DENDER INVEST: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
DENDER INVEST
Largest movements
- Stocks and contracts -€328,000
down €328,000 (-65.2%), from €503,000 to €175,000
- Cash -€108,950
down €108,950 (-97.3%), from €111,941 to €2,991
mainly Other debts (-€222,694) and Net result for the year (-€155,242)
- Receivables within one year +€9,485
up €9,485 (+237%), from €4,000 to €13,485
of which Trade receivables: +€13,485
- Other debts -€222,694
down €222,694 (-34.1%), from €652,866 to €430,172
- Profit (loss) carried forward -€155,242
down €155,242 (-82.6%), from -€187,882 to -€343,124
- Advances received -€53,331
down €53,331 (-76.6%), from €69,648 to €16,317
- Gross operating margin -€58,567
down €58,567 (-72.1%), from -€81,265 to -€139,831
- Financial charges -€9,855
down €9,855 (-46.5%), from €21,197 to €11,343
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €640,083 | €209,891 | -€430,192 | -67.2% |
| Fixed assets | 21/28 | €21,141 | €18,415 | -€2,727 | -12.9% |
| Tangible fixed assets | 22/27 | €21,141 | €18,415 | -€2,727 | -12.9% |
| Furniture and vehicles | 24 | €21,141 | €18,415 | -€2,727 | -12.9% |
| Current assets | 29/58 | €618,941 | €191,476 | -€427,465 | -69.1% |
| Stocks and contracts in progress | 3 | €503,000 | €175,000 | -€328,000 | -65.2% |
| Stocks | 30/36 | €503,000 | €175,000 | -€328,000 | -65.2% |
| Amounts receivable within one year | 40/41 | €4,000 | €13,485 | +€9,485 | +237% |
| Trade receivables | 40 | - | €13,485 | +€13,485 | |
| Other amounts receivable | 41 | €4,000 | - | -€4,000 | |
| Cash at bank and in hand | 54/58 | €111,941 | €2,991 | -€108,950 | -97.3% |
| Total equity and liabilities | 10/49 | €640,083 | €209,891 | -€430,192 | -67.2% |
| Equity | 10/15 | -€167,882 | -€323,124 | -€155,242 | -92.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Contributions outside capital | 11 | €20,000 | €20,000 | = | 0.0% |
| Other | 1109/19 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€187,882 | -€343,124 | -€155,242 | -82.6% |
| Amounts payable | 17/49 | €807,965 | €533,015 | -€274,950 | -34.0% |
| Amounts payable within one year | 42/48 | €807,965 | €533,015 | -€274,950 | -34.0% |
| Trade debts | 44 | €25,674 | €28,766 | +€3,092 | +12.0% |
| Suppliers | 440/4 | €25,674 | €28,766 | +€3,092 | +12.0% |
| Advances received on contracts in progress | 46 | €69,648 | €16,317 | -€53,331 | -76.6% |
| Taxes, remuneration and social security | 45 | €59,776 | €57,759 | -€2,017 | -3.4% |
| Taxes | 450/3 | €59,776 | €57,759 | -€2,017 | -3.4% |
| Other amounts payable | 47/48 | €652,866 | €430,172 | -€222,694 | -34.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,727 | €2,727 | = | 0.0% |
| Other operating charges | 640/8 | €1,226 | €1,341 | +€116 | +9.4% |
| Gross operating margin | 9900 | -€81,265 | -€139,831 | -€58,567 | -72.1% |
| Operating profit (loss) | 9901 | -€85,217 | -€143,899 | -€58,682 | -68.9% |
| Financial income | 75/76B | €298 | - | -€298 | |
| Recurring financial income | 75 | €298 | - | -€298 | |
| Financial charges | 65/66B | €21,197 | €11,343 | -€9,855 | -46.5% |
| Recurring financial charges | 65 | €21,197 | €11,343 | -€9,855 | -46.5% |
| Profit (loss) for the period before taxes | 9903 | -€106,116 | -€155,242 | -€49,126 | -46.3% |
| Profit (loss) for the period | 9904 | -€106,116 | -€155,242 | -€49,126 | -46.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€106,116 | -€155,242 | -€49,126 | -46.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.