DANNEELS: 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.
DANNEELS
Largest movements
- Cash +€191,230
up €191,230 (+128%), from €149,340 to €340,570
mainly Receivables after one year (+€125,000) and Depreciation (+€83,011)
- Receivables after one year -€125,000
down €125,000 (-33.3%), from €375,000 to €250,000
- Receivables within one year -€56,336
down €56,336 (-43.8%), from €128,583 to €72,247
of which Trade receivables: -€51,248
- Tangible fixed assets -€47,371
down €47,371 (-1.3%), from €3.6m to €3.5m
of which Land and buildings: -€37,151
- Reserves +€81,204
up €81,204 (+8.1%), from €999,104 to €1.1m
of which Distributable reserves: +€123,304
- Debts after one year -€71,009
down €71,009 (-11.0%), from €642,801 to €571,793
of which Financial debts: -€56,827
- Gross operating margin -€33,571
down €33,571 (-12.9%), from €259,541 to €225,970
- Depreciation -€27,896
down €27,896 (-25.2%), from €110,907 to €83,011
- Other operating charges +€11,828
up €11,828 (+52.2%), from €22,676 to €34,504
- Financial income +€11,747
up €11,747 (+61.6%), from €19,058 to €30,804
- Write-downs -€11,251
down €11,251, from €0 to -€11,251
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 | €4,251,083 | €4,213,826 | -€37,257 | -0.9% |
| Fixed assets | 21/28 | €3,591,709 | €3,544,338 | -€47,371 | -1.3% |
| Tangible fixed assets | 22/27 | €3,591,709 | €3,544,338 | -€47,371 | -1.3% |
| Land and buildings | 22 | €3,547,785 | €3,510,634 | -€37,151 | -1.0% |
| Plant, machinery and equipment | 23 | €38,797 | €29,622 | -€9,175 | -23.6% |
| Furniture and vehicles | 24 | €5,127 | €4,082 | -€1,046 | -20.4% |
| Current assets | 29/58 | €659,374 | €669,488 | +€10,114 | +1.5% |
| Amounts receivable after more than one year | 29 | €375,000 | €250,000 | -€125,000 | -33.3% |
| Other amounts receivable | 291 | €375,000 | €250,000 | -€125,000 | -33.3% |
| Amounts receivable within one year | 40/41 | €128,583 | €72,247 | -€56,336 | -43.8% |
| Trade receivables | 40 | €65,039 | €13,791 | -€51,248 | -78.8% |
| Other amounts receivable | 41 | €63,544 | €58,456 | -€5,088 | -8.0% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €149,340 | €340,570 | +€191,230 | +128% |
| Deferred charges and accrued income | 490/1 | €6,451 | €6,670 | +€219 | +3.4% |
| Total equity and liabilities | 10/49 | €4,251,083 | €4,213,826 | -€37,257 | -0.9% |
| Equity | 10/15 | €3,332,256 | €3,413,459 | +€81,204 | +2.4% |
| Contributions | 10/11 | €2,144,000 | €2,144,000 | = | 0.0% |
| Revaluation surpluses | 12 | €189,152 | €189,152 | = | 0.0% |
| Reserves | 13 | €999,104 | €1,080,308 | +€81,204 | +8.1% |
| Tax-exempt reserves | 132 | €42,120 | €20 | -€42,100 | -100.0% |
| Distributable reserves | 133 | €956,984 | €1,080,287 | +€123,304 | +12.9% |
| Provisions and deferred taxes | 16 | €97,442 | €97,442 | = | 0.0% |
| Deferred taxes | 168 | €97,442 | €97,442 | = | 0.0% |
| Amounts payable | 17/49 | €821,386 | €702,924 | -€118,461 | -14.4% |
| Amounts payable after more than one year | 17 | €642,801 | €571,793 | -€71,009 | -11.0% |
| Financial debts | 170/4 | €509,325 | €452,498 | -€56,827 | -11.2% |
| Other amounts payable | 178/9 | €133,477 | €119,295 | -€14,182 | -10.6% |
| Amounts payable within one year | 42/48 | €170,411 | €119,658 | -€50,753 | -29.8% |
| Current portion of amounts payable after more than one year | 42 | €87,216 | €56,827 | -€30,389 | -34.8% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €30,592 | €18,516 | -€12,076 | -39.5% |
| Suppliers | 440/4 | €30,592 | €18,516 | -€12,076 | -39.5% |
| Taxes, remuneration and social security | 45 | €38,309 | €29,320 | -€8,989 | -23.5% |
| Taxes | 450/3 | €38,309 | €29,320 | -€8,989 | -23.5% |
| Other amounts payable | 47/48 | €14,294 | €14,996 | +€702 | +4.9% |
| Accrued charges and deferred income | 492/3 | €8,173 | €11,474 | +€3,301 | +40.4% |
| Non-recurring operating income | 76A | €4,398 | €0 | -€4,398 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €110,907 | €83,011 | -€27,896 | -25.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€11,251 | -€11,251 | |
| Other operating charges | 640/8 | €22,676 | €34,504 | +€11,828 | +52.2% |
| Gross operating margin | 9900 | €259,541 | €225,970 | -€33,571 | -12.9% |
| Operating profit (loss) | 9901 | €125,958 | €119,706 | -€6,252 | -5.0% |
| Financial income | 75/76B | €19,058 | €30,804 | +€11,747 | +61.6% |
| Recurring financial income | 75 | €19,058 | €30,804 | +€11,747 | +61.6% |
| Financial charges | 65/66B | €40,141 | €30,149 | -€9,992 | -24.9% |
| Recurring financial charges | 65 | €40,141 | €30,149 | -€9,992 | -24.9% |
| Profit (loss) for the period before taxes | 9903 | €104,874 | €120,361 | +€15,487 | +14.8% |
| Income taxes | 67/77 | €30,058 | €39,158 | +€9,099 | +30.3% |
| Profit (loss) for the period | 9904 | €74,816 | €81,204 | +€6,388 | +8.5% |
| Transfer from tax-exempt reserves | 789 | - | €42,100 | +€42,100 | |
| Profit (loss) for the period to be appropriated | 9905 | €74,816 | €123,304 | +€48,488 | +64.8% |
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 20 October 2026 via checked.be.