Denercon: 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.
Denercon
Largest movements
- Receivables within one year +€171,301
up €171,301 (+133%), from €128,639 to €299,940
of which Trade receivables: +€190,717
- Cash +€59,351
up €59,351 (+35.8%), from €165,997 to €225,348
mainly Net result for the year (+€173,745) and Accrued charges and deferred income (+€77,856)
- Tangible fixed assets -€19,681
down €19,681 (-4.8%), from €406,709 to €387,028
of which Land and buildings: -€18,068
- Accrued charges and deferred income +€77,856
up €77,856, from €0 to €77,856
- Reserves +€69,877
up €69,877 (+31.6%), from €221,003 to €290,880
of which Distributable reserves: +€69,877
- Tax, wage and social debts +€52,437
up €52,437 (+110%), from €47,641 to €100,077
of which Taxes: +€37,922
- Other debts +€36,576
up €36,576 (+39.6%), from €92,276 to €128,852
- Debts after one year -€20,388
down €20,388 (-8.2%), from €248,274 to €227,886
- Gross operating margin +€212,641
up €212,641 (+43.4%), from €489,627 to €702,267
- Staff costs +€128,548
up €128,548 (+44.0%), from €292,450 to €420,998
- Taxes +€27,676
up €27,676 (+86.4%), from €32,017 to €59,693
- Other operating charges -€23,002
down €23,002 (-82.3%), from €27,932 to €4,930
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 | €705,505 | €914,103 | +€208,598 | +29.6% |
| Fixed assets | 21/28 | €408,881 | €388,816 | -€20,065 | -4.9% |
| Intangible fixed assets | 21 | €2,171 | €1,788 | -€384 | -17.7% |
| Tangible fixed assets | 22/27 | €406,709 | €387,028 | -€19,681 | -4.8% |
| Land and buildings | 22 | €391,032 | €372,965 | -€18,068 | -4.6% |
| Plant, machinery and equipment | 23 | €2,866 | €2,053 | -€814 | -28.4% |
| Furniture and vehicles | 24 | €4,881 | €5,346 | +€465 | +9.5% |
| Other tangible fixed assets | 26 | €7,930 | €6,665 | -€1,265 | -16.0% |
| Current assets | 29/58 | €296,625 | €525,288 | +€228,663 | +77.1% |
| Amounts receivable within one year | 40/41 | €128,639 | €299,940 | +€171,301 | +133% |
| Trade receivables | 40 | €98,916 | €289,633 | +€190,717 | +193% |
| Other amounts receivable | 41 | €29,723 | €10,307 | -€19,416 | -65.3% |
| Cash at bank and in hand | 54/58 | €165,997 | €225,348 | +€59,351 | +35.8% |
| Deferred charges and accrued income | 490/1 | €1,990 | €0 | -€1,990 | -100% |
| Total equity and liabilities | 10/49 | €705,505 | €914,103 | +€208,598 | +29.6% |
| Equity | 10/15 | €239,603 | €309,480 | +€69,877 | +29.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €221,003 | €290,880 | +€69,877 | +31.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €51 | €51 | = | 0.0% |
| Distributable reserves | 133 | €220,953 | €290,829 | +€69,877 | +31.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €465,902 | €604,623 | +€138,721 | +29.8% |
| Amounts payable after more than one year | 17 | €248,274 | €227,886 | -€20,388 | -8.2% |
| Financial debts | 170/4 | €248,274 | €227,886 | -€20,388 | -8.2% |
| Amounts payable within one year | 42/48 | €217,628 | €298,882 | +€81,253 | +37.3% |
| Current portion of amounts payable after more than one year | 42 | €19,847 | €20,388 | +€541 | +2.7% |
| Financial debts | 43 | - | €1,712 | +€1,712 | |
| Credit institutions | 430/8 | - | €1,712 | +€1,712 | |
| Trade debts | 44 | €57,865 | €47,853 | -€10,012 | -17.3% |
| Suppliers | 440/4 | €57,865 | €47,853 | -€10,012 | -17.3% |
| Taxes, remuneration and social security | 45 | €47,641 | €100,077 | +€52,437 | +110% |
| Taxes | 450/3 | €13,900 | €51,821 | +€37,922 | +273% |
| Remuneration and social security | 454/9 | €33,741 | €48,256 | +€14,515 | +43.0% |
| Other amounts payable | 47/48 | €92,276 | €128,852 | +€36,576 | +39.6% |
| Accrued charges and deferred income | 492/3 | €0 | €77,856 | +€77,856 | |
| Remuneration, social security and pensions | 62 | €292,450 | €420,998 | +€128,548 | +44.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,405 | €26,229 | +€4,824 | +22.5% |
| Other operating charges | 640/8 | €27,932 | €4,930 | -€23,002 | -82.3% |
| Gross operating margin | 9900 | €489,627 | €702,267 | +€212,641 | +43.4% |
| Operating profit (loss) | 9901 | €147,839 | €250,109 | +€102,270 | +69.2% |
| Financial income | 75/76B | €213 | €45 | -€168 | -78.9% |
| Recurring financial income | 75 | €213 | €45 | -€168 | -78.9% |
| Financial charges | 65/66B | €19,042 | €16,717 | -€2,325 | -12.2% |
| Recurring financial charges | 65 | €19,042 | €16,717 | -€2,325 | -12.2% |
| Profit (loss) for the period before taxes | 9903 | €129,010 | €233,437 | +€104,427 | +80.9% |
| Income taxes | 67/77 | €32,017 | €59,693 | +€27,676 | +86.4% |
| Profit (loss) for the period | 9904 | €96,993 | €173,745 | +€76,751 | +79.1% |
| Profit (loss) for the period to be appropriated | 9905 | €96,993 | €173,745 | +€76,751 | +79.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.