DENDERKAAI: 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.
DENDERKAAI
Largest movements
- Stocks and contracts +€164,917
up €164,917 (+129.7%), from €127,151 to €292,067
of which Stocks: +€162,955
- Cash -€152,776
down €152,776 (-93.0%), from €164,218 to €11,442
mainly Stocks and contracts (-€164,917) and Receivables within one year (-€66,710)
- Receivables within one year +€66,710
up €66,710 (+67.7%), from €98,497 to €165,207
of which Trade receivables: +€71,825
- Deferred charges and accrued income +€28,700
up €28,700 (+2290.3%), from €1,253 to €29,953
- Tangible fixed assets -€10,208
down €10,208 (-29.0%), from €35,237 to €25,029
of which Furniture and vehicles: -€9,223
- Other debts +€59,329
up €59,329 (+818.4%), from €7,249 to €66,578
- Trade debts +€31,688
up €31,688 (+102.1%), from €31,037 to €62,724
- Reserves +€8,798
up €8,798 (+3.3%), from €268,069 to €276,866
of which Distributable reserves: +€8,798
- Gross operating margin +€55,103
up €55,103, from -€32,584 to €22,519
- Depreciation +€3,415
up €3,415 (+49.2%), from €6,947 to €10,362
- Financial charges +€1,470
up €1,470 (+412.8%), from €356 to €1,826
of which Non-recurring financial charges: +€1,008
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 | €426,355 | €523,698 | +€97,343 | +22.8% |
| Fixed assets | 21/28 | €35,237 | €25,029 | -€10,208 | -29.0% |
| Tangible fixed assets | 22/27 | €35,237 | €25,029 | -€10,208 | -29.0% |
| Plant, machinery and equipment | 23 | €1,027 | €953 | -€74 | -7.2% |
| Furniture and vehicles | 24 | €33,299 | €24,076 | -€9,223 | -27.7% |
| Other tangible fixed assets | 26 | €910 | €0 | -€910 | -100.0% |
| Current assets | 29/58 | €391,119 | €498,669 | +€107,550 | +27.5% |
| Stocks and contracts in progress | 3 | €127,151 | €292,067 | +€164,917 | +129.7% |
| Stocks | 30/36 | €122,151 | €285,106 | +€162,955 | +133.4% |
| Contracts in progress | 37 | €5,000 | €6,962 | +€1,962 | +39.2% |
| Amounts receivable within one year | 40/41 | €98,497 | €165,207 | +€66,710 | +67.7% |
| Trade receivables | 40 | €92,735 | €164,560 | +€71,825 | +77.5% |
| Other amounts receivable | 41 | €5,762 | €647 | -€5,115 | -88.8% |
| Cash at bank and in hand | 54/58 | €164,218 | €11,442 | -€152,776 | -93.0% |
| Deferred charges and accrued income | 490/1 | €1,253 | €29,953 | +€28,700 | +2290.3% |
| Total equity and liabilities | 10/49 | €426,355 | €523,698 | +€97,343 | +22.8% |
| Equity | 10/15 | €323,669 | €332,466 | +€8,798 | +2.7% |
| Contributions | 10/11 | €55,600 | €55,600 | = | 0.0% |
| Reserves | 13 | €268,069 | €276,866 | +€8,798 | +3.3% |
| Non-distributable reserves | 130/1 | €5,560 | €5,560 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,560 | €5,560 | = | 0.0% |
| Distributable reserves | 133 | €262,509 | €271,306 | +€8,798 | +3.4% |
| Amounts payable | 17/49 | €102,687 | €191,232 | +€88,545 | +86.2% |
| Amounts payable after more than one year | 17 | €59,369 | €59,369 | = | 0.0% |
| Financial debts | 170/4 | €59,369 | €59,369 | = | 0.0% |
| Amounts payable within one year | 42/48 | €42,930 | €131,863 | +€88,932 | +207.2% |
| Trade debts | 44 | €31,037 | €62,724 | +€31,688 | +102.1% |
| Suppliers | 440/4 | €31,037 | €62,724 | +€31,688 | +102.1% |
| Taxes, remuneration and social security | 45 | €4,645 | €2,561 | -€2,084 | -44.9% |
| Taxes | 450/3 | €2,766 | €2,561 | -€206 | -7.4% |
| Remuneration and social security | 454/9 | €1,879 | €0 | -€1,879 | -100.0% |
| Other amounts payable | 47/48 | €7,249 | €66,578 | +€59,329 | +818.4% |
| Accrued charges and deferred income | 492/3 | €387 | €0 | -€387 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,947 | €10,362 | +€3,415 | +49.2% |
| Other operating charges | 640/8 | €1,300 | €1,301 | +€1 | +0.1% |
| Gross operating margin | 9900 | -€32,584 | €22,519 | +€55,103 | |
| Operating profit (loss) | 9901 | -€40,831 | €10,856 | +€51,687 | |
| Financial income | 75/76B | €28 | €2 | -€26 | -93.6% |
| Recurring financial income | 75 | €28 | €2 | -€26 | -93.6% |
| Financial charges | 65/66B | €356 | €1,826 | +€1,470 | +412.8% |
| Recurring financial charges | 65 | €356 | €819 | +€463 | +129.9% |
| Non-recurring financial charges | 66B | - | €1,008 | +€1,008 | |
| Profit (loss) for the period before taxes | 9903 | -€41,159 | €9,031 | +€50,190 | |
| Income taxes | 67/77 | €257 | €234 | -€24 | -9.2% |
| Profit (loss) for the period | 9904 | -€41,416 | €8,798 | +€50,214 | |
| Profit (loss) for the period to be appropriated | 9905 | -€41,416 | €8,798 | +€50,214 |
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 8 October 2026 via checked.be.