DEN BEER: 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 BEER
Largest movements
- Receivables within one year +€32,578
up €32,578 (+56.1%), from €58,100 to €90,678
of which Trade receivables: +€29,440
- Cash -€16,124
down €16,124 (-21.4%), from €75,228 to €59,104
mainly Receivables within one year (-€32,578) and Current portion of long-term debt (-€28,397)
- Deferred charges and accrued income -€5,660
down €5,660 (-31.5%), from €17,987 to €12,327
- Tangible fixed assets -€4,964
down €4,964 (-24.5%), from €20,279 to €15,314
of which Other tangible fixed assets: -€3,434
- Stocks and contracts +€2,950
up €2,950 (+22.6%), from €13,057 to €16,007
- Current portion of long-term debt -€28,397
no longer reported in 2025 (was €28,397)
- Profit (loss) carried forward +€17,962
up €17,962 (+338%), from €5,318 to €23,280
- Short-term financial debts +€15,390
new in 2025: €15,390
- Tax, wage and social debts +€4,626
up €4,626 (+9.5%), from €48,886 to €53,512
of which Taxes: +€4,958
- Staff costs -€17,444
down €17,444 (-4.2%), from €415,687 to €398,243
- Gross operating margin -€9,399
down €9,399 (-2.1%), from €437,854 to €428,455
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 | €192,233 | €201,013 | +€8,780 | +4.6% |
| Fixed assets | 21/28 | €27,861 | €22,897 | -€4,964 | -17.8% |
| Tangible fixed assets | 22/27 | €20,279 | €15,314 | -€4,964 | -24.5% |
| Plant, machinery and equipment | 23 | €4,788 | €2,220 | -€2,569 | -53.6% |
| Furniture and vehicles | 24 | €976 | €2,014 | +€1,038 | +106% |
| Other tangible fixed assets | 26 | €14,514 | €11,080 | -€3,434 | -23.7% |
| Financial fixed assets | 28 | €7,582 | €7,582 | = | 0.0% |
| Current assets | 29/58 | €164,372 | €178,116 | +€13,744 | +8.4% |
| Stocks and contracts in progress | 3 | €13,057 | €16,007 | +€2,950 | +22.6% |
| Stocks | 30/36 | €13,057 | €16,007 | +€2,950 | +22.6% |
| Amounts receivable within one year | 40/41 | €58,100 | €90,678 | +€32,578 | +56.1% |
| Trade receivables | 40 | - | €29,440 | +€29,440 | |
| Other amounts receivable | 41 | €58,100 | €61,238 | +€3,138 | +5.4% |
| Cash at bank and in hand | 54/58 | €75,228 | €59,104 | -€16,124 | -21.4% |
| Deferred charges and accrued income | 490/1 | €17,987 | €12,327 | -€5,660 | -31.5% |
| Total equity and liabilities | 10/49 | €192,233 | €201,013 | +€8,780 | +4.6% |
| Equity | 10/15 | €71,568 | €89,530 | +€17,962 | +25.1% |
| Contributions | 10/11 | €37,184 | €37,184 | = | 0.0% |
| Reserves | 13 | €29,066 | €29,066 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,718 | €3,718 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,718 | €3,718 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €6,598 | €6,598 | = | 0.0% |
| Profit (loss) carried forward | 14 | €5,318 | €23,280 | +€17,962 | +338% |
| Amounts payable | 17/49 | €120,665 | €111,483 | -€9,182 | -7.6% |
| Amounts payable within one year | 42/48 | €120,665 | €111,483 | -€9,182 | -7.6% |
| Current portion of amounts payable after more than one year | 42 | €28,397 | - | -€28,397 | |
| Financial debts | 43 | - | €15,390 | +€15,390 | |
| Credit institutions | 430/8 | - | €15,390 | +€15,390 | |
| Trade debts | 44 | €43,381 | €42,580 | -€801 | -1.8% |
| Suppliers | 440/4 | €43,381 | €42,580 | -€801 | -1.8% |
| Taxes, remuneration and social security | 45 | €48,886 | €53,512 | +€4,626 | +9.5% |
| Taxes | 450/3 | €4,749 | €9,707 | +€4,958 | +104% |
| Remuneration and social security | 454/9 | €44,137 | €43,805 | -€332 | -0.8% |
| Non-recurring operating income | 76A | - | €2,188 | +€2,188 | |
| Remuneration, social security and pensions | 62 | €415,687 | €398,243 | -€17,444 | -4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,570 | €7,382 | +€1,812 | +32.5% |
| Other operating charges | 640/8 | €922 | €1,386 | +€464 | +50.3% |
| Gross operating margin | 9900 | €437,854 | €428,455 | -€9,399 | -2.1% |
| Operating profit (loss) | 9901 | €15,676 | €21,445 | +€5,770 | +36.8% |
| Financial income | 75/76B | €2,734 | €3,316 | +€582 | +21.3% |
| Recurring financial income | 75 | €2,734 | €3,316 | +€582 | +21.3% |
| Financial charges | 65/66B | €3,249 | €3,125 | -€124 | -3.8% |
| Recurring financial charges | 65 | €3,249 | €3,125 | -€124 | -3.8% |
| Profit (loss) for the period before taxes | 9903 | €15,161 | €21,636 | +€6,476 | +42.7% |
| Income taxes | 67/77 | €2,388 | €3,674 | +€1,286 | +53.8% |
| Profit (loss) for the period | 9904 | €12,772 | €17,962 | +€5,190 | +40.6% |
| Profit (loss) for the period to be appropriated | 9905 | €12,772 | €17,962 | +€5,190 | +40.6% |
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 29 October 2026 via checked.be.