DEN EETWAGON: 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 EETWAGON
Largest movements
- Cash +€72,410
up €72,410 (+82.9%), from €87,330 to €159,740
mainly Net result for the year (+€160,838) and Other debts (+€146,135)
- Tangible fixed assets +€46,753
up €46,753 (+29.7%), from €157,326 to €204,079
of which Plant, machinery and equipment: +€44,502
- Receivables within one year -€17,809
down €17,809 (-45.6%), from €39,070 to €21,261
of which Other amounts receivable: -€13,059
- Intangible fixed assets -€11,429
down €11,429 (-15.9%), from €71,894 to €60,466
- Other debts +€146,135
new in 2025: €146,135
- Profit (loss) carried forward -€76,162
down €76,162 (-33.5%), from €227,087 to €150,925
- Tax, wage and social debts +€31,781
up €31,781 (+57.5%), from €55,249 to €87,031
of which Taxes: +€32,156
- Trade debts -€9,869
down €9,869 (-17.5%), from €56,536 to €46,668
- Purchases and services +€34,479
up €34,479 (+11.3%), from €305,863 to €340,342
- Gross operating margin +€29,529
up €29,529 (+11.6%), from €254,133 to €283,662
- Staff costs +€7,808
up €7,808 (+54.1%), from €14,421 to €22,228
- Depreciation +€6,649
up €6,649 (+14.3%), from €46,451 to €53,100
- Taxes -€3,142
down €3,142 (-6.5%), from €48,306 to €45,164
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 | €359,332 | €451,218 | +€91,886 | +25.6% |
| Fixed assets | 21/28 | €229,220 | €264,545 | +€35,324 | +15.4% |
| Intangible fixed assets | 21 | €71,894 | €60,466 | -€11,429 | -15.9% |
| Tangible fixed assets | 22/27 | €157,326 | €204,079 | +€46,753 | +29.7% |
| Land and buildings | 22 | €1,523 | €969 | -€554 | -36.4% |
| Plant, machinery and equipment | 23 | €32,123 | €76,624 | +€44,502 | +138.5% |
| Furniture and vehicles | 24 | €123,681 | €126,486 | +€2,805 | +2.3% |
| Current assets | 29/58 | €130,112 | €186,674 | +€56,562 | +43.5% |
| Amounts receivable within one year | 40/41 | €39,070 | €21,261 | -€17,809 | -45.6% |
| Trade receivables | 40 | €26,011 | €21,261 | -€4,750 | -18.3% |
| Other amounts receivable | 41 | €13,059 | - | -€13,059 | |
| Cash at bank and in hand | 54/58 | €87,330 | €159,740 | +€72,410 | +82.9% |
| Deferred charges and accrued income | 490/1 | €3,712 | €5,672 | +€1,961 | +52.8% |
| Total equity and liabilities | 10/49 | €359,332 | €451,218 | +€91,886 | +25.6% |
| Equity | 10/15 | €247,547 | €171,385 | -€76,162 | -30.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €227,087 | €150,925 | -€76,162 | -33.5% |
| Amounts payable | 17/49 | €111,786 | €279,833 | +€168,048 | +150.3% |
| Amounts payable within one year | 42/48 | €111,786 | €279,833 | +€168,048 | +150.3% |
| Trade debts | 44 | €56,536 | €46,668 | -€9,869 | -17.5% |
| Suppliers | 440/4 | €56,536 | €46,668 | -€9,869 | -17.5% |
| Taxes, remuneration and social security | 45 | €55,249 | €87,031 | +€31,781 | +57.5% |
| Taxes | 450/3 | €54,798 | €86,953 | +€32,156 | +58.7% |
| Remuneration and social security | 454/9 | €452 | €77 | -€374 | -82.9% |
| Other amounts payable | 47/48 | - | €146,135 | +€146,135 | |
| Non-recurring operating income | 76A | - | €3,011 | +€3,011 | |
| Goods, raw materials, services and sundry goods | 60/61 | €305,863 | €340,342 | +€34,479 | +11.3% |
| Remuneration, social security and pensions | 62 | €14,421 | €22,228 | +€7,808 | +54.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,451 | €53,100 | +€6,649 | +14.3% |
| Other operating charges | 640/8 | €2,066 | €2,305 | +€239 | +11.6% |
| Gross operating margin | 9900 | €254,133 | €283,662 | +€29,529 | +11.6% |
| Operating profit (loss) | 9901 | €191,195 | €206,029 | +€14,834 | +7.8% |
| Financial income | 75/76B | €15 | €127 | +€113 | +773.0% |
| Recurring financial income | 75 | €15 | €127 | +€113 | +773.0% |
| Financial charges | 65/66B | €144 | €154 | +€11 | +7.5% |
| Recurring financial charges | 65 | €144 | €154 | +€11 | +7.5% |
| Profit (loss) for the period before taxes | 9903 | €191,066 | €206,002 | +€14,936 | +7.8% |
| Income taxes | 67/77 | €48,306 | €45,164 | -€3,142 | -6.5% |
| Profit (loss) for the period | 9904 | €142,760 | €160,838 | +€18,078 | +12.7% |
| Profit (loss) for the period to be appropriated | 9905 | €142,760 | €160,838 | +€18,078 | +12.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.