DENNIS BEEL: 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.
DENNIS BEEL
Largest movements
- Current investments -€915,386
down €915,386 (-92.7%), from €987,739 to €72,353
- Cash +€398,613
up €398,613 (+1,602%), from €24,874 to €423,488
mainly Current investments (+€915,386) and Net result for the year (+€590,354)
- Receivables within one year +€293,576
up €293,576 (+117%), from €250,244 to €543,821
of which Trade receivables: +€287,585
- Tangible fixed assets +€50,761
up €50,761 (+10.4%), from €488,884 to €539,645
of which Furniture and vehicles: +€63,175
- Other debts -€910,324
down €910,324 (-72.1%), from €1.3m to €351,999
- Reserves +€590,354
up €590,354 (+79.2%), from €745,774 to €1.3m
of which Distributable reserves: +€590,354
- Trade debts +€94,339
up €94,339 (+1,719%), from €5,487 to €99,826
- Tax, wage and social debts +€52,572
up €52,572 (+85.6%), from €61,427 to €113,999
of which Taxes: +€57,761
- Financial income +€74,266
up €74,266 (+368%), from €20,169 to €94,435
- Depreciation -€18,589
down €18,589 (-29.4%), from €63,269 to €44,680
- Gross operating margin -€10,321
down €10,321 (-1.4%), from €727,102 to €716,781
- Financial charges +€10,194
up €10,194, from -€9,723 to €471
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 | €2,095,907 | €1,922,278 | -€173,629 | -8.3% |
| Fixed assets | 21/28 | €488,884 | €539,645 | +€50,761 | +10.4% |
| Tangible fixed assets | 22/27 | €488,884 | €539,645 | +€50,761 | +10.4% |
| Land and buildings | 22 | €408,683 | €393,715 | -€14,968 | -3.7% |
| Furniture and vehicles | 24 | €67,963 | €131,138 | +€63,175 | +93.0% |
| Other tangible fixed assets | 26 | €12,237 | €14,792 | +€2,555 | +20.9% |
| Current assets | 29/58 | €1,607,024 | €1,382,633 | -€224,390 | -14.0% |
| Amounts receivable after more than one year | 29 | €190,000 | €190,000 | = | 0.0% |
| Other amounts receivable | 291 | €190,000 | €190,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €250,244 | €543,821 | +€293,576 | +117% |
| Trade receivables | 40 | €114,073 | €401,657 | +€287,585 | +252% |
| Other amounts receivable | 41 | €136,172 | €142,163 | +€5,992 | +4.4% |
| Current investments | 50/53 | €987,739 | €72,353 | -€915,386 | -92.7% |
| Cash at bank and in hand | 54/58 | €24,874 | €423,488 | +€398,613 | +1,602% |
| Deferred charges and accrued income | 490/1 | €154,166 | €152,972 | -€1,194 | -0.8% |
| Total equity and liabilities | 10/49 | €2,095,907 | €1,922,278 | -€173,629 | -8.3% |
| Equity | 10/15 | €764,324 | €1,354,679 | +€590,354 | +77.2% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €745,774 | €1,336,129 | +€590,354 | +79.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Other | 1319 | €0 | - | = | |
| Tax-exempt reserves | 132 | €42,100 | €42,100 | = | 0.0% |
| Distributable reserves | 133 | €703,674 | €1,294,029 | +€590,354 | +83.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €1,331,583 | €567,599 | -€763,984 | -57.4% |
| Amounts payable within one year | 42/48 | €1,329,236 | €565,824 | -€763,412 | -57.4% |
| Trade debts | 44 | €5,487 | €99,826 | +€94,339 | +1,719% |
| Suppliers | 440/4 | €5,487 | €99,826 | +€94,339 | +1,719% |
| Taxes, remuneration and social security | 45 | €61,427 | €113,999 | +€52,572 | +85.6% |
| Taxes | 450/3 | €56,238 | €113,999 | +€57,761 | +103% |
| Remuneration and social security | 454/9 | €5,189 | €0 | -€5,189 | -100% |
| Other amounts payable | 47/48 | €1,262,323 | €351,999 | -€910,324 | -72.1% |
| Accrued charges and deferred income | 492/3 | €2,347 | €1,775 | -€571 | -24.3% |
| Non-recurring operating income | 76A | - | €19,969 | +€19,969 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,269 | €44,680 | -€18,589 | -29.4% |
| Other operating charges | 640/8 | €8,617 | €4,285 | -€4,332 | -50.3% |
| Gross operating margin | 9900 | €727,102 | €716,781 | -€10,321 | -1.4% |
| Operating profit (loss) | 9901 | €655,216 | €667,815 | +€12,600 | +1.9% |
| Financial income | 75/76B | €20,169 | €94,435 | +€74,266 | +368% |
| Recurring financial income | 75 | €20,169 | €94,435 | +€74,266 | +368% |
| Financial charges | 65/66B | -€9,723 | €471 | +€10,194 | |
| Recurring financial charges | 65 | -€9,723 | €471 | +€10,194 | |
| Profit (loss) for the period before taxes | 9903 | €685,107 | €761,780 | +€76,672 | +11.2% |
| Income taxes | 67/77 | €178,606 | €171,425 | -€7,181 | -4.0% |
| Profit (loss) for the period | 9904 | €506,502 | €590,354 | +€83,853 | +16.6% |
| Transfer to tax-exempt reserves | 689 | €42,100 | €0 | -€42,100 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €464,402 | €590,354 | +€125,953 | +27.1% |
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 25 October 2026 via checked.be.