DENCO: what changed
Two fiscal 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.
DENCO
Largest movements
- Cash +€30,295
up €30,295 (+58.3%), from €51,950 to €82,245
mainly Other debts (+€31,498) and Net result for the year (+€16,242)
- Receivables within one year -€7,027
down €7,027 (-58.0%), from €12,108 to €5,081
of which Trade receivables: -€6,042
- Deferred charges and accrued income +€4,479
up €4,479 (+287.1%), from €1,560 to €6,038
- Tangible fixed assets -€1,840
down €1,840 (-38.8%), from €4,749 to €2,909
- Other debts +€31,498
up €31,498 (+35435.3%), from €89 to €31,587
- Profit (loss) carried forward -€23,758
down €23,758 (-43.2%), from €55,052 to €31,294
- Tax, wage and social debts +€15,824
up €15,824 (+129.4%), from €12,226 to €28,050
of which Remuneration and social security: +€8,398
- Trade debts +€2,343
new in 2025: €2,343
- Gross operating margin +€35,415
up €35,415, from -€15,977 to €19,437
- Taxes -€8,093
down €8,093 (-98.1%), from €8,246 to €153
- Depreciation +€1,118
up €1,118 (+154.9%), from €722 to €1,840
- Other operating charges +€632
up €632 (+145.5%), from €434 to €1,066
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 | €70,367 | €96,274 | +€25,907 | +36.8% |
| Fixed assets | 21/28 | €4,749 | €2,909 | -€1,840 | -38.8% |
| Tangible fixed assets | 22/27 | €4,749 | €2,909 | -€1,840 | -38.8% |
| Furniture and vehicles | 24 | €4,749 | €2,909 | -€1,840 | -38.8% |
| Current assets | 29/58 | €65,617 | €93,365 | +€27,747 | +42.3% |
| Amounts receivable within one year | 40/41 | €12,108 | €5,081 | -€7,027 | -58.0% |
| Trade receivables | 40 | €8,737 | €2,695 | -€6,042 | -69.1% |
| Other amounts receivable | 41 | €3,371 | €2,386 | -€985 | -29.2% |
| Cash at bank and in hand | 54/58 | €51,950 | €82,245 | +€30,295 | +58.3% |
| Deferred charges and accrued income | 490/1 | €1,560 | €6,038 | +€4,479 | +287.1% |
| Total equity and liabilities | 10/49 | €70,367 | €96,274 | +€25,907 | +36.8% |
| Equity | 10/15 | €58,052 | €34,294 | -€23,758 | -40.9% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,052 | €31,294 | -€23,758 | -43.2% |
| Amounts payable | 17/49 | €12,315 | €61,980 | +€49,665 | +403.3% |
| Amounts payable within one year | 42/48 | €12,315 | €61,980 | +€49,665 | +403.3% |
| Trade debts | 44 | - | €2,343 | +€2,343 | |
| Suppliers | 440/4 | - | €2,343 | +€2,343 | |
| Taxes, remuneration and social security | 45 | €12,226 | €28,050 | +€15,824 | +129.4% |
| Taxes | 450/3 | €5,756 | €13,183 | +€7,427 | +129.0% |
| Remuneration and social security | 454/9 | €6,470 | €14,867 | +€8,398 | +129.8% |
| Other amounts payable | 47/48 | €89 | €31,587 | +€31,498 | +35435.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €722 | €1,840 | +€1,118 | +154.9% |
| Other operating charges | 640/8 | €434 | €1,066 | +€632 | +145.5% |
| Gross operating margin | 9900 | -€15,977 | €19,437 | +€35,415 | |
| Operating profit (loss) | 9901 | -€17,134 | €16,531 | +€33,665 | |
| Financial income | 75/76B | €5 | - | -€5 | |
| Recurring financial income | 75 | €5 | - | -€5 | |
| Financial charges | 65/66B | €280 | €136 | -€144 | -51.5% |
| Recurring financial charges | 65 | €280 | €136 | -€144 | -51.5% |
| Profit (loss) for the period before taxes | 9903 | -€17,408 | €16,395 | +€33,803 | |
| Income taxes | 67/77 | €8,246 | €153 | -€8,093 | -98.1% |
| Profit (loss) for the period | 9904 | -€25,654 | €16,242 | +€41,896 | |
| Profit (loss) for the period to be appropriated | 9905 | -€25,654 | €16,242 | +€41,896 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.