DENOVAN: what changed
Two fiscal 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.
DENOVAN
Largest movements
- Receivables within one year -€48,581
down €48,581 (-9.2%), from €529,843 to €481,261
of which Trade receivables: -€437,523
- Cash +€21,383
up €21,383 (+1244.5%), from €1,718 to €23,101
mainly Net result for the year (+€92,698) and Receivables within one year (+€48,581)
- Other debts -€109,168
no longer reported in 2025 (was €109,168)
- Profit (loss) carried forward +€92,698
up €92,698 (+41.7%), from €222,509 to €315,207
- Tax, wage and social debts -€9,761
down €9,761 (-9.1%), from €107,316 to €97,555
- Gross operating margin -€172,753
down €172,753 (-59.4%), from €290,855 to €118,102
- Taxes -€42,982
down €42,982 (-63.2%), from €68,040 to €25,058
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.
Cash bridge derived
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 | €531,561 | €504,362 | -€27,199 | -5.1% |
| Current assets | 29/58 | €531,561 | €504,362 | -€27,199 | -5.1% |
| Amounts receivable within one year | 40/41 | €529,843 | €481,261 | -€48,581 | -9.2% |
| Trade receivables | 40 | €523,675 | €86,153 | -€437,523 | -83.5% |
| Other amounts receivable | 41 | €6,168 | €395,109 | +€388,941 | +6306.3% |
| Cash at bank and in hand | 54/58 | €1,718 | €23,101 | +€21,383 | +1244.5% |
| Total equity and liabilities | 10/49 | €531,561 | €504,362 | -€27,199 | -5.1% |
| Equity | 10/15 | €311,305 | €404,002 | +€92,698 | +29.8% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €86,796 | €86,796 | = | 0.0% |
| Distributable reserves | 133 | €86,796 | €86,796 | = | 0.0% |
| Profit (loss) carried forward | 14 | €222,509 | €315,207 | +€92,698 | +41.7% |
| Amounts payable | 17/49 | €220,256 | €100,360 | -€119,896 | -54.4% |
| Amounts payable within one year | 42/48 | €220,256 | €100,360 | -€119,896 | -54.4% |
| Trade debts | 44 | €3,772 | €2,804 | -€968 | -25.7% |
| Suppliers | 440/4 | €3,772 | €2,804 | -€968 | -25.7% |
| Taxes, remuneration and social security | 45 | €107,316 | €97,555 | -€9,761 | -9.1% |
| Taxes | 450/3 | €107,316 | €97,555 | -€9,761 | -9.1% |
| Other amounts payable | 47/48 | €109,168 | - | -€109,168 | |
| Other operating charges | 640/8 | - | €769 | +€769 | |
| Gross operating margin | 9900 | €290,855 | €118,102 | -€172,753 | -59.4% |
| Operating profit (loss) | 9901 | €290,855 | €117,334 | -€173,521 | -59.7% |
| Financial income | 75/76B | - | €563 | +€563 | |
| Recurring financial income | 75 | - | €563 | +€563 | |
| Financial charges | 65/66B | €306 | €142 | -€164 | -53.7% |
| Recurring financial charges | 65 | €306 | €142 | -€164 | -53.7% |
| Profit (loss) for the period before taxes | 9903 | €290,549 | €117,755 | -€172,794 | -59.5% |
| Income taxes | 67/77 | €68,040 | €25,058 | -€42,982 | -63.2% |
| Profit (loss) for the period | 9904 | €222,509 | €92,698 | -€129,811 | -58.3% |
| Profit (loss) for the period to be appropriated | 9905 | €222,509 | €92,698 | -€129,811 | -58.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.