Danfoss: 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.
What changed
Danfoss
NACE 26.510, Manufacture of computer, electronic and optical products
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€1.4m
2023 · €432,491+€932,321
Equity
€1.3m
2023 · €1.0m+€252,812
Cash
-
not filed
Balance sheet total
€7.4m
2023 · €7.7m-€294,111
Largest movements
Assets
- Stocks and contracts -€301,699
down €301,699 (-76.6%), from €393,853 to €92,154
Equity and liabilities
- Other debts -€532,219
down €532,219 (-32.3%), from €1.6m to €1.1m
- Trade debts +€260,661
up €260,661 (+26.8%), from €971,353 to €1.2m
- Tax, wage and social debts -€254,505
down €254,505 (-14.1%), from €1.8m to €1.6m
of which Remuneration and social security: -€585,467
- Profit (loss) carried forward +€252,812
up €252,812 (+40.0%), from €632,539 to €885,351
Income statement
- Staff costs -€1.3m
down €1.3m (-20.3%), from €6.6m to €5.2m
- Goods and materials +€380,276
up €380,276 (+1.6%), from €24.3m to €24.7m
of which Change in stocks: decrease (increase): +€235,445
- Turnover -€332,297
down €332,297 (-1.0%), from €32.3m to €32.0m
From the 2023 result to the 2024 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.
Result 2023
€432,491
Turnover
-€332,297
Other operating income
-€58,513
Goods and materials
-€380,276
Services and other goods
+€228,241
Staff costs
+€1.3m
Depreciation
-€319
Write-downs
+€55,934
Provisions
+€114,970
Other operating charges
+€187,013
Other operating items
-€40,372
Financial income
+€1,477
Financial charges
+€1,483
Taxes
-€174,920
Result 2024
€1.4m
Cash bridge derived
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,711,160 | €7,417,049 | -€294,111 | -3.8% |
| Fixed assets | 21/28 | €40,606 | €59,470 | +€18,864 | +46.5% |
| Tangible fixed assets | 22/27 | €36,616 | €55,480 | +€18,864 | +51.5% |
| Plant, machinery and equipment | 23 | €162 | €95 | -€67 | -41.4% |
| Furniture and vehicles | 24 | €36,454 | €20,297 | -€16,158 | -44.3% |
| Assets under construction and advance payments | 27 | - | €35,089 | +€35,089 | |
| Financial fixed assets | 28 | €3,990 | €3,990 | = | 0.0% |
| Other financial fixed assets | 284/8 | €3,990 | €3,990 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €3,990 | €3,990 | = | 0.0% |
| Current assets | 29/58 | €7,670,554 | €7,357,579 | -€312,975 | -4.1% |
| Stocks and contracts in progress | 3 | €393,853 | €92,154 | -€301,699 | -76.6% |
| Stocks | 30/36 | €393,853 | €92,154 | -€301,699 | -76.6% |
| Work in progress | 32 | €58,775 | €3,144 | -€55,631 | -94.7% |
| Goods purchased for resale | 34 | €335,078 | €89,010 | -€246,068 | -73.4% |
| Amounts receivable within one year | 40/41 | €7,245,115 | €7,253,330 | +€8,215 | +0.1% |
| Trade receivables | 40 | €5,595,018 | €6,455,754 | +€860,736 | +15.4% |
| Other amounts receivable | 41 | €1,650,097 | €797,576 | -€852,521 | -51.7% |
| Deferred charges and accrued income | 490/1 | €31,586 | €12,095 | -€19,491 | -61.7% |
| Total equity and liabilities | 10/49 | €7,711,160 | €7,417,049 | -€294,111 | -3.8% |
| Equity | 10/15 | €1,025,157 | €1,277,969 | +€252,812 | +24.7% |
| Contributions | 10/11 | €327,147 | €327,147 | = | 0.0% |
| Capital | 10 | €327,147 | €327,147 | = | 0.0% |
| Issued capital | 100 | €327,147 | €327,147 | = | 0.0% |
| Reserves | 13 | €65,471 | €65,471 | = | 0.0% |
| Non-distributable reserves | 130/1 | €36,999 | €36,999 | = | 0.0% |
| Legal reserve | 130 | €32,715 | €32,715 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,284 | €4,284 | = | 0.0% |
| Other | 1319 | €0 | - | = | |
