DEN: 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.
DEN
Largest movements
- Tangible fixed assets -€13,886
down €13,886 (-26.1%), from €53,307 to €39,420
of which Furniture and vehicles: -€15,499
- Receivables within one year +€7,865
up €7,865 (+22.3%), from €35,241 to €43,107
of which Trade receivables: +€15,812
- Cash -€5,610
down €5,610 (-17.1%), from €32,749 to €27,138
mainly Trade debts (-€17,007) and Tax, wage and social debts (-€13,405)
- Profit (loss) carried forward +€22,857
up €22,857 (+33.0%), from €69,242 to €92,099
- Trade debts -€17,007
down €17,007 (-98.6%), from €17,250 to €243
- Tax, wage and social debts -€13,405
down €13,405 (-62.4%), from €21,477 to €8,072
of which Taxes: -€7,105
- Current portion of long-term debt -€3,547
down €3,547 (-42.6%), from €8,328 to €4,781
- Gross operating margin -€30,927
down €30,927 (-36.3%), from €85,110 to €54,184
- Taxes -€7,105
down €7,105 (-46.8%), from €15,177 to €8,072
- Other operating charges +€5,488
up €5,488 (+3,064%), from €179 to €5,667
- Depreciation +€4,542
up €4,542 (+35.9%), from €12,634 to €17,175
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 | €121,297 | €110,195 | -€11,102 | -9.2% |
| Fixed assets | 21/28 | €53,307 | €39,420 | -€13,886 | -26.1% |
| Tangible fixed assets | 22/27 | €53,307 | €39,420 | -€13,886 | -26.1% |
| Plant, machinery and equipment | 23 | €3,333 | €4,946 | +€1,613 | +48.4% |
| Furniture and vehicles | 24 | €49,974 | €34,474 | -€15,499 | -31.0% |
| Current assets | 29/58 | €67,990 | €70,775 | +€2,785 | +4.1% |
| Amounts receivable within one year | 40/41 | €35,241 | €43,107 | +€7,865 | +22.3% |
| Trade receivables | 40 | €25,619 | €41,431 | +€15,812 | +61.7% |
| Other amounts receivable | 41 | €9,622 | €1,675 | -€7,947 | -82.6% |
| Cash at bank and in hand | 54/58 | €32,749 | €27,138 | -€5,610 | -17.1% |
| Deferred charges and accrued income | 490/1 | - | €530 | +€530 | |
| Total equity and liabilities | 10/49 | €121,297 | €110,195 | -€11,102 | -9.2% |
| Equity | 10/15 | €74,242 | €97,099 | +€22,857 | +30.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €69,242 | €92,099 | +€22,857 | +33.0% |
| Amounts payable | 17/49 | €47,055 | €13,096 | -€33,959 | -72.2% |
| Amounts payable within one year | 42/48 | €47,055 | €13,096 | -€33,959 | -72.2% |
| Current portion of amounts payable after more than one year | 42 | €8,328 | €4,781 | -€3,547 | -42.6% |
| Trade debts | 44 | €17,250 | €243 | -€17,007 | -98.6% |
| Suppliers | 440/4 | €17,250 | €243 | -€17,007 | -98.6% |
| Taxes, remuneration and social security | 45 | €21,477 | €8,072 | -€13,405 | -62.4% |
| Taxes | 450/3 | €15,177 | €8,072 | -€7,105 | -46.8% |
| Remuneration and social security | 454/9 | €6,300 | - | -€6,300 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,634 | €17,175 | +€4,542 | +35.9% |
| Other operating charges | 640/8 | €179 | €5,667 | +€5,488 | +3,064% |
| Gross operating margin | 9900 | €85,110 | €54,184 | -€30,927 | -36.3% |
| Operating profit (loss) | 9901 | €72,298 | €31,341 | -€40,956 | -56.6% |
| Financial income | 75/76B | €4 | €155 | +€151 | +3,911% |
| Recurring financial income | 75 | €4 | €155 | +€151 | +3,911% |
| Financial charges | 65/66B | €1,086 | €567 | -€519 | -47.8% |
| Recurring financial charges | 65 | €1,086 | €567 | -€519 | -47.8% |
| Profit (loss) for the period before taxes | 9903 | €71,216 | €30,929 | -€40,286 | -56.6% |
| Income taxes | 67/77 | €15,177 | €8,072 | -€7,105 | -46.8% |
| Profit (loss) for the period | 9904 | €56,039 | €22,857 | -€33,181 | -59.2% |
| Profit (loss) for the period to be appropriated | 9905 | €56,039 | €22,857 | -€33,181 | -59.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.