DEN HERT: 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 HERT
Largest movements
- Deferred charges and accrued income -€10,383
down €10,383 (-83.1%), from €12,499 to €2,116
- Receivables within one year +€7,751
up €7,751 (+29.2%), from €26,585 to €34,336
of which Other amounts receivable: +€8,444
- Cash -€7,253
down €7,253 (-18.5%), from €39,194 to €31,941
mainly Net result for the year (-€11,868) and Receivables within one year (-€7,751)
- Current investments -€5,359
down €5,359 (-9.7%), from €55,360 to €50,001
- Stocks and contracts +€2,943
up €2,943 (+24.6%), from €11,956 to €14,899
- Reserves -€12,265
down €12,265 (-10.8%), from €113,708 to €101,443
of which Distributable reserves: -€12,265
- Gross operating margin -€14,762
down €14,762 (-48.5%), from €30,467 to €15,705
- Staff costs -€2,966
down €2,966 (-13.1%), from €22,669 to €19,703
- Depreciation +€1,174
up €1,174 (+67.5%), from €1,739 to €2,912
- Financial charges +€815
up €815 (+26.4%), from €3,086 to €3,902
- Financial income +€506
up €506 (+243%), from €208 to €715
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.
Derived cash bridge
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 | €156,787 | €141,573 | -€15,214 | -9.7% |
| Fixed assets | 21/28 | €11,192 | €8,280 | -€2,912 | -26.0% |
| Tangible fixed assets | 22/27 | €11,192 | €8,280 | -€2,912 | -26.0% |
| Plant, machinery and equipment | 23 | €5,864 | €4,468 | -€1,396 | -23.8% |
| Furniture and vehicles | 24 | €5,329 | €3,812 | -€1,517 | -28.5% |
| Current assets | 29/58 | €145,594 | €133,293 | -€12,301 | -8.4% |
| Stocks and contracts in progress | 3 | €11,956 | €14,899 | +€2,943 | +24.6% |
| Stocks | 30/36 | €11,956 | €14,899 | +€2,943 | +24.6% |
| Amounts receivable within one year | 40/41 | €26,585 | €34,336 | +€7,751 | +29.2% |
| Trade receivables | 40 | €948 | €256 | -€693 | -73.0% |
| Other amounts receivable | 41 | €25,636 | €34,080 | +€8,444 | +32.9% |
| Current investments | 50/53 | €55,360 | €50,001 | -€5,359 | -9.7% |
| Cash at bank and in hand | 54/58 | €39,194 | €31,941 | -€7,253 | -18.5% |
| Deferred charges and accrued income | 490/1 | €12,499 | €2,116 | -€10,383 | -83.1% |
| Total equity and liabilities | 10/49 | €156,787 | €141,573 | -€15,214 | -9.7% |
| Equity | 10/15 | €138,744 | €126,043 | -€12,701 | -9.2% |
| Contributions | 10/11 | €24,600 | €24,600 | = | 0.0% |
| Reserves | 13 | €113,708 | €101,443 | -€12,265 | -10.8% |
| Tax-exempt reserves | 132 | €8,000 | €8,000 | = | 0.0% |
| Distributable reserves | 133 | €105,708 | €93,443 | -€12,265 | -11.6% |
| Profit (loss) carried forward | 14 | €436 | €0 | -€436 | -100% |
| Amounts payable | 17/49 | €18,043 | €15,530 | -€2,512 | -13.9% |
| Amounts payable within one year | 42/48 | €18,043 | €15,530 | -€2,512 | -13.9% |
| Trade debts | 44 | €4,273 | €3,262 | -€1,012 | -23.7% |
| Suppliers | 440/4 | €4,273 | €3,262 | -€1,012 | -23.7% |
| Advances received on contracts in progress | 46 | - | €50 | +€50 | |
| Taxes, remuneration and social security | 45 | €12,936 | €11,386 | -€1,551 | -12.0% |
| Taxes | 450/3 | €9,970 | €9,500 | -€469 | -4.7% |
| Remuneration and social security | 454/9 | €2,967 | €1,885 | -€1,082 | -36.5% |
| Other amounts payable | 47/48 | €833 | €833 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €22,669 | €19,703 | -€2,966 | -13.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,739 | €2,912 | +€1,174 | +67.5% |
| Other operating charges | 640/8 | €1,190 | €1,544 | +€354 | +29.7% |
| Gross operating margin | 9900 | €30,467 | €15,705 | -€14,762 | -48.5% |
| Operating profit (loss) | 9901 | €4,870 | -€8,454 | -€13,323 | |
| Financial income | 75/76B | €208 | €715 | +€506 | +243% |
| Recurring financial income | 75 | €208 | €715 | +€506 | +243% |
| Financial charges | 65/66B | €3,086 | €3,902 | +€815 | +26.4% |
| Recurring financial charges | 65 | €3,086 | €3,902 | +€815 | +26.4% |
| Profit (loss) for the period before taxes | 9903 | €1,992 | -€11,641 | -€13,632 | |
| Income taxes | 67/77 | €723 | €228 | -€495 | -68.5% |
| Profit (loss) for the period | 9904 | €1,269 | -€11,868 | -€13,137 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,269 | -€11,868 | -€13,137 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.