DE TENDER: what changed
What changed
DE TENDER
NACE 43.320, Joinery installation
filed annual accounts (NBB)
Net result for the year
€93,104
2025 · -€41,734+€134,838
Equity
€456,461
2025 · €388,357+€68,104
Cash
€600,008
2025 · €439,641+€160,367
Balance sheet total
€4.8m
2025 · €4.9m-€103,911
Largest movements
Assets
- Receivables within one year -€261,609
down €261,609 (-7.3%), from €3.6m to €3.3m
of which Trade receivables: -€187,705
- Cash +€160,367
up €160,367 (+36.5%), from €439,641 to €600,008
mainly Debts after one year (+€1.9m) and Receivables within one year (+€261,609)
- Tangible fixed assets -€112,074
down €112,074 (-30.8%), from €363,800 to €251,727
of which Plant, machinery and equipment: -€70,385
- Stocks and contracts +€69,204
up €69,204 (+15.2%), from €456,133 to €525,337
of which Contracts in progress: +€70,724
- Deferred charges and accrued income +€57,396
up €57,396 (+266%), from €21,560 to €78,956
Equity and liabilities
- Debts after one year +€1.9m
up €1.9m (+60,023%), from €3,210 to €1.9m
- Other debts -€1.8m
down €1.8m (-95.7%), from €1.9m to €81,091
- Advances received -€134,480
down €134,480 (-43.4%), from €310,129 to €175,649
- Trade debts -€113,417
down €113,417 (-5.7%), from €2.0m to €1.9m
- Current portion of long-term debt -€76,826
down €76,826 (-78.5%), from €97,815 to €20,989
Income statement
- Gross operating margin +€484,258
up €484,258 (+21.4%), from €2.3m to €2.7m
- Staff costs +€350,921
up €350,921 (+17.9%), from €2.0m to €2.3m
- Taxes +€27,497
up €27,497 (+4,283%), from €642 to €28,139
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
-€41,734
Gross operating margin
+€484,258
Staff costs
-€350,921
Depreciation
-€4,183
Write-downs
-€3,602
Other operating charges
-€5,607
Other operating items
+€49,068
Financial income
-€8,318
Financial charges
+€1,640
Taxes
-€27,497
Result 2026
€93,104
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€1.6m
Investment
-€57,491
Financing
+€1.8m
Cash 2025
€439,641
From operations (derived)
-€1.6m
Net result for the year
+€93,104
Depreciation
+€186,760
Stocks and contracts
-€69,204
Receivables within one year
+€261,609
Deferred charges and accrued income
-€57,396
Trade debts
-€113,417
Tax, wage and social debts
+€39,024
Advances received
-€134,480
Other debts
-€1.8m
Accrued charges and deferred income
-€1,418
Investment (derived)
-€57,491
Investment in fixed assets (net)
-€57,491
Financing
+€1.8m
Debts after one year
+€1.9m
Current portion of long-term debt
-€76,826
Contributions, distributions and other
-€25,000
Cash 2026
€600,008
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,938,092 | €4,834,181 | -€103,911 | -2.1% |
| Fixed assets | 21/28 | €453,198 | €323,929 | -€129,269 | -28.5% |
| Intangible fixed assets | 21 | €53,707 | €36,512 | -€17,195 | -32.0% |
| Tangible fixed assets | 22/27 | €363,800 | €251,727 | -€112,074 | -30.8% |
| Land and buildings | 22 | €137,652 | €108,089 | -€29,563 | -21.5% |
| Plant, machinery and equipment | 23 | €164,563 | €94,178 | -€70,385 | -42.8% |
| Furniture and vehicles | 24 | €32,006 | €23,451 | -€8,554 | -26.7% |
| Other tangible fixed assets | 26 | €29,580 | €26,009 | -€3,571 | -12.1% |
| Financial fixed assets | 28 | €35,690 | €35,690 | = | 0.0% |
| Current assets | 29/58 | €4,484,894 | €4,510,252 | +€25,358 | +0.6% |
