DENOT: 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.
DENOT
Largest movements
- Current investments -€440,511
down €440,511 (-29.3%), from €1.5m to €1.1m
- Cash -€279,814
down €279,814 (-75.3%), from €371,609 to €91,795
mainly Other debts (-€385,500) and Tax, wage and social debts (-€340,140)
- Receivables within one year -€81,022
no longer reported in 2025 (was €81,022)
of which Other amounts receivable: -€73,031
- Other debts -€385,500
down €385,500 (-29.9%), from €1.3m to €904,839
- Tax, wage and social debts -€340,140
down €340,140 (-95.2%), from €357,219 to €17,080
- Debts after one year -€99,899
down €99,899 (-37.4%), from €266,867 to €166,968
- Gross operating margin -€1.9m
down €1.9m (-96.0%), from €1.9m to €78,147
- Taxes -€438,390
down €438,390 (-96.2%), from €455,489 to €17,099
- Staff costs -€146,767
no longer reported in 2025 (was €146,767)
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 | €2,045,398 | €1,214,303 | -€831,096 | -40.6% |
| Fixed assets | 21/28 | €78,042 | €59,975 | -€18,067 | -23.1% |
| Tangible fixed assets | 22/27 | €78,042 | €59,975 | -€18,067 | -23.1% |
| Land and buildings | 22 | €2,496 | €2,440 | -€56 | -2.3% |
| Plant, machinery and equipment | 23 | €4,800 | €3,659 | -€1,141 | -23.8% |
| Furniture and vehicles | 24 | €70,746 | €53,876 | -€16,870 | -23.8% |
| Current assets | 29/58 | €1,967,356 | €1,154,327 | -€813,029 | -41.3% |
| Amounts receivable within one year | 40/41 | €81,022 | - | -€81,022 | |
| Trade receivables | 40 | €7,991 | - | -€7,991 | |
| Other amounts receivable | 41 | €73,031 | - | -€73,031 | |
| Current investments | 50/53 | €1,502,308 | €1,061,797 | -€440,511 | -29.3% |
| Cash at bank and in hand | 54/58 | €371,609 | €91,795 | -€279,814 | -75.3% |
| Deferred charges and accrued income | 490/1 | €12,417 | €735 | -€11,683 | -94.1% |
| Total equity and liabilities | 10/49 | €2,045,398 | €1,214,303 | -€831,096 | -40.6% |
| Equity | 10/15 | €26,074 | €22,135 | -€3,939 | -15.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €6,074 | €2,135 | -€3,939 | -64.9% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €4,074 | €135 | -€3,939 | -96.7% |
| Amounts payable | 17/49 | €2,019,325 | €1,192,168 | -€827,157 | -41.0% |
| Amounts payable after more than one year | 17 | €266,867 | €166,968 | -€99,899 | -37.4% |
| Financial debts | 170/4 | €266,867 | €166,968 | -€99,899 | -37.4% |
| Amounts payable within one year | 42/48 | €1,748,947 | €1,025,032 | -€723,915 | -41.4% |
| Current portion of amounts payable after more than one year | 42 | €99,571 | €99,899 | +€328 | +0.3% |
| Trade debts | 44 | €1,817 | €3,214 | +€1,396 | +76.8% |
| Suppliers | 440/4 | €1,817 | €3,214 | +€1,396 | +76.8% |
| Taxes, remuneration and social security | 45 | €357,219 | €17,080 | -€340,140 | -95.2% |
| Taxes | 450/3 | €357,219 | €17,080 | -€340,140 | -95.2% |
| Other amounts payable | 47/48 | €1,290,339 | €904,839 | -€385,500 | -29.9% |
| Accrued charges and deferred income | 492/3 | €3,510 | €168 | -€3,342 | -95.2% |
| Non-recurring operating income | 76A | €1,485,440 | - | -€1.5m | |
| Remuneration, social security and pensions | 62 | €146,767 | - | -€146,767 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,851 | €18,067 | +€5,215 | +40.6% |
| Other operating charges | 640/8 | €11,222 | €4,500 | -€6,722 | -59.9% |
| Non-recurring operating charges | 66A | €32,625 | - | -€32,625 | |
| Gross operating margin | 9900 | €1,943,431 | €78,147 | -€1.9m | -96.0% |
| Operating profit (loss) | 9901 | €1,739,965 | €55,581 | -€1.7m | -96.8% |
| Financial income | 75/76B | €16,981 | €20,118 | +€3,137 | +18.5% |
| Recurring financial income | 75 | €16,981 | €20,118 | +€3,137 | +18.5% |
| Financial charges | 65/66B | €7,566 | €4,539 | -€3,027 | -40.0% |
| Recurring financial charges | 65 | €7,566 | €4,539 | -€3,027 | -40.0% |
| Profit (loss) for the period before taxes | 9903 | €1,749,381 | €71,160 | -€1.7m | -95.9% |
| Income taxes | 67/77 | €455,489 | €17,099 | -€438,390 | -96.2% |
| Profit (loss) for the period | 9904 | €1,293,892 | €54,061 | -€1.2m | -95.8% |
| Profit (loss) for the period to be appropriated | 9905 | €1,293,892 | €54,061 | -€1.2m | -95.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.