DenderFin: 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.
What changed
DenderFin
NACE 66.191, Agents and brokers in banking services
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€7,610
2024 · €1,805+€5,805
Equity
€19,415
2024 · €11,805+€7,610
Cash
€138,674
2024 · €162,011-€23,337
Balance sheet total
€3.5m
2024 · €3.6m-€95,969
Largest movements
Assets
- Intangible fixed assets -€323,074
down €323,074 (-11.3%), from €2.9m to €2.5m
- Current investments +€300,000
up €300,000 (+120.0%), from €250,000 to €550,000
Equity and liabilities
- Trade debts -€251,915
down €251,915 (-48.7%), from €517,131 to €265,216
- Debts after one year +€167,539
up €167,539 (+6.2%), from €2.7m to €2.9m
Income statement
- Staff costs -€124,048
down €124,048 (-13.3%), from €936,082 to €812,034
- Financial charges +€116,278
up €116,278 (+310.2%), from €37,488 to €153,766
- Depreciation -€45,017
down €45,017 (-11.8%), from €382,448 to €337,431
- Gross operating margin -€44,438
down €44,438 (-3.2%), from €1.4m to €1.3m
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.
Result 2024
€1,805
Gross operating margin
-€44,438
Staff costs
+€124,048
Depreciation
+€45,017
Other operating charges
-€6,323
Other operating items
+€308
Financial income
+€1,731
Financial charges
-€116,278
Taxes
+€1,740
Result 2025
€7,610
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.
From operations
+€120,530
Investment
-€300,000
Financing
+€156,133
Cash 2024
€162,011
From operations (derived)
+€120,530
Net result for the year
+€7,610
Depreciation
+€337,431
Receivables within one year
+€26,873
Deferred charges and accrued income
+€8,329
Trade debts
-€251,915
Tax, wage and social debts
+€2,308
Other debts
+€1,224
Accrued charges and deferred income
-€11,328
Investment (derived)
-€300,000
Current investments
-€300,000
Financing
+€156,133
Debts after one year
+€167,539
Current portion of long-term debt
+€8,063
Short-term financial debts
-€19,469
Cash 2025
€138,674
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,563,068 | €3,467,099 | -€95,969 | -2.7% |
| Fixed assets | 21/28 | €2,901,083 | €2,563,652 | -€337,431 | -11.6% |
| Intangible fixed assets | 21 | €2,862,597 | €2,539,523 | -€323,074 | -11.3% |
| Tangible fixed assets | 22/27 | €34,276 | €19,919 | -€14,357 | -41.9% |
| Furniture and vehicles | 24 | €31,333 | €17,657 | -€13,676 | -43.6% |
| Other tangible fixed assets | 26 | €2,943 | €2,262 | -€681 | -23.1% |
| Financial fixed assets | 28 | €4,210 | €4,210 | = | 0.0% |
| Current assets | 29/58 | €661,986 | €903,447 | +€241,462 | +36.5% |
| Amounts receivable within one year | 40/41 | €27,900 | €1,027 | -€26,873 | -96.3% |
| Trade receivables | 40 | €27,900 | €1,027 | -€26,873 | -96.3% |
| Current investments | 50/53 | €250,000 | €550,000 | +€300,000 | +120.0% |
| Cash at bank and in hand | 54/58 | €162,011 | €138,674 | -€23,337 | -14.4% |
| Deferred charges and accrued income | 490/1 | €222,074 | €213,746 | -€8,329 | -3.8% |
| Total equity and liabilities | 10/49 | €3,563,068 | €3,467,099 | -€95,969 | -2.7% |
| Equity | 10/15 | €11,805 | €19,415 | +€7,610 | +64.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €1,805 | €9,415 | +€7,610 | +421.7% |
| Distributable reserves | 133 | €1,805 | €9,415 | +€7,610 | +421.7% |
| Amounts payable | 17/49 | €3,551,264 | €3,447,685 | -€103,579 | -2.9% |
| Amounts payable after more than one year | 17 | €2,684,802 | €2,852,340 | +€167,539 | +6.2% |
| Financial debts | 170/4 | €2,684,802 | €2,852,340 | +€167,539 | +6.2% |
| Amounts payable within one year | 42/48 | €855,133 | €595,344 | -€259,789 | -30.4% |
| Current portion of amounts payable after more than one year | 42 | €217,891 | €225,954 | +€8,063 | +3.7% |
| Financial debts | 43 | €19,469 | €0 | -€19,469 | -100.0% |
| Credit institutions | 430/8 | €19,469 | €0 | -€19,469 | -100.0% |
| Trade debts | 44 | €517,131 | €265,216 | -€251,915 | -48.7% |
| Suppliers | 440/4 | €517,131 | €265,216 | -€251,915 | -48.7% |
| Taxes, remuneration and social security | 45 | €100,642 | €102,950 | +€2,308 | +2.3% |
| Taxes | 450/3 | €15,307 | €17,644 | +€2,337 | +15.3% |
| Remuneration and social security | 454/9 | €85,334 | €85,306 | -€29 | 0.0% |
| Other amounts payable | 47/48 | - | €1,224 | +€1,224 | |
| Accrued charges and deferred income | 492/3 | €11,328 | €0 | -€11,328 | -100.0% |
| Remuneration, social security and pensions | 62 | €936,082 | €812,034 | -€124,048 | -13.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €382,448 | €337,431 | -€45,017 | -11.8% |
| Other operating charges | 640/8 | €7,344 | €13,668 | +€6,323 | +86.1% |
| Non-recurring operating charges | 66A | €308 | €0 | -€308 | -100.0% |
| Gross operating margin | 9900 | €1,380,547 | €1,336,109 | -€44,438 | -3.2% |
| Operating profit (loss) | 9901 | €54,365 | €172,977 | +€118,612 | +218.2% |
| Financial income | 75/76B | €332 | €2,063 | +€1,731 | +521.6% |
| Recurring financial income | 75 | €332 | €2,063 | +€1,731 | +521.6% |
| Financial charges | 65/66B | €37,488 | €153,766 | +€116,278 | +310.2% |
| Recurring financial charges | 65 | €37,488 | €153,766 | +€116,278 | +310.2% |
| Profit (loss) for the period before taxes | 9903 | €17,209 | €21,274 | +€4,065 | +23.6% |
| Income taxes | 67/77 | €15,404 | €13,664 | -€1,740 | -11.3% |
| Profit (loss) for the period | 9904 | €1,805 | €7,610 | +€5,805 | +321.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,805 | €7,610 | +€5,805 | +321.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.