DENAGTERGAL FREDERIC: 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.
DENAGTERGAL FREDERIC
Largest movements
- Cash -€50,570
down €50,570 (-15.0%), from €337,424 to €286,854
mainly Other debts (-€42,983) and Advances received (-€21,120)
- Receivables within one year +€17,043
up €17,043 (+140%), from €12,161 to €29,204
of which Trade receivables: +€22,027
- Tangible fixed assets -€16,085
down €16,085 (-41.2%), from €39,027 to €22,942
- Other debts -€42,983
down €42,983 (-14.8%), from €290,000 to €247,017
- Profit (loss) carried forward +€26,400
up €26,400 (+61.8%), from €42,744 to €69,144
- Advances received -€21,120
no longer reported in 2025 (was €21,120)
- Tax, wage and social debts -€16,219
down €16,219 (-55.0%), from €29,497 to €13,278
- Trade debts +€4,582
up €4,582 (+299%), from €1,535 to €6,117
- Staff costs +€28,474
new in 2025: €28,474
- Gross operating margin +€6,058
up €6,058 (+8.0%), from €75,935 to €81,993
- Taxes -€3,456
down €3,456 (-27.4%), from €12,617 to €9,161
- Other operating charges -€865
down €865 (-48.6%), from €1,781 to €916
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 | €389,896 | €340,556 | -€49,340 | -12.7% |
| Fixed assets | 21/28 | €39,027 | €22,942 | -€16,085 | -41.2% |
| Tangible fixed assets | 22/27 | €39,027 | €22,942 | -€16,085 | -41.2% |
| Furniture and vehicles | 24 | €39,027 | €22,942 | -€16,085 | -41.2% |
| Current assets | 29/58 | €350,869 | €317,614 | -€33,255 | -9.5% |
| Amounts receivable within one year | 40/41 | €12,161 | €29,204 | +€17,043 | +140% |
| Trade receivables | 40 | €2,904 | €24,931 | +€22,027 | +759% |
| Other amounts receivable | 41 | €9,257 | €4,273 | -€4,984 | -53.8% |
| Cash at bank and in hand | 54/58 | €337,424 | €286,854 | -€50,570 | -15.0% |
| Deferred charges and accrued income | 490/1 | €1,284 | €1,556 | +€272 | +21.2% |
| Total equity and liabilities | 10/49 | €389,896 | €340,556 | -€49,340 | -12.7% |
| Equity | 10/15 | €47,744 | €74,144 | +€26,400 | +55.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,744 | €69,144 | +€26,400 | +61.8% |
| Amounts payable | 17/49 | €342,152 | €266,412 | -€75,740 | -22.1% |
| Amounts payable within one year | 42/48 | €342,152 | €266,412 | -€75,740 | -22.1% |
| Trade debts | 44 | €1,535 | €6,117 | +€4,582 | +299% |
| Suppliers | 440/4 | €1,535 | €6,117 | +€4,582 | +299% |
| Advances received on contracts in progress | 46 | €21,120 | - | -€21,120 | |
| Taxes, remuneration and social security | 45 | €29,497 | €13,278 | -€16,219 | -55.0% |
| Taxes | 450/3 | €29,497 | €13,278 | -€16,219 | -55.0% |
| Other amounts payable | 47/48 | €290,000 | €247,017 | -€42,983 | -14.8% |
| Non-recurring operating income | 76A | - | €462 | +€462 | |
| Remuneration, social security and pensions | 62 | - | €28,474 | +€28,474 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,833 | €16,985 | +€152 | +0.9% |
| Other operating charges | 640/8 | €1,781 | €916 | -€865 | -48.6% |
| Gross operating margin | 9900 | €75,935 | €81,993 | +€6,058 | +8.0% |
| Operating profit (loss) | 9901 | €57,321 | €35,618 | -€21,703 | -37.9% |
| Financial income | 75/76B | €9 | - | -€9 | |
| Recurring financial income | 75 | €9 | - | -€9 | |
| Financial charges | 65/66B | €4 | €57 | +€53 | +1,325% |
| Recurring financial charges | 65 | €4 | €57 | +€53 | +1,325% |
| Profit (loss) for the period before taxes | 9903 | €57,326 | €35,561 | -€21,765 | -38.0% |
| Income taxes | 67/77 | €12,617 | €9,161 | -€3,456 | -27.4% |
| Profit (loss) for the period | 9904 | €44,709 | €26,400 | -€18,309 | -41.0% |
| Profit (loss) for the period to be appropriated | 9905 | €44,709 | €26,400 | -€18,309 | -41.0% |
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 27 October 2026 via checked.be.