DENLADEM: 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.
DENLADEM
Largest movements
- Cash +€81,189
up €81,189 (+49.9%), from €162,789 to €243,978
mainly Net result for the year (+€99,090) and Other debts (+€55,879)
- Receivables within one year -€22,768
down €22,768 (-45.9%), from €49,656 to €26,888
of which Other amounts receivable: -€27,789
- Tangible fixed assets -€18,843
down €18,843 (-10.4%), from €182,042 to €163,199
of which Furniture and vehicles: -€13,750
- Stocks and contracts +€7,624
up €7,624 (+11.3%), from €67,284 to €74,908
- Other debts +€55,879
up €55,879 (+133%), from €41,992 to €97,871
- Current portion of long-term debt -€17,808
down €17,808 (-77.9%), from €22,871 to €5,062
- Tax, wage and social debts +€6,676
up €6,676 (+17.3%), from €38,511 to €45,188
of which Remuneration and social security: +€5,942
- Gross operating margin +€132,467
up €132,467 (+45.7%), from €290,146 to €422,614
- Staff costs +€44,101
up €44,101 (+25.1%), from €175,590 to €219,691
- Taxes +€30,481
up €30,481 (+193%), from €15,772 to €46,252
- Depreciation -€12,259
down €12,259 (-18.8%), from €65,159 to €52,900
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 | €468,993 | €514,203 | +€45,210 | +9.6% |
| Fixed assets | 21/28 | €182,292 | €163,449 | -€18,843 | -10.3% |
| Tangible fixed assets | 22/27 | €182,042 | €163,199 | -€18,843 | -10.4% |
| Plant, machinery and equipment | 23 | €162,759 | €157,666 | -€5,093 | -3.1% |
| Furniture and vehicles | 24 | €19,283 | €5,533 | -€13,750 | -71.3% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €286,701 | €350,754 | +€64,053 | +22.3% |
| Stocks and contracts in progress | 3 | €67,284 | €74,908 | +€7,624 | +11.3% |
| Stocks | 30/36 | €67,284 | €74,908 | +€7,624 | +11.3% |
| Amounts receivable within one year | 40/41 | €49,656 | €26,888 | -€22,768 | -45.9% |
| Trade receivables | 40 | €1,866 | €6,888 | +€5,021 | +269% |
| Other amounts receivable | 41 | €47,789 | €20,000 | -€27,789 | -58.1% |
| Cash at bank and in hand | 54/58 | €162,789 | €243,978 | +€81,189 | +49.9% |
| Deferred charges and accrued income | 490/1 | €6,973 | €4,981 | -€1,992 | -28.6% |
| Total equity and liabilities | 10/49 | €468,993 | €514,203 | +€45,210 | +9.6% |
| Equity | 10/15 | €316,766 | €315,856 | -€910 | -0.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €295,000 | €290,000 | -€5,000 | -1.7% |
| Distributable reserves | 133 | €295,000 | €290,000 | -€5,000 | -1.7% |
| Profit (loss) carried forward | 14 | €1,766 | €5,856 | +€4,090 | +232% |
| Amounts payable | 17/49 | €152,227 | €198,347 | +€46,120 | +30.3% |
| Amounts payable within one year | 42/48 | €152,227 | €198,347 | +€46,120 | +30.3% |
| Current portion of amounts payable after more than one year | 42 | €22,871 | €5,062 | -€17,808 | -77.9% |
| Financial debts | 43 | €284 | - | -€284 | |
| Credit institutions | 430/8 | €284 | - | -€284 | |
| Trade debts | 44 | €48,569 | €50,225 | +€1,657 | +3.4% |
| Suppliers | 440/4 | €48,569 | €50,225 | +€1,657 | +3.4% |
| Taxes, remuneration and social security | 45 | €38,511 | €45,188 | +€6,676 | +17.3% |
| Taxes | 450/3 | €13,952 | €14,686 | +€734 | +5.3% |
| Remuneration and social security | 454/9 | €24,560 | €30,502 | +€5,942 | +24.2% |
| Other amounts payable | 47/48 | €41,992 | €97,871 | +€55,879 | +133% |
| Remuneration, social security and pensions | 62 | €175,590 | €219,691 | +€44,101 | +25.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,159 | €52,900 | -€12,259 | -18.8% |
| Other operating charges | 640/8 | €1,801 | €1,543 | -€258 | -14.3% |
| Gross operating margin | 9900 | €290,146 | €422,614 | +€132,467 | +45.7% |
| Operating profit (loss) | 9901 | €47,596 | €148,479 | +€100,883 | +212% |
| Financial income | 75/76B | €1,668 | €1,588 | -€80 | -4.8% |
| Recurring financial income | 75 | €1,668 | €1,588 | -€80 | -4.8% |
| Financial charges | 65/66B | €3,536 | €4,725 | +€1,188 | +33.6% |
| Recurring financial charges | 65 | €3,536 | €4,725 | +€1,188 | +33.6% |
| Profit (loss) for the period before taxes | 9903 | €45,728 | €145,343 | +€99,614 | +218% |
| Income taxes | 67/77 | €15,772 | €46,252 | +€30,481 | +193% |
| Profit (loss) for the period | 9904 | €29,957 | €99,090 | +€69,133 | +231% |
| Profit (loss) for the period to be appropriated | 9905 | €29,957 | €99,090 | +€69,133 | +231% |
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.