DENILUK: 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.
DENILUK
Largest movements
- Cash +€97,218
up €97,218 (+562%), from €17,309 to €114,526
mainly Net result for the year (+€45,849) and Accrued charges and deferred income (+€31,597)
- Receivables within one year -€20,068
down €20,068 (-3.1%), from €643,688 to €623,620
of which Other amounts receivable: -€44,268
- Accrued charges and deferred income +€31,597
new in 2025: €31,597
- Other debts +€29,566
up €29,566 (+1,108%), from €2,669 to €32,235
- Gross operating margin -€33,430
down €33,430 (-25.5%), from €131,302 to €97,871
- Taxes -€23,968
down €23,968 (-49.1%), from €48,848 to €24,880
- Depreciation +€8,480
up €8,480 (+188%), from €4,514 to €12,994
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 | €846,876 | €930,186 | +€83,310 | +9.8% |
| Fixed assets | 21/28 | €179,176 | €185,816 | +€6,640 | +3.7% |
| Tangible fixed assets | 22/27 | €179,176 | €185,816 | +€6,640 | +3.7% |
| Land and buildings | 22 | €160,644 | €159,032 | -€1,612 | -1.0% |
| Plant, machinery and equipment | 23 | €18,532 | €26,784 | +€8,252 | +44.5% |
| Current assets | 29/58 | €667,700 | €744,370 | +€76,670 | +11.5% |
| Amounts receivable within one year | 40/41 | €643,688 | €623,620 | -€20,068 | -3.1% |
| Trade receivables | 40 | €534,438 | €558,638 | +€24,200 | +4.5% |
| Other amounts receivable | 41 | €109,250 | €64,982 | -€44,268 | -40.5% |
| Cash at bank and in hand | 54/58 | €17,309 | €114,526 | +€97,218 | +562% |
| Deferred charges and accrued income | 490/1 | €6,704 | €6,224 | -€480 | -7.2% |
| Total equity and liabilities | 10/49 | €846,876 | €930,186 | +€83,310 | +9.8% |
| Equity | 10/15 | €819,809 | €827,995 | +€8,186 | +1.0% |
| Contributions | 10/11 | €322,262 | €322,262 | = | 0.0% |
| Reserves | 13 | €497,548 | €505,733 | +€8,186 | +1.6% |
| Distributable reserves | 133 | €497,548 | €505,733 | +€8,186 | +1.6% |
| Amounts payable | 17/49 | €27,067 | €102,191 | +€75,124 | +278% |
| Amounts payable within one year | 42/48 | €27,067 | €70,595 | +€43,528 | +161% |
| Trade debts | 44 | €25 | €9,139 | +€9,113 | +36,136% |
| Suppliers | 440/4 | €25 | €9,139 | +€9,113 | +36,136% |
| Taxes, remuneration and social security | 45 | €24,373 | €29,221 | +€4,848 | +19.9% |
| Taxes | 450/3 | €24,373 | €29,221 | +€4,848 | +19.9% |
| Other amounts payable | 47/48 | €2,669 | €32,235 | +€29,566 | +1,108% |
| Accrued charges and deferred income | 492/3 | - | €31,597 | +€31,597 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,514 | €12,994 | +€8,480 | +188% |
| Other operating charges | 640/8 | €13,283 | €13,020 | -€264 | -2.0% |
| Gross operating margin | 9900 | €131,302 | €97,871 | -€33,430 | -25.5% |
| Operating profit (loss) | 9901 | €113,504 | €71,858 | -€41,646 | -36.7% |
| Financial income | 75/76B | €208 | €278 | +€70 | +33.4% |
| Recurring financial income | 75 | €208 | €278 | +€70 | +33.4% |
| Financial charges | 65/66B | €845 | €1,408 | +€563 | +66.6% |
| Recurring financial charges | 65 | €845 | €1,408 | +€563 | +66.6% |
| Profit (loss) for the period before taxes | 9903 | €112,868 | €70,728 | -€42,140 | -37.3% |
| Income taxes | 67/77 | €48,848 | €24,880 | -€23,968 | -49.1% |
| Profit (loss) for the period | 9904 | €64,020 | €45,849 | -€18,172 | -28.4% |
| Profit (loss) for the period to be appropriated | 9905 | €64,020 | €45,849 | -€18,172 | -28.4% |
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 17 October 2026 via checked.be.