Dennis Joos: 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 Joos
Largest movements
- Stocks and contracts -€320,108
down €320,108 (-99.6%), from €321,308 to €1,200
- Receivables within one year -€91,465
down €91,465 (-70.3%), from €130,040 to €38,574
of which Trade receivables: -€60,998
- Deferred charges and accrued income +€10,134
up €10,134 (+2,941%), from €345 to €10,479
- Short-term financial debts -€165,041
no longer reported in 2025 (was €165,041)
- Other debts -€143,659
no longer reported in 2025 (was €143,659)
- Profit (loss) carried forward -€59,152
down €59,152, from €11,084 to -€48,068
- Trade debts -€31,172
down €31,172 (-50.9%), from €61,276 to €30,105
- Gross operating margin -€113,566
down €113,566 (-76.1%), from €149,241 to €35,675
- Other operating charges +€25,984
up €25,984 (+1,445%), from €1,798 to €27,783
- Taxes -€21,528
no longer reported in 2025 (was €21,528)
- Staff costs +€19,457
up €19,457 (+45.0%), from €43,215 to €62,672
- Financial charges -€4,900
down €4,900 (-44.5%), from €11,008 to €6,108
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 | €471,493 | €67,260 | -€404,233 | -85.7% |
| Fixed assets | 21/28 | €1,209 | €2,048 | +€839 | +69.4% |
| Tangible fixed assets | 22/27 | €1,209 | €2,048 | +€839 | +69.4% |
| Plant, machinery and equipment | 23 | €1,174 | €1,371 | +€197 | +16.8% |
| Furniture and vehicles | 24 | €35 | €677 | +€642 | +1,845% |
| Current assets | 29/58 | €470,284 | €65,212 | -€405,072 | -86.1% |
| Stocks and contracts in progress | 3 | €321,308 | €1,200 | -€320,108 | -99.6% |
| Stocks | 30/36 | €321,308 | €1,200 | -€320,108 | -99.6% |
| Amounts receivable within one year | 40/41 | €130,040 | €38,574 | -€91,465 | -70.3% |
| Trade receivables | 40 | €93,137 | €32,138 | -€60,998 | -65.5% |
| Other amounts receivable | 41 | €36,903 | €6,436 | -€30,467 | -82.6% |
| Cash at bank and in hand | 54/58 | €18,591 | €14,959 | -€3,633 | -19.5% |
| Deferred charges and accrued income | 490/1 | €345 | €10,479 | +€10,134 | +2,941% |
| Total equity and liabilities | 10/49 | €471,493 | €67,260 | -€404,233 | -85.7% |
| Equity | 10/15 | €68,948 | €9,795 | -€59,152 | -85.8% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €45,364 | €45,364 | = | 0.0% |
| Distributable reserves | 133 | €45,364 | €45,364 | = | 0.0% |
| Profit (loss) carried forward | 14 | €11,084 | -€48,068 | -€59,152 | |
| Amounts payable | 17/49 | €402,545 | €57,464 | -€345,081 | -85.7% |
| Amounts payable within one year | 42/48 | €401,608 | €57,325 | -€344,284 | -85.7% |
| Financial debts | 43 | €165,041 | - | -€165,041 | |
| Credit institutions | 430/8 | €165,041 | - | -€165,041 | |
| Trade debts | 44 | €61,276 | €30,105 | -€31,172 | -50.9% |
| Suppliers | 440/4 | €61,276 | €30,105 | -€31,172 | -50.9% |
| Taxes, remuneration and social security | 45 | €31,633 | €27,220 | -€4,413 | -13.9% |
| Taxes | 450/3 | €23,277 | €15,594 | -€7,683 | -33.0% |
| Remuneration and social security | 454/9 | €8,356 | €11,626 | +€3,270 | +39.1% |
| Other amounts payable | 47/48 | €143,659 | - | -€143,659 | |
| Accrued charges and deferred income | 492/3 | €936 | €139 | -€797 | -85.1% |
| Remuneration, social security and pensions | 62 | €43,215 | €62,672 | +€19,457 | +45.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,474 | €659 | -€2,815 | -81.0% |
| Other operating charges | 640/8 | €1,798 | €27,783 | +€25,984 | +1,445% |
| Gross operating margin | 9900 | €149,241 | €35,675 | -€113,566 | -76.1% |
| Operating profit (loss) | 9901 | €100,753 | -€55,439 | -€156,192 | |
| Financial income | 75/76B | €1,878 | €2,395 | +€516 | +27.5% |
| Recurring financial income | 75 | €1,878 | €2,395 | +€516 | +27.5% |
| Financial charges | 65/66B | €11,008 | €6,108 | -€4,900 | -44.5% |
| Recurring financial charges | 65 | €11,008 | €6,108 | -€4,900 | -44.5% |
| Profit (loss) for the period before taxes | 9903 | €91,624 | -€59,152 | -€150,776 | |
| Income taxes | 67/77 | €21,528 | - | -€21,528 | |
| Profit (loss) for the period | 9904 | €70,096 | -€59,152 | -€129,248 | |
| Profit (loss) for the period to be appropriated | 9905 | €70,096 | -€59,152 | -€129,248 |
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 27 October 2026 via checked.be.