DEN ECHO: 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 ECHO
Largest movements
- Receivables within one year -€46,086
down €46,086 (-63.6%), from €72,427 to €26,341
of which Other amounts receivable: -€40,671
- Cash -€12,860
down €12,860 (-70.0%), from €18,362 to €5,501
mainly Other debts (-€37,941) and Tax, wage and social debts (-€12,029)
- Deferred charges and accrued income -€4,281
down €4,281 (-100.0%), from €4,281 to €0
- Stocks and contracts -€2,850
down €2,850 (-35.7%), from €7,989 to €5,139
- Tangible fixed assets -€1,736
down €1,736 (-21.9%), from €7,932 to €6,195
of which Plant, machinery and equipment: -€1,148
- Other debts -€37,941
down €37,941 (-100.0%), from €37,941 to €0
- Tax, wage and social debts -€12,029
down €12,029 (-62.4%), from €19,280 to €7,250
of which Taxes: -€9,658
- Reserves -€10,852
down €10,852 (-40.0%), from €27,129 to €16,277
of which Distributable reserves: -€10,852
- Current portion of long-term debt -€5,000
down €5,000 (-45.5%), from €11,000 to €6,000
- Debts after one year -€2,000
down €2,000 (-100.0%), from €2,000 to €0
- Gross operating margin -€60,149
down €60,149, from €57,798 to -€2,351
- Staff costs -€35,390
down €35,390, from €34,264 to -€1,126
- Taxes -€5,859
down €5,859 (-96.8%), from €6,055 to €195
- Other operating charges -€1,938
down €1,938 (-31.7%), from €6,106 to €4,169
- Financial charges +€662
up €662 (+23.1%), from €2,864 to €3,526
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 | €118,490 | €50,676 | -€67,814 | -57.2% |
| Fixed assets | 21/28 | €15,432 | €13,695 | -€1,736 | -11.3% |
| Tangible fixed assets | 22/27 | €7,932 | €6,195 | -€1,736 | -21.9% |
| Land and buildings | 22 | €4,166 | €3,659 | -€508 | -12.2% |
| Plant, machinery and equipment | 23 | €3,212 | €2,064 | -€1,148 | -35.7% |
| Furniture and vehicles | 24 | €554 | €473 | -€81 | -14.6% |
| Financial fixed assets | 28 | €7,500 | €7,500 | = | 0.0% |
| Current assets | 29/58 | €103,059 | €36,981 | -€66,078 | -64.1% |
| Stocks and contracts in progress | 3 | €7,989 | €5,139 | -€2,850 | -35.7% |
| Stocks | 30/36 | €7,989 | €5,139 | -€2,850 | -35.7% |
| Amounts receivable within one year | 40/41 | €72,427 | €26,341 | -€46,086 | -63.6% |
| Trade receivables | 40 | €5,916 | €500 | -€5,416 | -91.5% |
| Other amounts receivable | 41 | €66,511 | €25,841 | -€40,671 | -61.1% |
| Cash at bank and in hand | 54/58 | €18,362 | €5,501 | -€12,860 | -70.0% |
| Deferred charges and accrued income | 490/1 | €4,281 | €0 | -€4,281 | -100.0% |
| Total equity and liabilities | 10/49 | €118,490 | €50,676 | -€67,814 | -57.2% |
| Equity | 10/15 | €45,729 | €34,877 | -€10,852 | -23.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €27,129 | €16,277 | -€10,852 | -40.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €27,129 | €16,277 | -€10,852 | -40.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €72,762 | €15,800 | -€56,962 | -78.3% |
| Amounts payable after more than one year | 17 | €2,000 | €0 | -€2,000 | -100.0% |
| Financial debts | 170/4 | €2,000 | €0 | -€2,000 | -100.0% |
| Amounts payable within one year | 42/48 | €70,374 | €15,800 | -€54,574 | -77.5% |
| Current portion of amounts payable after more than one year | 42 | €11,000 | €6,000 | -€5,000 | -45.5% |
| Trade debts | 44 | €2,154 | €1,944 | -€209 | -9.7% |
| Suppliers | 440/4 | €2,154 | €1,944 | -€209 | -9.7% |
| Advances received on contracts in progress | 46 | - | €605 | +€605 | |
| Taxes, remuneration and social security | 45 | €19,280 | €7,250 | -€12,029 | -62.4% |
| Taxes | 450/3 | €16,885 | €7,227 | -€9,658 | -57.2% |
| Remuneration and social security | 454/9 | €2,395 | €24 | -€2,371 | -99.0% |
| Other amounts payable | 47/48 | €37,941 | €0 | -€37,941 | -100.0% |
| Accrued charges and deferred income | 492/3 | €387 | €0 | -€387 | -100.0% |
| Remuneration, social security and pensions | 62 | €34,264 | -€1,126 | -€35,390 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,736 | €1,736 | = | 0.0% |
| Other operating charges | 640/8 | €6,106 | €4,169 | -€1,938 | -31.7% |
| Gross operating margin | 9900 | €57,798 | -€2,351 | -€60,149 | |
| Operating profit (loss) | 9901 | €15,691 | -€7,131 | -€22,821 | |
| Financial income | 75/76B | €217 | €0 | -€217 | -100.0% |
| Recurring financial income | 75 | €217 | €0 | -€217 | -100.0% |
| Financial charges | 65/66B | €2,864 | €3,526 | +€662 | +23.1% |
| Recurring financial charges | 65 | €2,864 | €3,526 | +€662 | +23.1% |
| Profit (loss) for the period before taxes | 9903 | €13,043 | -€10,657 | -€23,700 | |
| Income taxes | 67/77 | €6,055 | €195 | -€5,859 | -96.8% |
| Profit (loss) for the period | 9904 | €6,988 | -€10,852 | -€17,840 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,988 | -€10,852 | -€17,840 |
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.