DENDRE IMMO VALEMBERG: 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.
DENDRE IMMO VALEMBERG
Largest movements
- Cash -€43,112
down €43,112 (-74.9%), from €57,553 to €14,441
mainly Net result for the year (-€57,670) and Debts after one year (-€15,894)
- Tangible fixed assets -€10,397
down €10,397 (-51.0%), from €20,388 to €9,990
of which Furniture and vehicles: -€7,807
- Intangible fixed assets -€8,000
down €8,000 (-14.7%), from €54,389 to €46,389
- Receivables within one year -€7,431
down €7,431 (-39.5%), from €18,805 to €11,375
of which Trade receivables: -€9,299
- Profit (loss) carried forward -€57,670
down €57,670 (-149%), from -€38,641 to -€96,311
- Debts after one year -€15,894
down €15,894 (-37.7%), from €42,103 to €26,209
- Other debts +€7,126
up €7,126 (+6.6%), from €107,310 to €114,436
- Trade debts -€3,478
down €3,478 (-52.2%), from €6,661 to €3,183
- Short-term financial debts +€2,146
new in 2025: €2,146
- Gross operating margin -€140,588
down €140,588, from €105,746 to -€34,842
- Staff costs -€74,490
down €74,490 (-96.9%), from €76,863 to €2,373
- Depreciation -€5,795
down €5,795 (-24.0%), from €24,192 to €18,397
- Financial charges -€3,795
down €3,795 (-75.0%), from €5,058 to €1,262
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 | €154,195 | €85,601 | -€68,595 | -44.5% |
| Fixed assets | 21/28 | €74,777 | €56,379 | -€18,397 | -24.6% |
| Intangible fixed assets | 21 | €54,389 | €46,389 | -€8,000 | -14.7% |
| Tangible fixed assets | 22/27 | €20,388 | €9,990 | -€10,397 | -51.0% |
| Plant, machinery and equipment | 23 | €12,142 | €9,552 | -€2,590 | -21.3% |
| Furniture and vehicles | 24 | €8,245 | €438 | -€7,807 | -94.7% |
| Current assets | 29/58 | €79,419 | €29,221 | -€50,197 | -63.2% |
| Amounts receivable within one year | 40/41 | €18,805 | €11,375 | -€7,431 | -39.5% |
| Trade receivables | 40 | €14,637 | €5,337 | -€9,299 | -63.5% |
| Other amounts receivable | 41 | €4,169 | €6,037 | +€1,869 | +44.8% |
| Cash at bank and in hand | 54/58 | €57,553 | €14,441 | -€43,112 | -74.9% |
| Deferred charges and accrued income | 490/1 | €3,061 | €3,406 | +€345 | +11.3% |
| Total equity and liabilities | 10/49 | €154,195 | €85,601 | -€68,595 | -44.5% |
| Equity | 10/15 | -€18,641 | -€76,311 | -€57,670 | -309% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,641 | -€96,311 | -€57,670 | -149% |
| Amounts payable | 17/49 | €172,836 | €161,912 | -€10,925 | -6.3% |
| Amounts payable after more than one year | 17 | €42,103 | €26,209 | -€15,894 | -37.7% |
| Financial debts | 170/4 | €42,103 | €26,209 | -€15,894 | -37.7% |
| Amounts payable within one year | 42/48 | €130,734 | €135,659 | +€4,925 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €15,894 | €15,894 | = | 0.0% |
| Financial debts | 43 | - | €2,146 | +€2,146 | |
| Credit institutions | 430/8 | - | €2,146 | +€2,146 | |
| Trade debts | 44 | €6,661 | €3,183 | -€3,478 | -52.2% |
| Suppliers | 440/4 | €6,661 | €3,183 | -€3,478 | -52.2% |
| Taxes, remuneration and social security | 45 | €869 | €0 | -€869 | -100% |
| Taxes | 450/3 | €0 | - | = | |
| Remuneration and social security | 454/9 | €869 | €0 | -€869 | -100% |
| Other amounts payable | 47/48 | €107,310 | €114,436 | +€7,126 | +6.6% |
| Accrued charges and deferred income | 492/3 | - | €44 | +€44 | |
| Remuneration, social security and pensions | 62 | €76,863 | €2,373 | -€74,490 | -96.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,192 | €18,397 | -€5,795 | -24.0% |
| Other operating charges | 640/8 | €1,912 | €1,108 | -€804 | -42.1% |
| Gross operating margin | 9900 | €105,746 | -€34,842 | -€140,588 | |
| Operating profit (loss) | 9901 | €2,779 | -€56,721 | -€59,499 | |
| Financial income | 75/76B | €182 | €313 | +€131 | +72.3% |
| Recurring financial income | 75 | €182 | €313 | +€131 | +72.3% |
| Financial charges | 65/66B | €5,058 | €1,262 | -€3,795 | -75.0% |
| Recurring financial charges | 65 | €5,058 | €1,262 | -€3,795 | -75.0% |
| Profit (loss) for the period before taxes | 9903 | -€2,097 | -€57,670 | -€55,572 | -2,650% |
| Profit (loss) for the period | 9904 | -€2,097 | -€57,670 | -€55,572 | -2,650% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,097 | -€57,670 | -€55,572 | -2,650% |
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 19 October 2026 via checked.be.