DENAYER & PARTNERS: 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.
DENAYER & PARTNERS
Largest movements
- Receivables within one year +€43,000
up €43,000 (+101%), from €42,498 to €85,499
- Cash -€31,514
down €31,514 (-26.4%), from €119,289 to €87,775
mainly Receivables within one year (-€43,000) and Tax, wage and social debts (-€19,081)
- Intangible fixed assets -€10,000
down €10,000 (-33.3%), from €30,000 to €20,000
- Tangible fixed assets +€8,807
up €8,807 (+54.4%), from €16,194 to €25,001
of which Other tangible fixed assets: +€11,763
- Trade debts +€20,720
up €20,720 (+478%), from €4,332 to €25,052
- Tax, wage and social debts -€19,081
down €19,081 (-35.1%), from €54,346 to €35,265
of which Taxes: -€18,461
- Reserves +€8,108
up €8,108 (+7.3%), from €111,123 to €119,231
- Gross operating margin -€21,796
down €21,796 (-27.0%), from €80,643 to €58,847
- Taxes -€14,486
down €14,486 (-70.0%), from €20,701 to €6,215
- Staff costs +€7,566
up €7,566 (+48.0%), from €15,770 to €23,336
- Other operating charges +€2,178
up €2,178 (+68.1%), from €3,197 to €5,375
- Depreciation +€1,787
up €1,787 (+13.5%), from €13,196 to €14,983
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 | €207,982 | €218,275 | +€10,293 | +4.9% |
| Fixed assets | 21/28 | €46,194 | €45,001 | -€1,193 | -2.6% |
| Intangible fixed assets | 21 | €30,000 | €20,000 | -€10,000 | -33.3% |
| Tangible fixed assets | 22/27 | €16,194 | €25,001 | +€8,807 | +54.4% |
| Plant, machinery and equipment | 23 | €1,406 | €1,090 | -€316 | -22.4% |
| Furniture and vehicles | 24 | €8,722 | €6,082 | -€2,641 | -30.3% |
| Other tangible fixed assets | 26 | €6,065 | €17,829 | +€11,763 | +194% |
| Current assets | 29/58 | €161,788 | €173,274 | +€11,486 | +7.1% |
| Amounts receivable within one year | 40/41 | €42,498 | €85,499 | +€43,000 | +101% |
| Trade receivables | 40 | €42,498 | €85,499 | +€43,000 | +101% |
| Cash at bank and in hand | 54/58 | €119,289 | €87,775 | -€31,514 | -26.4% |
| Total equity and liabilities | 10/49 | €207,982 | €218,275 | +€10,293 | +4.9% |
| Equity | 10/15 | €146,783 | €154,891 | +€8,108 | +5.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €111,123 | €119,231 | +€8,108 | +7.3% |
| Distributable reserves | 133 | €111,123 | €119,231 | +€8,108 | +7.3% |
| Profit (loss) carried forward | 14 | €23,260 | €23,260 | = | 0.0% |
| Amounts payable | 17/49 | €61,199 | €63,384 | +€2,185 | +3.6% |
| Amounts payable within one year | 42/48 | €60,059 | €63,384 | +€3,325 | +5.5% |
| Trade debts | 44 | €4,332 | €25,052 | +€20,720 | +478% |
| Suppliers | 440/4 | €4,332 | €25,052 | +€20,720 | +478% |
| Taxes, remuneration and social security | 45 | €54,346 | €35,265 | -€19,081 | -35.1% |
| Taxes | 450/3 | €53,714 | €35,253 | -€18,461 | -34.4% |
| Remuneration and social security | 454/9 | €632 | €12 | -€620 | -98.1% |
| Other amounts payable | 47/48 | €1,380 | €3,066 | +€1,687 | +122% |
| Accrued charges and deferred income | 492/3 | €1,140 | - | -€1,140 | |
| Non-recurring operating income | 76A | €2,593 | - | -€2,593 | |
| Remuneration, social security and pensions | 62 | €15,770 | €23,336 | +€7,566 | +48.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,196 | €14,983 | +€1,787 | +13.5% |
| Other operating charges | 640/8 | €3,197 | €5,375 | +€2,178 | +68.1% |
| Gross operating margin | 9900 | €80,643 | €58,847 | -€21,796 | -27.0% |
| Operating profit (loss) | 9901 | €48,480 | €15,153 | -€33,327 | -68.7% |
| Financial charges | 65/66B | €1,437 | €830 | -€607 | -42.2% |
| Recurring financial charges | 65 | €1,437 | €830 | -€607 | -42.2% |
| Profit (loss) for the period before taxes | 9903 | €47,043 | €14,323 | -€32,720 | -69.6% |
| Income taxes | 67/77 | €20,701 | €6,215 | -€14,486 | -70.0% |
| Profit (loss) for the period | 9904 | €26,342 | €8,108 | -€18,234 | -69.2% |
| Profit (loss) for the period to be appropriated | 9905 | €26,342 | €8,108 | -€18,234 | -69.2% |
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 24 October 2026 via checked.be.