DANTHEL PARTNERS: 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.
DANTHEL PARTNERS
Largest movements
- Tangible fixed assets +€148,167
up €148,167 (+444%), from €33,377 to €181,543
of which Furniture and vehicles: +€89,818
- Intangible fixed assets -€36,720
down €36,720 (-14.7%), from €249,705 to €212,985
- Cash +€5,530
up €5,530 (+6.6%), from €83,557 to €89,087
mainly Depreciation (+€74,303) and Debts after one year (+€53,873)
- Debts after one year +€53,873
up €53,873 (+37.0%), from €145,485 to €199,358
- Current portion of long-term debt +€44,545
up €44,545 (+98.3%), from €45,312 to €89,857
- Trade debts +€28,574
up €28,574 (+300%), from €9,519 to €38,094
- Accrued charges and deferred income -€18,212
down €18,212 (-81.7%), from €22,291 to €4,078
- Reserves +€14,622
up €14,622 (+12.3%), from €118,400 to €133,022
- Depreciation +€21,018
up €21,018 (+39.4%), from €53,285 to €74,303
- Taxes -€11,550
down €11,550 (-64.3%), from €17,953 to €6,403
- Gross operating margin -€9,483
down €9,483 (-8.1%), from €117,768 to €108,286
- Financial charges -€1,334
down €1,334 (-10.0%), from €13,321 to €11,987
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 | €424,215 | €541,090 | +€116,874 | +27.6% |
| Fixed assets | 21/28 | €283,082 | €394,529 | +€111,447 | +39.4% |
| Intangible fixed assets | 21 | €249,705 | €212,985 | -€36,720 | -14.7% |
| Tangible fixed assets | 22/27 | €33,377 | €181,543 | +€148,167 | +444% |
| Plant, machinery and equipment | 23 | €8,826 | €6,106 | -€2,719 | -30.8% |
| Furniture and vehicles | 24 | €24,551 | €114,369 | +€89,818 | +366% |
| Other tangible fixed assets | 26 | - | €61,068 | +€61,068 | |
| Current assets | 29/58 | €141,133 | €146,561 | +€5,428 | +3.8% |
| Amounts receivable within one year | 40/41 | €56,427 | €57,474 | +€1,048 | +1.9% |
| Trade receivables | 40 | €49,927 | €46,206 | -€3,721 | -7.5% |
| Other amounts receivable | 41 | €6,500 | €11,268 | +€4,768 | +73.4% |
| Cash at bank and in hand | 54/58 | €83,557 | €89,087 | +€5,530 | +6.6% |
| Deferred charges and accrued income | 490/1 | €1,150 | - | -€1,150 | |
| Total equity and liabilities | 10/49 | €424,215 | €541,090 | +€116,874 | +27.6% |
| Equity | 10/15 | €120,561 | €135,183 | +€14,622 | +12.1% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €118,400 | €133,022 | +€14,622 | +12.3% |
| Distributable reserves | 133 | €118,400 | €133,022 | +€14,622 | +12.3% |
| Profit (loss) carried forward | 14 | €161 | €161 | = | 0.0% |
| Amounts payable | 17/49 | €303,654 | €405,907 | +€102,252 | +33.7% |
| Amounts payable after more than one year | 17 | €145,485 | €199,358 | +€53,873 | +37.0% |
| Financial debts | 170/4 | €145,485 | €199,358 | +€53,873 | +37.0% |
| Amounts payable within one year | 42/48 | €135,879 | €202,470 | +€66,591 | +49.0% |
| Current portion of amounts payable after more than one year | 42 | €45,312 | €89,857 | +€44,545 | +98.3% |
| Trade debts | 44 | €9,519 | €38,094 | +€28,574 | +300% |
| Suppliers | 440/4 | €9,519 | €38,094 | +€28,574 | +300% |
| Taxes, remuneration and social security | 45 | €21,835 | €14,849 | -€6,986 | -32.0% |
| Taxes | 450/3 | €21,835 | €14,849 | -€6,986 | -32.0% |
| Other amounts payable | 47/48 | €59,212 | €59,670 | +€458 | +0.8% |
| Accrued charges and deferred income | 492/3 | €22,291 | €4,078 | -€18,212 | -81.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,285 | €74,303 | +€21,018 | +39.4% |
| Other operating charges | 640/8 | €279 | €1,160 | +€881 | +315% |
| Gross operating margin | 9900 | €117,768 | €108,286 | -€9,483 | -8.1% |
| Operating profit (loss) | 9901 | €64,204 | €32,822 | -€31,382 | -48.9% |
| Financial income | 75/76B | €729 | €191 | -€539 | -73.8% |
| Recurring financial income | 75 | €729 | €191 | -€539 | -73.8% |
| Financial charges | 65/66B | €13,321 | €11,987 | -€1,334 | -10.0% |
| Recurring financial charges | 65 | €13,321 | €11,987 | -€1,334 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | €51,612 | €21,026 | -€30,587 | -59.3% |
| Income taxes | 67/77 | €17,953 | €6,403 | -€11,550 | -64.3% |
| Profit (loss) for the period | 9904 | €33,659 | €14,622 | -€19,037 | -56.6% |
| Profit (loss) for the period to be appropriated | 9905 | €33,659 | €14,622 | -€19,037 | -56.6% |
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.