Dender: 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.
Dender
Largest movements
- Tangible fixed assets -€84,100
down €84,100 (-4.2%), from €2.0m to €1.9m
- Receivables within one year +€42,361
up €42,361 (+26.6%), from €159,138 to €201,499
- Cash +€27,852
up €27,852 (+9192.1%), from €303 to €28,155
mainly Depreciation (+€84,100)
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€1,912
up €1,912 (+2.3%), from €84,881 to €86,793
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 | €2,236,111 | €2,228,255 | -€7,856 | -0.4% |
| Fixed assets | 21/28 | €1,980,695 | €1,896,595 | -€84,100 | -4.2% |
| Tangible fixed assets | 22/27 | €1,980,695 | €1,896,595 | -€84,100 | -4.2% |
| Land and buildings | 22 | €1,980,695 | €1,896,595 | -€84,100 | -4.2% |
| Current assets | 29/58 | €255,416 | €331,660 | +€76,244 | +29.9% |
| Amounts receivable within one year | 40/41 | €159,138 | €201,499 | +€42,361 | +26.6% |
| Other amounts receivable | 41 | €159,138 | €201,499 | +€42,361 | +26.6% |
| Cash at bank and in hand | 54/58 | €303 | €28,155 | +€27,852 | +9192.1% |
| Deferred charges and accrued income | 490/1 | €95,975 | €102,006 | +€6,031 | +6.3% |
| Total equity and liabilities | 10/49 | €2,236,111 | €2,228,255 | -€7,856 | -0.4% |
| Equity | 10/15 | €2,222,521 | €2,214,665 | -€7,856 | -0.4% |
| Contributions | 10/11 | €2,230,000 | €2,230,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,479 | -€15,335 | -€7,856 | -105.0% |
| Amounts payable | 17/49 | €13,590 | €13,590 | = | 0.0% |
| Amounts payable within one year | 42/48 | €13,590 | €13,590 | = | 0.0% |
| Other amounts payable | 47/48 | €13,590 | €13,590 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,100 | €84,100 | = | 0.0% |
| Other operating charges | 640/8 | €10,613 | €10,527 | -€86 | -0.8% |
| Gross operating margin | 9900 | €84,881 | €86,793 | +€1,912 | +2.3% |
| Operating profit (loss) | 9901 | -€9,832 | -€7,834 | +€1,998 | +20.3% |
| Financial income | 75/76B | - | €23 | +€23 | |
| Recurring financial income | 75 | - | €23 | +€23 | |
| Financial charges | 65/66B | €41 | €45 | +€4 | +9.8% |
| Recurring financial charges | 65 | €41 | €45 | +€4 | +9.8% |
| Profit (loss) for the period before taxes | 9903 | -€9,873 | -€7,856 | +€2,017 | +20.4% |
| Profit (loss) for the period | 9904 | -€9,873 | -€7,856 | +€2,017 | +20.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,873 | -€7,856 | +€2,017 | +20.4% |
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 7 October 2026 via checked.be.