DEN DRIEHOEK: 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 DRIEHOEK
Largest movements
- Receivables within one year +€177,510
up €177,510 (+247.9%), from €71,606 to €249,117
of which Other amounts receivable: +€177,540
- Cash -€25,714
down €25,714 (-26.5%), from €97,124 to €71,410
mainly Receivables within one year (-€177,510) and Investment in fixed assets (net) (-€18,630)
- Tangible fixed assets -€25,393
down €25,393 (-15.6%), from €162,311 to €136,918
of which Other tangible fixed assets: -€20,259
- Reserves +€103,475
up €103,475 (+83.0%), from €124,616 to €228,092
- Tax, wage and social debts +€31,127
up €31,127 (+153.8%), from €20,237 to €51,364
of which Taxes: +€30,700
- Debts after one year -€5,903
down €5,903 (-38.9%), from €15,187 to €9,285
- Gross operating margin +€104,138
up €104,138 (+58.6%), from €177,607 to €281,745
- Taxes +€33,804
up €33,804 (+194.4%), from €17,386 to €51,190
- Other operating charges +€13,830
up €13,830 (+947.7%), from €1,459 to €15,289
- Financial charges +€5,219
up €5,219 (+176.0%), from €2,966 to €8,185
- Financial income +€4,840
up €4,840 (+74.3%), from €6,518 to €11,358
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €407,916 | €529,662 | +€121,745 | +29.8% |
| Fixed assets | 21/28 | €162,311 | €136,918 | -€25,393 | -15.6% |
| Tangible fixed assets | 22/27 | €162,311 | €136,918 | -€25,393 | -15.6% |
| Plant, machinery and equipment | 23 | €13,017 | €12,749 | -€269 | -2.1% |
| Furniture and vehicles | 24 | €36,692 | €31,826 | -€4,866 | -13.3% |
| Other tangible fixed assets | 26 | €112,602 | €92,343 | -€20,259 | -18.0% |
| Current assets | 29/58 | €245,606 | €392,744 | +€147,139 | +59.9% |
| Amounts receivable after more than one year | 29 | €59,211 | €59,211 | = | 0.0% |
| Other amounts receivable | 291 | €59,211 | €59,211 | = | 0.0% |
| Stocks and contracts in progress | 3 | €11,995 | €11,238 | -€757 | -6.3% |
| Stocks | 30/36 | €11,995 | €11,238 | -€757 | -6.3% |
| Amounts receivable within one year | 40/41 | €71,606 | €249,117 | +€177,510 | +247.9% |
| Trade receivables | 40 | €30 | - | -€30 | |
| Other amounts receivable | 41 | €71,576 | €249,117 | +€177,540 | +248.0% |
| Cash at bank and in hand | 54/58 | €97,124 | €71,410 | -€25,714 | -26.5% |
| Deferred charges and accrued income | 490/1 | €5,669 | €1,769 | -€3,900 | -68.8% |
| Total equity and liabilities | 10/49 | €407,916 | €529,662 | +€121,745 | +29.8% |
| Equity | 10/15 | €332,363 | €435,839 | +€103,475 | +31.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €124,616 | €228,092 | +€103,475 | +83.0% |
| Distributable reserves | 133 | €124,616 | €228,092 | +€103,475 | +83.0% |
| Profit (loss) carried forward | 14 | €189,147 | €189,147 | = | 0.0% |
| Amounts payable | 17/49 | €75,553 | €93,823 | +€18,270 | +24.2% |
| Amounts payable after more than one year | 17 | €15,187 | €9,285 | -€5,903 | -38.9% |
| Financial debts | 170/4 | €15,187 | €9,285 | -€5,903 | -38.9% |
| Amounts payable within one year | 42/48 | €60,366 | €84,538 | +€24,173 | +40.0% |
| Current portion of amounts payable after more than one year | 42 | €8,494 | €5,903 | -€2,591 | -30.5% |
| Financial debts | 43 | €2,917 | €2,393 | -€524 | -18.0% |
| Credit institutions | 430/8 | €2,917 | €2,393 | -€524 | -18.0% |
| Trade debts | 44 | €28,719 | €24,879 | -€3,840 | -13.4% |
| Suppliers | 440/4 | €28,719 | €24,879 | -€3,840 | -13.4% |
| Taxes, remuneration and social security | 45 | €20,237 | €51,364 | +€31,127 | +153.8% |
| Taxes | 450/3 | €18,750 | €49,449 | +€30,700 | +163.7% |
| Remuneration and social security | 454/9 | €1,487 | €1,915 | +€428 | +28.8% |
| Non-recurring operating income | 76A | €17,355 | - | -€17,355 | |
| Remuneration, social security and pensions | 62 | €69,579 | €70,941 | +€1,362 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,892 | €44,023 | +€1,131 | +2.6% |
| Other operating charges | 640/8 | €1,459 | €15,289 | +€13,830 | +947.7% |
| Gross operating margin | 9900 | €177,607 | €281,745 | +€104,138 | +58.6% |
| Operating profit (loss) | 9901 | €63,677 | €151,492 | +€87,815 | +137.9% |
| Financial income | 75/76B | €6,518 | €11,358 | +€4,840 | +74.3% |
| Recurring financial income | 75 | €6,518 | €11,358 | +€4,840 | +74.3% |
| Financial charges | 65/66B | €2,966 | €8,185 | +€5,219 | +176.0% |
| Recurring financial charges | 65 | €2,966 | €8,185 | +€5,219 | +176.0% |
| Profit (loss) for the period before taxes | 9903 | €67,229 | €154,665 | +€87,436 | +130.1% |
| Income taxes | 67/77 | €17,386 | €51,190 | +€33,804 | +194.4% |
| Profit (loss) for the period | 9904 | €49,843 | €103,475 | +€53,633 | +107.6% |
| Profit (loss) for the period to be appropriated | 9905 | €49,843 | €103,475 | +€53,633 | +107.6% |
Source: filed annual accounts (NBB), fiscal years ended 1 January 2025 and 1 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.