DENIWOL: 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.
DENIWOL
Largest movements
- Cash -€103,606
down €103,606 (-35.8%), from €289,677 to €186,071
mainly Other debts (-€95,962) and Net result for the year (-€24,646)
- Tangible fixed assets -€23,077
down €23,077 (-32.0%), from €72,210 to €49,134
of which Furniture and vehicles: -€19,515
- Receivables within one year +€8,955
up €8,955 (+47.6%), from €18,815 to €27,770
of which Other amounts receivable: +€10,199
- Stocks and contracts +€6,813
up €6,813 (+48.5%), from €14,060 to €20,874
- Other debts -€95,962
no longer reported in 2025 (was €95,962)
- Profit (loss) carried forward -€24,646
down €24,646 (-57.4%), from €42,907 to €18,261
- Trade debts +€17,730
up €17,730 (+36.2%), from €48,946 to €66,675
- Tax, wage and social debts -€10,304
down €10,304 (-33.6%), from €30,699 to €20,394
of which Taxes: -€9,611
- Gross operating margin -€180,393
down €180,393 (-96.0%), from €187,945 to €7,552
- Taxes -€43,736
down €43,736 (-99.4%), from €44,013 to €277
- Financial income +€2,586
up €2,586 (+43.0%), from €6,013 to €8,600
- Staff costs -€2,049
down €2,049 (-13.4%), from €15,287 to €13,239
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 | €404,442 | €291,260 | -€113,183 | -28.0% |
| Fixed assets | 21/28 | €72,409 | €49,306 | -€23,102 | -31.9% |
| Tangible fixed assets | 22/27 | €72,210 | €49,134 | -€23,077 | -32.0% |
| Plant, machinery and equipment | 23 | €2,601 | €1,780 | -€821 | -31.5% |
| Furniture and vehicles | 24 | €61,241 | €41,726 | -€19,515 | -31.9% |
| Other tangible fixed assets | 26 | €8,368 | €5,627 | -€2,741 | -32.8% |
| Financial fixed assets | 28 | €198 | €173 | -€26 | -12.9% |
| Current assets | 29/58 | €332,034 | €241,953 | -€90,080 | -27.1% |
| Stocks and contracts in progress | 3 | €14,060 | €20,874 | +€6,813 | +48.5% |
| Stocks | 30/36 | €14,060 | €20,874 | +€6,813 | +48.5% |
| Amounts receivable within one year | 40/41 | €18,815 | €27,770 | +€8,955 | +47.6% |
| Trade receivables | 40 | €2,702 | €1,458 | -€1,244 | -46.0% |
| Other amounts receivable | 41 | €16,113 | €26,312 | +€10,199 | +63.3% |
| Cash at bank and in hand | 54/58 | €289,677 | €186,071 | -€103,606 | -35.8% |
| Deferred charges and accrued income | 490/1 | €9,481 | €7,239 | -€2,242 | -23.6% |
| Total equity and liabilities | 10/49 | €404,442 | €291,260 | -€113,183 | -28.0% |
| Equity | 10/15 | €228,836 | €204,190 | -€24,646 | -10.8% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €165,469 | €165,469 | = | 0.0% |
| Distributable reserves | 133 | €165,469 | €165,469 | = | 0.0% |
| Profit (loss) carried forward | 14 | €42,907 | €18,261 | -€24,646 | -57.4% |
| Amounts payable | 17/49 | €175,607 | €87,070 | -€88,537 | -50.4% |
| Amounts payable within one year | 42/48 | €175,607 | €87,070 | -€88,537 | -50.4% |
| Trade debts | 44 | €48,946 | €66,675 | +€17,730 | +36.2% |
| Suppliers | 440/4 | €48,946 | €66,675 | +€17,730 | +36.2% |
| Taxes, remuneration and social security | 45 | €30,699 | €20,394 | -€10,304 | -33.6% |
| Taxes | 450/3 | €29,419 | €19,809 | -€9,611 | -32.7% |
| Remuneration and social security | 454/9 | €1,279 | €586 | -€694 | -54.2% |
| Other amounts payable | 47/48 | €95,962 | - | -€95,962 | |
| Remuneration, social security and pensions | 62 | €15,287 | €13,239 | -€2,049 | -13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,605 | €23,613 | -€992 | -4.0% |
| Other operating charges | 640/8 | €1,827 | €1,848 | +€21 | +1.1% |
| Gross operating margin | 9900 | €187,945 | €7,552 | -€180,393 | -96.0% |
| Operating profit (loss) | 9901 | €146,225 | -€31,148 | -€177,373 | |
| Financial income | 75/76B | €6,013 | €8,600 | +€2,586 | +43.0% |
| Recurring financial income | 75 | €6,013 | €8,600 | +€2,586 | +43.0% |
| Financial charges | 65/66B | €2,500 | €1,821 | -€678 | -27.1% |
| Recurring financial charges | 65 | €2,500 | €1,821 | -€678 | -27.1% |
| Profit (loss) for the period before taxes | 9903 | €149,739 | -€24,369 | -€174,108 | |
| Income taxes | 67/77 | €44,013 | €277 | -€43,736 | -99.4% |
| Profit (loss) for the period | 9904 | €105,726 | -€24,646 | -€130,372 | |
| Profit (loss) for the period to be appropriated | 9905 | €105,726 | -€24,646 | -€130,372 |
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 15 October 2026 via checked.be.