Denis-Holding: 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-Holding
Largest movements
- Tangible fixed assets -€435,247
down €435,247 (-100%), from €435,247 to €0
- Receivables within one year +€423,359
up €423,359 (+299%), from €141,500 to €564,860
of which Trade receivables: +€514,000
- Cash +€377,647
up €377,647 (+259%), from €145,656 to €523,303
mainly Net result for the year (+€832,798) and Investment in fixed assets (net) (+€432,247)
- Current investments -€328,682
down €328,682 (-100%), from €328,682 to €0
- Profit (loss) carried forward +€332,798
up €332,798 (+23.4%), from €1.4m to €1.8m
- Other debts -€269,900
down €269,900 (-37.3%), from €724,213 to €454,313
- Current portion of long-term debt -€214,286
down €214,286 (-100%), from €214,286 to €0
- Tax, wage and social debts +€171,557
up €171,557 (+520%), from €32,980 to €204,537
- Gross operating margin +€463,908
up €463,908 (+745%), from €62,298 to €526,207
- Financial income +€218,019
up €218,019 (+84.8%), from €257,178 to €475,197
- Taxes +€120,021
up €120,021 (+2,299%), from €5,221 to €125,242
- Depreciation -€10,553
down €10,553 (-100%), from €10,553 to €0
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 | €4,051,086 | €4,091,163 | +€40,077 | +1.0% |
| Fixed assets | 21/28 | €3,435,247 | €3,003,000 | -€432,247 | -12.6% |
| Tangible fixed assets | 22/27 | €435,247 | €0 | -€435,247 | -100% |
| Land and buildings | 22 | €435,247 | €0 | -€435,247 | -100% |
| Financial fixed assets | 28 | €3,000,000 | €3,003,000 | +€3,000 | +0.1% |
| Current assets | 29/58 | €615,838 | €1,088,163 | +€472,324 | +76.7% |
| Amounts receivable within one year | 40/41 | €141,500 | €564,860 | +€423,359 | +299% |
| Trade receivables | 40 | €50,000 | €564,000 | +€514,000 | +1,028% |
| Other amounts receivable | 41 | €91,500 | €860 | -€90,641 | -99.1% |
| Current investments | 50/53 | €328,682 | €0 | -€328,682 | -100% |
| Cash at bank and in hand | 54/58 | €145,656 | €523,303 | +€377,647 | +259% |
| Total equity and liabilities | 10/49 | €4,051,086 | €4,091,163 | +€40,077 | +1.0% |
| Equity | 10/15 | €1,438,400 | €1,771,199 | +€332,798 | +23.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,419,800 | €1,752,599 | +€332,798 | +23.4% |
| Amounts payable | 17/49 | €2,612,686 | €2,319,964 | -€292,722 | -11.2% |
| Amounts payable after more than one year | 17 | €1,500,000 | €1,500,000 | = | 0.0% |
| Financial debts | 170/4 | €1,500,000 | €1,500,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €975,811 | €660,589 | -€315,222 | -32.3% |
| Current portion of amounts payable after more than one year | 42 | €214,286 | €0 | -€214,286 | -100% |
| Trade debts | 44 | €1,549 | €1,739 | +€190 | +12.3% |
| Suppliers | 440/4 | €1,549 | €1,739 | +€190 | +12.3% |
| Advances received on contracts in progress | 46 | €2,783 | €0 | -€2,783 | -100% |
| Taxes, remuneration and social security | 45 | €32,980 | €204,537 | +€171,557 | +520% |
| Taxes | 450/3 | €32,980 | €204,537 | +€171,557 | +520% |
| Other amounts payable | 47/48 | €724,213 | €454,313 | -€269,900 | -37.3% |
| Accrued charges and deferred income | 492/3 | €136,875 | €159,375 | +€22,500 | +16.4% |
| Non-recurring operating income | 76A | - | €10,553 | +€10,553 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,553 | €0 | -€10,553 | -100% |
| Other operating charges | 640/8 | €1,188 | €6,412 | +€5,224 | +440% |
| Gross operating margin | 9900 | €62,298 | €526,207 | +€463,908 | +745% |
| Operating profit (loss) | 9901 | €50,557 | €519,794 | +€469,237 | +928% |
| Financial income | 75/76B | €257,178 | €475,197 | +€218,019 | +84.8% |
| Recurring financial income | 75 | €257,178 | €475,197 | +€218,019 | +84.8% |
| Financial charges | 65/66B | €39,304 | €36,951 | -€2,353 | -6.0% |
| Recurring financial charges | 65 | €39,304 | €36,951 | -€2,353 | -6.0% |
| Profit (loss) for the period before taxes | 9903 | €268,432 | €958,040 | +€689,609 | +257% |
| Income taxes | 67/77 | €5,221 | €125,242 | +€120,021 | +2,299% |
| Profit (loss) for the period | 9904 | €263,210 | €832,798 | +€569,588 | +216% |
| Profit (loss) for the period to be appropriated | 9905 | €263,210 | €832,798 | +€569,588 | +216% |
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 22 October 2026 via checked.be.