DENIS DANIEL: 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.
DENIS DANIEL
Largest movements
- Cash -€230,138
down €230,138 (-48.5%), from €474,846 to €244,707
mainly Current investments (-€200,000) and Net result for the year (-€37,267)
- Current investments +€200,000
new in 2025: €200,000
- Profit (loss) carried forward -€37,267
down €37,267 (-58.3%), from €63,935 to €26,668
- Trade debts +€17,496
up €17,496 (+4155.6%), from €421 to €17,917
- Other debts -€6,158
down €6,158 (-54.4%), from €11,316 to €5,157
- Other operating charges -€8,599
down €8,599 (-86.5%), from €9,939 to €1,340
- Financial income +€831
up €831 (+61.3%), from €1,356 to €2,188
- Financial charges -€384
down €384 (-38.5%), from €998 to €614
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 | €517,304 | €491,374 | -€25,929 | -5.0% |
| Current assets | 29/58 | €517,304 | €491,374 | -€25,929 | -5.0% |
| Stocks and contracts in progress | 3 | €10,858 | €15,563 | +€4,705 | +43.3% |
| Stocks | 30/36 | €10,858 | €15,563 | +€4,705 | +43.3% |
| Amounts receivable within one year | 40/41 | €28,605 | €28,043 | -€562 | -2.0% |
| Trade receivables | 40 | €23,080 | €21,394 | -€1,686 | -7.3% |
| Other amounts receivable | 41 | €5,525 | €6,650 | +€1,125 | +20.4% |
| Current investments | 50/53 | - | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €474,846 | €244,707 | -€230,138 | -48.5% |
| Deferred charges and accrued income | 490/1 | €2,995 | €3,061 | +€66 | +2.2% |
| Total equity and liabilities | 10/49 | €517,304 | €491,374 | -€25,929 | -5.0% |
| Equity | 10/15 | €501,893 | €464,626 | -€37,267 | -7.4% |
| Contributions | 10/11 | €20,451 | €20,451 | = | 0.0% |
| Reserves | 13 | €417,507 | €417,507 | = | 0.0% |
| Tax-exempt reserves | 132 | €12,707 | €12,707 | = | 0.0% |
| Distributable reserves | 133 | €404,800 | €404,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | €63,935 | €26,668 | -€37,267 | -58.3% |
| Amounts payable | 17/49 | €15,411 | €26,749 | +€11,338 | +73.6% |
| Amounts payable within one year | 42/48 | €15,411 | €26,749 | +€11,338 | +73.6% |
| Trade debts | 44 | €421 | €17,917 | +€17,496 | +4155.6% |
| Suppliers | 440/4 | €421 | €17,917 | +€17,496 | +4155.6% |
| Taxes, remuneration and social security | 45 | €3,674 | €3,674 | = | 0.0% |
| Taxes | 450/3 | €3,674 | €3,674 | = | 0.0% |
| Other amounts payable | 47/48 | €11,316 | €5,157 | -€6,158 | -54.4% |
| Other operating charges | 640/8 | €9,939 | €1,340 | -€8,599 | -86.5% |
| Gross operating margin | 9900 | -€36,559 | -€36,845 | -€286 | -0.8% |
| Operating profit (loss) | 9901 | -€46,497 | -€38,185 | +€8,312 | +17.9% |
| Financial income | 75/76B | €1,356 | €2,188 | +€831 | +61.3% |
| Recurring financial income | 75 | €1,356 | €2,188 | +€831 | +61.3% |
| Financial charges | 65/66B | €998 | €614 | -€384 | -38.5% |
| Recurring financial charges | 65 | €998 | €614 | -€384 | -38.5% |
| Profit (loss) for the period before taxes | 9903 | -€46,139 | -€36,611 | +€9,528 | +20.7% |
| Income taxes | 67/77 | €407 | €656 | +€249 | +61.3% |
| Profit (loss) for the period | 9904 | -€46,545 | -€37,267 | +€9,278 | +19.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€46,545 | -€37,267 | +€9,278 | +19.9% |
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 5 October 2026 via checked.be.