Den Old: what changed
Two fiscal 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 Old
Largest movements
- Deferred charges and accrued income -€11,971
down €11,971 (-93.6%), from €12,788 to €817
- Cash +€9,082
up €9,082 (+144.6%), from €6,281 to €15,363
mainly Deferred charges and accrued income (+€11,971) and Other debts (+€9,860)
- Stocks and contracts +€5,546
up €5,546 (+118.2%), from €4,690 to €10,236
- Receivables within one year +€2,158
up €2,158 (+1544.0%), from €140 to €2,298
of which Trade receivables: +€2,298
- Tangible fixed assets -€2,153
down €2,153 (-34.0%), from €6,330 to €4,178
of which Plant, machinery and equipment: -€2,060
- Other debts +€9,860
up €9,860, from €0 to €9,860
- Profit (loss) carried forward -€4,203
down €4,203 (-44.0%), from -€9,542 to -€13,744
- Trade debts -€3,166
down €3,166 (-100.0%), from €3,166 to €0
- Gross operating margin +€3,452
up €3,452 (+21.4%), from €16,094 to €19,546
- Staff costs -€1,362
down €1,362 (-6.6%), from €20,762 to €19,400
- Other operating charges +€596
up €596 (+105.7%), from €564 to €1,159
- Financial charges -€310
down €310 (-26.1%), from €1,188 to €878
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 | €30,229 | €32,891 | +€2,662 | +8.8% |
| Fixed assets | 21/28 | €6,330 | €4,178 | -€2,153 | -34.0% |
| Tangible fixed assets | 22/27 | €6,330 | €4,178 | -€2,153 | -34.0% |
| Plant, machinery and equipment | 23 | €5,666 | €3,606 | -€2,060 | -36.4% |
| Furniture and vehicles | 24 | €665 | €572 | -€93 | -13.9% |
| Current assets | 29/58 | €23,899 | €28,713 | +€4,815 | +20.1% |
| Stocks and contracts in progress | 3 | €4,690 | €10,236 | +€5,546 | +118.2% |
| Stocks | 30/36 | €4,690 | €10,236 | +€5,546 | +118.2% |
| Amounts receivable within one year | 40/41 | €140 | €2,298 | +€2,158 | +1544.0% |
| Trade receivables | 40 | - | €2,298 | +€2,298 | |
| Other amounts receivable | 41 | €140 | €0 | -€140 | -100.0% |
| Cash at bank and in hand | 54/58 | €6,281 | €15,363 | +€9,082 | +144.6% |
| Deferred charges and accrued income | 490/1 | €12,788 | €817 | -€11,971 | -93.6% |
| Total equity and liabilities | 10/49 | €30,229 | €32,891 | +€2,662 | +8.8% |
| Equity | 10/15 | €14,467 | €10,265 | -€4,203 | -29.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €5,409 | €5,409 | = | 0.0% |
| Distributable reserves | 133 | €5,409 | €5,409 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,542 | -€13,744 | -€4,203 | -44.0% |
| Amounts payable | 17/49 | €15,762 | €22,626 | +€6,865 | +43.6% |
| Amounts payable within one year | 42/48 | €15,762 | €22,626 | +€6,865 | +43.6% |
| Trade debts | 44 | €3,166 | €0 | -€3,166 | -100.0% |
| Suppliers | 440/4 | €3,166 | €0 | -€3,166 | -100.0% |
| Taxes, remuneration and social security | 45 | €12,595 | €12,766 | +€171 | +1.4% |
| Taxes | 450/3 | €9,589 | €10,069 | +€480 | +5.0% |
| Remuneration and social security | 454/9 | €3,006 | €2,697 | -€309 | -10.3% |
| Other amounts payable | 47/48 | €0 | €9,860 | +€9,860 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €20,762 | €19,400 | -€1,362 | -6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,096 | €2,153 | +€57 | +2.7% |
| Other operating charges | 640/8 | €564 | €1,159 | +€596 | +105.7% |
| Gross operating margin | 9900 | €16,094 | €19,546 | +€3,452 | +21.4% |
| Operating profit (loss) | 9901 | -€7,327 | -€3,166 | +€4,161 | +56.8% |
| Financial income | 75/76B | €4 | €0 | -€4 | -99.5% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -99.5% |
| Financial charges | 65/66B | €1,188 | €878 | -€310 | -26.1% |
| Recurring financial charges | 65 | €1,188 | €878 | -€310 | -26.1% |
| Profit (loss) for the period before taxes | 9903 | -€8,511 | -€4,044 | +€4,467 | +52.5% |
| Income taxes | 67/77 | €190 | €159 | -€30 | -16.1% |
| Profit (loss) for the period | 9904 | -€8,700 | -€4,203 | +€4,498 | +51.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,700 | -€4,203 | +€4,498 | +51.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.