DEN-INVEST: what changed
What changed
DEN-INVEST
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€1,030
2024 · €43,634-€42,604
Equity
€871,029
2024 · €870,000+€1,030
Cash
€64,546
2024 · €21,452+€43,094
Balance sheet total
€20.3m
2024 · €23.3m-€2.9m
Largest movements
Assets
- Stocks and contracts -€1.9m
down €1.9m (-12.0%), from €15.6m to €13.7m
- Tangible fixed assets -€978,350
down €978,350 (-13.6%), from €7.2m to €6.2m
of which Land and buildings: -€956,395
Equity and liabilities
- Short-term financial debts -€4.0m
no longer reported in 2025 (was €4.0m)
of which Credit institutions: -€2.5m
- Current portion of long-term debt +€3.3m
up €3.3m (+713%), from €464,242 to €3.8m
- Debts after one year -€2.0m
down €2.0m (-11.2%), from €17.5m to €15.5m
of which Financial debts: -€1.4m
Income statement
- Gross operating margin -€956,376
down €956,376 (-51.1%), from €1.9m to €914,782
- Financial charges -€880,441
down €880,441 (-64.4%), from €1.4m to €486,655
- Other operating charges -€25,074
down €25,074 (-16.6%), from €150,981 to €125,906
- Financial income -€21,866
down €21,866 (-76.3%), from €28,672 to €6,806
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€43,634
Gross operating margin
-€956,376
Depreciation
+€15,172
Other operating charges
+€25,074
Financial income
-€21,866
Financial charges
+€880,441
Taxes
+€14,950
Result 2025
€1,030
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€2.1m
Investment
+€671,288
Financing
-€2.7m
Cash 2024
€21,452
From operations (derived)
+€2.1m
Net result for the year
+€1,030
Depreciation
+€307,063
Stocks and contracts
+€1.9m
Receivables within one year
+€3,310
Deferred charges and accrued income
+€123,737
Trade debts
-€122,795
Tax, wage and social debts
-€49,773
Advances received
+€49,377
Other debts
-€102,201
Accrued charges and deferred income
-€14,147
Investment (derived)
+€671,288
Investment in fixed assets (net)
+€671,288
Financing
-€2.7m
Debts after one year
-€2.0m
Current portion of long-term debt
+€3.3m
Short-term financial debts
-€4.0m
Cash 2025
€64,546
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €23,272,580 | €20,336,320 | -€2.9m | -12.6% |
| Fixed assets | 21/28 | €7,184,732 | €6,206,382 | -€978,350 | -13.6% |
| Tangible fixed assets | 22/27 | €7,184,732 | €6,206,382 | -€978,350 | -13.6% |
| Land and buildings | 22 | €7,124,585 | €6,168,190 | -€956,395 | -13.4% |
| Furniture and vehicles | 24 | €60,147 | €38,191 | -€21,956 | -36.5% |
| Current assets | 29/58 | €16,087,848 | €14,129,938 | -€2.0m | -12.2% |
| Stocks and contracts in progress | 3 | €15,619,538 | €13,745,580 | -€1.9m | -12.0% |
| Stocks | 30/36 | €15,619,538 | €13,745,580 | -€1.9m | -12.0% |
| Amounts receivable within one year | 40/41 | €25,908 | €22,598 | -€3,310 | -12.8% |
| Trade receivables | 40 | €16,488 | €22,598 | +€6,110 | +37.1% |
| Other amounts receivable | 41 | €9,419 | - | -€9,419 | |
| Cash at bank and in hand | 54/58 | €21,452 | €64,546 | +€43,094 | +201% |
| Deferred charges and accrued income | 490/1 | €420,950 | €297,213 | -€123,737 | -29.4% |
| Total equity and liabilities | 10/49 | €23,272,580 | €20,336,320 | -€2.9m | -12.6% |
| Equity | 10/15 | €870,000 | €871,029 | +€1,030 | +0.1% |
| Contributions | 10/11 | €450,000 | €450,000 | = | 0.0% |
| Contributions outside capital | 11 | €450,000 | €450,000 | = | 0.0% |
| Other | 1109/19 | €450,000 | €450,000 | = | 0.0% |
| Reserves | 13 | €416,800 | €416,800 | = | 0.0% |
| Distributable reserves | 133 | €416,800 | €416,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,200 | €4,229 | +€1,030 | +32.2% |
| Amounts payable | 17/49 | €22,402,581 | €19,465,291 | -€2.9m | -13.1% |
| Amounts payable after more than one year | 17 | €17,500,886 | €15,539,687 | -€2.0m | -11.2% |
| Financial debts | 170/4 | €15,834,186 | €14,422,237 | -€1.4m | -8.9% |
| Other amounts payable | 178/9 | €1,666,700 | €1,117,450 | -€549,250 | -33.0% |
| Amounts payable within one year | 42/48 | €4,887,548 | €3,925,604 | -€961,944 | -19.7% |
| Current portion of amounts payable after more than one year | 42 | €464,242 | €3,775,875 | +€3.3m | +713% |
| Financial debts | 43 | €4,048,185 | - | -€4.0m | |
| Credit institutions | 430/8 | €2,498,185 | - | -€2.5m | |
| Other loans | 439 | €1,550,000 | - | -€1.6m | |
| Trade debts | 44 | €179,393 | €56,598 | -€122,795 | -68.5% |
| Suppliers | 440/4 | €179,393 | €56,598 | -€122,795 | -68.5% |
| Advances received on contracts in progress | 46 | - | €49,377 | +€49,377 | |
| Taxes, remuneration and social security | 45 | €68,120 | €18,347 | -€49,773 | -73.1% |
| Taxes | 450/3 | €68,120 | €18,347 | -€49,773 | -73.1% |
| Other amounts payable | 47/48 | €127,607 | €25,406 | -€102,201 | -80.1% |
| Accrued charges and deferred income | 492/3 | €14,147 | - | -€14,147 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €322,235 | €307,063 | -€15,172 | -4.7% |
| Other operating charges | 640/8 | €150,981 | €125,906 | -€25,074 | -16.6% |
| Gross operating margin | 9900 | €1,871,158 | €914,782 | -€956,376 | -51.1% |
| Operating profit (loss) | 9901 | €1,397,943 | €481,813 | -€916,130 | -65.5% |
| Financial income | 75/76B | €28,672 | €6,806 | -€21,866 | -76.3% |
| Recurring financial income | 75 | €28,672 | €6,806 | -€21,866 | -76.3% |
| Financial charges | 65/66B | €1,367,097 | €486,655 | -€880,441 | -64.4% |
| Recurring financial charges | 65 | €1,367,097 | €486,655 | -€880,441 | -64.4% |
| Profit (loss) for the period before taxes | 9903 | €59,518 | €1,964 | -€57,554 | -96.7% |
| Income taxes | 67/77 | €15,884 | €934 | -€14,950 | -94.1% |
| Profit (loss) for the period | 9904 | €43,634 | €1,030 | -€42,604 | -97.6% |
| Profit (loss) for the period to be appropriated | 9905 | €43,634 | €1,030 | -€42,604 | -97.6% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.