DENNY: 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.
DENNY
Largest movements
- Tangible fixed assets -€60,727
down €60,727 (-24.4%), from €249,137 to €188,410
of which Other tangible fixed assets: -€45,944
- Receivables within one year +€46,259
up €46,259 (+72.5%), from €63,802 to €110,061
of which Other amounts receivable: +€60,080
- Stocks and contracts -€26,196
down €26,196 (-10.2%), from €257,590 to €231,394
- Cash +€14,084
up €14,084 (+123%), from €11,408 to €25,492
mainly Trade debts (+€260,864) and Depreciation (+€75,219)
- Trade debts +€260,864
up €260,864 (+63.4%), from €411,214 to €672,078
- Profit (loss) carried forward -€235,962
down €235,962 (-116%), from -€203,628 to -€439,590
- Current portion of long-term debt -€40,606
down €40,606 (-57.4%), from €70,745 to €30,139
- Debts after one year -€30,139
down €30,139 (-57.2%), from €52,651 to €22,512
- Short-term financial debts +€18,393
up €18,393 (+14.7%), from €125,000 to €143,393
- Financial charges +€189,202
up €189,202 (+562%), from €33,637 to €222,839
of which Non-recurring financial charges: +€191,991
- Staff costs -€106,631
down €106,631 (-21.7%), from €492,386 to €385,754
- Gross operating margin -€34,783
down €34,783 (-7.0%), from €499,803 to €465,020
- Other operating charges -€11,602
down €11,602 (-40.7%), from €28,522 to €16,920
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 | €621,838 | €597,722 | -€24,116 | -3.9% |
| Fixed assets | 21/28 | €276,448 | €219,106 | -€57,342 | -20.7% |
| Intangible fixed assets | 21 | €2,957 | €1,145 | -€1,812 | -61.3% |
| Tangible fixed assets | 22/27 | €249,137 | €188,410 | -€60,727 | -24.4% |
| Plant, machinery and equipment | 23 | €9,873 | €4,047 | -€5,826 | -59.0% |
| Furniture and vehicles | 24 | €13,816 | €19,255 | +€5,439 | +39.4% |
| Leasing and similar rights | 25 | €49,894 | €35,497 | -€14,396 | -28.9% |
| Other tangible fixed assets | 26 | €175,555 | €129,611 | -€45,944 | -26.2% |
| Financial fixed assets | 28 | €24,354 | €29,552 | +€5,198 | +21.3% |
| Current assets | 29/58 | €345,390 | €378,616 | +€33,226 | +9.6% |
| Stocks and contracts in progress | 3 | €257,590 | €231,394 | -€26,196 | -10.2% |
| Stocks | 30/36 | €257,590 | €231,394 | -€26,196 | -10.2% |
| Amounts receivable within one year | 40/41 | €63,802 | €110,061 | +€46,259 | +72.5% |
| Trade receivables | 40 | €38,888 | €25,066 | -€13,822 | -35.5% |
| Other amounts receivable | 41 | €24,915 | €84,995 | +€60,080 | +241% |
| Cash at bank and in hand | 54/58 | €11,408 | €25,492 | +€14,084 | +123% |
| Deferred charges and accrued income | 490/1 | €12,591 | €11,670 | -€921 | -7.3% |
| Total equity and liabilities | 10/49 | €621,838 | €597,722 | -€24,116 | -3.9% |
| Equity | 10/15 | -€133,160 | -€369,122 | -€235,962 | -177% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €51,868 | €51,868 | = | 0.0% |
| Distributable reserves | 133 | €51,868 | €51,868 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€203,628 | -€439,590 | -€235,962 | -116% |
| Amounts payable | 17/49 | €754,998 | €966,844 | +€211,846 | +28.1% |
| Amounts payable after more than one year | 17 | €52,651 | €22,512 | -€30,139 | -57.2% |
| Financial debts | 170/4 | €52,651 | €22,512 | -€30,139 | -57.2% |
| Amounts payable within one year | 42/48 | €691,865 | €944,332 | +€252,468 | +36.5% |
| Current portion of amounts payable after more than one year | 42 | €70,745 | €30,139 | -€40,606 | -57.4% |
| Financial debts | 43 | €125,000 | €143,393 | +€18,393 | +14.7% |
| Credit institutions | 430/8 | €125,000 | €143,393 | +€18,393 | +14.7% |
| Trade debts | 44 | €411,214 | €672,078 | +€260,864 | +63.4% |
| Suppliers | 440/4 | €411,214 | €672,078 | +€260,864 | +63.4% |
| Taxes, remuneration and social security | 45 | €72,553 | €89,509 | +€16,956 | +23.4% |
| Taxes | 450/3 | €34,237 | €32,577 | -€1,660 | -4.8% |
| Remuneration and social security | 454/9 | €38,316 | €56,932 | +€18,616 | +48.6% |
| Other amounts payable | 47/48 | €12,353 | €9,214 | -€3,139 | -25.4% |
| Accrued charges and deferred income | 492/3 | €10,483 | €0 | -€10,483 | -100% |
| Non-recurring operating income | 76A | - | €17,399 | +€17,399 | |
| Remuneration, social security and pensions | 62 | €492,386 | €385,754 | -€106,631 | -21.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,725 | €75,219 | -€4,506 | -5.7% |
| Other operating charges | 640/8 | €28,522 | €16,920 | -€11,602 | -40.7% |
| Gross operating margin | 9900 | €499,803 | €465,020 | -€34,783 | -7.0% |
| Operating profit (loss) | 9901 | -€100,829 | -€12,873 | +€87,956 | +87.2% |
| Financial income | 75/76B | €231 | €347 | +€116 | +50.4% |
| Recurring financial income | 75 | €231 | €347 | +€116 | +50.4% |
| Financial charges | 65/66B | €33,637 | €222,839 | +€189,202 | +562% |
| Recurring financial charges | 65 | €33,637 | €30,849 | -€2,788 | -8.3% |
| Non-recurring financial charges | 66B | - | €191,991 | +€191,991 | |
| Profit (loss) for the period before taxes | 9903 | -€134,235 | -€235,365 | -€101,130 | -75.3% |
| Income taxes | 67/77 | €593 | €597 | +€4 | +0.6% |
| Profit (loss) for the period | 9904 | -€134,828 | -€235,962 | -€101,134 | -75.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€134,828 | -€235,962 | -€101,134 | -75.0% |
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.