DENEVE & PARTNERS: 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.
DENEVE & PARTNERS
Largest movements
- Tangible fixed assets -€20,320
down €20,320 (-91.9%), from €22,108 to €1,788
of which Land and buildings: -€20,057
- Cash +€18,209
up €18,209 (+471%), from €3,866 to €22,075
mainly Net result for the year (+€163,025) and Tax, wage and social debts (+€78,949)
- Financial fixed assets -€6,157
down €6,157 (-100%), from €6,157 to €0
- Receivables within one year +€3,808
up €3,808 (+4.8%), from €80,028 to €83,835
of which Trade receivables: +€3,808
- Profit (loss) carried forward +€163,025
up €163,025 (+62.6%), from -€260,347 to -€97,322
- Other debts -€125,450
down €125,450 (-55.1%), from €227,642 to €102,192
- Tax, wage and social debts +€78,949
new in 2025: €78,949
- Trade debts -€77,650
down €77,650 (-91.7%), from €84,700 to €7,050
- Debts after one year -€30,334
down €30,334 (-100%), from €30,334 to €0
- Gross operating margin +€223,257
up €223,257, from -€47,824 to €175,432
- Depreciation -€9,027
down €9,027 (-97.2%), from €9,290 to €263
- Financial charges +€2,001
up €2,001 (+31.4%), from €6,381 to €8,382
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €112,159 | €107,699 | -€4,460 | -4.0% |
| Fixed assets | 21/28 | €28,265 | €1,788 | -€26,477 | -93.7% |
| Tangible fixed assets | 22/27 | €22,108 | €1,788 | -€20,320 | -91.9% |
| Land and buildings | 22 | €20,057 | €0 | -€20,057 | -100% |
| Furniture and vehicles | 24 | €2,051 | €1,788 | -€263 | -12.8% |
| Financial fixed assets | 28 | €6,157 | €0 | -€6,157 | -100% |
| Current assets | 29/58 | €83,894 | €105,911 | +€22,017 | +26.2% |
| Amounts receivable within one year | 40/41 | €80,028 | €83,835 | +€3,808 | +4.8% |
| Trade receivables | 40 | €22,990 | €26,798 | +€3,808 | +16.6% |
| Other amounts receivable | 41 | €57,038 | €57,038 | -€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €3,866 | €22,075 | +€18,209 | +471% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €112,159 | €107,699 | -€4,460 | -4.0% |
| Equity | 10/15 | -€243,517 | -€80,492 | +€163,025 | +66.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €4,430 | €4,430 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €2,570 | €2,570 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€260,347 | -€97,322 | +€163,025 | +62.6% |
| Amounts payable | 17/49 | €355,676 | €188,190 | -€167,485 | -47.1% |
| Amounts payable after more than one year | 17 | €30,334 | €0 | -€30,334 | -100% |
| Financial debts | 170/4 | €30,334 | €0 | -€30,334 | -100% |
| Amounts payable within one year | 42/48 | €325,342 | €188,190 | -€137,152 | -42.2% |
| Current portion of amounts payable after more than one year | 42 | €13,000 | €0 | -€13,000 | -100% |
| Trade debts | 44 | €84,700 | €7,050 | -€77,650 | -91.7% |
| Suppliers | 440/4 | €84,700 | €7,050 | -€77,650 | -91.7% |
| Taxes, remuneration and social security | 45 | - | €78,949 | +€78,949 | |
| Taxes | 450/3 | - | €78,949 | +€78,949 | |
| Other amounts payable | 47/48 | €227,642 | €102,192 | -€125,450 | -55.1% |
| Non-recurring operating income | 76A | - | €39,943 | +€39,943 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,290 | €263 | -€9,027 | -97.2% |
| Other operating charges | 640/8 | €3,597 | €3,762 | +€165 | +4.6% |
| Gross operating margin | 9900 | -€47,824 | €175,432 | +€223,257 | |
| Operating profit (loss) | 9901 | -€60,711 | €171,407 | +€232,118 | |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €6,381 | €8,382 | +€2,001 | +31.4% |
| Recurring financial charges | 65 | €6,381 | €8,382 | +€2,001 | +31.4% |
| Profit (loss) for the period before taxes | 9903 | -€67,092 | €163,025 | +€230,117 | |
| Income taxes | 67/77 | €0 | €0 | -€0 | -40.0% |
| Profit (loss) for the period | 9904 | -€67,092 | €163,025 | +€230,117 | |
| Profit (loss) for the period to be appropriated | 9905 | -€67,092 | €163,025 | +€230,117 |
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 1 November 2026 via checked.be.