DENIS: 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.
DENIS
Largest movements
- Cash +€57,804
up €57,804 (+18.5%), from €311,983 to €369,787
mainly Net result for the year (+€122,388) and Depreciation (+€27,022)
- Tangible fixed assets +€24,894
up €24,894 (+14.7%), from €169,009 to €193,903
of which Furniture and vehicles: +€27,280
- Receivables within one year +€23,076
up €23,076 (+170%), from €13,567 to €36,643
of which Trade receivables: +€12,933
- Reserves +€99,249
up €99,249 (+27.4%), from €362,248 to €461,497
- Other debts +€24,298
up €24,298 (+129%), from €18,793 to €43,092
- Debts after one year -€10,516
down €10,516 (-18.2%), from €57,784 to €47,268
- Tax, wage and social debts -€9,165
down €9,165 (-25.3%), from €36,246 to €27,080
of which Taxes: -€7,615
- Gross operating margin +€69,339
up €69,339 (+46.7%), from €148,584 to €217,924
- Taxes +€25,176
up €25,176 (+63.3%), from €39,757 to €64,933
- Depreciation +€3,517
up €3,517 (+15.0%), from €23,504 to €27,022
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 | €496,001 | €601,236 | +€105,235 | +21.2% |
| Fixed assets | 21/28 | €169,009 | €193,903 | +€24,894 | +14.7% |
| Tangible fixed assets | 22/27 | €169,009 | €193,903 | +€24,894 | +14.7% |
| Land and buildings | 22 | €112,990 | €105,089 | -€7,902 | -7.0% |
| Plant, machinery and equipment | 23 | €32,357 | €37,872 | +€5,516 | +17.0% |
| Furniture and vehicles | 24 | €9,722 | €37,002 | +€27,280 | +281% |
| Other tangible fixed assets | 26 | €13,940 | €13,940 | = | 0.0% |
| Current assets | 29/58 | €326,992 | €407,332 | +€80,340 | +24.6% |
| Amounts receivable within one year | 40/41 | €13,567 | €36,643 | +€23,076 | +170% |
| Trade receivables | 40 | €13,567 | €26,499 | +€12,933 | +95.3% |
| Other amounts receivable | 41 | - | €10,143 | +€10,143 | |
| Cash at bank and in hand | 54/58 | €311,983 | €369,787 | +€57,804 | +18.5% |
| Deferred charges and accrued income | 490/1 | €1,442 | €903 | -€540 | -37.4% |
| Total equity and liabilities | 10/49 | €496,001 | €601,236 | +€105,235 | +21.2% |
| Equity | 10/15 | €368,498 | €467,747 | +€99,249 | +26.9% |
| Contributions | 10/11 | €6,250 | €6,250 | = | 0.0% |
| Reserves | 13 | €362,248 | €461,497 | +€99,249 | +27.4% |
| Distributable reserves | 133 | €362,248 | €461,497 | +€99,249 | +27.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €127,503 | €133,489 | +€5,986 | +4.7% |
| Amounts payable after more than one year | 17 | €57,784 | €47,268 | -€10,516 | -18.2% |
| Financial debts | 170/4 | €57,784 | €47,268 | -€10,516 | -18.2% |
| Amounts payable within one year | 42/48 | €66,477 | €82,366 | +€15,889 | +23.9% |
| Current portion of amounts payable after more than one year | 42 | €10,373 | €10,516 | +€143 | +1.4% |
| Trade debts | 44 | €1,065 | €1,678 | +€613 | +57.5% |
| Suppliers | 440/4 | €1,065 | €1,678 | +€613 | +57.5% |
| Taxes, remuneration and social security | 45 | €36,246 | €27,080 | -€9,165 | -25.3% |
| Taxes | 450/3 | €34,696 | €27,080 | -€7,615 | -21.9% |
| Remuneration and social security | 454/9 | €1,550 | €0 | -€1,550 | -100% |
| Other amounts payable | 47/48 | €18,793 | €43,092 | +€24,298 | +129% |
| Accrued charges and deferred income | 492/3 | €3,242 | €3,855 | +€613 | +18.9% |
| Non-recurring operating income | 76A | - | €9,116 | +€9,116 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,504 | €27,022 | +€3,517 | +15.0% |
| Other operating charges | 640/8 | €1,606 | €1,310 | -€296 | -18.4% |
| Gross operating margin | 9900 | €148,584 | €217,924 | +€69,339 | +46.7% |
| Operating profit (loss) | 9901 | €123,474 | €189,592 | +€66,118 | +53.5% |
| Financial income | 75/76B | €13 | €7 | -€7 | -50.2% |
| Recurring financial income | 75 | €13 | €7 | -€7 | -50.2% |
| Financial charges | 65/66B | €1,959 | €2,278 | +€319 | +16.3% |
| Recurring financial charges | 65 | €1,959 | €2,278 | +€319 | +16.3% |
| Profit (loss) for the period before taxes | 9903 | €121,528 | €187,321 | +€65,792 | +54.1% |
| Income taxes | 67/77 | €39,757 | €64,933 | +€25,176 | +63.3% |
| Profit (loss) for the period | 9904 | €81,771 | €122,388 | +€40,617 | +49.7% |
| Profit (loss) for the period to be appropriated | 9905 | €81,771 | €122,388 | +€40,617 | +49.7% |
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 25 October 2026 via checked.be.