CS DENS: 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.
CS DENS
Largest movements
- Current investments +€105,235
up €105,235 (+47.8%), from €220,000 to €325,235
- Cash -€29,591
down €29,591 (-38.2%), from €77,455 to €47,865
mainly Current investments (-€105,235) and Investment in fixed assets (net) (-€19,549)
- Tangible fixed assets +€8,008
up €8,008 (+42.8%), from €18,718 to €26,725
of which Furniture and vehicles: +€7,608
- Reserves +€93,500
up €93,500 (+34.5%), from €271,250 to €364,750
- Tax, wage and social debts -€12,532
down €12,532 (-21.7%), from €57,706 to €45,174
- Gross operating margin -€32,941
down €32,941 (-18.4%), from €179,000 to €146,059
- Taxes -€2,573
down €2,573 (-5.5%), from €46,663 to €44,090
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 | €335,053 | €417,600 | +€82,547 | +24.6% |
| Fixed assets | 21/28 | €18,718 | €26,725 | +€8,008 | +42.8% |
| Tangible fixed assets | 22/27 | €18,718 | €26,725 | +€8,008 | +42.8% |
| Plant, machinery and equipment | 23 | €589 | €989 | +€400 | +67.9% |
| Furniture and vehicles | 24 | €18,129 | €25,737 | +€7,608 | +42.0% |
| Current assets | 29/58 | €316,335 | €390,875 | +€74,540 | +23.6% |
| Amounts receivable within one year | 40/41 | €14,757 | €14,768 | +€11 | +0.1% |
| Trade receivables | 40 | €14,757 | €14,710 | -€47 | -0.3% |
| Other amounts receivable | 41 | - | €58 | +€58 | |
| Current investments | 50/53 | €220,000 | €325,235 | +€105,235 | +47.8% |
| Cash at bank and in hand | 54/58 | €77,455 | €47,865 | -€29,591 | -38.2% |
| Deferred charges and accrued income | 490/1 | €4,123 | €3,008 | -€1,115 | -27.1% |
| Total equity and liabilities | 10/49 | €335,053 | €417,600 | +€82,547 | +24.6% |
| Equity | 10/15 | €276,899 | €370,430 | +€93,531 | +33.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €271,250 | €364,750 | +€93,500 | +34.5% |
| Distributable reserves | 133 | €271,250 | €364,750 | +€93,500 | +34.5% |
| Profit (loss) carried forward | 14 | €649 | €680 | +€31 | +4.7% |
| Amounts payable | 17/49 | €58,154 | €47,171 | -€10,983 | -18.9% |
| Amounts payable within one year | 42/48 | €58,154 | €47,171 | -€10,983 | -18.9% |
| Trade debts | 44 | €397 | €1,997 | +€1,599 | +402.6% |
| Suppliers | 440/4 | €397 | €1,997 | +€1,599 | +402.6% |
| Taxes, remuneration and social security | 45 | €57,706 | €45,174 | -€12,532 | -21.7% |
| Taxes | 450/3 | €57,706 | €45,174 | -€12,532 | -21.7% |
| Other amounts payable | 47/48 | €51 | - | -€51 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,429 | €11,541 | +€112 | +1.0% |
| Other operating charges | 640/8 | €779 | €701 | -€77 | -9.9% |
| Gross operating margin | 9900 | €179,000 | €146,059 | -€32,941 | -18.4% |
| Operating profit (loss) | 9901 | €166,792 | €133,816 | -€32,976 | -19.8% |
| Financial income | 75/76B | €3,270 | €4,765 | +€1,495 | +45.7% |
| Recurring financial income | 75 | €3,270 | €4,365 | +€1,095 | +33.5% |
| Non-recurring financial income | 76B | - | €400 | +€400 | |
| Financial charges | 65/66B | €613 | €960 | +€348 | +56.7% |
| Recurring financial charges | 65 | €122 | €100 | -€22 | -17.8% |
| Non-recurring financial charges | 66B | €491 | €860 | +€369 | +75.2% |
| Profit (loss) for the period before taxes | 9903 | €169,449 | €137,621 | -€31,829 | -18.8% |
| Income taxes | 67/77 | €46,663 | €44,090 | -€2,573 | -5.5% |
| Profit (loss) for the period | 9904 | €122,786 | €93,531 | -€29,255 | -23.8% |
| Profit (loss) for the period to be appropriated | 9905 | €122,786 | €93,531 | -€29,255 | -23.8% |
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 1 October 2026 via checked.be.