denotechnics: 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.
denotechnics
Largest movements
- Receivables within one year +€25,398
up €25,398 (+53.6%), from €47,355 to €72,753
of which Trade receivables: +€25,293
- Tangible fixed assets -€19,975
down €19,975 (-8.8%), from €227,537 to €207,562
of which Assets under construction and advance payments: -€187,369
- Stocks and contracts -€10,773
down €10,773 (-15.8%), from €68,388 to €57,615
of which Contracts in progress: -€11,370
- Cash -€9,902
down €9,902 (-71.2%), from €13,909 to €4,006
mainly Other debts (-€31,222) and Receivables within one year (-€25,398)
- Other debts -€31,222
down €31,222 (-52.4%), from €59,608 to €28,386
- Trade debts +€30,264
up €30,264 (+87.0%), from €34,769 to €65,033
- Debts after one year -€11,353
down €11,353 (-8.7%), from €130,250 to €118,897
- Tax, wage and social debts -€4,743
down €4,743 (-39.3%), from €12,081 to €7,338
- Gross operating margin -€11,476
down €11,476 (-27.6%), from €41,614 to €30,138
- Depreciation +€3,938
up €3,938 (+23.8%), from €16,577 to €20,515
- Taxes -€3,135
down €3,135 (-78.6%), from €3,989 to €854
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 | €359,823 | €344,135 | -€15,687 | -4.4% |
| Fixed assets | 21/28 | €228,476 | €207,961 | -€20,515 | -9.0% |
| Intangible fixed assets | 21 | €939 | €399 | -€540 | -57.5% |
| Tangible fixed assets | 22/27 | €227,537 | €207,562 | -€19,975 | -8.8% |
| Land and buildings | 22 | €1,512 | €183,050 | +€181,538 | +12,009% |
| Plant, machinery and equipment | 23 | €3,314 | €1,753 | -€1,561 | -47.1% |
| Furniture and vehicles | 24 | €35,342 | €22,759 | -€12,583 | -35.6% |
| Assets under construction and advance payments | 27 | €187,369 | - | -€187,369 | |
| Current assets | 29/58 | €131,347 | €136,174 | +€4,827 | +3.7% |
| Stocks and contracts in progress | 3 | €68,388 | €57,615 | -€10,773 | -15.8% |
| Stocks | 30/36 | €8,115 | €8,712 | +€597 | +7.4% |
| Contracts in progress | 37 | €60,273 | €48,903 | -€11,370 | -18.9% |
| Amounts receivable within one year | 40/41 | €47,355 | €72,753 | +€25,398 | +53.6% |
| Trade receivables | 40 | €46,980 | €72,273 | +€25,293 | +53.8% |
| Other amounts receivable | 41 | €375 | €480 | +€105 | +28.0% |
| Cash at bank and in hand | 54/58 | €13,909 | €4,006 | -€9,902 | -71.2% |
| Deferred charges and accrued income | 490/1 | €1,696 | €1,800 | +€104 | +6.1% |
| Total equity and liabilities | 10/49 | €359,823 | €344,135 | -€15,687 | -4.4% |
| Equity | 10/15 | €107,486 | €108,355 | +€869 | +0.8% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €102,486 | €103,355 | +€869 | +0.8% |
| Distributable reserves | 133 | €102,486 | €103,355 | +€869 | +0.8% |
| Amounts payable | 17/49 | €252,337 | €235,780 | -€16,557 | -6.6% |
| Amounts payable after more than one year | 17 | €130,250 | €118,897 | -€11,353 | -8.7% |
| Financial debts | 170/4 | €130,250 | €118,897 | -€11,353 | -8.7% |
| Amounts payable within one year | 42/48 | €117,481 | €112,110 | -€5,371 | -4.6% |
| Current portion of amounts payable after more than one year | 42 | €11,023 | €11,353 | +€330 | +3.0% |
| Trade debts | 44 | €34,769 | €65,033 | +€30,264 | +87.0% |
| Suppliers | 440/4 | €34,769 | €65,033 | +€30,264 | +87.0% |
| Taxes, remuneration and social security | 45 | €12,081 | €7,338 | -€4,743 | -39.3% |
| Taxes | 450/3 | €12,081 | €7,338 | -€4,743 | -39.3% |
| Other amounts payable | 47/48 | €59,608 | €28,386 | -€31,222 | -52.4% |
| Accrued charges and deferred income | 492/3 | €4,606 | €4,773 | +€167 | +3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,577 | €20,515 | +€3,938 | +23.8% |
| Other operating charges | 640/8 | €1,216 | €1,160 | -€56 | -4.6% |
| Gross operating margin | 9900 | €41,614 | €30,138 | -€11,476 | -27.6% |
| Operating profit (loss) | 9901 | €23,821 | €8,464 | -€15,357 | -64.5% |
| Financial income | 75/76B | €0 | €212 | +€212 | +124,853% |
| Recurring financial income | 75 | €0 | €212 | +€212 | +124,853% |
| Financial charges | 65/66B | €6,385 | €6,120 | -€265 | -4.1% |
| Recurring financial charges | 65 | €6,385 | €6,120 | -€265 | -4.1% |
| Profit (loss) for the period before taxes | 9903 | €17,436 | €2,556 | -€14,880 | -85.3% |
| Income taxes | 67/77 | €3,989 | €854 | -€3,135 | -78.6% |
| Profit (loss) for the period | 9904 | €13,447 | €1,702 | -€11,745 | -87.3% |
| Profit (loss) for the period to be appropriated | 9905 | €13,447 | €1,702 | -€11,745 | -87.3% |
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.