DENA: 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.
DENA
Largest movements
- Stocks and contracts +€519,755
up €519,755 (+1,137%), from €45,696 to €565,451
- Current investments -€347,685
down €347,685 (-99.3%), from €350,000 to €2,315
- Cash -€69,058
no longer reported in 2025 (was €69,058)
mainly Stocks and contracts (-€519,755) and Tax, wage and social debts (-€34,922)
- Tangible fixed assets -€7,950
down €7,950 (-57.9%), from €13,729 to €5,779
- Other debts +€115,197
up €115,197 (+778%), from €14,803 to €130,000
- Tax, wage and social debts -€34,922
down €34,922 (-57.0%), from €61,288 to €26,366
of which Taxes: -€59,779
- Reserves +€14,000
up €14,000 (+5.6%), from €248,420 to €262,420
- Gross operating margin -€28,091
down €28,091 (-54.0%), from €52,038 to €23,947
- Financial charges -€11,929
down €11,929 (-99.7%), from €11,971 to €42
- Financial income +€5,368
up €5,368 (+787%), from €682 to €6,050
- Taxes -€3,367
down €3,367 (-32.6%), from €10,344 to €6,977
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 | €483,137 | €574,532 | +€91,395 | +18.9% |
| Fixed assets | 21/28 | €13,729 | €5,779 | -€7,950 | -57.9% |
| Tangible fixed assets | 22/27 | €13,729 | €5,779 | -€7,950 | -57.9% |
| Furniture and vehicles | 24 | €13,729 | €5,779 | -€7,950 | -57.9% |
| Current assets | 29/58 | €469,408 | €568,753 | +€99,344 | +21.2% |
| Stocks and contracts in progress | 3 | €45,696 | €565,451 | +€519,755 | +1,137% |
| Stocks | 30/36 | €45,696 | €565,451 | +€519,755 | +1,137% |
| Amounts receivable within one year | 40/41 | €2,714 | €987 | -€1,727 | -63.6% |
| Other amounts receivable | 41 | €2,714 | €987 | -€1,727 | -63.6% |
| Current investments | 50/53 | €350,000 | €2,315 | -€347,685 | -99.3% |
| Cash at bank and in hand | 54/58 | €69,058 | - | -€69,058 | |
| Deferred charges and accrued income | 490/1 | €1,941 | - | -€1,941 | |
| Total equity and liabilities | 10/49 | €483,137 | €574,532 | +€91,395 | +18.9% |
| Equity | 10/15 | €371,561 | €386,002 | +€14,441 | +3.9% |
| Contributions | 10/11 | €110,000 | €110,000 | = | 0.0% |
| Reserves | 13 | €248,420 | €262,420 | +€14,000 | +5.6% |
| Distributable reserves | 133 | €248,420 | €262,420 | +€14,000 | +5.6% |
| Profit (loss) carried forward | 14 | €13,141 | €13,582 | +€441 | +3.4% |
| Amounts payable | 17/49 | €111,577 | €188,530 | +€76,953 | +69.0% |
| Amounts payable after more than one year | 17 | €20,000 | €20,000 | = | 0.0% |
| Financial debts | 170/4 | €20,000 | €20,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €79,860 | €161,762 | +€81,902 | +103% |
| Trade debts | 44 | €3,768 | €5,396 | +€1,627 | +43.2% |
| Suppliers | 440/4 | €3,768 | €5,396 | +€1,627 | +43.2% |
| Taxes, remuneration and social security | 45 | €61,288 | €26,366 | -€34,922 | -57.0% |
| Taxes | 450/3 | €61,288 | €1,509 | -€59,779 | -97.5% |
| Remuneration and social security | 454/9 | - | €24,857 | +€24,857 | |
| Other amounts payable | 47/48 | €14,803 | €130,000 | +€115,197 | +778% |
| Accrued charges and deferred income | 492/3 | €11,717 | €6,768 | -€4,949 | -42.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,950 | €7,950 | = | 0.0% |
| Other operating charges | 640/8 | €895 | €587 | -€307 | -34.3% |
| Gross operating margin | 9900 | €52,038 | €23,947 | -€28,091 | -54.0% |
| Operating profit (loss) | 9901 | €43,194 | €15,410 | -€27,783 | -64.3% |
| Financial income | 75/76B | €682 | €6,050 | +€5,368 | +787% |
| Recurring financial income | 75 | €682 | €6,050 | +€5,368 | +787% |
| Financial charges | 65/66B | €11,971 | €42 | -€11,929 | -99.7% |
| Recurring financial charges | 65 | €11,971 | €42 | -€11,929 | -99.7% |
| Profit (loss) for the period before taxes | 9903 | €31,905 | €21,419 | -€10,486 | -32.9% |
| Income taxes | 67/77 | €10,344 | €6,977 | -€3,367 | -32.6% |
| Profit (loss) for the period | 9904 | €21,560 | €14,441 | -€7,119 | -33.0% |
| Profit (loss) for the period to be appropriated | 9905 | €21,560 | €14,441 | -€7,119 | -33.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.