DENOEL CONSULTING: what changed
What changed
DENOEL CONSULTING
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€9,398
2024 · €55,322-€45,925
Equity
€60,608
2024 · €51,211+€9,398
Cash
€13,093
2024 · €4,631+€8,462
Balance sheet total
€1.1m
2024 · €1.1m-€4,883
Largest movements
Assets
- Tangible fixed assets -€51,031
down €51,031 (-4.9%), from €1.1m to €999,981
of which Land and buildings: -€41,831
- Receivables within one year +€38,851
up €38,851 (+467%), from €8,321 to €47,172
of which Other amounts receivable: +€23,586
Equity and liabilities
- Debts after one year -€29,847
down €29,847 (-3.3%), from €892,536 to €862,688
- Current portion of long-term debt +€12,017
up €12,017 (+35.9%), from €33,462 to €45,478
Income statement
- Depreciation +€42,710
up €42,710 (+109%), from €39,031 to €81,741
- Gross operating margin +€21,268
up €21,268 (+16.4%), from €129,570 to €150,838
- Other operating charges +€13,295
up €13,295 (+367%), from €3,627 to €16,922
- Financial charges +€11,105
up €11,105 (+38.5%), from €28,845 to €39,950
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€55,322
Gross operating margin
+€21,268
Depreciation
-€42,710
Other operating charges
-€13,295
Financial income
-€25
Financial charges
-€11,105
Taxes
-€57
Result 2025
€9,398
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€57,003
Investment
-€30,710
Financing
-€17,831
Cash 2024
€4,631
From operations (derived)
+€57,003
Net result for the year
+€9,398
Depreciation
+€81,741
Receivables within one year
-€38,851
Deferred charges and accrued income
+€1,166
Trade debts
-€7,051
Tax, wage and social debts
+€8,470
Other debts
+€2,131
Investment (derived)
-€30,710
Investment in fixed assets (net)
-€30,710
Financing
-€17,831
Debts after one year
-€29,847
Current portion of long-term debt
+€12,017
Cash 2025
€13,093
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,070,092 | €1,065,209 | -€4,883 | -0.5% |
| Fixed assets | 21/28 | €1,051,042 | €1,000,012 | -€51,031 | -4.9% |
| Tangible fixed assets | 22/27 | €1,051,012 | €999,981 | -€51,031 | -4.9% |
| Land and buildings | 22 | €1,005,816 | €963,985 | -€41,831 | -4.2% |
| Furniture and vehicles | 24 | €45,196 | €35,996 | -€9,200 | -20.4% |
| Financial fixed assets | 28 | €31 | €31 | = | 0.0% |
| Current assets | 29/58 | €19,050 | €65,197 | +€46,148 | +242% |
| Amounts receivable within one year | 40/41 | €8,321 | €47,172 | +€38,851 | +467% |
| Trade receivables | 40 | €1,509 | €16,775 | +€15,265 | +1,011% |
| Other amounts receivable | 41 | €6,812 | €30,398 | +€23,586 | +346% |
| Cash at bank and in hand | 54/58 | €4,631 | €13,093 | +€8,462 | +183% |
| Deferred charges and accrued income | 490/1 | €6,098 | €4,932 | -€1,166 | -19.1% |
| Total equity and liabilities | 10/49 | €1,070,092 | €1,065,209 | -€4,883 | -0.5% |
| Equity | 10/15 | €51,211 | €60,608 | +€9,398 | +18.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,211 | €40,608 | +€9,398 | +30.1% |
| Amounts payable | 17/49 | €1,018,881 | €1,004,600 | -€14,281 | -1.4% |
| Amounts payable after more than one year | 17 | €892,536 | €862,688 | -€29,847 | -3.3% |
| Financial debts | 170/4 | €892,536 | €862,688 | -€29,847 | -3.3% |
| Amounts payable within one year | 42/48 | €126,345 | €141,912 | +€15,567 | +12.3% |
| Current portion of amounts payable after more than one year | 42 | €33,462 | €45,478 | +€12,017 | +35.9% |
| Trade debts | 44 | €9,960 | €2,910 | -€7,051 | -70.8% |
| Suppliers | 440/4 | €9,960 | €2,910 | -€7,051 | -70.8% |
| Taxes, remuneration and social security | 45 | €708 | €9,178 | +€8,470 | +1,196% |
| Taxes | 450/3 | €708 | €9,178 | +€8,470 | +1,196% |
| Other amounts payable | 47/48 | €82,215 | €84,346 | +€2,131 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,031 | €81,741 | +€42,710 | +109% |
| Other operating charges | 640/8 | €3,627 | €16,922 | +€13,295 | +367% |
| Gross operating margin | 9900 | €129,570 | €150,838 | +€21,268 | +16.4% |
| Operating profit (loss) | 9901 | €86,912 | €52,175 | -€34,737 | -40.0% |
| Financial income | 75/76B | €25 | - | -€25 | |
| Recurring financial income | 75 | €25 | - | -€25 | |
| Financial charges | 65/66B | €28,845 | €39,950 | +€11,105 | +38.5% |
| Recurring financial charges | 65 | €28,845 | €39,950 | +€11,105 | +38.5% |
| Profit (loss) for the period before taxes | 9903 | €58,092 | €12,225 | -€45,867 | -79.0% |
| Income taxes | 67/77 | €2,770 | €2,828 | +€57 | +2.1% |
| Profit (loss) for the period | 9904 | €55,322 | €9,398 | -€45,925 | -83.0% |
| Profit (loss) for the period to be appropriated | 9905 | €55,322 | €9,398 | -€45,925 | -83.0% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.