intangible fixed assets +€101,964
up €101,964 (+69.7%), from €146,289 to €248,253
- Stocks and contracts -€75,618
down €75,618 (-35.9%), from €210,368 to €134,751
- Cash +€66,044
up €66,044 (+28.2%), from €234,355 to €300,398
mainly Net result for the year (+€202,747) and Stocks and contracts (+€75,618)
- Receivables within one year +€31,970
up €31,970 (+16.9%), from €189,332 to €221,302
of which Trade receivables: +€51,801
- Reserves +€140,221
up €140,221 (+21.5%), from €651,410 to €791,630
- Trade debts -€43,195
down €43,195 (-51.8%), from €83,315 to €40,119
- Tax, wage and social debts +€20,158
up €20,158 (+21,130%), from €95 to €20,253
- Gross operating margin +€134,405
up €134,405 (+61.1%), from €219,986 to €354,391
- Depreciation +€34,081
up €34,081 (+141%), from €24,087 to €58,168
- Taxes +€31,807
up €31,807 (+62.3%), from €51,081 to €82,888
- Other operating charges +€6,992
up €6,992 (+240%), from €2,918 to €9,910
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 | €816,163 | €933,610 | +€117,447 | +14.4% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €181,544 | €275,608 | +€94,065 | +51.8% |
| Intangible fixed assets | 21 | €146,289 | €248,253 | +€101,964 | +69.7% |
| Tangible fixed assets | 22/27 | €35,254 | €27,355 | -€7,899 | -22.4% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €29,887 | €22,799 | -€7,088 | -23.7% |
| Other tangible fixed assets | 26 | €5,368 | €4,557 | -€811 | -15.1% |
| Current assets | 29/58 | €634,619 | €658,002 | +€23,382 | +3.7% |
| Stocks and contracts in progress | 3 | €210,368 | €134,751 | -€75,618 | -35.9% |
| Stocks | 30/36 | €210,368 | €134,751 | -€75,618 | -35.9% |
| Amounts receivable within one year | 40/41 | €189,332 | €221,302 | +€31,970 | +16.9% |
| Trade receivables | 40 | €169,501 | €221,302 | +€51,801 | +30.6% |
| Other amounts receivable | 41 | €19,832 | - | -€19,832 | |
| Cash at bank and in hand | 54/58 | €234,355 | €300,398 | +€66,044 | +28.2% |
| Deferred charges and accrued income | 490/1 | €564 | €1,551 | +€987 | +175% |
| Total equity and liabilities | 10/49 | €816,163 | €933,610 | +€117,447 | +14.4% |
| Equity | 10/15 | €657,610 | €797,830 | +€140,221 | +21.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €651,410 | €791,630 | +€140,221 | +21.5% |
| Distributable reserves | 133 | €651,410 | €791,630 | +€140,221 | +21.5% |
| Amounts payable | 17/49 | €158,553 | €135,779 | -€22,774 | -14.4% |
| Amounts payable after more than one year | 17 | €12,216 | €8,898 | -€3,319 | -27.2% |
| Financial debts | 170/4 | €12,216 | €8,898 | -€3,319 | -27.2% |
| Amounts payable within one year | 42/48 | €146,337 | €126,882 | -€19,455 | -13.3% |
| Current portion of amounts payable after more than one year | 42 | €3,189 | €3,319 | +€129 | +4.1% |
| Trade debts | 44 | €83,315 | €40,119 | -€43,195 | -51.8% |
| Suppliers | 440/4 | €83,315 | €40,119 | -€43,195 | -51.8% |
| Taxes, remuneration and social security | 45 | €95 | €20,253 | +€20,158 | +21,130% |
| Taxes | 450/3 | €95 | €20,253 | +€20,158 | +21,130% |
| Other amounts payable | 47/48 | €59,738 | €63,191 | +€3,453 | +5.8% |
| Non-recurring operating income | 76A | €14,932 | - | -€14,932 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,087 | €58,168 | +€34,081 | +141% |
| Other operating charges | 640/8 | €2,918 | €9,910 | +€6,992 | +240% |
| Gross operating margin | 9900 | €219,986 | €354,391 | +€134,405 | +61.1% |
| Operating profit (loss) | 9901 | €192,980 | €286,312 | +€93,332 | +48.4% |
| Financial income | 75/76B | €65 | €87 | +€22 | +33.9% |
| Recurring financial income | 75 | €65 | €87 | +€22 | +33.9% |
| Financial charges | 65/66B | €516 | €764 | +€249 | +48.2% |
| Recurring financial charges | 65 | €516 | €764 | +€249 | +48.2% |
| Profit (loss) for the period before taxes | 9903 | €192,529 | €285,635 | +€93,105 | +48.4% |
| Income taxes | 67/77 | €51,081 | €82,888 | +€31,807 | +62.3% |
| Profit (loss) for the period | 9904 | €141,449 | €202,747 | +€61,298 | +43.3% |
| Profit (loss) for the period to be appropriated | 9905 | €141,449 | €202,747 | +€61,298 | +43.3% |
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 23 October 2026 via checked.be.