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
- Tangible fixed assets -€32,856
down €32,856 (-42.5%), from €77,267 to €44,411
of which Plant, machinery and equipment: -€24,367
- Receivables within one year +€30,976
up €30,976 (+55.9%), from €55,381 to €86,357
of which Other amounts receivable: +€29,892
- Cash -€6,606
down €6,606 (-54.7%), from €12,067 to €5,461
mainly Receivables within one year (-€30,976) and Net result for the year (-€11,748)
- Profit (loss) carried forward -€11,748
down €11,748 (-15.5%), from -€75,788 to -€87,536
- Current portion of long-term debt -€7,129
no longer reported in 2025 (was €7,129)
- Other debts +€4,390
up €4,390 (+5.6%), from €78,228 to €82,618
- Accrued charges and deferred income +€3,000
new in 2025: €3,000
- Gross operating margin -€23,138
down €23,138 (-43.2%), from €53,573 to €30,436
- Other operating charges -€7,385
down €7,385 (-63.5%), from €11,629 to €4,243
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 | €155,322 | €146,168 | -€9,154 | -5.9% |
| Fixed assets | 21/28 | €86,508 | €53,652 | -€32,856 | -38.0% |
| Tangible fixed assets | 22/27 | €77,267 | €44,411 | -€32,856 | -42.5% |
| Land and buildings | 22 | €38,506 | €30,017 | -€8,489 | -22.0% |
| Plant, machinery and equipment | 23 | €38,761 | €14,394 | -€24,367 | -62.9% |
| Financial fixed assets | 28 | €9,241 | €9,241 | = | 0.0% |
| Current assets | 29/58 | €68,814 | €92,516 | +€23,702 | +34.4% |
| Amounts receivable within one year | 40/41 | €55,381 | €86,357 | +€30,976 | +55.9% |
| Trade receivables | 40 | - | €1,085 | +€1,085 | |
| Other amounts receivable | 41 | €55,381 | €85,273 | +€29,892 | +54.0% |
| Cash at bank and in hand | 54/58 | €12,067 | €5,461 | -€6,606 | -54.7% |
| Deferred charges and accrued income | 490/1 | €1,366 | €697 | -€669 | -49.0% |
| Total equity and liabilities | 10/49 | €155,322 | €146,168 | -€9,154 | -5.9% |
| Equity | 10/15 | €41,712 | €29,964 | -€11,748 | -28.2% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €92,500 | €92,500 | = | 0.0% |
| Distributable reserves | 133 | €92,500 | €92,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€75,788 | -€87,536 | -€11,748 | -15.5% |
| Amounts payable | 17/49 | €113,609 | €116,203 | +€2,594 | +2.3% |
| Amounts payable within one year | 42/48 | €113,609 | €113,203 | -€406 | -0.4% |
| Current portion of amounts payable after more than one year | 42 | €7,129 | - | -€7,129 | |
| Financial debts | 43 | €4,863 | €5,141 | +€278 | +5.7% |
| Credit institutions | 430/8 | €4,863 | €5,141 | +€278 | +5.7% |
| Trade debts | 44 | €19,144 | €20,505 | +€1,361 | +7.1% |
| Suppliers | 440/4 | €19,144 | €20,505 | +€1,361 | +7.1% |
| Advances received on contracts in progress | 46 | €2,594 | €2,118 | -€476 | -18.4% |
| Taxes, remuneration and social security | 45 | €1,651 | €2,821 | +€1,170 | +70.9% |
| Taxes | 450/3 | €1,651 | €2,821 | +€1,170 | +70.9% |
| Other amounts payable | 47/48 | €78,228 | €82,618 | +€4,390 | +5.6% |
| Accrued charges and deferred income | 492/3 | - | €3,000 | +€3,000 | |
| Remuneration, social security and pensions | 62 | -€394 | - | +€394 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,628 | €38,448 | -€181 | -0.5% |
| Other operating charges | 640/8 | €11,629 | €4,243 | -€7,385 | -63.5% |
| Gross operating margin | 9900 | €53,573 | €30,436 | -€23,138 | -43.2% |
| Operating profit (loss) | 9901 | €3,711 | -€12,255 | -€15,966 | |
| Financial income | 75/76B | €1,364 | €1,649 | +€285 | +20.9% |
| Recurring financial income | 75 | €1,364 | €1,649 | +€285 | +20.9% |
| Financial charges | 65/66B | €1,599 | €1,142 | -€457 | -28.6% |
| Recurring financial charges | 65 | €1,599 | €1,142 | -€457 | -28.6% |
| Profit (loss) for the period before taxes | 9903 | €3,476 | -€11,748 | -€15,224 | |
| Profit (loss) for the period | 9904 | €3,476 | -€11,748 | -€15,224 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,476 | -€11,748 | -€15,224 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.