DENALU: 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.
DENALU
Largest movements
- Cash +€9,074
up €9,074 (+734.9%), from €1,235 to €10,309
mainly Net result for the year (+€12,575) and Receivables within one year (+€5,785)
- Receivables within one year -€5,785
down €5,785 (-27.3%), from €21,194 to €15,410
of which Trade receivables: -€5,240
- Tangible fixed assets -€4,687
down €4,687 (-46.6%), from €10,057 to €5,370
of which Furniture and vehicles: -€3,505
- Profit (loss) carried forward +€10,909
up €10,909 (+80.2%), from €13,604 to €24,513
- Tax, wage and social debts -€8,107
down €8,107 (-77.2%), from €10,506 to €2,399
of which Remuneration and social security: -€6,631
- Trade debts -€6,050
down €6,050 (-92.4%), from €6,550 to €500
- Other debts +€1,676
new in 2025: €1,676
- Staff costs -€48,833
down €48,833 (-99.3%), from €49,157 to €324
- Gross operating margin -€13,694
down €13,694 (-38.6%), from €35,458 to €21,764
- Other operating charges +€2,912
new in 2025: €2,912
- Depreciation -€632
down €632 (-11.6%), from €5,460 to €4,828
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 | €32,661 | €31,088 | -€1,573 | -4.8% |
| Fixed assets | 21/28 | €10,232 | €5,370 | -€4,862 | -47.5% |
| Tangible fixed assets | 22/27 | €10,057 | €5,370 | -€4,687 | -46.6% |
| Plant, machinery and equipment | 23 | €998 | €349 | -€649 | -65.1% |
| Furniture and vehicles | 24 | €7,300 | €3,795 | -€3,505 | -48.0% |
| Other tangible fixed assets | 26 | €1,759 | €1,226 | -€533 | -30.3% |
| Financial fixed assets | 28 | €175 | - | -€175 | |
| Current assets | 29/58 | €22,429 | €25,719 | +€3,290 | +14.7% |
| Amounts receivable within one year | 40/41 | €21,194 | €15,410 | -€5,785 | -27.3% |
| Trade receivables | 40 | €20,649 | €15,410 | -€5,240 | -25.4% |
| Other amounts receivable | 41 | €545 | - | -€545 | |
| Cash at bank and in hand | 54/58 | €1,235 | €10,309 | +€9,074 | +734.9% |
| Total equity and liabilities | 10/49 | €32,661 | €31,088 | -€1,573 | -4.8% |
| Equity | 10/15 | €15,604 | €26,513 | +€10,909 | +69.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €13,604 | €24,513 | +€10,909 | +80.2% |
| Amounts payable | 17/49 | €17,057 | €4,575 | -€12,482 | -73.2% |
| Amounts payable within one year | 42/48 | €17,057 | €4,575 | -€12,482 | -73.2% |
| Trade debts | 44 | €6,550 | €500 | -€6,050 | -92.4% |
| Suppliers | 440/4 | €6,550 | €500 | -€6,050 | -92.4% |
| Taxes, remuneration and social security | 45 | €10,506 | €2,399 | -€8,107 | -77.2% |
| Taxes | 450/3 | €3,875 | €2,399 | -€1,476 | -38.1% |
| Remuneration and social security | 454/9 | €6,631 | - | -€6,631 | |
| Other amounts payable | 47/48 | - | €1,676 | +€1,676 | |
| Remuneration, social security and pensions | 62 | €49,157 | €324 | -€48,833 | -99.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,460 | €4,828 | -€632 | -11.6% |
| Other operating charges | 640/8 | - | €2,912 | +€2,912 | |
| Non-recurring operating charges | 66A | - | €959 | +€959 | |
| Gross operating margin | 9900 | €35,458 | €21,764 | -€13,694 | -38.6% |
| Operating profit (loss) | 9901 | -€19,158 | €12,741 | +€31,899 | |
| Financial income | 75/76B | €24 | - | -€24 | |
| Recurring financial income | 75 | €24 | - | -€24 | |
| Financial charges | 65/66B | €171 | €166 | -€6 | -3.4% |
| Recurring financial charges | 65 | €171 | €166 | -€6 | -3.4% |
| Profit (loss) for the period before taxes | 9903 | -€19,306 | €12,575 | +€31,881 | |
| Profit (loss) for the period | 9904 | -€19,306 | €12,575 | +€31,881 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,306 | €12,575 | +€31,881 |
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 12 October 2026 via checked.be.