DENDERMETAAL: what changed
Two financial 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.
DENDERMETAAL
Largest movements
- Cash +€2.1m
up €2.1m (+193.5%), from €1.1m to €3.2m
mainly Receivables within one year (+€1.4m) and Net result for the year (+€509,497)
- Receivables within one year -€1.4m
down €1.4m (-69.0%), from €2.0m to €620,209
of which Trade receivables: -€1.3m
- Stocks and contracts -€179,920
down €179,920 (-23.5%), from €764,781 to €584,862
- Current investments -€169,300
no longer reported in 2025 (was €169,300)
- Reserves +€509,497
up €509,497 (+14.8%), from €3.4m to €3.9m
of which Distributable reserves: +€509,497
- Trade debts -€340,074
down €340,074 (-57.3%), from €593,487 to €253,413
- Tax, wage and social debts +€200,837
up €200,837 (+142.9%), from €140,539 to €341,376
of which Taxes: +€139,810
- Gross operating margin +€1.1m
up €1.1m (+93.1%), from €1.1m to €2.2m
- Taxes +€219,893
up €219,893 (+684.7%), from €32,117 to €252,010
- Staff costs +€169,181
up €169,181 (+17.4%), from €974,270 to €1.1m
- Financial charges +€169,005
up €169,005 (+829.9%), from €20,365 to €189,370
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 | €4,442,073 | €4,820,762 | +€378,689 | +8.5% |
| Fixed assets | 21/28 | €379,991 | €371,010 | -€8,980 | -2.4% |
| Tangible fixed assets | 22/27 | €379,991 | €371,010 | -€8,980 | -2.4% |
| Land and buildings | 22 | €184,298 | €158,784 | -€25,514 | -13.8% |
| Plant, machinery and equipment | 23 | €72,215 | €66,459 | -€5,757 | -8.0% |
| Furniture and vehicles | 24 | €123,477 | €145,768 | +€22,291 | +18.1% |
| Current assets | 29/58 | €4,062,082 | €4,449,752 | +€387,670 | +9.5% |
| Stocks and contracts in progress | 3 | €764,781 | €584,862 | -€179,920 | -23.5% |
| Contracts in progress | 37 | €764,781 | €584,862 | -€179,920 | -23.5% |
| Amounts receivable within one year | 40/41 | €2,001,782 | €620,209 | -€1.4m | -69.0% |
| Trade receivables | 40 | €1,693,690 | €388,054 | -€1.3m | -77.1% |
| Other amounts receivable | 41 | €308,092 | €232,155 | -€75,937 | -24.6% |
| Current investments | 50/53 | €169,300 | - | -€169,300 | |
| Cash at bank and in hand | 54/58 | €1,099,188 | €3,226,322 | +€2.1m | +193.5% |
| Deferred charges and accrued income | 490/1 | €27,031 | €18,359 | -€8,672 | -32.1% |
| Total equity and liabilities | 10/49 | €4,442,073 | €4,820,762 | +€378,689 | +8.5% |
| Equity | 10/15 | €3,563,571 | €4,073,068 | +€509,497 | +14.3% |
| Contributions | 10/11 | €125,000 | €125,000 | = | 0.0% |
| Capital | 10 | €125,000 | €125,000 | = | 0.0% |
| Issued capital | 100 | €125,000 | €125,000 | = | 0.0% |
| Reserves | 13 | €3,438,571 | €3,948,068 | +€509,497 | +14.8% |
| Non-distributable reserves | 130/1 | €180,350 | €180,350 | = | 0.0% |
| Legal reserve | 130 | €180,350 | €180,350 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,834 | €4,834 | = | 0.0% |
| Distributable reserves | 133 | €3,253,387 | €3,762,884 | +€509,497 | +15.7% |
| Amounts payable | 17/49 | €878,502 | €747,694 | -€130,808 | -14.9% |
| Amounts payable after more than one year | 17 | €110,000 | €110,000 | = | 0.0% |
| Other amounts payable | 178/9 | €110,000 | €110,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €763,793 | €635,075 | -€128,717 | -16.9% |
| Trade debts | 44 | €593,487 | €253,413 | -€340,074 | -57.3% |
| Suppliers | 440/4 | €593,487 | €253,413 | -€340,074 | -57.3% |
| Taxes, remuneration and social security | 45 | €140,539 | €341,376 | +€200,837 | +142.9% |
| Taxes | 450/3 | €43,687 | €183,497 | +€139,810 | +320.0% |
| Remuneration and social security | 454/9 | €96,852 | €157,879 | +€61,027 | +63.0% |
| Other amounts payable | 47/48 | €29,767 | €40,286 | +€10,519 | +35.3% |
| Accrued charges and deferred income | 492/3 | €4,709 | €2,619 | -€2,091 | -44.4% |
| Non-recurring operating income | 76A | - | €7,372 | +€7,372 | |
| Remuneration, social security and pensions | 62 | €974,270 | €1,143,451 | +€169,181 | +17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,864 | €74,126 | +€16,262 | +28.1% |
| Other operating charges | 640/8 | €10,586 | €16,816 | +€6,230 | +58.9% |
| Non-recurring operating charges | 66A | - | €381 | +€381 | |
| Gross operating margin | 9900 | €1,129,174 | €2,180,124 | +€1.1m | +93.1% |
| Operating profit (loss) | 9901 | €86,455 | €945,351 | +€858,897 | +993.5% |
| Financial income | 75/76B | €3,224 | €5,526 | +€2,302 | +71.4% |
| Recurring financial income | 75 | €3,224 | €5,526 | +€2,302 | +71.4% |
| Financial charges | 65/66B | €20,365 | €189,370 | +€169,005 | +829.9% |
| Recurring financial charges | 65 | €20,365 | €189,370 | +€169,005 | +829.9% |
| Profit (loss) for the period before taxes | 9903 | €69,313 | €761,507 | +€692,194 | +998.6% |
| Income taxes | 67/77 | €32,117 | €252,010 | +€219,893 | +684.7% |
| Profit (loss) for the period | 9904 | €37,196 | €509,497 | +€472,301 | +1269.7% |
| Profit (loss) for the period to be appropriated | 9905 | €37,196 | €509,497 | +€472,301 | +1269.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.