Denis - Knubben: 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 - Knubben
Largest movements
- Receivables within one year +€12,389
up €12,389 (+11.6%), from €107,139 to €119,527
of which Trade receivables: +€12,389
- Intangible fixed assets +€6,233
up €6,233, from €0 to €6,233
- Other debts +€20,415
up €20,415 (+32.9%), from €62,140 to €82,555
- Short-term financial debts +€9,373
up €9,373 (+500%), from €1,875 to €11,249
- Profit (loss) carried forward -€9,336
down €9,336 (-64.9%), from -€14,379 to -€23,715
- Gross operating margin +€8,036
up €8,036, from -€4,312 to €3,724
- Depreciation +€2,752
up €2,752 (+57.5%), from €4,789 to €7,542
- Financial charges -€461
down €461 (-28.5%), from €1,618 to €1,157
- Other operating charges +€281
up €281 (+6.9%), from €4,082 to €4,363
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 | €175,176 | €195,018 | +€19,843 | +11.3% |
| Fixed assets | 21/28 | €27,036 | €31,605 | +€4,568 | +16.9% |
| Intangible fixed assets | 21 | €0 | €6,233 | +€6,233 | |
| Tangible fixed assets | 22/27 | €27,036 | €25,372 | -€1,664 | -6.2% |
| Land and buildings | 22 | €12,021 | €12,021 | = | 0.0% |
| Plant, machinery and equipment | 23 | €15,015 | €9,617 | -€5,398 | -36.0% |
| Furniture and vehicles | 24 | €0 | €3,734 | +€3,734 | |
| Current assets | 29/58 | €148,139 | €163,414 | +€15,275 | +10.3% |
| Stocks and contracts in progress | 3 | €38,244 | €40,004 | +€1,760 | +4.6% |
| Stocks | 30/36 | €38,244 | €40,004 | +€1,760 | +4.6% |
| Amounts receivable within one year | 40/41 | €107,139 | €119,527 | +€12,389 | +11.6% |
| Trade receivables | 40 | €107,119 | €119,507 | +€12,389 | +11.6% |
| Other amounts receivable | 41 | €20 | €20 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2,296 | €2,944 | +€647 | +28.2% |
| Deferred charges and accrued income | 490/1 | €460 | €939 | +€479 | +104% |
| Total equity and liabilities | 10/49 | €175,176 | €195,018 | +€19,843 | +11.3% |
| Equity | 10/15 | €7,347 | -€1,989 | -€9,336 | |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €3,134 | €3,134 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,274 | €1,274 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€14,379 | -€23,715 | -€9,336 | -64.9% |
| Amounts payable | 17/49 | €167,829 | €197,007 | +€29,179 | +17.4% |
| Amounts payable within one year | 42/48 | €167,829 | €197,007 | +€29,179 | +17.4% |
| Financial debts | 43 | €1,875 | €11,249 | +€9,373 | +500% |
| Credit institutions | 430/8 | €1,875 | €11,249 | +€9,373 | +500% |
| Trade debts | 44 | €102,958 | €103,102 | +€144 | +0.1% |
| Suppliers | 440/4 | €102,958 | €103,102 | +€144 | +0.1% |
| Taxes, remuneration and social security | 45 | €855 | €102 | -€753 | -88.1% |
| Taxes | 450/3 | €855 | €102 | -€753 | -88.1% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €62,140 | €82,555 | +€20,415 | +32.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,789 | €7,542 | +€2,752 | +57.5% |
| Other operating charges | 640/8 | €4,082 | €4,363 | +€281 | +6.9% |
| Gross operating margin | 9900 | -€4,312 | €3,724 | +€8,036 | |
| Operating profit (loss) | 9901 | -€13,184 | -€8,181 | +€5,003 | +37.9% |
| Financial income | 75/76B | €36 | €2 | -€34 | -95.8% |
| Recurring financial income | 75 | €36 | €2 | -€34 | -95.8% |
| Financial charges | 65/66B | €1,618 | €1,157 | -€461 | -28.5% |
| Recurring financial charges | 65 | €1,618 | €1,157 | -€461 | -28.5% |
| Profit (loss) for the period before taxes | 9903 | -€14,766 | -€9,336 | +€5,430 | +36.8% |
| Profit (loss) for the period | 9904 | -€14,766 | -€9,336 | +€5,430 | +36.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,766 | -€9,336 | +€5,430 | +36.8% |
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 19 October 2026 via checked.be.