| Stocks and contracts in progress | 3 | €456,133 | €525,337 | +€69,204 | +15.2% |
| Stocks | 30/36 | €382,848 | €381,327 | -€1,521 | -0.4% |
| Contracts in progress | 37 | €73,285 | €144,010 | +€70,724 | +96.5% |
| Amounts receivable within one year | 40/41 | €3,564,685 | €3,303,076 | -€261,609 | -7.3% |
| Trade receivables | 40 | €3,354,271 | €3,166,566 | -€187,705 | -5.6% |
| Other amounts receivable | 41 | €210,414 | €136,510 | -€73,904 | -35.1% |
| Current investments | 50/53 | €2,875 | €2,875 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €439,641 | €600,008 | +€160,367 | +36.5% |
| Deferred charges and accrued income | 490/1 | €21,560 | €78,956 | +€57,396 | +266% |
| Total equity and liabilities | 10/49 | €4,938,092 | €4,834,181 | -€103,911 | -2.1% |
| Equity | 10/15 | €388,357 | €456,461 | +€68,104 | +17.5% |
| Contributions | 10/11 | €86,763 | €86,763 | = | 0.0% |
| Reserves | 13 | €301,594 | €369,698 | +€68,104 | +22.6% |
| Distributable reserves | 133 | €301,594 | €369,698 | +€68,104 | +22.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €4,549,735 | €4,377,720 | -€172,015 | -3.8% |
| Amounts payable after more than one year | 17 | €3,210 | €1,930,070 | +€1.9m | +60,023% |
| Financial debts | 170/4 | €3,210 | €1,930,070 | +€1.9m | +60,023% |
| Amounts payable within one year | 42/48 | €4,543,814 | €2,446,357 | -€2.1m | -46.2% |
| Current portion of amounts payable after more than one year | 42 | €97,815 | €20,989 | -€76,826 | -78.5% |
| Trade debts | 44 | €1,993,419 | €1,880,002 | -€113,417 | -5.7% |
| Suppliers | 440/4 | €1,993,419 | €1,880,002 | -€113,417 | -5.7% |
| Advances received on contracts in progress | 46 | €310,129 | €175,649 | -€134,480 | -43.4% |
| Taxes, remuneration and social security | 45 | €249,602 | €288,626 | +€39,024 | +15.6% |
| Taxes | 450/3 | €13,690 | €18,644 | +€4,954 | +36.2% |
| Remuneration and social security | 454/9 | €235,912 | €269,982 | +€34,070 | +14.4% |
| Other amounts payable | 47/48 | €1,892,849 | €81,091 | -€1.8m | -95.7% |
| Accrued charges and deferred income | 492/3 | €2,710 | €1,292 | -€1,418 | -52.3% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €1,965,007 | €2,315,928 | +€350,921 | +17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €182,577 | €186,760 | +€4,183 | +2.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €20,000 | €23,602 | +€3,602 | +18.0% |
| Other operating charges | 640/8 | €15,323 | €20,929 | +€5,607 | +36.6% |
| Non-recurring operating charges | 66A | €56,185 | €7,117 | -€49,068 | -87.3% |
| Gross operating margin | 9900 | €2,259,408 | €2,743,666 | +€484,258 | +21.4% |
| Operating profit (loss) | 9901 | €20,317 | €189,330 | +€169,013 | +832% |
| Financial income | 75/76B | €12,945 | €4,627 | -€8,318 | -64.3% |
| Recurring financial income | 75 | €12,945 | €4,627 | -€8,318 | -64.3% |
| Financial charges | 65/66B | €74,354 | €72,714 | -€1,640 | -2.2% |
| Recurring financial charges | 65 | €74,354 | €72,714 | -€1,640 | -2.2% |
| Profit (loss) for the period before taxes | 9903 | -€41,092 | €121,243 | +€162,335 | |
| Income taxes | 67/77 | €642 | €28,139 | +€27,497 | +4,283% |
| Profit (loss) for the period | 9904 | -€41,734 | €93,104 | +€134,838 | |
| Profit (loss) for the period to be appropriated | 9905 | -€41,734 | €93,104 | +€134,838 |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.