DENAND: 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.
DENAND
Largest movements
- Tangible fixed assets -€3,825
down €3,825 (-4.8%), from €79,453 to €75,628
of which Land and buildings: -€3,313
- Receivables within one year -€1,490
down €1,490 (-67.7%), from €2,200 to €710
- Debts after one year -€6,667
down €6,667 (-9.4%), from €71,111 to €64,444
- Gross operating margin -€2,652
down €2,652 (-18.0%), from €14,761 to €12,108
- Taxes -€782
down €782 (-72.8%), from €1,074 to €292
- Depreciation +€514
up €514 (+6.6%), from €7,738 to €8,252
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 | €85,544 | €79,492 | -€6,052 | -7.1% |
| Fixed assets | 21/28 | €79,453 | €75,628 | -€3,825 | -4.8% |
| Tangible fixed assets | 22/27 | €79,453 | €75,628 | -€3,825 | -4.8% |
| Land and buildings | 22 | €78,430 | €75,117 | -€3,313 | -4.2% |
| Plant, machinery and equipment | 23 | €1,023 | €512 | -€511 | -50.0% |
| Current assets | 29/58 | €6,091 | €3,864 | -€2,227 | -36.6% |
| Amounts receivable within one year | 40/41 | €2,200 | €710 | -€1,490 | -67.7% |
| Other amounts receivable | 41 | €2,200 | €710 | -€1,490 | -67.7% |
| Cash at bank and in hand | 54/58 | €3,884 | €3,154 | -€730 | -18.8% |
| Deferred charges and accrued income | 490/1 | €6 | - | -€6 | |
| Total equity and liabilities | 10/49 | €85,544 | €79,492 | -€6,052 | -7.1% |
| Equity | 10/15 | €6,884 | €7,429 | +€546 | +7.9% |
| Contributions | 10/11 | €6,475 | €6,475 | = | 0.0% |
| Reserves | 13 | €408 | €954 | +€546 | +133.8% |
| Distributable reserves | 133 | €408 | €954 | +€546 | +133.8% |
| Amounts payable | 17/49 | €78,660 | €72,063 | -€6,598 | -8.4% |
| Amounts payable after more than one year | 17 | €71,111 | €64,444 | -€6,667 | -9.4% |
| Financial debts | 170/4 | €71,111 | €64,444 | -€6,667 | -9.4% |
| Amounts payable within one year | 42/48 | €7,549 | €7,619 | +€69 | +0.9% |
| Current portion of amounts payable after more than one year | 42 | €6,667 | €6,667 | = | 0.0% |
| Trade debts | 44 | - | €46 | +€46 | |
| Suppliers | 440/4 | - | €46 | +€46 | |
| Taxes, remuneration and social security | 45 | €65 | €65 | = | 0.0% |
| Taxes | 450/3 | €65 | €65 | = | 0.0% |
| Other amounts payable | 47/48 | €817 | €841 | +€23 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,738 | €8,252 | +€514 | +6.6% |
| Other operating charges | 640/8 | €2,830 | €2,895 | +€64 | +2.3% |
| Gross operating margin | 9900 | €14,761 | €12,108 | -€2,652 | -18.0% |
| Operating profit (loss) | 9901 | €4,192 | €962 | -€3,230 | -77.0% |
| Financial income | 75/76B | €29 | €6 | -€23 | -79.9% |
| Recurring financial income | 75 | €29 | €6 | -€23 | -79.9% |
| Financial charges | 65/66B | €105 | €130 | +€25 | +23.8% |
| Recurring financial charges | 65 | €105 | €130 | +€25 | +23.8% |
| Profit (loss) for the period before taxes | 9903 | €4,116 | €838 | -€3,278 | -79.6% |
| Income taxes | 67/77 | €1,074 | €292 | -€782 | -72.8% |
| Profit (loss) for the period | 9904 | €3,042 | €546 | -€2,496 | -82.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,042 | €546 | -€2,496 | -82.1% |
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 9 October 2026 via checked.be.