DENIERE: 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.
DENIERE
Largest movements
- Receivables within one year -€33,240
down €33,240 (-42.0%), from €79,158 to €45,918
of which Trade receivables: -€35,742
- Cash +€26,574
up €26,574 (+136.4%), from €19,485 to €46,059
mainly Receivables within one year (+€33,240) and Depreciation (+€10,575)
- Stocks and contracts -€8,482
down €8,482 (-78.5%), from €10,804 to €2,322
- Tangible fixed assets -€7,375
down €7,375 (-5.4%), from €137,543 to €130,167
of which Furniture and vehicles: -€10,144
- Tax, wage and social debts -€9,931
down €9,931 (-75.6%), from €13,136 to €3,205
of which Taxes: -€7,162
- Debts after one year -€5,884
down €5,884 (-27.8%), from €21,179 to €15,295
- Reserves -€2,541
down €2,541 (-1.5%), from €167,909 to €165,368
of which Tax-exempt reserves: -€1,917
- Gross operating margin -€76,515
down €76,515 (-71.1%), from €107,660 to €31,145
- Staff costs -€37,480
down €37,480 (-65.3%), from €57,359 to €19,878
- Taxes -€7,196
down €7,196 (-92.7%), from €7,766 to €569
- Depreciation +€3,971
up €3,971 (+60.1%), from €6,604 to €10,575
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 | €250,330 | €228,871 | -€21,459 | -8.6% |
| Fixed assets | 21/28 | €137,558 | €130,182 | -€7,375 | -5.4% |
| Tangible fixed assets | 22/27 | €137,543 | €130,167 | -€7,375 | -5.4% |
| Land and buildings | 22 | €95,530 | €95,530 | = | 0.0% |
| Plant, machinery and equipment | 23 | - | €2,769 | +€2,769 | |
| Furniture and vehicles | 24 | €42,012 | €31,868 | -€10,144 | -24.1% |
| Financial fixed assets | 28 | €15 | €15 | = | 0.0% |
| Current assets | 29/58 | €112,772 | €98,689 | -€14,083 | -12.5% |
| Stocks and contracts in progress | 3 | €10,804 | €2,322 | -€8,482 | -78.5% |
| Stocks | 30/36 | €10,804 | €2,322 | -€8,482 | -78.5% |
| Amounts receivable within one year | 40/41 | €79,158 | €45,918 | -€33,240 | -42.0% |
| Trade receivables | 40 | €47,954 | €12,212 | -€35,742 | -74.5% |
| Other amounts receivable | 41 | €31,204 | €33,706 | +€2,502 | +8.0% |
| Cash at bank and in hand | 54/58 | €19,485 | €46,059 | +€26,574 | +136.4% |
| Deferred charges and accrued income | 490/1 | €3,325 | €4,389 | +€1,064 | +32.0% |
| Total equity and liabilities | 10/49 | €250,330 | €228,871 | -€21,459 | -8.6% |
| Equity | 10/15 | €186,509 | €183,968 | -€2,541 | -1.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €167,909 | €165,368 | -€2,541 | -1.5% |
| Tax-exempt reserves | 132 | €8,440 | €6,522 | -€1,917 | -22.7% |
| Distributable reserves | 133 | €159,469 | €158,846 | -€624 | -0.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €2,110 | €1,631 | -€479 | -22.7% |
| Deferred taxes | 168 | €2,110 | €1,631 | -€479 | -22.7% |
| Amounts payable | 17/49 | €61,711 | €43,273 | -€18,438 | -29.9% |
| Amounts payable after more than one year | 17 | €21,179 | €15,295 | -€5,884 | -27.8% |
| Financial debts | 170/4 | €21,179 | €15,295 | -€5,884 | -27.8% |
| Amounts payable within one year | 42/48 | €38,040 | €27,978 | -€10,062 | -26.5% |
| Current portion of amounts payable after more than one year | 42 | €5,640 | €5,884 | +€244 | +4.3% |
| Financial debts | 43 | €126 | €245 | +€119 | +94.0% |
| Credit institutions | 430/8 | €126 | €245 | +€119 | +94.0% |
| Trade debts | 44 | €16,127 | €17,374 | +€1,247 | +7.7% |
| Suppliers | 440/4 | €16,127 | €17,374 | +€1,247 | +7.7% |
| Taxes, remuneration and social security | 45 | €13,136 | €3,205 | -€9,931 | -75.6% |
| Taxes | 450/3 | €10,367 | €3,205 | -€7,162 | -69.1% |
| Remuneration and social security | 454/9 | €2,770 | €0 | -€2,770 | -100.0% |
| Other amounts payable | 47/48 | €3,010 | €1,270 | -€1,741 | -57.8% |
| Accrued charges and deferred income | 492/3 | €2,492 | €0 | -€2,492 | -100.0% |
| Non-recurring operating income | 76A | €11,983 | €0 | -€11,983 | -100.0% |
| Remuneration, social security and pensions | 62 | €57,359 | €19,878 | -€37,480 | -65.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,604 | €10,575 | +€3,971 | +60.1% |
| Other operating charges | 640/8 | €1,796 | €1,593 | -€203 | -11.3% |
| Gross operating margin | 9900 | €107,660 | €31,145 | -€76,515 | -71.1% |
| Operating profit (loss) | 9901 | €41,901 | -€902 | -€42,802 | |
| Financial income | 75/76B | €705 | €285 | -€419 | -59.5% |
| Recurring financial income | 75 | €705 | €285 | -€419 | -59.5% |
| Financial charges | 65/66B | €2,139 | €1,835 | -€305 | -14.2% |
| Recurring financial charges | 65 | €2,139 | €1,835 | -€305 | -14.2% |
| Profit (loss) for the period before taxes | 9903 | €40,466 | -€2,451 | -€42,917 | |
| Transfer from deferred taxes | 780 | €287 | €479 | +€193 | +67.1% |
| Transfer to deferred taxes | 680 | €2,397 | €0 | -€2,397 | -100.0% |
| Income taxes | 67/77 | €7,766 | €569 | -€7,196 | -92.7% |
| Profit (loss) for the period | 9904 | €30,591 | -€2,541 | -€33,132 | |
| Transfer from tax-exempt reserves | 789 | €1,147 | €1,917 | +€770 | +67.1% |
| Transfer to tax-exempt reserves | 689 | €9,587 | €0 | -€9,587 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,151 | -€624 | -€22,775 |
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 1 October 2026 via checked.be.