DENKMAL 15: 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.
DENKMAL 15
Largest movements
- Receivables within one year -€160,407
down €160,407 (-53.0%), from €302,460 to €142,052
of which Trade receivables: -€212,525
- Receivables after one year -€29,938
down €29,938 (-7.3%), from €408,829 to €378,890
- Cash +€20,366
up €20,366 (+92.3%), from €22,072 to €42,438
mainly Receivables within one year (+€160,407) and Receivables after one year (+€29,938)
- Tangible fixed assets -€18,413
down €18,413 (-9.0%), from €205,277 to €186,864
of which Furniture and vehicles: -€17,097
- Reserves -€199,735
down €199,735 (-35.5%), from €562,682 to €362,947
of which Distributable reserves: -€194,656
- Debts after one year +€20,000
up €20,000 (+21.1%), from €95,000 to €115,000
- Financial charges +€234,181
up €234,181 (+3,159%), from €7,414 to €241,595
- Gross operating margin +€97,395
up €97,395, from -€30,505 to €66,890
- Other operating charges -€8,561
down €8,561 (-63.2%), from €13,549 to €4,989
- Write-downs +€6,000
no longer reported in 2025 (was -€6,000)
- Financial income -€3,720
down €3,720 (-50.9%), from €7,306 to €3,587
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 | €953,197 | €764,600 | -€188,598 | -19.8% |
| Fixed assets | 21/28 | €211,448 | €193,035 | -€18,413 | -8.7% |
| Tangible fixed assets | 22/27 | €205,277 | €186,864 | -€18,413 | -9.0% |
| Plant, machinery and equipment | 23 | €11,195 | €12,431 | +€1,236 | +11.0% |
| Furniture and vehicles | 24 | €169,863 | €152,766 | -€17,097 | -10.1% |
| Other tangible fixed assets | 26 | €24,220 | €21,667 | -€2,553 | -10.5% |
| Financial fixed assets | 28 | €6,170 | €6,170 | = | 0.0% |
| Current assets | 29/58 | €741,750 | €571,565 | -€170,185 | -22.9% |
| Amounts receivable after more than one year | 29 | €408,829 | €378,890 | -€29,938 | -7.3% |
| Trade receivables | 290 | €408,829 | €378,890 | -€29,938 | -7.3% |
| Amounts receivable within one year | 40/41 | €302,460 | €142,052 | -€160,407 | -53.0% |
| Trade receivables | 40 | €269,806 | €57,282 | -€212,525 | -78.8% |
| Other amounts receivable | 41 | €32,653 | €84,771 | +€52,117 | +160% |
| Cash at bank and in hand | 54/58 | €22,072 | €42,438 | +€20,366 | +92.3% |
| Deferred charges and accrued income | 490/1 | €8,390 | €8,184 | -€205 | -2.4% |
| Total equity and liabilities | 10/49 | €953,197 | €764,600 | -€188,598 | -19.8% |
| Equity | 10/15 | €764,682 | €564,947 | -€199,735 | -26.1% |
| Contributions | 10/11 | €202,000 | €202,000 | = | 0.0% |
| Capital | 10 | €202,000 | €202,000 | = | 0.0% |
| Issued capital | 100 | €202,000 | €202,000 | = | 0.0% |
| Reserves | 13 | €562,682 | €362,947 | -€199,735 | -35.5% |
| Non-distributable reserves | 130/1 | €20,200 | €20,200 | = | 0.0% |
| Legal reserve | 130 | €20,200 | €20,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €84,446 | €79,367 | -€5,079 | -6.0% |
| Distributable reserves | 133 | €458,036 | €263,380 | -€194,656 | -42.5% |
| Provisions and deferred taxes | 16 | €2,362 | €1,092 | -€1,270 | -53.8% |
| Deferred taxes | 168 | €2,362 | €1,092 | -€1,270 | -53.8% |
| Amounts payable | 17/49 | €186,154 | €198,561 | +€12,407 | +6.7% |
| Amounts payable after more than one year | 17 | €95,000 | €115,000 | +€20,000 | +21.1% |
| Financial debts | 170/4 | €95,000 | €115,000 | +€20,000 | +21.1% |
| Amounts payable within one year | 42/48 | €86,504 | €79,015 | -€7,489 | -8.7% |
| Trade debts | 44 | €62,609 | €63,203 | +€594 | +0.9% |
| Suppliers | 440/4 | €62,609 | €63,203 | +€594 | +0.9% |
| Taxes, remuneration and social security | 45 | €23,895 | €15,812 | -€8,083 | -33.8% |
| Taxes | 450/3 | €23,895 | €15,812 | -€8,083 | -33.8% |
| Accrued charges and deferred income | 492/3 | €4,650 | €4,547 | -€104 | -2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,964 | €24,755 | -€208 | -0.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€6,000 | - | +€6,000 | |
| Other operating charges | 640/8 | €13,549 | €4,989 | -€8,561 | -63.2% |
| Non-recurring operating charges | 66A | €2,096 | - | -€2,096 | |
| Gross operating margin | 9900 | -€30,505 | €66,890 | +€97,395 | |
| Operating profit (loss) | 9901 | -€65,113 | €37,146 | +€102,260 | |
| Financial income | 75/76B | €7,306 | €3,587 | -€3,720 | -50.9% |
| Recurring financial income | 75 | €7,306 | €3,587 | -€3,720 | -50.9% |
| Financial charges | 65/66B | €7,414 | €241,595 | +€234,181 | +3,159% |
| Recurring financial charges | 65 | €7,414 | €241,595 | +€234,181 | +3,159% |
| Profit (loss) for the period before taxes | 9903 | -€65,221 | -€200,862 | -€135,641 | -208% |
| Transfer from deferred taxes | 780 | €1,299 | €1,270 | -€30 | -2.3% |
| Income taxes | 67/77 | €177 | €143 | -€34 | -19.2% |
| Profit (loss) for the period | 9904 | -€64,098 | -€199,735 | -€135,637 | -212% |
| Transfer from tax-exempt reserves | 789 | €5,198 | €5,079 | -€119 | -2.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€58,900 | -€194,656 | -€135,756 | -230% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.