Den Ober: 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 Ober
Largest movements
- Tangible fixed assets +€99,130
up €99,130 (+37.4%), from €265,252 to €364,382
of which Other tangible fixed assets: +€99,678
- Cash -€58,618
down €58,618 (-35.8%), from €163,592 to €104,974
mainly Investment in fixed assets (net) (-€149,954) and Short-term financial debts (-€32,150)
- Reserves +€82,393
up €82,393 (+37.3%), from €221,136 to €303,528
of which Distributable reserves: +€82,393
- Short-term financial debts -€32,150
down €32,150 (-100%), from €32,150 to €0
- Accrued charges and deferred income +€30,537
up €30,537 (+46.0%), from €66,399 to €96,937
- Trade debts -€19,418
down €19,418 (-39.4%), from €49,245 to €29,827
- Tax, wage and social debts -€12,354
down €12,354 (-58.9%), from €20,982 to €8,629
of which Taxes: -€7,979
- Gross operating margin +€25,693
up €25,693 (+17.1%), from €149,991 to €175,685
- Depreciation +€14,299
up €14,299 (+39.1%), from €36,525 to €50,824
- Taxes +€5,838
up €5,838 (+19.1%), from €30,559 to €36,397
- Other operating charges -€2,539
down €2,539 (-53.1%), from €4,783 to €2,245
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 | €466,727 | €513,070 | +€46,343 | +9.9% |
| Fixed assets | 21/28 | €265,701 | €364,831 | +€99,130 | +37.3% |
| Tangible fixed assets | 22/27 | €265,252 | €364,382 | +€99,130 | +37.4% |
| Land and buildings | 22 | €136,905 | €119,435 | -€17,470 | -12.8% |
| Plant, machinery and equipment | 23 | €32,580 | €44,076 | +€11,496 | +35.3% |
| Furniture and vehicles | 24 | €30,719 | €36,146 | +€5,427 | +17.7% |
| Other tangible fixed assets | 26 | €65,048 | €164,725 | +€99,678 | +153% |
| Financial fixed assets | 28 | €449 | €449 | = | 0.0% |
| Current assets | 29/58 | €201,026 | €148,239 | -€52,787 | -26.3% |
| Stocks and contracts in progress | 3 | €3,808 | €7,058 | +€3,250 | +85.4% |
| Stocks | 30/36 | €3,808 | €7,058 | +€3,250 | +85.4% |
| Amounts receivable within one year | 40/41 | €30,720 | €33,344 | +€2,624 | +8.5% |
| Other amounts receivable | 41 | €30,720 | €33,344 | +€2,624 | +8.5% |
| Cash at bank and in hand | 54/58 | €163,592 | €104,974 | -€58,618 | -35.8% |
| Deferred charges and accrued income | 490/1 | €2,906 | €2,863 | -€43 | -1.5% |
| Total equity and liabilities | 10/49 | €466,727 | €513,070 | +€46,343 | +9.9% |
| Equity | 10/15 | €233,536 | €315,928 | +€82,393 | +35.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €221,136 | €303,528 | +€82,393 | +37.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €219,276 | €301,668 | +€82,393 | +37.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €233,191 | €197,142 | -€36,050 | -15.5% |
| Amounts payable after more than one year | 17 | €54,976 | €45,118 | -€9,858 | -17.9% |
| Financial debts | 170/4 | €54,976 | €45,118 | -€9,858 | -17.9% |
| Amounts payable within one year | 42/48 | €111,816 | €55,087 | -€56,729 | -50.7% |
| Current portion of amounts payable after more than one year | 42 | €9,439 | €16,631 | +€7,192 | +76.2% |
| Financial debts | 43 | €32,150 | €0 | -€32,150 | -100% |
| Other loans | 439 | €32,150 | €0 | -€32,150 | -100% |
| Trade debts | 44 | €49,245 | €29,827 | -€19,418 | -39.4% |
| Suppliers | 440/4 | €49,245 | €29,827 | -€19,418 | -39.4% |
| Taxes, remuneration and social security | 45 | €20,982 | €8,629 | -€12,354 | -58.9% |
| Taxes | 450/3 | €16,607 | €8,629 | -€7,979 | -48.0% |
| Remuneration and social security | 454/9 | €4,375 | €0 | -€4,375 | -100% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €66,399 | €96,937 | +€30,537 | +46.0% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,525 | €50,824 | +€14,299 | +39.1% |
| Other operating charges | 640/8 | €4,783 | €2,245 | -€2,539 | -53.1% |
| Non-recurring operating charges | 66A | €706 | €0 | -€706 | -100% |
| Gross operating margin | 9900 | €149,991 | €175,685 | +€25,693 | +17.1% |
| Operating profit (loss) | 9901 | €107,977 | €122,616 | +€14,640 | +13.6% |
| Financial income | 75/76B | €788 | €1,598 | +€810 | +103% |
| Recurring financial income | 75 | €788 | €1,598 | +€810 | +103% |
| Financial charges | 65/66B | €4,906 | €5,425 | +€519 | +10.6% |
| Recurring financial charges | 65 | €4,906 | €5,425 | +€519 | +10.6% |
| Profit (loss) for the period before taxes | 9903 | €103,859 | €118,789 | +€14,930 | +14.4% |
| Income taxes | 67/77 | €30,559 | €36,397 | +€5,838 | +19.1% |
| Profit (loss) for the period | 9904 | €73,300 | €82,393 | +€9,093 | +12.4% |
| Profit (loss) for the period to be appropriated | 9905 | €73,300 | €82,393 | +€9,093 | +12.4% |
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 18 October 2026 via checked.be.