DEN AREND: 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 AREND
Largest movements
- Cash +€136,077
up €136,077 (+360%), from €37,824 to €173,900
mainly Net result for the year (+€55,290) and Other debts (+€50,350)
- Tangible fixed assets -€48,952
down €48,952 (-8.0%), from €614,729 to €565,777
of which Land and buildings: -€42,460
- Receivables within one year -€13,350
down €13,350 (-29.2%), from €45,712 to €32,362
of which Trade receivables: -€11,464
- Other debts +€50,350
new in 2025: €50,350
- Tax, wage and social debts +€16,905
up €16,905 (+438%), from €3,861 to €20,766
- Gross operating margin +€33,897
up €33,897 (+31.2%), from €108,763 to €142,660
- Taxes +€17,573
up €17,573 (+205%), from €8,555 to €26,128
- Depreciation +€3,138
up €3,138 (+6.8%), from €45,815 to €48,952
- Other operating charges +€1,918
up €1,918 (+18.1%), from €10,577 to €12,494
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 | €708,638 | €781,588 | +€72,950 | +10.3% |
| Fixed assets | 21/28 | €617,489 | €568,537 | -€48,952 | -7.9% |
| Tangible fixed assets | 22/27 | €614,729 | €565,777 | -€48,952 | -8.0% |
| Land and buildings | 22 | €604,126 | €561,666 | -€42,460 | -7.0% |
| Plant, machinery and equipment | 23 | €10,603 | €4,111 | -€6,492 | -61.2% |
| Financial fixed assets | 28 | €2,760 | €2,760 | = | 0.0% |
| Current assets | 29/58 | €91,149 | €213,052 | +€121,902 | +134% |
| Amounts receivable within one year | 40/41 | €45,712 | €32,362 | -€13,350 | -29.2% |
| Trade receivables | 40 | €37,834 | €26,370 | -€11,464 | -30.3% |
| Other amounts receivable | 41 | €7,878 | €5,992 | -€1,886 | -23.9% |
| Cash at bank and in hand | 54/58 | €37,824 | €173,900 | +€136,077 | +360% |
| Deferred charges and accrued income | 490/1 | €7,614 | €6,790 | -€824 | -10.8% |
| Total equity and liabilities | 10/49 | €708,638 | €781,588 | +€72,950 | +10.3% |
| Equity | 10/15 | €691,231 | €693,521 | +€2,290 | +0.3% |
| Contributions | 10/11 | €19,734 | €19,734 | = | 0.0% |
| Reserves | 13 | €671,497 | €673,786 | +€2,290 | +0.3% |
| Distributable reserves | 133 | €671,497 | €673,786 | +€2,290 | +0.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €17,407 | €88,068 | +€70,660 | +406% |
| Amounts payable after more than one year | 17 | €3,900 | €5,900 | +€2,000 | +51.3% |
| Other amounts payable | 178/9 | €3,900 | €5,900 | +€2,000 | +51.3% |
| Amounts payable within one year | 42/48 | €8,792 | €77,287 | +€68,494 | +779% |
| Trade debts | 44 | €4,931 | €6,171 | +€1,239 | +25.1% |
| Suppliers | 440/4 | €4,931 | €6,171 | +€1,239 | +25.1% |
| Taxes, remuneration and social security | 45 | €3,861 | €20,766 | +€16,905 | +438% |
| Taxes | 450/3 | €3,861 | €20,766 | +€16,905 | +438% |
| Other amounts payable | 47/48 | - | €50,350 | +€50,350 | |
| Accrued charges and deferred income | 492/3 | €4,715 | €4,881 | +€166 | +3.5% |
| Non-recurring operating income | 76A | - | €30,000 | +€30,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,815 | €48,952 | +€3,138 | +6.8% |
| Other operating charges | 640/8 | €10,577 | €12,494 | +€1,918 | +18.1% |
| Non-recurring operating charges | 66A | €26,100 | €0 | -€26,100 | -100% |
| Gross operating margin | 9900 | €108,763 | €142,660 | +€33,897 | +31.2% |
| Operating profit (loss) | 9901 | €26,272 | €81,214 | +€54,942 | +209% |
| Financial income | 75/76B | €763 | €214 | -€549 | -71.9% |
| Recurring financial income | 75 | €763 | €214 | -€549 | -71.9% |
| Financial charges | 65/66B | €10 | €11 | +€0 | +0.4% |
| Recurring financial charges | 65 | €10 | €11 | +€0 | +0.4% |
| Profit (loss) for the period before taxes | 9903 | €27,024 | €81,418 | +€54,393 | +201% |
| Income taxes | 67/77 | €8,555 | €26,128 | +€17,573 | +205% |
| Profit (loss) for the period | 9904 | €18,469 | €55,290 | +€36,821 | +199% |
| Profit (loss) for the period to be appropriated | 9905 | €18,469 | €55,290 | +€36,821 | +199% |
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 14 October 2026 via checked.be.