Den Bled: 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 Bled
Largest movements
- Receivables within one year +€21,697
up €21,697 (+129.1%), from €16,811 to €38,508
of which Other amounts receivable: +€21,739
- Cash -€10,383
down €10,383 (-69.1%), from €15,032 to €4,649
mainly Receivables within one year (-€21,697) and Debts after one year (-€15,958)
- Tangible fixed assets -€6,879
down €6,879 (-21.5%), from €32,067 to €25,188
of which Land and buildings: -€5,691
- Stocks and contracts +€1,058
up €1,058 (+10.4%), from €10,143 to €11,201
- Profit (loss) carried forward +€21,707
up €21,707 (+45.0%), from -€48,206 to -€26,499
- Debts after one year -€15,958
down €15,958 (-100.0%), from €15,958 to €0
- Trade debts -€13,127
down €13,127 (-32.0%), from €40,994 to €27,867
- Current portion of long-term debt +€12,601
new in 2025: €12,601
- Other debts +€2,223
up €2,223 (+5.8%), from €38,121 to €40,343
- Gross operating margin +€58,710
up €58,710 (+79.8%), from €73,589 to €132,298
- Staff costs +€30,522
up €30,522 (+47.5%), from €64,190 to €94,712
- Financial charges +€4,167
up €4,167 (+267.8%), from €1,556 to €5,723
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 | €74,320 | €79,586 | +€5,266 | +7.1% |
| Fixed assets | 21/28 | €32,067 | €25,188 | -€6,879 | -21.5% |
| Tangible fixed assets | 22/27 | €32,067 | €25,188 | -€6,879 | -21.5% |
| Land and buildings | 22 | €22,399 | €16,708 | -€5,691 | -25.4% |
| Plant, machinery and equipment | 23 | €8,036 | €5,499 | -€2,538 | -31.6% |
| Furniture and vehicles | 24 | €1,632 | €1,225 | -€407 | -25.0% |
| Other tangible fixed assets | 26 | - | €1,757 | +€1,757 | |
| Current assets | 29/58 | €42,253 | €54,398 | +€12,145 | +28.7% |
| Stocks and contracts in progress | 3 | €10,143 | €11,201 | +€1,058 | +10.4% |
| Stocks | 30/36 | €10,143 | €11,201 | +€1,058 | +10.4% |
| Amounts receivable within one year | 40/41 | €16,811 | €38,508 | +€21,697 | +129.1% |
| Trade receivables | 40 | €210 | €168 | -€42 | -19.9% |
| Other amounts receivable | 41 | €16,601 | €38,340 | +€21,739 | +130.9% |
| Cash at bank and in hand | 54/58 | €15,032 | €4,649 | -€10,383 | -69.1% |
| Deferred charges and accrued income | 490/1 | €267 | €40 | -€227 | -85.0% |
| Total equity and liabilities | 10/49 | €74,320 | €79,586 | +€5,266 | +7.1% |
| Equity | 10/15 | -€35,206 | -€13,499 | +€21,707 | +61.7% |
| Contributions | 10/11 | €13,000 | €13,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€48,206 | -€26,499 | +€21,707 | +45.0% |
| Amounts payable | 17/49 | €109,526 | €93,085 | -€16,441 | -15.0% |
| Amounts payable after more than one year | 17 | €15,958 | €0 | -€15,958 | -100.0% |
| Financial debts | 170/4 | €15,958 | €0 | -€15,958 | -100.0% |
| Amounts payable within one year | 42/48 | €93,568 | €93,085 | -€483 | -0.5% |
| Current portion of amounts payable after more than one year | 42 | - | €12,601 | +€12,601 | |
| Financial debts | 43 | €2,493 | €519 | -€1,974 | -79.2% |
| Credit institutions | 430/8 | €2,493 | €519 | -€1,974 | -79.2% |
| Trade debts | 44 | €40,994 | €27,867 | -€13,127 | -32.0% |
| Suppliers | 440/4 | €40,994 | €27,867 | -€13,127 | -32.0% |
| Taxes, remuneration and social security | 45 | €11,961 | €11,755 | -€207 | -1.7% |
| Taxes | 450/3 | €10,665 | €11,755 | +€1,089 | +10.2% |
| Remuneration and social security | 454/9 | €1,296 | €0 | -€1,296 | -100.0% |
| Other amounts payable | 47/48 | €38,121 | €40,343 | +€2,223 | +5.8% |
| Remuneration, social security and pensions | 62 | €64,190 | €94,712 | +€30,522 | +47.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,309 | €8,699 | +€390 | +4.7% |
| Other operating charges | 640/8 | €2,448 | €1,458 | -€989 | -40.4% |
| Non-recurring operating charges | 66A | €400 | €0 | -€400 | -100.0% |
| Gross operating margin | 9900 | €73,589 | €132,298 | +€58,710 | +79.8% |
| Operating profit (loss) | 9901 | -€1,759 | €27,429 | +€29,187 | |
| Financial income | 75/76B | €32 | €2 | -€30 | -93.4% |
| Recurring financial income | 75 | €32 | €2 | -€30 | -93.4% |
| Financial charges | 65/66B | €1,556 | €5,723 | +€4,167 | +267.8% |
| Recurring financial charges | 65 | €1,556 | €5,723 | +€4,167 | +267.8% |
| Profit (loss) for the period before taxes | 9903 | -€3,283 | €21,707 | +€24,990 | |
| Profit (loss) for the period | 9904 | -€3,283 | €21,707 | +€24,990 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,283 | €21,707 | +€24,990 |
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 11 October 2026 via checked.be.