DENFEET: 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.
DENFEET
Largest movements
- Receivables within one year -€17,857
down €17,857 (-69.0%), from €25,879 to €8,022
of which Trade receivables: -€23,327
- Tangible fixed assets -€15,243
down €15,243 (-6.5%), from €235,686 to €220,443
of which Furniture and vehicles: -€12,280
- Cash -€10,698
down €10,698 (-63.1%), from €16,950 to €6,252
mainly Contributions, distributions and other (-€72,422) and Trade debts (-€21,916)
- Reserves -€85,321
down €85,321 (-18.0%), from €472,792 to €387,471
- Other debts +€72,226
up €72,226 (+72.2%), from €100,040 to €172,266
- Trade debts -€21,916
down €21,916 (-98.4%), from €22,269 to €353
- Gross operating margin -€20,164
down €20,164 (-55.1%), from €36,586 to €16,422
- Depreciation +€20,032
up €20,032 (+1692.1%), from €1,184 to €21,216
- Taxes -€5,176
down €5,176 (-95.6%), from €5,417 to €241
- Financial income -€1,674
down €1,674 (-37.3%), from €4,484 to €2,810
- Other operating charges +€1,309
up €1,309 (+97.1%), from €1,347 to €2,656
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 | €662,238 | €622,344 | -€39,894 | -6.0% |
| Fixed assets | 21/28 | €235,686 | €220,643 | -€15,043 | -6.4% |
| Tangible fixed assets | 22/27 | €235,686 | €220,443 | -€15,243 | -6.5% |
| Land and buildings | 22 | €176,242 | €173,279 | -€2,963 | -1.7% |
| Furniture and vehicles | 24 | €59,444 | €47,164 | -€12,280 | -20.7% |
| Financial fixed assets | 28 | - | €200 | +€200 | |
| Current assets | 29/58 | €426,552 | €401,701 | -€24,851 | -5.8% |
| Amounts receivable within one year | 40/41 | €25,879 | €8,022 | -€17,857 | -69.0% |
| Trade receivables | 40 | €25,747 | €2,420 | -€23,327 | -90.6% |
| Other amounts receivable | 41 | €132 | €5,602 | +€5,470 | +4150.5% |
| Current investments | 50/53 | €383,723 | €386,723 | +€3,000 | +0.8% |
| Cash at bank and in hand | 54/58 | €16,950 | €6,252 | -€10,698 | -63.1% |
| Deferred charges and accrued income | 490/1 | - | €704 | +€704 | |
| Total equity and liabilities | 10/49 | €662,238 | €622,344 | -€39,894 | -6.0% |
| Equity | 10/15 | €522,792 | €437,471 | -€85,321 | -16.3% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €472,792 | €387,471 | -€85,321 | -18.0% |
| Distributable reserves | 133 | €472,792 | €387,471 | -€85,321 | -18.0% |
| Amounts payable | 17/49 | €139,445 | €184,873 | +€45,427 | +32.6% |
| Amounts payable within one year | 42/48 | €130,703 | €177,330 | +€46,627 | +35.7% |
| Current portion of amounts payable after more than one year | 42 | €6,000 | - | -€6,000 | |
| Trade debts | 44 | €22,269 | €353 | -€21,916 | -98.4% |
| Suppliers | 440/4 | €22,269 | €353 | -€21,916 | -98.4% |
| Taxes, remuneration and social security | 45 | €2,393 | €4,711 | +€2,317 | +96.8% |
| Taxes | 450/3 | €2,393 | €4,711 | +€2,317 | +96.8% |
| Other amounts payable | 47/48 | €100,040 | €172,266 | +€72,226 | +72.2% |
| Accrued charges and deferred income | 492/3 | €8,743 | €7,543 | -€1,200 | -13.7% |
| Non-recurring operating income | 76A | €22,877 | - | -€22,877 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,184 | €21,216 | +€20,032 | +1692.1% |
| Other operating charges | 640/8 | €1,347 | €2,656 | +€1,309 | +97.1% |
| Gross operating margin | 9900 | €36,586 | €16,422 | -€20,164 | -55.1% |
| Operating profit (loss) | 9901 | €34,054 | -€7,451 | -€41,505 | |
| Financial income | 75/76B | €4,484 | €2,810 | -€1,674 | -37.3% |
| Recurring financial income | 75 | €4,484 | €2,810 | -€1,674 | -37.3% |
| Financial charges | 65/66B | €8,837 | €8,017 | -€820 | -9.3% |
| Recurring financial charges | 65 | €8,837 | €8,017 | -€820 | -9.3% |
| Profit (loss) for the period before taxes | 9903 | €29,702 | -€12,658 | -€42,359 | |
| Income taxes | 67/77 | €5,417 | €241 | -€5,176 | -95.6% |
| Profit (loss) for the period | 9904 | €24,285 | -€12,899 | -€37,184 | |
| Profit (loss) for the period to be appropriated | 9905 | €24,285 | -€12,899 | -€37,184 |
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 10 October 2026 via checked.be.