DENDRIA: 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.
DENDRIA
Largest movements
- Stocks and contracts -€712,382
down €712,382 (-100.0%), from €712,382 to €0
- Receivables within one year -€276,556
down €276,556 (-78.3%), from €353,419 to €76,864
of which Trade receivables: -€278,025
- Tangible fixed assets -€124,347
down €124,347 (-9.1%), from €1.4m to €1.2m
- Cash -€28,708
down €28,708 (-48.9%), from €58,656 to €29,948
mainly Short-term financial debts (-€320,000) and Trade debts (-€293,196)
- Short-term financial debts -€320,000
down €320,000 (-100.0%), from €320,000 to €0
- Trade debts -€293,196
down €293,196 (-92.1%), from €318,229 to €25,033
- Debts after one year -€261,741
down €261,741 (-20.8%), from €1.3m to €993,976
- Reserves -€149,597
down €149,597 (-56.7%), from €263,967 to €114,370
of which Distributable reserves: -€130,839
- Contributions -€83,164
down €83,164 (-67.1%), from €124,000 to €40,836
- Gross operating margin -€316,469
down €316,469 (-67.2%), from €470,775 to €154,306
- Staff costs -€295,290
down €295,290 (-100.0%), from €295,290 to €0
- Financial charges -€29,010
down €29,010 (-43.7%), from €66,351 to €37,341
- Depreciation -€28,161
down €28,161 (-36.4%), from €77,340 to €49,179
- Financial income -€7,127
down €7,127 (-100.0%), from €7,127 to €0
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 | €2,501,411 | €1,346,702 | -€1.2m | -46.2% |
| Fixed assets | 21/28 | €1,364,238 | €1,239,891 | -€124,347 | -9.1% |
| Tangible fixed assets | 22/27 | €1,364,238 | €1,239,891 | -€124,347 | -9.1% |
| Land and buildings | 22 | €1,289,069 | €1,239,891 | -€49,179 | -3.8% |
| Plant, machinery and equipment | 23 | €44,503 | €0 | -€44,503 | -100.0% |
| Furniture and vehicles | 24 | €6,501 | €0 | -€6,501 | -100.0% |
| Leasing and similar rights | 25 | €24,165 | €0 | -€24,165 | -100.0% |
| Current assets | 29/58 | €1,137,173 | €106,812 | -€1.0m | -90.6% |
| Stocks and contracts in progress | 3 | €712,382 | €0 | -€712,382 | -100.0% |
| Stocks | 30/36 | €712,382 | €0 | -€712,382 | -100.0% |
| Amounts receivable within one year | 40/41 | €353,419 | €76,864 | -€276,556 | -78.3% |
| Trade receivables | 40 | €352,853 | €74,829 | -€278,025 | -78.8% |
| Other amounts receivable | 41 | €566 | €2,035 | +€1,469 | +259.4% |
| Cash at bank and in hand | 54/58 | €58,656 | €29,948 | -€28,708 | -48.9% |
| Deferred charges and accrued income | 490/1 | €12,716 | €0 | -€12,716 | -100.0% |
| Total equity and liabilities | 10/49 | €2,501,411 | €1,346,702 | -€1.2m | -46.2% |
| Equity | 10/15 | €387,967 | €155,206 | -€232,762 | -60.0% |
| Contributions | 10/11 | €124,000 | €40,836 | -€83,164 | -67.1% |
| Reserves | 13 | €263,967 | €114,370 | -€149,597 | -56.7% |
| Non-distributable reserves | 130/1 | €12,400 | €4,084 | -€8,316 | -67.1% |
| Reserves not available under the articles | 1311 | €12,400 | €4,084 | -€8,316 | -67.1% |
| Tax-exempt reserves | 132 | €15,569 | €5,127 | -€10,442 | -67.1% |
| Distributable reserves | 133 | €235,999 | €105,159 | -€130,839 | -55.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €2,113,444 | €1,191,497 | -€921,947 | -43.6% |
| Amounts payable after more than one year | 17 | €1,255,717 | €993,976 | -€261,741 | -20.8% |
| Financial debts | 170/4 | €1,255,717 | €993,976 | -€261,741 | -20.8% |
| Amounts payable within one year | 42/48 | €857,727 | €193,521 | -€664,206 | -77.4% |
| Current portion of amounts payable after more than one year | 42 | €124,246 | €104,405 | -€19,841 | -16.0% |
| Financial debts | 43 | €320,000 | €0 | -€320,000 | -100.0% |
| Other loans | 439 | €320,000 | €0 | -€320,000 | -100.0% |
| Trade debts | 44 | €318,229 | €25,033 | -€293,196 | -92.1% |
| Suppliers | 440/4 | €318,229 | €25,033 | -€293,196 | -92.1% |
| Taxes, remuneration and social security | 45 | €48,061 | €9,989 | -€38,072 | -79.2% |
| Taxes | 450/3 | €27,853 | €9,989 | -€17,864 | -64.1% |
| Remuneration and social security | 454/9 | €20,208 | €0 | -€20,208 | -100.0% |
| Other amounts payable | 47/48 | €47,191 | €54,093 | +€6,902 | +14.6% |
| Accrued charges and deferred income | 492/3 | €0 | €4,000 | +€4,000 | |
| Remuneration, social security and pensions | 62 | €295,290 | €0 | -€295,290 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €77,340 | €49,179 | -€28,161 | -36.4% |
| Other operating charges | 640/8 | €18,658 | €16,163 | -€2,495 | -13.4% |
| Non-recurring operating charges | 66A | - | €14,193 | +€14,193 | |
| Gross operating margin | 9900 | €470,775 | €154,306 | -€316,469 | -67.2% |
| Operating profit (loss) | 9901 | €79,487 | €74,771 | -€4,716 | -5.9% |
| Financial income | 75/76B | €7,127 | €0 | -€7,127 | -100.0% |
| Recurring financial income | 75 | €7,127 | €0 | -€7,127 | -100.0% |
| Financial charges | 65/66B | €66,351 | €37,341 | -€29,010 | -43.7% |
| Recurring financial charges | 65 | €66,351 | €37,341 | -€29,010 | -43.7% |
| Profit (loss) for the period before taxes | 9903 | €20,262 | €37,430 | +€17,167 | +84.7% |
| Income taxes | 67/77 | €9,411 | €9,989 | +€578 | +6.1% |
| Profit (loss) for the period | 9904 | €10,851 | €27,441 | +€16,589 | +152.9% |
| Profit (loss) for the period to be appropriated | 9905 | €10,851 | €27,441 | +€16,589 | +152.9% |
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 11 October 2026 via checked.be.