DEN IJZER: 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 IJZER
Largest movements
- Tangible fixed assets -€44,088
down €44,088 (-8.0%), from €548,224 to €504,137
of which Land and buildings: -€27,180
- Stocks and contracts -€32,102
down €32,102 (-2.5%), from €1.3m to €1.2m
- Reserves -€60,948
down €60,948 (-4.5%), from €1.3m to €1.3m
of which Distributable reserves: -€60,948
- Tax, wage and social debts -€31,691
down €31,691 (-21.9%), from €144,943 to €113,251
of which Remuneration and social security: -€28,256
- Write-downs -€141,214
down €141,214, from €104,082 to -€37,132
- Gross operating margin -€135,692
down €135,692 (-14.0%), from €971,815 to €836,123
- Staff costs +€29,323
up €29,323 (+3.5%), from €829,963 to €859,286
- Financial income +€17,700
up €17,700 (+41.3%), from €42,830 to €60,530
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 | €2,345,431 | €2,282,301 | -€63,131 | -2.7% |
| Fixed assets | 21/28 | €585,926 | €532,349 | -€53,577 | -9.1% |
| Intangible fixed assets | 21 | €37,702 | €28,212 | -€9,490 | -25.2% |
| Tangible fixed assets | 22/27 | €548,224 | €504,137 | -€44,088 | -8.0% |
| Land and buildings | 22 | €473,323 | €446,143 | -€27,180 | -5.7% |
| Plant, machinery and equipment | 23 | €19,345 | €14,204 | -€5,141 | -26.6% |
| Furniture and vehicles | 24 | €55,557 | €43,790 | -€11,767 | -21.2% |
| Current assets | 29/58 | €1,759,505 | €1,749,951 | -€9,553 | -0.5% |
| Stocks and contracts in progress | 3 | €1,266,524 | €1,234,422 | -€32,102 | -2.5% |
| Stocks | 30/36 | €1,266,524 | €1,234,422 | -€32,102 | -2.5% |
| Amounts receivable within one year | 40/41 | €160 | €0 | -€160 | -100% |
| Trade receivables | 40 | €160 | €0 | -€160 | -100% |
| Cash at bank and in hand | 54/58 | €488,461 | €511,456 | +€22,995 | +4.7% |
| Deferred charges and accrued income | 490/1 | €4,359 | €4,073 | -€286 | -6.6% |
| Total equity and liabilities | 10/49 | €2,345,431 | €2,282,301 | -€63,131 | -2.7% |
| Equity | 10/15 | €1,461,754 | €1,400,806 | -€60,948 | -4.2% |
| Contributions | 10/11 | €120,720 | €120,720 | = | 0.0% |
| Capital | 10 | €120,720 | €120,720 | = | 0.0% |
| Issued capital | 100 | €120,720 | €120,720 | = | 0.0% |
| Reserves | 13 | €1,341,034 | €1,280,086 | -€60,948 | -4.5% |
| Non-distributable reserves | 130/1 | €12,072 | €12,072 | = | 0.0% |
| Legal reserve | 130 | €12,072 | €12,072 | = | 0.0% |
| Tax-exempt reserves | 132 | €35,143 | €35,143 | = | 0.0% |
| Distributable reserves | 133 | €1,293,818 | €1,232,871 | -€60,948 | -4.7% |
| Amounts payable | 17/49 | €883,677 | €881,495 | -€2,183 | -0.2% |
| Amounts payable within one year | 42/48 | €882,420 | €880,237 | -€2,183 | -0.2% |
| Trade debts | 44 | €65,933 | €78,784 | +€12,851 | +19.5% |
| Suppliers | 440/4 | €65,933 | €78,784 | +€12,851 | +19.5% |
| Taxes, remuneration and social security | 45 | €144,943 | €113,251 | -€31,691 | -21.9% |
| Taxes | 450/3 | €27,795 | €24,360 | -€3,435 | -12.4% |
| Remuneration and social security | 454/9 | €117,147 | €88,891 | -€28,256 | -24.1% |
| Other amounts payable | 47/48 | €671,544 | €688,201 | +€16,657 | +2.5% |
| Accrued charges and deferred income | 492/3 | €1,258 | €1,258 | = | 0.0% |
| Non-recurring operating income | 76A | €6,000 | €2,066 | -€3,934 | -65.6% |
| Remuneration, social security and pensions | 62 | €829,963 | €859,286 | +€29,323 | +3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €76,910 | €67,461 | -€9,449 | -12.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €104,082 | -€37,132 | -€141,214 | |
| Other operating charges | 640/8 | €10,445 | €10,617 | +€172 | +1.6% |
| Gross operating margin | 9900 | €971,815 | €836,123 | -€135,692 | -14.0% |
| Operating profit (loss) | 9901 | -€49,585 | -€64,109 | -€14,524 | -29.3% |
| Financial income | 75/76B | €42,830 | €60,530 | +€17,700 | +41.3% |
| Recurring financial income | 75 | €42,830 | €60,530 | +€17,700 | +41.3% |
| Financial charges | 65/66B | €61,773 | €56,901 | -€4,872 | -7.9% |
| Recurring financial charges | 65 | €61,773 | €56,901 | -€4,872 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | -€68,528 | -€60,480 | +€8,048 | +11.7% |
| Income taxes | 67/77 | €487 | €467 | -€20 | -4.0% |
| Profit (loss) for the period | 9904 | -€69,015 | -€60,948 | +€8,068 | +11.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€69,015 | -€60,948 | +€8,068 | +11.7% |
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 13 October 2026 via checked.be.