DENAYER TOOLS: 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 TOOLS
Largest movements
- Cash -€39,862
down €39,862 (-23.2%), from €171,610 to €131,748
mainly Debts after one year (-€50,000) and Trade debts (-€19,738)
- Receivables within one year -€24,132
down €24,132 (-26.2%), from €92,227 to €68,095
of which Trade receivables: -€29,132
- Stocks and contracts -€10,631
down €10,631 (-3.4%), from €313,203 to €302,572
- Debts after one year -€50,000
down €50,000 (-16.7%), from €300,000 to €250,000
- Contributions -€20,000
no longer reported in 2025 (was €20,000)
- Reserves +€20,000
up €20,000 (+38.5%), from €52,000 to €72,000
of which Distributable reserves: +€22,000
- Trade debts -€19,738
down €19,738 (-50.7%), from €38,924 to €19,185
- Profit (loss) carried forward -€6,223
down €6,223 (-3.8%), from €162,574 to €156,351
- Gross operating margin -€38,115
down €38,115 (-64.5%), from €59,048 to €20,932
- Write-downs -€15,972
down €15,972 (-86.3%), from €18,501 to €2,530
- Financial charges +€6,945
up €6,945 (+33.1%), from €20,958 to €27,903
- Financial income +€2,561
up €2,561 (+229.5%), from €1,116 to €3,677
- Taxes -€2,474
no longer reported in 2025 (was €2,474)
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 | €577,040 | €502,415 | -€74,625 | -12.9% |
| Current assets | 29/58 | €577,040 | €502,415 | -€74,625 | -12.9% |
| Stocks and contracts in progress | 3 | €313,203 | €302,572 | -€10,631 | -3.4% |
| Stocks | 30/36 | €313,203 | €302,572 | -€10,631 | -3.4% |
| Amounts receivable within one year | 40/41 | €92,227 | €68,095 | -€24,132 | -26.2% |
| Trade receivables | 40 | €92,227 | €63,095 | -€29,132 | -31.6% |
| Other amounts receivable | 41 | - | €5,000 | +€5,000 | |
| Cash at bank and in hand | 54/58 | €171,610 | €131,748 | -€39,862 | -23.2% |
| Total equity and liabilities | 10/49 | €577,040 | €502,415 | -€74,625 | -12.9% |
| Equity | 10/15 | €234,574 | €228,351 | -€6,223 | -2.7% |
| Contributions | 10/11 | €20,000 | - | -€20,000 | |
| Reserves | 13 | €52,000 | €72,000 | +€20,000 | +38.5% |
| Non-distributable reserves | 130/1 | €2,000 | - | -€2,000 | |
| Reserves not available under the articles | 1311 | €2,000 | - | -€2,000 | |
| Tax-exempt reserves | 132 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €40,000 | €62,000 | +€22,000 | +55.0% |
| Profit (loss) carried forward | 14 | €162,574 | €156,351 | -€6,223 | -3.8% |
| Amounts payable | 17/49 | €342,466 | €274,064 | -€68,402 | -20.0% |
| Amounts payable after more than one year | 17 | €300,000 | €250,000 | -€50,000 | -16.7% |
| Financial debts | 170/4 | €300,000 | €250,000 | -€50,000 | -16.7% |
| Amounts payable within one year | 42/48 | €42,466 | €24,064 | -€18,402 | -43.3% |
| Trade debts | 44 | €38,924 | €19,185 | -€19,738 | -50.7% |
| Suppliers | 440/4 | €38,924 | €19,185 | -€19,738 | -50.7% |
| Taxes, remuneration and social security | 45 | €3,542 | €4,879 | +€1,337 | +37.7% |
| Taxes | 450/3 | €3,542 | €4,879 | +€1,337 | +37.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €18,501 | €2,530 | -€15,972 | -86.3% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €59,048 | €20,932 | -€38,115 | -64.5% |
| Operating profit (loss) | 9901 | €40,159 | €18,003 | -€22,156 | -55.2% |
| Financial income | 75/76B | €1,116 | €3,677 | +€2,561 | +229.5% |
| Recurring financial income | 75 | €1,116 | €3,677 | +€2,561 | +229.5% |
| Financial charges | 65/66B | €20,958 | €27,903 | +€6,945 | +33.1% |
| Recurring financial charges | 65 | €20,958 | €27,903 | +€6,945 | +33.1% |
| Profit (loss) for the period before taxes | 9903 | €20,317 | -€6,223 | -€26,540 | |
| Income taxes | 67/77 | €2,474 | - | -€2,474 | |
| Profit (loss) for the period | 9904 | €17,843 | -€6,223 | -€24,066 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,843 | -€6,223 | -€24,066 |
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 10 October 2026 via checked.be.