DENDER CONSTRUCT: 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 CONSTRUCT
Largest movements
- Receivables within one year -€67,169
down €67,169 (-30.7%), from €218,693 to €151,524
of which Trade receivables: -€72,194
- Tangible fixed assets -€45,255
down €45,255 (-13.4%), from €336,763 to €291,508
of which Furniture and vehicles: -€26,731
- Accrued charges and deferred income -€47,285
down €47,285 (-41.9%), from €112,794 to €65,509
- Debts after one year -€39,123
down €39,123 (-24.5%), from €159,985 to €120,861
- Short-term financial debts -€20,000
down €20,000 (-25.6%), from €78,000 to €58,000
- Other debts -€10,567
down €10,567 (-43.7%), from €24,167 to €13,600
- Gross operating margin -€30,511
down €30,511 (-14.2%), from €214,399 to €183,888
- Staff costs -€27,792
down €27,792 (-31.1%), from €89,503 to €61,711
- Financial charges -€2,393
down €2,393 (-14.1%), from €16,974 to €14,581
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 | €568,215 | €457,750 | -€110,465 | -19.4% |
| Fixed assets | 21/28 | €338,955 | €293,701 | -€45,255 | -13.4% |
| Tangible fixed assets | 22/27 | €336,763 | €291,508 | -€45,255 | -13.4% |
| Land and buildings | 22 | €186,971 | €163,102 | -€23,868 | -12.8% |
| Plant, machinery and equipment | 23 | €21,282 | €26,626 | +€5,344 | +25.1% |
| Furniture and vehicles | 24 | €128,511 | €101,780 | -€26,731 | -20.8% |
| Financial fixed assets | 28 | €2,193 | €2,193 | = | 0.0% |
| Current assets | 29/58 | €229,260 | €164,049 | -€65,211 | -28.4% |
| Amounts receivable within one year | 40/41 | €218,693 | €151,524 | -€67,169 | -30.7% |
| Trade receivables | 40 | €214,468 | €142,274 | -€72,194 | -33.7% |
| Other amounts receivable | 41 | €4,225 | €9,250 | +€5,025 | +118.9% |
| Cash at bank and in hand | 54/58 | €2,234 | €6,309 | +€4,075 | +182.4% |
| Deferred charges and accrued income | 490/1 | €8,333 | €6,216 | -€2,116 | -25.4% |
| Total equity and liabilities | 10/49 | €568,215 | €457,750 | -€110,465 | -19.4% |
| Equity | 10/15 | €101,549 | €105,467 | +€3,918 | +3.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Capital | 10 | €18,550 | €18,550 | = | 0.0% |
| Issued capital | 100 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €2,339 | €2,339 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Legal reserve | 130 | €1,855 | €1,855 | = | 0.0% |
| Tax-exempt reserves | 132 | €484 | €484 | = | 0.0% |
| Profit (loss) carried forward | 14 | €80,660 | €84,578 | +€3,918 | +4.9% |
| Amounts payable | 17/49 | €466,666 | €352,283 | -€114,383 | -24.5% |
| Amounts payable after more than one year | 17 | €159,985 | €120,861 | -€39,123 | -24.5% |
| Financial debts | 170/4 | €159,985 | €120,861 | -€39,123 | -24.5% |
| Amounts payable within one year | 42/48 | €193,888 | €165,912 | -€27,975 | -14.4% |
| Current portion of amounts payable after more than one year | 42 | €74,786 | €80,290 | +€5,504 | +7.4% |
| Financial debts | 43 | €78,000 | €58,000 | -€20,000 | -25.6% |
| Credit institutions | 430/8 | €78,000 | €58,000 | -€20,000 | -25.6% |
| Trade debts | 44 | €3,675 | €235 | -€3,439 | -93.6% |
| Suppliers | 440/4 | €3,675 | €235 | -€3,439 | -93.6% |
| Taxes, remuneration and social security | 45 | €13,260 | €13,787 | +€527 | +4.0% |
| Taxes | 450/3 | €7,521 | €6,114 | -€1,407 | -18.7% |
| Remuneration and social security | 454/9 | €5,739 | €7,673 | +€1,934 | +33.7% |
| Other amounts payable | 47/48 | €24,167 | €13,600 | -€10,567 | -43.7% |
| Accrued charges and deferred income | 492/3 | €112,794 | €65,509 | -€47,285 | -41.9% |
| Remuneration, social security and pensions | 62 | €89,503 | €61,711 | -€27,792 | -31.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,895 | €91,188 | +€293 | +0.3% |
| Other operating charges | 640/8 | €10,017 | €10,086 | +€69 | +0.7% |
| Gross operating margin | 9900 | €214,399 | €183,888 | -€30,511 | -14.2% |
| Operating profit (loss) | 9901 | €23,983 | €20,902 | -€3,081 | -12.8% |
| Financial income | 75/76B | €20 | €182 | +€162 | +820.5% |
| Recurring financial income | 75 | €20 | €182 | +€162 | +820.5% |
| Financial charges | 65/66B | €16,974 | €14,581 | -€2,393 | -14.1% |
| Recurring financial charges | 65 | €16,974 | €14,581 | -€2,393 | -14.1% |
| Profit (loss) for the period before taxes | 9903 | €7,029 | €6,502 | -€527 | -7.5% |
| Income taxes | 67/77 | €2,821 | €2,585 | -€236 | -8.4% |
| Profit (loss) for the period | 9904 | €4,208 | €3,918 | -€290 | -6.9% |
| Profit (loss) for the period to be appropriated | 9905 | €4,208 | €3,918 | -€290 | -6.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.