CALLENS & DENYS: 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.
CALLENS & DENYS
Largest movements
- Cash +€18,689
up €18,689 (+24.4%), from €76,500 to €95,189
mainly Other debts (+€85,595) and Net result for the year (+€35,062)
- Other debts +€85,595
up €85,595 (+195%), from €43,835 to €129,430
- Reserves -€54,938
down €54,938 (-14.5%), from €380,145 to €325,206
- Gross operating margin +€6,101
up €6,101 (+5.0%), from €122,659 to €128,759
- Financial income +€3,584
up €3,584 (+74.7%), from €4,800 to €8,384
- Taxes +€2,734
up €2,734 (+18.0%), from €15,157 to €17,891
- Other operating charges +€1,510
up €1,510 (+40.9%), from €3,692 to €5,202
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 | €476,626 | €500,894 | +€24,268 | +5.1% |
| Formation expenses | 20 | €934 | €696 | -€239 | -25.5% |
| Fixed assets | 21/28 | €11,811 | €14,163 | +€2,351 | +19.9% |
| Intangible fixed assets | 21 | - | €1,137 | +€1,137 | |
| Tangible fixed assets | 22/27 | €2,494 | €3,709 | +€1,215 | +48.7% |
| Furniture and vehicles | 24 | €2,494 | €3,709 | +€1,215 | +48.7% |
| Financial fixed assets | 28 | €9,317 | €9,317 | = | 0.0% |
| Current assets | 29/58 | €463,881 | €486,036 | +€22,155 | +4.8% |
| Amounts receivable within one year | 40/41 | €50,934 | €52,245 | +€1,311 | +2.6% |
| Trade receivables | 40 | €49,934 | €52,245 | +€2,311 | +4.6% |
| Other amounts receivable | 41 | €1,000 | - | -€1,000 | |
| Current investments | 50/53 | €336,447 | €338,601 | +€2,155 | +0.6% |
| Cash at bank and in hand | 54/58 | €76,500 | €95,189 | +€18,689 | +24.4% |
| Total equity and liabilities | 10/49 | €476,626 | €500,894 | +€24,268 | +5.1% |
| Equity | 10/15 | €398,745 | €343,806 | -€54,938 | -13.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €380,145 | €325,206 | -€54,938 | -14.5% |
| Distributable reserves | 133 | €380,145 | €325,206 | -€54,938 | -14.5% |
| Amounts payable | 17/49 | €77,881 | €157,088 | +€79,206 | +102% |
| Amounts payable within one year | 42/48 | €77,881 | €157,047 | +€79,166 | +102% |
| Trade debts | 44 | €7,340 | €3,090 | -€4,249 | -57.9% |
| Suppliers | 440/4 | €7,340 | €3,090 | -€4,249 | -57.9% |
| Taxes, remuneration and social security | 45 | €26,707 | €24,527 | -€2,180 | -8.2% |
| Taxes | 450/3 | €13,382 | €12,844 | -€537 | -4.0% |
| Remuneration and social security | 454/9 | €13,325 | €11,682 | -€1,643 | -12.3% |
| Other amounts payable | 47/48 | €43,835 | €129,430 | +€85,595 | +195% |
| Accrued charges and deferred income | 492/3 | - | €41 | +€41 | |
| Remuneration, social security and pensions | 62 | €76,042 | €76,463 | +€422 | +0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,222 | €1,881 | -€342 | -15.4% |
| Other operating charges | 640/8 | €3,692 | €5,202 | +€1,510 | +40.9% |
| Gross operating margin | 9900 | €122,659 | €128,759 | +€6,101 | +5.0% |
| Operating profit (loss) | 9901 | €40,703 | €45,213 | +€4,510 | +11.1% |
| Financial income | 75/76B | €4,800 | €8,384 | +€3,584 | +74.7% |
| Recurring financial income | 75 | €4,800 | €8,384 | +€3,584 | +74.7% |
| Financial charges | 65/66B | €851 | €645 | -€206 | -24.2% |
| Recurring financial charges | 65 | €851 | €645 | -€206 | -24.2% |
| Profit (loss) for the period before taxes | 9903 | €44,652 | €52,953 | +€8,300 | +18.6% |
| Income taxes | 67/77 | €15,157 | €17,891 | +€2,734 | +18.0% |
| Profit (loss) for the period | 9904 | €29,495 | €35,062 | +€5,566 | +18.9% |
| Profit (loss) for the period to be appropriated | 9905 | €29,495 | €35,062 | +€5,566 | +18.9% |
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 27 October 2026 via checked.be.