DENDOLIV: 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.
DENDOLIV
Largest movements
- Financial fixed assets +€750,988
new in 2026: €750,988
- Cash -€78,471
down €78,471 (-74.9%), from €104,753 to €26,282
mainly Investment in fixed assets (net) (-€750,988) and Other debts (-€83,423)
- Receivables within one year -€35,492
down €35,492 (-37.1%), from €95,727 to €60,236
of which Other amounts receivable: -€22,612
- Tangible fixed assets -€12,344
down €12,344 (-40.0%), from €30,834 to €18,491
of which Furniture and vehicles: -€11,622
- Debts after one year +€667,439
up €667,439 (+16,285%), from €4,098 to €671,538
- Other debts -€83,423
down €83,423 (-66.7%), from €125,000 to €41,577
- Current portion of long-term debt +€71,456
up €71,456 (+591%), from €12,093 to €83,549
- Reserves -€45,715
down €45,715 (-54.8%), from €83,482 to €37,766
- Accrued charges and deferred income +€11,555
new in 2026: €11,555
- Gross operating margin +€29,315
up €29,315 (+66.9%), from €43,817 to €73,133
- Financial charges +€13,343
up €13,343 (+1,754%), from €761 to €14,104
- Taxes +€6,294
up €6,294 (+93.5%), from €6,735 to €13,029
- Financial income +€2,354
up €2,354 (+92.1%), from €2,556 to €4,910
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €232,192 | €856,961 | +€624,769 | +269% |
| Formation expenses | 20 | €169 | - | -€169 | |
| Fixed assets | 21/28 | €30,834 | €769,479 | +€738,645 | +2,396% |
| Tangible fixed assets | 22/27 | €30,834 | €18,491 | -€12,344 | -40.0% |
| Plant, machinery and equipment | 23 | €1,794 | €1,072 | -€722 | -40.2% |
| Furniture and vehicles | 24 | €29,040 | €17,418 | -€11,622 | -40.0% |
| Financial fixed assets | 28 | - | €750,988 | +€750,988 | |
| Current assets | 29/58 | €201,189 | €87,482 | -€113,707 | -56.5% |
| Amounts receivable within one year | 40/41 | €95,727 | €60,236 | -€35,492 | -37.1% |
| Trade receivables | 40 | €16,505 | €3,625 | -€12,880 | -78.0% |
| Other amounts receivable | 41 | €79,222 | €56,611 | -€22,612 | -28.5% |
| Cash at bank and in hand | 54/58 | €104,753 | €26,282 | -€78,471 | -74.9% |
| Deferred charges and accrued income | 490/1 | €709 | €965 | +€256 | +36.2% |
| Total equity and liabilities | 10/49 | €232,192 | €856,961 | +€624,769 | +269% |
| Equity | 10/15 | €87,482 | €41,766 | -€45,715 | -52.3% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €83,482 | €37,766 | -€45,715 | -54.8% |
| Distributable reserves | 133 | €83,482 | €37,766 | -€45,715 | -54.8% |
| Amounts payable | 17/49 | €144,710 | €815,195 | +€670,485 | +463% |
| Amounts payable after more than one year | 17 | €4,098 | €671,538 | +€667,439 | +16,285% |
| Financial debts | 170/4 | €4,098 | €671,538 | +€667,439 | +16,285% |
| Amounts payable within one year | 42/48 | €140,612 | €132,102 | -€8,509 | -6.1% |
| Current portion of amounts payable after more than one year | 42 | €12,093 | €83,549 | +€71,456 | +591% |
| Trade debts | 44 | €2,166 | €534 | -€1,633 | -75.4% |
| Suppliers | 440/4 | €2,166 | €534 | -€1,633 | -75.4% |
| Taxes, remuneration and social security | 45 | €1,353 | €6,443 | +€5,090 | +376% |
| Taxes | 450/3 | €353 | €5,443 | +€5,090 | +1,443% |
| Remuneration and social security | 454/9 | €1,000 | €1,000 | = | 0.0% |
| Other amounts payable | 47/48 | €125,000 | €41,577 | -€83,423 | -66.7% |
| Accrued charges and deferred income | 492/3 | - | €11,555 | +€11,555 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,523 | €12,512 | -€10 | -0.1% |
| Other operating charges | 640/8 | €830 | €1,112 | +€282 | +34.0% |
| Gross operating margin | 9900 | €43,817 | €73,133 | +€29,315 | +66.9% |
| Operating profit (loss) | 9901 | €30,465 | €59,508 | +€29,043 | +95.3% |
| Financial income | 75/76B | €2,556 | €4,910 | +€2,354 | +92.1% |
| Recurring financial income | 75 | €2,556 | €4,910 | +€2,354 | +92.1% |
| Financial charges | 65/66B | €761 | €14,104 | +€13,343 | +1,754% |
| Recurring financial charges | 65 | €761 | €14,104 | +€13,343 | +1,754% |
| Profit (loss) for the period before taxes | 9903 | €32,260 | €50,314 | +€18,054 | +56.0% |
| Income taxes | 67/77 | €6,735 | €13,029 | +€6,294 | +93.5% |
| Profit (loss) for the period | 9904 | €25,525 | €37,285 | +€11,760 | +46.1% |
| Profit (loss) for the period to be appropriated | 9905 | €25,525 | €37,285 | +€11,760 | +46.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.