DENALUX: 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.
DENALUX
Largest movements
- Tangible fixed assets -€10,662
down €10,662 (-19.1%), from €55,958 to €45,296
of which Plant, machinery and equipment: -€9,853
- Receivables within one year +€7,367
up €7,367 (+173%), from €4,257 to €11,624
of which Other amounts receivable: +€5,644
- Deferred charges and accrued income -€1,238
no longer reported in 2025 (was €1,238)
- Cash -€1,124
down €1,124 (-22.7%), from €4,945 to €3,821
mainly Trade debts (-€28,562) and Debts after one year (-€12,765)
- Trade debts -€28,562
down €28,562 (-60.8%), from €47,000 to €18,438
- Profit (loss) carried forward +€27,673
up €27,673 (+39.4%), from -€70,175 to -€42,502
- Other debts +€12,965
up €12,965 (+122%), from €10,616 to €23,581
- Debts after one year -€12,765
down €12,765 (-33.9%), from €37,648 to €24,882
- Tax, wage and social debts -€4,931
down €4,931 (-16.4%), from €30,005 to €25,074
of which Remuneration and social security: -€14,133
- Gross operating margin +€114,313
up €114,313 (+163%), from €70,235 to €184,548
- Staff costs +€7,790
up €7,790 (+6.7%), from €116,748 to €124,538
- Financial charges +€4,538
up €4,538 (+51.6%), from €8,790 to €13,328
of which Non-recurring financial charges: +€4,381
- Depreciation +€2,375
up €2,375 (+19.5%), from €12,172 to €14,547
- Other operating charges +€1,880
up €1,880 (+68.8%), from €2,730 to €4,610
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 | €73,310 | €68,079 | -€5,231 | -7.1% |
| Fixed assets | 21/28 | €56,058 | €45,396 | -€10,662 | -19.0% |
| Tangible fixed assets | 22/27 | €55,958 | €45,296 | -€10,662 | -19.1% |
| Plant, machinery and equipment | 23 | €40,550 | €30,697 | -€9,853 | -24.3% |
| Furniture and vehicles | 24 | €15,408 | €14,599 | -€809 | -5.2% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €17,252 | €22,683 | +€5,431 | +31.5% |
| Stocks and contracts in progress | 3 | €6,812 | €7,238 | +€426 | +6.2% |
| Stocks | 30/36 | €6,812 | €7,238 | +€426 | +6.2% |
| Amounts receivable within one year | 40/41 | €4,257 | €11,624 | +€7,367 | +173% |
| Trade receivables | 40 | €1,500 | €3,222 | +€1,722 | +115% |
| Other amounts receivable | 41 | €2,757 | €8,401 | +€5,644 | +205% |
| Cash at bank and in hand | 54/58 | €4,945 | €3,821 | -€1,124 | -22.7% |
| Deferred charges and accrued income | 490/1 | €1,238 | - | -€1,238 | |
| Total equity and liabilities | 10/49 | €73,310 | €68,079 | -€5,231 | -7.1% |
| Equity | 10/15 | -€65,175 | -€37,502 | +€27,673 | +42.5% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€70,175 | -€42,502 | +€27,673 | +39.4% |
| Amounts payable | 17/49 | €138,485 | €105,581 | -€32,904 | -23.8% |
| Amounts payable after more than one year | 17 | €37,648 | €24,882 | -€12,765 | -33.9% |
| Financial debts | 170/4 | €37,648 | €24,882 | -€12,765 | -33.9% |
| Amounts payable within one year | 42/48 | €100,837 | €80,698 | -€20,139 | -20.0% |
| Current portion of amounts payable after more than one year | 42 | €13,216 | €13,605 | +€389 | +2.9% |
| Trade debts | 44 | €47,000 | €18,438 | -€28,562 | -60.8% |
| Suppliers | 440/4 | €47,000 | €18,438 | -€28,562 | -60.8% |
| Taxes, remuneration and social security | 45 | €30,005 | €25,074 | -€4,931 | -16.4% |
| Taxes | 450/3 | €9,292 | €18,494 | +€9,202 | +99.0% |
| Remuneration and social security | 454/9 | €20,713 | €6,580 | -€14,133 | -68.2% |
| Other amounts payable | 47/48 | €10,616 | €23,581 | +€12,965 | +122% |
| Remuneration, social security and pensions | 62 | €116,748 | €124,538 | +€7,790 | +6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,172 | €14,547 | +€2,375 | +19.5% |
| Other operating charges | 640/8 | €2,730 | €4,610 | +€1,880 | +68.8% |
| Gross operating margin | 9900 | €70,235 | €184,548 | +€114,313 | +163% |
| Operating profit (loss) | 9901 | -€61,416 | €40,854 | +€102,269 | |
| Financial income | 75/76B | €31 | €279 | +€249 | +810% |
| Recurring financial income | 75 | €31 | €279 | +€249 | +810% |
| Financial charges | 65/66B | €8,790 | €13,328 | +€4,538 | +51.6% |
| Recurring financial charges | 65 | €8,790 | €8,947 | +€157 | +1.8% |
| Non-recurring financial charges | 66B | - | €4,381 | +€4,381 | |
| Profit (loss) for the period before taxes | 9903 | -€70,175 | €27,805 | +€97,980 | |
| Income taxes | 67/77 | - | €132 | +€132 | |
| Profit (loss) for the period | 9904 | -€70,175 | €27,673 | +€97,848 | |
| Profit (loss) for the period to be appropriated | 9905 | -€70,175 | €27,673 | +€97,848 |
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 16 October 2026 via checked.be.