DEN AAS: 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 AAS
Largest movements
- Cash -€239,502
down €239,502 (-76.4%), from €313,624 to €74,123
mainly Receivables within one year (-€200,507) and Deferred charges and accrued income (-€32,705)
- Receivables within one year +€200,507
up €200,507 (+47.7%), from €420,416 to €620,923
of which Other amounts receivable: +€197,966
- Deferred charges and accrued income +€32,705
up €32,705 (+182%), from €18,005 to €50,710
- Tangible fixed assets -€20,726
down €20,726 (-10.7%), from €192,905 to €172,179
of which Land and buildings: -€19,232
- Tax, wage and social debts -€22,171
down €22,171 (-30.6%), from €72,343 to €50,172
of which Remuneration and social security: -€24,742
- Trade debts -€9,556
down €9,556 (-49.4%), from €19,357 to €9,801
- Staff costs -€16,649
down €16,649 (-3.1%), from €532,668 to €516,020
- Gross operating margin +€6,281
up €6,281 (+1.2%), from €542,789 to €549,070
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 | €945,703 | €917,935 | -€27,768 | -2.9% |
| Fixed assets | 21/28 | €193,658 | €172,179 | -€21,479 | -11.1% |
| Intangible fixed assets | 21 | €752 | - | -€752 | |
| Tangible fixed assets | 22/27 | €192,905 | €172,179 | -€20,726 | -10.7% |
| Land and buildings | 22 | €186,803 | €167,571 | -€19,232 | -10.3% |
| Plant, machinery and equipment | 23 | €6,103 | €4,608 | -€1,494 | -24.5% |
| Current assets | 29/58 | €752,045 | €745,756 | -€6,289 | -0.8% |
| Amounts receivable within one year | 40/41 | €420,416 | €620,923 | +€200,507 | +47.7% |
| Trade receivables | 40 | - | €2,541 | +€2,541 | |
| Other amounts receivable | 41 | €420,416 | €618,382 | +€197,966 | +47.1% |
| Cash at bank and in hand | 54/58 | €313,624 | €74,123 | -€239,502 | -76.4% |
| Deferred charges and accrued income | 490/1 | €18,005 | €50,710 | +€32,705 | +182% |
| Total equity and liabilities | 10/49 | €945,703 | €917,935 | -€27,768 | -2.9% |
| Equity | 10/15 | €854,003 | €857,963 | +€3,960 | +0.5% |
| Reserves | 13 | €906,793 | €906,793 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€52,790 | -€48,831 | +€3,960 | +7.5% |
| Amounts payable | 17/49 | €91,700 | €59,972 | -€31,727 | -34.6% |
| Amounts payable within one year | 42/48 | €91,700 | €59,972 | -€31,727 | -34.6% |
| Trade debts | 44 | €19,357 | €9,801 | -€9,556 | -49.4% |
| Suppliers | 440/4 | €19,357 | €9,801 | -€9,556 | -49.4% |
| Taxes, remuneration and social security | 45 | €72,343 | €50,172 | -€22,171 | -30.6% |
| Taxes | 450/3 | €2,859 | €5,430 | +€2,571 | +89.9% |
| Remuneration and social security | 454/9 | €69,484 | €44,742 | -€24,742 | -35.6% |
| Non-recurring operating income | 76A | - | €80,135 | +€80,135 | |
| Remuneration, social security and pensions | 62 | €532,668 | €516,020 | -€16,649 | -3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,632 | €27,082 | -€2,550 | -8.6% |
| Other operating charges | 640/8 | €2,450 | €2,518 | +€68 | +2.8% |
| Gross operating margin | 9900 | €542,789 | €549,070 | +€6,281 | +1.2% |
| Operating profit (loss) | 9901 | -€21,961 | €3,450 | +€25,411 | |
| Financial income | 75/76B | €2,452 | €1,003 | -€1,449 | -59.1% |
| Recurring financial income | 75 | €2,452 | €1,003 | -€1,449 | -59.1% |
| Financial charges | 65/66B | €24 | €493 | +€470 | +1,991% |
| Recurring financial charges | 65 | €24 | €493 | +€470 | +1,991% |
| Profit (loss) for the period before taxes | 9903 | -€19,533 | €3,960 | +€23,492 | |
| Profit (loss) for the period | 9904 | -€19,533 | €3,960 | +€23,492 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,533 | €3,960 | +€23,492 |
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 16 October 2026 via checked.be.