DENDROGENIX: what changed
Two fiscal 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.
DENDROGENIX
Largest movements
- Current investments -€4.0m
down €4.0m (-100.0%), from €4.0m to €0
- Cash +€1.8m
up €1.8m (+127.1%), from €1.4m to €3.3m
mainly Current investments (+€4.0m) and Depreciation (+€2.1m)
- Receivables within one year -€158,766
down €158,766 (-22.7%), from €697,944 to €539,178
of which Other amounts receivable: -€153,960
- Deferred charges and accrued income -€76,801
down €76,801 (-82.2%), from €93,435 to €16,635
- Profit (loss) carried forward -€2.3m
down €2.3m, from €52,921 to -€2.2m
- Debts after one year -€144,475
down €144,475 (-8.6%), from €1.7m to €1.5m
- Trade debts +€132,804
up €132,804 (+58.1%), from €228,600 to €361,404
- Tax, wage and social debts -€87,618
down €87,618 (-47.4%), from €185,032 to €97,414
of which Remuneration and social security: -€63,970
- Depreciation +€268,983
up €268,983 (+14.9%), from €1.8m to €2.1m
- Staff costs -€110,916
down €110,916 (-10.6%), from €1.0m to €935,766
- Gross operating margin +€60,997
up €60,997 (+8.9%), from -€687,488 to -€626,490
- Taxes -€11,209
down €11,209 (-11.8%), from -€94,935 to -€106,144
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 | €7,676,506 | €5,277,538 | -€2.4m | -31.3% |
| Fixed assets | 21/28 | €1,095,361 | €1,029,094 | -€66,267 | -6.0% |
| Intangible fixed assets | 21 | €972,716 | €946,271 | -€26,445 | -2.7% |
| Tangible fixed assets | 22/27 | €122,110 | €82,288 | -€39,822 | -32.6% |
| Plant, machinery and equipment | 23 | €116,849 | €79,957 | -€36,891 | -31.6% |
| Furniture and vehicles | 24 | €5,261 | €2,330 | -€2,931 | -55.7% |
| Financial fixed assets | 28 | €535 | €535 | = | 0.0% |
| Current assets | 29/58 | €6,581,145 | €4,248,444 | -€2.3m | -35.4% |
| Amounts receivable after more than one year | 29 | €341,573 | €403,634 | +€62,061 | +18.2% |
| Other amounts receivable | 291 | €341,573 | €403,634 | +€62,061 | +18.2% |
| Amounts receivable within one year | 40/41 | €697,944 | €539,178 | -€158,766 | -22.7% |
| Trade receivables | 40 | €31,819 | €27,012 | -€4,807 | -15.1% |
| Other amounts receivable | 41 | €666,125 | €512,165 | -€153,960 | -23.1% |
| Current investments | 50/53 | €4,000,000 | €0 | -€4.0m | -100.0% |
| Cash at bank and in hand | 54/58 | €1,448,192 | €3,288,997 | +€1.8m | +127.1% |
| Deferred charges and accrued income | 490/1 | €93,435 | €16,635 | -€76,801 | -82.2% |
| Total equity and liabilities | 10/49 | €7,676,506 | €5,277,538 | -€2.4m | -31.3% |
| Equity | 10/15 | €5,590,720 | €3,291,041 | -€2.3m | -41.1% |
| Contributions | 10/11 | €5,392,188 | €5,392,188 | = | 0.0% |
| Capital | 10 | €5,392,188 | €5,392,188 | = | 0.0% |
| Issued capital | 100 | €5,392,188 | €5,392,188 | = | 0.0% |
| Reserves | 13 | €2,785 | €2,785 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,785 | €2,785 | = | 0.0% |
| Legal reserve | 130 | €2,785 | €2,785 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,921 | -€2,240,849 | -€2.3m | |
| Investment grants | 15 | €142,825 | €136,916 | -€5,909 | -4.1% |
| Amounts payable | 17/49 | €2,085,786 | €1,986,496 | -€99,289 | -4.8% |
| Amounts payable after more than one year | 17 | €1,672,154 | €1,527,679 | -€144,475 | -8.6% |
| Other amounts payable | 178/9 | €1,672,154 | €1,527,679 | -€144,475 | -8.6% |
| Amounts payable within one year | 42/48 | €413,632 | €458,818 | +€45,186 | +10.9% |
| Trade debts | 44 | €228,600 | €361,404 | +€132,804 | +58.1% |
| Suppliers | 440/4 | €228,600 | €361,404 | +€132,804 | +58.1% |
| Taxes, remuneration and social security | 45 | €185,032 | €97,414 | -€87,618 | -47.4% |
| Taxes | 450/3 | €23,647 | €0 | -€23,647 | -100.0% |
| Remuneration and social security | 454/9 | €161,384 | €97,414 | -€63,970 | -39.6% |
| Remuneration, social security and pensions | 62 | €1,046,682 | €935,766 | -€110,916 | -10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,809,867 | €2,078,850 | +€268,983 | +14.9% |
| Other operating charges | 640/8 | €18,121 | €22,074 | +€3,953 | +21.8% |
| Non-recurring operating charges | 66A | €5,930 | €0 | -€5,930 | -100.0% |
| Gross operating margin | 9900 | -€687,488 | -€626,490 | +€60,997 | +8.9% |
| Operating profit (loss) | 9901 | -€3,568,088 | -€3,663,181 | -€95,093 | -2.7% |
| Financial income | 75/76B | €1,260,863 | €1,267,573 | +€6,710 | +0.5% |
| Recurring financial income | 75 | €1,260,863 | €1,267,573 | +€6,710 | +0.5% |
| Financial charges | 65/66B | €10,800 | €4,306 | -€6,494 | -60.1% |
| Recurring financial charges | 65 | €10,800 | €4,306 | -€6,494 | -60.1% |
| Profit (loss) for the period before taxes | 9903 | -€2,318,024 | -€2,399,914 | -€81,889 | -3.5% |
| Income taxes | 67/77 | -€94,935 | -€106,144 | -€11,209 | -11.8% |
| Profit (loss) for the period | 9904 | -€2,223,089 | -€2,293,770 | -€70,680 | -3.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,223,089 | -€2,293,770 | -€70,680 | -3.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.