DEN BEMD: what changed
Two fiscal 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 BEMD
Largest movements
- Cash +€13,574
up €13,574 (+29.3%), from €46,377 to €59,951
mainly Depreciation (+€52,611) and Debts after one year (+€18,750)
- Receivables within one year -€11,028
down €11,028 (-74.5%), from €14,809 to €3,781
of which Trade receivables: -€10,796
- Tangible fixed assets -€6,493
down €6,493 (-7.7%), from €84,830 to €78,337
of which Other tangible fixed assets: -€38,124
- Profit (loss) carried forward -€20,773
down €20,773 (-43.1%), from -€48,239 to -€69,013
- Debts after one year +€18,750
up €18,750 (+12.5%), from €149,688 to €168,438
of which Other amounts payable: +€30,000
- Other debts -€2,450
down €2,450 (-48.1%), from €5,092 to €2,641
- Gross operating margin -€3,347
down €3,347 (-8.7%), from €38,650 to €35,303
- Depreciation +€3,272
up €3,272 (+6.6%), from €49,339 to €52,611
- Financial income +€464
up €464 (+356.6%), from €130 to €594
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.
Cash bridge derived
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 | €150,604 | €146,772 | -€3,832 | -2.5% |
| Fixed assets | 21/28 | €87,955 | €80,962 | -€6,993 | -8.0% |
| Intangible fixed assets | 21 | €3,125 | €2,625 | -€500 | -16.0% |
| Tangible fixed assets | 22/27 | €84,830 | €78,337 | -€6,493 | -7.7% |
| Plant, machinery and equipment | 23 | €21,578 | €15,946 | -€5,633 | -26.1% |
| Furniture and vehicles | 24 | €293 | €37,557 | +€37,264 | +12722.9% |
| Other tangible fixed assets | 26 | €62,959 | €24,834 | -€38,124 | -60.6% |
| Current assets | 29/58 | €62,649 | €65,810 | +€3,161 | +5.0% |
| Amounts receivable within one year | 40/41 | €14,809 | €3,781 | -€11,028 | -74.5% |
| Trade receivables | 40 | €11,280 | €484 | -€10,796 | -95.7% |
| Other amounts receivable | 41 | €3,529 | €3,297 | -€232 | -6.6% |
| Cash at bank and in hand | 54/58 | €46,377 | €59,951 | +€13,574 | +29.3% |
| Deferred charges and accrued income | 490/1 | €1,463 | €2,078 | +€615 | +42.1% |
| Total equity and liabilities | 10/49 | €150,604 | €146,772 | -€3,832 | -2.5% |
| Equity | 10/15 | -€16,809 | -€37,582 | -€20,773 | -123.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €19,031 | €19,031 | = | 0.0% |
| Distributable reserves | 133 | €19,031 | €19,031 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,239 | -€69,013 | -€20,773 | -43.1% |
| Amounts payable | 17/49 | €167,413 | €184,354 | +€16,942 | +10.1% |
| Amounts payable after more than one year | 17 | €149,688 | €168,438 | +€18,750 | +12.5% |
| Financial debts | 170/4 | €19,688 | €8,438 | -€11,250 | -57.1% |
| Other amounts payable | 178/9 | €130,000 | €160,000 | +€30,000 | +23.1% |
| Amounts payable within one year | 42/48 | €17,725 | €15,917 | -€1,808 | -10.2% |
| Current portion of amounts payable after more than one year | 42 | €11,250 | €11,250 | = | 0.0% |
| Trade debts | 44 | €1,286 | €1,564 | +€278 | +21.6% |
| Suppliers | 440/4 | €1,286 | €1,564 | +€278 | +21.6% |
| Taxes, remuneration and social security | 45 | €97 | €461 | +€364 | +374.9% |
| Taxes | 450/3 | €97 | €461 | +€364 | +374.9% |
| Other amounts payable | 47/48 | €5,092 | €2,641 | -€2,450 | -48.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,339 | €52,611 | +€3,272 | +6.6% |
| Other operating charges | 640/8 | €2,675 | €3,020 | +€345 | +12.9% |
| Non-recurring operating charges | 66A | €11,359 | €0 | -€11,359 | -100.0% |
| Gross operating margin | 9900 | €38,650 | €35,303 | -€3,347 | -8.7% |
| Operating profit (loss) | 9901 | -€24,722 | -€20,327 | +€4,395 | +17.8% |
| Financial income | 75/76B | €130 | €594 | +€464 | +356.6% |
| Recurring financial income | 75 | €130 | €594 | +€464 | +356.6% |
| Financial charges | 65/66B | €1,008 | €899 | -€109 | -10.8% |
| Recurring financial charges | 65 | €1,008 | €899 | -€109 | -10.8% |
| Profit (loss) for the period before taxes | 9903 | -€25,600 | -€20,633 | +€4,968 | +19.4% |
| Income taxes | 67/77 | - | €141 | +€141 | |
| Profit (loss) for the period | 9904 | -€25,600 | -€20,773 | +€4,827 | +18.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€25,600 | -€20,773 | +€4,827 | +18.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.