DENNIS: what changed
Two fiscal 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.
DENNIS
Largest movements
- Tangible fixed assets -€30,858
down €30,858 (-8.1%), from €380,795 to €349,937
of which Land and buildings: -€19,973
- Cash -€15,391
down €15,391 (-11.9%), from €129,881 to €114,490
mainly Other debts (-€90,642) and Debts after one year (-€10,784)
- Other debts -€90,642
down €90,642 (-51.7%), from €175,445 to €84,804
- Profit (loss) carried forward +€53,981
up €53,981 (+14.5%), from -€372,014 to -€318,032
- Debts after one year -€10,784
down €10,784 (-53.8%), from €20,050 to €9,266
- Gross operating margin +€2,816
up €2,816 (+2.7%), from €104,989 to €107,805
- Depreciation -€2,185
down €2,185 (-5.5%), from €39,449 to €37,264
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.
Cash bridge derived
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 | €513,775 | €467,490 | -€46,285 | -9.0% |
| Fixed assets | 21/28 | €380,795 | €349,937 | -€30,858 | -8.1% |
| Tangible fixed assets | 22/27 | €380,795 | €349,937 | -€30,858 | -8.1% |
| Land and buildings | 22 | €350,139 | €330,166 | -€19,973 | -5.7% |
| Furniture and vehicles | 24 | €30,656 | €19,771 | -€10,885 | -35.5% |
| Current assets | 29/58 | €132,980 | €117,553 | -€15,427 | -11.6% |
| Cash at bank and in hand | 54/58 | €129,881 | €114,490 | -€15,391 | -11.9% |
| Deferred charges and accrued income | 490/1 | €3,099 | €3,063 | -€36 | -1.2% |
| Total equity and liabilities | 10/49 | €513,775 | €467,490 | -€46,285 | -9.0% |
| Equity | 10/15 | €305,618 | €359,599 | +€53,981 | +17.7% |
| Contributions | 10/11 | €677,631 | €677,631 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€372,014 | -€318,032 | +€53,981 | +14.5% |
| Amounts payable | 17/49 | €208,158 | €107,891 | -€100,266 | -48.2% |
| Amounts payable after more than one year | 17 | €20,050 | €9,266 | -€10,784 | -53.8% |
| Financial debts | 170/4 | €20,050 | €9,266 | -€10,784 | -53.8% |
| Amounts payable within one year | 42/48 | €188,108 | €98,625 | -€89,482 | -47.6% |
| Current portion of amounts payable after more than one year | 42 | €10,429 | €10,784 | +€354 | +3.4% |
| Trade debts | 44 | €436 | €1,394 | +€958 | +219.8% |
| Suppliers | 440/4 | €436 | €1,394 | +€958 | +219.8% |
| Taxes, remuneration and social security | 45 | €1,797 | €1,644 | -€153 | -8.5% |
| Taxes | 450/3 | €1,797 | €1,644 | -€153 | -8.5% |
| Other amounts payable | 47/48 | €175,445 | €84,804 | -€90,642 | -51.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,449 | €37,264 | -€2,185 | -5.5% |
| Other operating charges | 640/8 | €14,758 | €15,171 | +€413 | +2.8% |
| Gross operating margin | 9900 | €104,989 | €107,805 | +€2,816 | +2.7% |
| Operating profit (loss) | 9901 | €50,782 | €55,370 | +€4,588 | +9.0% |
| Financial income | 75/76B | €104 | €489 | +€384 | +368.3% |
| Recurring financial income | 75 | €104 | €489 | +€384 | +368.3% |
| Financial charges | 65/66B | €1,351 | €974 | -€377 | -27.9% |
| Recurring financial charges | 65 | €1,351 | €974 | -€377 | -27.9% |
| Profit (loss) for the period before taxes | 9903 | €49,536 | €54,885 | +€5,350 | +10.8% |
| Income taxes | 67/77 | €918 | €904 | -€14 | -1.6% |
| Profit (loss) for the period | 9904 | €48,617 | €53,981 | +€5,364 | +11.0% |
| Profit (loss) for the period to be appropriated | 9905 | €48,617 | €53,981 | +€5,364 | +11.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.