DENECO CONSULTING: 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.
What changed
DENECO CONSULTING
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€212,531
2024 · €406,392-€193,861
Equity
€1.4m
2024 · €1.2m+€212,531
Cash
€17,574
2024 · €44,902-€27,328
Balance sheet total
€3.3m
2024 · €3.2m+€64,968
Largest movements
Assets
- Receivables after one year +€72,000
up €72,000 (+31.3%), from €230,000 to €302,000
Equity and liabilities
- Reserves +€200,000
up €200,000 (+53.2%), from €376,200 to €576,200
of which Distributable reserves: +€200,000
- Debts after one year -€193,043
down €193,043 (-10.8%), from €1.8m to €1.6m
of which Financial debts: -€193,043
- Tax, wage and social debts +€54,011
up €54,011 (+636%), from €8,487 to €62,498
Income statement
- Financial income -€180,638
down €180,638 (-54.6%), from €330,638 to €150,000
- Taxes +€10,232
up €10,232 (+23.4%), from €43,778 to €54,011
- Gross operating margin -€6,457
down €6,457 (-3.1%), from €205,849 to €199,392
- Financial charges -€5,111
down €5,111 (-18.9%), from €27,051 to €21,940
- Other operating charges +€2,185
up €2,185 (+25.3%), from €8,651 to €10,836
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.
Result 2024
€406,392
Gross operating margin
-€6,457
Depreciation
+€541
Other operating charges
-€2,185
Financial income
-€180,638
Financial charges
+€5,111
Taxes
-€10,232
Result 2025
€212,531
raises the resultlowers the result
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.
From operations
+€203,711
Investment
-€42,771
Financing
-€188,268
Cash 2024
€44,902
From operations (derived)
+€203,711
Net result for the year
+€212,531
Depreciation
+€50,074
Receivables after one year
-€72,000
Receivables within one year
-€24,382
Deferred charges and accrued income
-€3,217
Trade debts
+€3,650
Tax, wage and social debts
+€54,011
Other debts
-€16,723
Accrued charges and deferred income
-€234
Investment (derived)
-€42,771
Investment in fixed assets (net)
-€42,771
Financing
-€188,268
Debts after one year
-€193,043
Current portion of long-term debt
+€4,776
Cash 2025
€17,574
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,212,283 | €3,277,250 | +€64,968 | +2.0% |
| Fixed assets | 21/28 | €2,896,312 | €2,889,009 | -€7,303 | -0.3% |
| Tangible fixed assets | 22/27 | €713,774 | €681,471 | -€32,303 | -4.5% |
| Land and buildings | 22 | €705,942 | €676,145 | -€29,797 | -4.2% |
| Plant, machinery and equipment | 23 | €6,478 | €4,431 | -€2,047 | -31.6% |
| Furniture and vehicles | 24 | €1,355 | €895 | -€460 | -33.9% |
| Financial fixed assets | 28 | €2,182,537 | €2,207,537 | +€25,000 | +1.1% |
| Current assets | 29/58 | €315,971 | €388,242 | +€72,271 | +22.9% |
| Amounts receivable after more than one year | 29 | €230,000 | €302,000 | +€72,000 | +31.3% |
| Other amounts receivable | 291 | €230,000 | €302,000 | +€72,000 | +31.3% |
| Amounts receivable within one year | 40/41 | €31,051 | €55,434 | +€24,382 | +78.5% |
| Trade receivables | 40 | €31,051 | €55,434 | +€24,382 | +78.5% |
| Cash at bank and in hand | 54/58 | €44,902 | €17,574 | -€27,328 | -60.9% |
| Deferred charges and accrued income | 490/1 | €10,017 | €13,234 | +€3,217 | +32.1% |
| Total equity and liabilities | 10/49 | €3,212,283 | €3,277,250 | +€64,968 | +2.0% |
| Equity | 10/15 | €1,156,771 | €1,369,302 | +€212,531 | +18.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €376,200 | €576,200 | +€200,000 | +53.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €370,000 | €570,000 | +€200,000 | +54.1% |
| Profit (loss) carried forward | 14 | €718,571 | €731,102 | +€12,531 | +1.7% |
| Amounts payable | 17/49 | €2,055,512 | €1,907,949 | -€147,563 | -7.2% |
| Amounts payable after more than one year | 17 | €1,789,560 | €1,596,517 | -€193,043 | -10.8% |
| Financial debts | 170/4 | €700,795 | €507,752 | -€193,043 | -27.5% |
| Other amounts payable | 178/9 | €1,088,765 | €1,088,765 | = | 0.0% |
| Amounts payable within one year | 42/48 | €265,718 | €311,432 | +€45,714 | +17.2% |
| Current portion of amounts payable after more than one year | 42 | €188,268 | €193,043 | +€4,776 | +2.5% |
| Trade debts | 44 | €10,305 | €13,955 | +€3,650 | +35.4% |
| Suppliers | 440/4 | €10,305 | €13,955 | +€3,650 | +35.4% |
| Taxes, remuneration and social security | 45 | €8,487 | €62,498 | +€54,011 | +636% |
| Taxes | 450/3 | €8,487 | €62,498 | +€54,011 | +636% |
| Other amounts payable | 47/48 | €58,658 | €41,936 | -€16,723 | -28.5% |
| Accrued charges and deferred income | 492/3 | €234 | - | -€234 | |
| Non-recurring operating income | 76A | - | €2,360 | +€2,360 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,615 | €50,074 | -€541 | -1.1% |
| Other operating charges | 640/8 | €8,651 | €10,836 | +€2,185 | +25.3% |
| Gross operating margin | 9900 | €205,849 | €199,392 | -€6,457 | -3.1% |
| Operating profit (loss) | 9901 | €146,583 | €138,482 | -€8,101 | -5.5% |
| Financial income | 75/76B | €330,638 | €150,000 | -€180,638 | -54.6% |
| Recurring financial income | 75 | €330,638 | €150,000 | -€180,638 | -54.6% |
| Financial charges | 65/66B | €27,051 | €21,940 | -€5,111 | -18.9% |
| Recurring financial charges | 65 | €27,051 | €21,940 | -€5,111 | -18.9% |
| Profit (loss) for the period before taxes | 9903 | €450,170 | €266,542 | -€183,628 | -40.8% |
| Income taxes | 67/77 | €43,778 | €54,011 | +€10,232 | +23.4% |
| Profit (loss) for the period | 9904 | €406,392 | €212,531 | -€193,861 | -47.7% |
| Profit (loss) for the period to be appropriated | 9905 | €406,392 | €212,531 | -€193,861 | -47.7% |
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 29 October 2026 via checked.be.