| Tax-exempt reserves | 132 | €28,471 | €28,471 | = | 0.0% |
| Profit (loss) carried forward | 14 | €632,539 | €885,351 | +€252,812 | +40.0% |
| Provisions and deferred taxes | 16 | €74,125 | €25,438 | -€48,687 | -65.7% |
| Provisions for liabilities and charges | 160/5 | €74,125 | €25,438 | -€48,687 | -65.7% |
| Other liabilities and charges | 164/5 | €74,125 | €25,438 | -€48,687 | -65.7% |
| Amounts payable | 17/49 | €6,611,878 | €6,113,642 | -€498,236 | -7.5% |
| Amounts payable after more than one year | 17 | €2,000,000 | €2,000,000 | = | 0.0% |
| Other amounts payable | 178/9 | €2,000,000 | €2,000,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €4,428,207 | €3,902,143 | -€526,063 | -11.9% |
| Trade debts | 44 | €971,353 | €1,232,015 | +€260,661 | +26.8% |
| Suppliers | 440/4 | €971,353 | €1,232,015 | +€260,661 | +26.8% |
| Taxes, remuneration and social security | 45 | €1,808,919 | €1,554,413 | -€254,505 | -14.1% |
| Taxes | 450/3 | €323,663 | €654,625 | +€330,962 | +102.3% |
| Remuneration and social security | 454/9 | €1,485,256 | €899,789 | -€585,467 | -39.4% |
| Other amounts payable | 47/48 | €1,647,935 | €1,115,715 | -€532,219 | -32.3% |
| Accrued charges and deferred income | 492/3 | €183,671 | €211,499 | +€27,828 | +15.2% |
| Operating income | 70/76A | €35,013,160 | €34,581,979 | -€431,181 | -1.2% |
| Turnover | 70 | €32,334,145 | €32,001,848 | -€332,297 | -1.0% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€15,259 | -€55,631 | -€40,372 | -264.6% |
| Other operating income | 74 | €2,694,274 | €2,635,761 | -€58,513 | -2.2% |
| Operating charges | 60/66A | €34,126,187 | €32,590,725 | -€1.5m | -4.5% |
| Goods for resale, raw materials and consumables | 60 | €24,281,792 | €24,662,067 | +€380,276 | +1.6% |
| Purchases | 600/8 | €24,279,072 | €24,423,902 | +€144,830 | +0.6% |
| Change in stocks: decrease (increase) | 609 | €2,720 | €238,166 | +€235,445 | +8656.0% |
| Services and other goods | 61 | €1,429,078 | €1,200,837 | -€228,241 | -16.0% |
| Remuneration, social security and pensions | 62 | €6,559,957 | €5,230,059 | -€1.3m | -20.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,554 | €20,873 | +€319 | +1.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,873 | -€45,061 | -€55,934 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €66,283 | -€48,687 | -€114,970 | |
| Other operating charges | 640/8 | €1,757,650 | €1,570,637 | -€187,013 | -10.6% |
| Operating profit (loss) | 9901 | €886,973 | €1,991,254 | +€1.1m | +124.5% |
| Financial income | 75/76B | €308 | €1,785 | +€1,477 | +479.4% |
| Recurring financial income | 75 | €308 | €1,785 | +€1,477 | +479.4% |
| Other financial income | 752/9 | €308 | €1,785 | +€1,477 | +479.4% |
| Financial charges | 65/66B | €205,348 | €203,865 | -€1,483 | -0.7% |
| Recurring financial charges | 65 | €205,348 | €203,865 | -€1,483 | -0.7% |
| Debt charges | 650 | €107,103 | €110,845 | +€3,743 | +3.5% |
| Other financial charges | 652/9 | €98,245 | €93,020 | -€5,225 | -5.3% |
| Profit (loss) for the period before taxes | 9903 | €681,933 | €1,789,173 | +€1.1m | +162.4% |
| Income taxes | 67/77 | €249,442 | €424,362 | +€174,920 | +70.1% |
| Taxes | 670/3 | €249,442 | €442,612 | +€193,170 | +77.4% |
| Tax adjustments and reversals of tax provisions | 77 | - | €18,250 | +€18,250 | |
| Profit (loss) for the period | 9904 | €432,491 | €1,364,812 | +€932,321 | +215.6% |
| Profit (loss) for the period to be appropriated | 9905 | €432,491 | €1,364,812 | +€932,321 | +215.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.