DENOX: 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.
DENOX
Largest movements
- Cash -€27,741
down €27,741 (-51.5%), from €53,823 to €26,082
mainly Contributions, distributions and other (-€66,000) and Other debts (-€16,150)
- Receivables within one year +€6,533
up €6,533 (+10.7%), from €61,287 to €67,820
of which Trade receivables: +€4,331
- Deferred charges and accrued income +€1,702
up €1,702 (+524.4%), from €325 to €2,026
- Tangible fixed assets +€1,564
up €1,564 (+509.9%), from €307 to €1,871
of which Furniture and vehicles: +€1,839
- Other debts -€16,150
down €16,150 (-22.4%), from €72,250 to €56,100
- Tax, wage and social debts -€11,546
down €11,546 (-47.4%), from €24,336 to €12,790
- Profit (loss) carried forward +€8,494
up €8,494 (+92.9%), from €9,143 to €17,637
- Gross operating margin -€5,536
down €5,536 (-5.4%), from €102,085 to €96,549
- Taxes -€1,186
down €1,186 (-5.2%), from €23,036 to €21,850
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 | €115,741 | €97,799 | -€17,942 | -15.5% |
| Fixed assets | 21/28 | €307 | €1,871 | +€1,564 | +509.9% |
| Tangible fixed assets | 22/27 | €307 | €1,871 | +€1,564 | +509.9% |
| Plant, machinery and equipment | 23 | €307 | €32 | -€274 | -89.5% |
| Furniture and vehicles | 24 | - | €1,839 | +€1,839 | |
| Current assets | 29/58 | €115,434 | €95,928 | -€19,507 | -16.9% |
| Amounts receivable within one year | 40/41 | €61,287 | €67,820 | +€6,533 | +10.7% |
| Trade receivables | 40 | €61,256 | €65,587 | +€4,331 | +7.1% |
| Other amounts receivable | 41 | €30 | €2,233 | +€2,203 | +7276.5% |
| Cash at bank and in hand | 54/58 | €53,823 | €26,082 | -€27,741 | -51.5% |
| Deferred charges and accrued income | 490/1 | €325 | €2,026 | +€1,702 | +524.4% |
| Total equity and liabilities | 10/49 | €115,741 | €97,799 | -€17,942 | -15.5% |
| Equity | 10/15 | €19,143 | €27,637 | +€8,494 | +44.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,143 | €17,637 | +€8,494 | +92.9% |
| Amounts payable | 17/49 | €96,598 | €70,162 | -€26,436 | -27.4% |
| Amounts payable within one year | 42/48 | €96,598 | €69,947 | -€26,652 | -27.6% |
| Trade debts | 44 | €12 | €1,057 | +€1,044 | +8368.5% |
| Suppliers | 440/4 | €12 | €1,057 | +€1,044 | +8368.5% |
| Taxes, remuneration and social security | 45 | €24,336 | €12,790 | -€11,546 | -47.4% |
| Taxes | 450/3 | €24,336 | €12,790 | -€11,546 | -47.4% |
| Other amounts payable | 47/48 | €72,250 | €56,100 | -€16,150 | -22.4% |
| Accrued charges and deferred income | 492/3 | - | €216 | +€216 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €505 | €339 | -€166 | -32.8% |
| Other operating charges | 640/8 | €273 | €270 | -€4 | -1.3% |
| Gross operating margin | 9900 | €102,085 | €96,549 | -€5,536 | -5.4% |
| Operating profit (loss) | 9901 | €101,307 | €95,940 | -€5,367 | -5.3% |
| Financial income | 75/76B | €179 | €549 | +€369 | +205.8% |
| Recurring financial income | 75 | €179 | €549 | +€369 | +205.8% |
| Financial charges | 65/66B | €127 | €145 | +€18 | +14.2% |
| Recurring financial charges | 65 | €127 | €145 | +€18 | +14.2% |
| Profit (loss) for the period before taxes | 9903 | €101,359 | €96,343 | -€5,016 | -4.9% |
| Income taxes | 67/77 | €23,036 | €21,850 | -€1,186 | -5.2% |
| Profit (loss) for the period | 9904 | €78,323 | €74,494 | -€3,829 | -4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €78,323 | €74,494 | -€3,829 | -4.9% |
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 11 October 2026 via checked.be.