DENDIEVEL: 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.
DENDIEVEL
Largest movements
- Cash -€226,118
down €226,118 (-50.2%), from €450,860 to €224,742
mainly Investment in fixed assets (net) (-€281,926) and Contributions, distributions and other (-€57,895)
- Tangible fixed assets +€209,822
up €209,822 (+24.9%), from €844,142 to €1.1m
of which Land and buildings: +€213,080
- Receivables within one year -€106,373
down €106,373 (-14.8%), from €718,584 to €612,211
- Reserves -€57,895
down €57,895 (-2.5%), from €2.4m to €2.3m
- Profit (loss) carried forward -€37,972
down €37,972 (-76.3%), from €49,790 to €11,818
- Gross operating margin -€271,115
down €271,115 (-85.5%), from €317,075 to €45,960
- Taxes -€87,339
down €87,339 (-94.8%), from €92,133 to €4,794
- Other operating charges +€53,518
up €53,518 (+1,410%), from €3,795 to €57,312
- Financial income -€7,520
down €7,520 (-12.9%), from €58,104 to €50,584
- Depreciation +€4,749
up €4,749 (+7.1%), from €67,355 to €72,104
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.
Derived cash bridge
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 | €2,516,373 | €2,403,196 | -€113,177 | -4.5% |
| Fixed assets | 21/28 | €844,142 | €1,053,964 | +€209,822 | +24.9% |
| Tangible fixed assets | 22/27 | €844,142 | €1,053,964 | +€209,822 | +24.9% |
| Land and buildings | 22 | €717,028 | €930,108 | +€213,080 | +29.7% |
| Plant, machinery and equipment | 23 | €9,146 | €8,757 | -€389 | -4.2% |
| Furniture and vehicles | 24 | €95,409 | €93,824 | -€1,585 | -1.7% |
| Other tangible fixed assets | 26 | €22,559 | €21,274 | -€1,285 | -5.7% |
| Current assets | 29/58 | €1,672,231 | €1,349,232 | -€323,000 | -19.3% |
| Amounts receivable within one year | 40/41 | €718,584 | €612,211 | -€106,373 | -14.8% |
| Other amounts receivable | 41 | €718,584 | €612,211 | -€106,373 | -14.8% |
| Current investments | 50/53 | €450,000 | €464,997 | +€14,997 | +3.3% |
| Cash at bank and in hand | 54/58 | €450,860 | €224,742 | -€226,118 | -50.2% |
| Deferred charges and accrued income | 490/1 | €52,787 | €47,282 | -€5,505 | -10.4% |
| Total equity and liabilities | 10/49 | €2,516,373 | €2,403,196 | -€113,177 | -4.5% |
| Equity | 10/15 | €2,428,847 | €2,332,980 | -€95,867 | -3.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,359,057 | €2,301,162 | -€57,895 | -2.5% |
| Distributable reserves | 133 | €2,359,057 | €2,301,162 | -€57,895 | -2.5% |
| Profit (loss) carried forward | 14 | €49,790 | €11,818 | -€37,972 | -76.3% |
| Amounts payable | 17/49 | €87,526 | €70,216 | -€17,311 | -19.8% |
| Amounts payable within one year | 42/48 | €81,026 | €66,916 | -€14,111 | -17.4% |
| Trade debts | 44 | €132 | €5,334 | +€5,203 | +3,954% |
| Suppliers | 440/4 | €132 | €5,334 | +€5,203 | +3,954% |
| Taxes, remuneration and social security | 45 | €12,474 | €3,300 | -€9,174 | -73.5% |
| Taxes | 450/3 | €3,572 | €800 | -€2,772 | -77.6% |
| Remuneration and social security | 454/9 | €8,901 | €2,500 | -€6,401 | -71.9% |
| Other amounts payable | 47/48 | €68,421 | €58,281 | -€10,140 | -14.8% |
| Accrued charges and deferred income | 492/3 | €6,500 | €3,300 | -€3,200 | -49.2% |
| Non-recurring operating income | 76A | €12,397 | €12,205 | -€192 | -1.5% |
| Remuneration, social security and pensions | 62 | €2,436 | - | -€2,436 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,355 | €72,104 | +€4,749 | +7.1% |
| Other operating charges | 640/8 | €3,795 | €57,312 | +€53,518 | +1,410% |
| Gross operating margin | 9900 | €317,075 | €45,960 | -€271,115 | -85.5% |
| Operating profit (loss) | 9901 | €243,490 | -€83,457 | -€326,946 | |
| Financial income | 75/76B | €58,104 | €50,584 | -€7,520 | -12.9% |
| Recurring financial income | 75 | €58,104 | €50,584 | -€7,520 | -12.9% |
| Financial charges | 65/66B | €1,591 | €305 | -€1,286 | -80.8% |
| Recurring financial charges | 65 | €1,591 | €305 | -€1,286 | -80.8% |
| Profit (loss) for the period before taxes | 9903 | €300,002 | -€33,178 | -€333,181 | |
| Income taxes | 67/77 | €92,133 | €4,794 | -€87,339 | -94.8% |
| Profit (loss) for the period | 9904 | €207,869 | -€37,972 | -€245,842 | |
| Profit (loss) for the period to be appropriated | 9905 | €207,869 | -€37,972 | -€245,842 |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.