DENARIUS: 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.
DENARIUS
Largest movements
- Receivables within one year +€98,742
up €98,742 (+88.3%), from €111,768 to €210,510
of which Trade receivables: +€98,628
- Current investments +€50,000
up €50,000 (+16.7%), from €300,000 to €350,000
- Cash +€48,932
up €48,932 (+200.3%), from €24,433 to €73,365
mainly Net result for the year (+€218,311) and Trade debts (+€13,184)
- Tangible fixed assets -€9,691
down €9,691 (-19.1%), from €50,619 to €40,929
of which Other tangible fixed assets: -€6,939
- Deferred charges and accrued income +€7,341
up €7,341 (+101.7%), from €7,218 to €14,559
- Profit (loss) carried forward +€218,311
up €218,311 (+59.3%), from €368,278 to €586,589
- Tax, wage and social debts -€36,562
down €36,562 (-68.7%), from €53,250 to €16,688
of which Taxes: -€37,123
- Trade debts +€13,184
up €13,184 (+353.1%), from €3,733 to €16,917
- Gross operating margin +€751,855
up €751,855 (+276.5%), from €271,928 to €1.0m
- Staff costs +€548,080
up €548,080 (+345.5%), from €158,620 to €706,700
- Taxes +€59,102
up €59,102 (+476.9%), from €12,394 to €71,496
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 | €497,289 | €692,613 | +€195,324 | +39.3% |
| Fixed assets | 21/28 | €53,869 | €44,179 | -€9,691 | -18.0% |
| Tangible fixed assets | 22/27 | €50,619 | €40,929 | -€9,691 | -19.1% |
| Furniture and vehicles | 24 | €3,002 | €250 | -€2,752 | -91.7% |
| Other tangible fixed assets | 26 | €47,618 | €40,678 | -€6,939 | -14.6% |
| Financial fixed assets | 28 | €3,250 | €3,250 | = | 0.0% |
| Current assets | 29/58 | €443,419 | €648,434 | +€205,015 | +46.2% |
| Amounts receivable within one year | 40/41 | €111,768 | €210,510 | +€98,742 | +88.3% |
| Trade receivables | 40 | €87,311 | €185,939 | +€98,628 | +113.0% |
| Other amounts receivable | 41 | €24,458 | €24,571 | +€114 | +0.5% |
| Current investments | 50/53 | €300,000 | €350,000 | +€50,000 | +16.7% |
| Cash at bank and in hand | 54/58 | €24,433 | €73,365 | +€48,932 | +200.3% |
| Deferred charges and accrued income | 490/1 | €7,218 | €14,559 | +€7,341 | +101.7% |
| Total equity and liabilities | 10/49 | €497,289 | €692,613 | +€195,324 | +39.3% |
| Equity | 10/15 | €439,778 | €658,089 | +€218,311 | +49.6% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Capital | 10 | €65,000 | €65,000 | = | 0.0% |
| Issued capital | 100 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €6,500 | €6,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,500 | €6,500 | = | 0.0% |
| Legal reserve | 130 | €6,500 | €6,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €368,278 | €586,589 | +€218,311 | +59.3% |
| Amounts payable | 17/49 | €57,510 | €34,524 | -€22,986 | -40.0% |
| Amounts payable within one year | 42/48 | €57,210 | €33,832 | -€23,378 | -40.9% |
| Trade debts | 44 | €3,733 | €16,917 | +€13,184 | +353.1% |
| Suppliers | 440/4 | €3,733 | €16,917 | +€13,184 | +353.1% |
| Taxes, remuneration and social security | 45 | €53,250 | €16,688 | -€36,562 | -68.7% |
| Taxes | 450/3 | €37,123 | €0 | -€37,123 | -100.0% |
| Remuneration and social security | 454/9 | €16,127 | €16,688 | +€561 | +3.5% |
| Other amounts payable | 47/48 | €227 | €227 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €300 | €692 | +€392 | +130.6% |
| Remuneration, social security and pensions | 62 | €158,620 | €706,700 | +€548,080 | +345.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,654 | €9,691 | -€963 | -9.0% |
| Other operating charges | 640/8 | €18,682 | €21,383 | +€2,702 | +14.5% |
| Gross operating margin | 9900 | €271,928 | €1,023,783 | +€751,855 | +276.5% |
| Operating profit (loss) | 9901 | €83,972 | €286,009 | +€202,036 | +240.6% |
| Financial income | 75/76B | €9,646 | €4,294 | -€5,352 | -55.5% |
| Recurring financial income | 75 | €9,646 | €4,294 | -€5,352 | -55.5% |
| Financial charges | 65/66B | €397 | €497 | +€99 | +25.0% |
| Recurring financial charges | 65 | €397 | €497 | +€99 | +25.0% |
| Profit (loss) for the period before taxes | 9903 | €93,221 | €289,806 | +€196,585 | +210.9% |
| Income taxes | 67/77 | €12,394 | €71,496 | +€59,102 | +476.9% |
| Profit (loss) for the period | 9904 | €80,827 | €218,311 | +€137,483 | +170.1% |
| Profit (loss) for the period to be appropriated | 9905 | €80,827 | €218,311 | +€137,483 | +170.1% |
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 12 October 2026 via checked.be.