DEN TIPZAK: 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 TIPZAK
Largest movements
- Tangible fixed assets -€32,553
down €32,553 (-4.2%), from €781,412 to €748,859
of which Furniture and vehicles: -€18,429
- Cash -€11,345
down €11,345 (-15.6%), from €72,923 to €61,578
mainly Debts after one year (-€59,565) and Other debts (-€22,330)
- Reserves +€59,588
up €59,588 (+19.6%), from €304,090 to €363,678
- Debts after one year -€59,565
down €59,565 (-15.3%), from €390,199 to €330,634
- Other debts -€22,330
down €22,330 (-46.1%), from €48,473 to €26,143
- Trade debts -€12,384
down €12,384 (-27.5%), from €45,019 to €32,635
- Current portion of long-term debt -€9,086
down €9,086 (-13.2%), from €68,651 to €59,565
- Gross operating margin -€62,889
down €62,889 (-24.2%), from €260,019 to €197,130
- Staff costs -€31,732
down €31,732 (-43.3%), from €73,235 to €41,503
- Depreciation -€5,874
down €5,874 (-10.3%), from €57,096 to €51,223
- Financial charges -€3,738
down €3,738 (-25.0%), from €14,922 to €11,185
of which Financial charges: -€3,738
- Other operating charges -€2,877
down €2,877 (-28.3%), from €10,179 to €7,303
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 | €893,850 | €843,440 | -€50,411 | -5.6% |
| Fixed assets | 21/28 | €781,412 | €748,859 | -€32,553 | -4.2% |
| Tangible fixed assets | 22/27 | €781,412 | €748,859 | -€32,553 | -4.2% |
| Land and buildings | 22 | €674,120 | €664,263 | -€9,858 | -1.5% |
| Plant, machinery and equipment | 23 | €39,486 | €36,981 | -€2,505 | -6.3% |
| Furniture and vehicles | 24 | €60,350 | €41,920 | -€18,429 | -30.5% |
| Leasing and similar rights | 25 | €7,456 | €5,695 | -€1,761 | -23.6% |
| Current assets | 29/58 | €112,438 | €94,580 | -€17,858 | -15.9% |
| Stocks and contracts in progress | 3 | €10,343 | €11,675 | +€1,332 | +12.9% |
| Stocks | 30/36 | €10,343 | €11,675 | +€1,332 | +12.9% |
| Amounts receivable within one year | 40/41 | €23,194 | €18,590 | -€4,604 | -19.8% |
| Trade receivables | 40 | €14,905 | €3,338 | -€11,567 | -77.6% |
| Other amounts receivable | 41 | €8,288 | €15,251 | +€6,963 | +84.0% |
| Cash at bank and in hand | 54/58 | €72,923 | €61,578 | -€11,345 | -15.6% |
| Deferred charges and accrued income | 490/1 | €5,978 | €2,737 | -€3,241 | -54.2% |
| Total equity and liabilities | 10/49 | €893,850 | €843,440 | -€50,411 | -5.6% |
| Equity | 10/15 | €329,090 | €388,678 | +€59,588 | +18.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €304,090 | €363,678 | +€59,588 | +19.6% |
| Distributable reserves | 133 | €304,090 | €363,678 | +€59,588 | +19.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €564,761 | €454,762 | -€109,999 | -19.5% |
| Amounts payable after more than one year | 17 | €390,199 | €330,634 | -€59,565 | -15.3% |
| Financial debts | 170/4 | €390,199 | €330,634 | -€59,565 | -15.3% |
| Amounts payable within one year | 42/48 | €164,880 | €121,123 | -€43,757 | -26.5% |
| Current portion of amounts payable after more than one year | 42 | €68,651 | €59,565 | -€9,086 | -13.2% |
| Trade debts | 44 | €45,019 | €32,635 | -€12,384 | -27.5% |
| Suppliers | 440/4 | €45,019 | €32,635 | -€12,384 | -27.5% |
| Advances received on contracts in progress | 46 | €420 | €0 | -€420 | -100% |
| Taxes, remuneration and social security | 45 | €2,316 | €2,779 | +€463 | +20.0% |
| Taxes | 450/3 | €2,316 | €2,779 | +€463 | +20.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €48,473 | €26,143 | -€22,330 | -46.1% |
| Accrued charges and deferred income | 492/3 | €9,682 | €3,005 | -€6,677 | -69.0% |
| Remuneration, social security and pensions | 62 | €73,235 | €41,503 | -€31,732 | -43.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,096 | €51,223 | -€5,874 | -10.3% |
| Other operating charges | 640/8 | €10,179 | €7,303 | -€2,877 | -28.3% |
| Non-recurring operating charges | 66A | €1,358 | €3,402 | +€2,044 | +151% |
| Gross operating margin | 9900 | €260,019 | €197,130 | -€62,889 | -24.2% |
| Operating profit (loss) | 9901 | €118,151 | €93,700 | -€24,451 | -20.7% |
| Financial income | 75/76B | €123 | €685 | +€561 | +454% |
| Recurring financial income | 75 | €123 | €685 | +€561 | +454% |
| Financial charges | 65/66B | €14,922 | €11,185 | -€3,738 | -25.0% |
| Recurring financial charges | 65 | €14,922 | €11,185 | -€3,738 | -25.0% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €103,352 | €83,200 | -€20,152 | -19.5% |
| Income taxes | 67/77 | €21,880 | €22,779 | +€899 | +4.1% |
| Profit (loss) for the period | 9904 | €81,471 | €60,421 | -€21,051 | -25.8% |
| Profit (loss) for the period to be appropriated | 9905 | €81,471 | €60,421 | -€21,051 | -25.8% |
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.