DENP IMMO: 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.
DENP IMMO
Largest movements
- Receivables within one year -€379,124
down €379,124 (-61.6%), from €615,899 to €236,775
of which Other amounts receivable: -€380,076
- Tangible fixed assets -€202,447
down €202,447 (-3.6%), from €5.6m to €5.4m
of which Land and buildings: -€173,197
- Short-term financial debts -€494,131
down €494,131 (-89.8%), from €550,000 to €55,869
- Debts after one year -€208,495
down €208,495 (-4.1%), from €5.1m to €4.9m
of which Financial debts: -€323,495
- Reserves +€100,000
up €100,000 (+43.5%), from €230,105 to €330,105
of which Distributable reserves: +€100,000
- Gross operating margin +€26,364
up €26,364 (+5.0%), from €527,376 to €553,739
- Financial charges -€14,077
down €14,077 (-8.4%), from €168,262 to €154,184
- Taxes +€11,369
up €11,369 (+28.1%), from €40,396 to €51,765
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 | €6,472,473 | €5,848,095 | -€624,379 | -9.6% |
| Fixed assets | 21/28 | €5,793,764 | €5,559,960 | -€233,804 | -4.0% |
| Intangible fixed assets | 21 | €240,537 | €209,180 | -€31,357 | -13.0% |
| Tangible fixed assets | 22/27 | €5,553,227 | €5,350,780 | -€202,447 | -3.6% |
| Land and buildings | 22 | €5,172,977 | €4,999,780 | -€173,197 | -3.3% |
| Leasing and similar rights | 25 | €380,250 | €351,000 | -€29,250 | -7.7% |
| Current assets | 29/58 | €678,709 | €288,134 | -€390,575 | -57.5% |
| Amounts receivable within one year | 40/41 | €615,899 | €236,775 | -€379,124 | -61.6% |
| Trade receivables | 40 | €0 | €952 | +€952 | |
| Other amounts receivable | 41 | €615,899 | €235,823 | -€380,076 | -61.7% |
| Cash at bank and in hand | 54/58 | €50,000 | €47,901 | -€2,099 | -4.2% |
| Deferred charges and accrued income | 490/1 | €12,810 | €3,459 | -€9,351 | -73.0% |
| Total equity and liabilities | 10/49 | €6,472,473 | €5,848,095 | -€624,379 | -9.6% |
| Equity | 10/15 | €249,739 | €350,724 | +€100,985 | +40.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €230,105 | €330,105 | +€100,000 | +43.5% |
| Non-distributable reserves | 130/1 | €105 | €105 | = | 0.0% |
| Reserves not available under the articles | 1311 | €105 | €105 | = | 0.0% |
| Distributable reserves | 133 | €230,000 | €330,000 | +€100,000 | +43.5% |
| Profit (loss) carried forward | 14 | €1,034 | €2,019 | +€985 | +95.2% |
| Provisions and deferred taxes | 16 | €223,457 | €215,806 | -€7,651 | -3.4% |
| Deferred taxes | 168 | €223,457 | €215,806 | -€7,651 | -3.4% |
| Amounts payable | 17/49 | €5,999,277 | €5,281,565 | -€717,712 | -12.0% |
| Amounts payable after more than one year | 17 | €5,066,778 | €4,858,284 | -€208,495 | -4.1% |
| Financial debts | 170/4 | €3,866,778 | €3,543,284 | -€323,495 | -8.4% |
| Other amounts payable | 178/9 | €1,200,000 | €1,315,000 | +€115,000 | +9.6% |
| Amounts payable within one year | 42/48 | €907,614 | €406,594 | -€501,021 | -55.2% |
| Current portion of amounts payable after more than one year | 42 | €313,713 | €320,191 | +€6,477 | +2.1% |
| Financial debts | 43 | €550,000 | €55,869 | -€494,131 | -89.8% |
| Credit institutions | 430/8 | €550,000 | €55,869 | -€494,131 | -89.8% |
| Trade debts | 44 | €1,269 | €16,382 | +€15,113 | +1191.2% |
| Suppliers | 440/4 | €1,269 | €16,382 | +€15,113 | +1191.2% |
| Taxes, remuneration and social security | 45 | €39,752 | €11,471 | -€28,281 | -71.1% |
| Taxes | 450/3 | €39,752 | €11,471 | -€28,281 | -71.1% |
| Other amounts payable | 47/48 | €2,880 | €2,681 | -€199 | -6.9% |
| Accrued charges and deferred income | 492/3 | €24,884 | €16,687 | -€8,197 | -32.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €253,864 | €253,330 | -€534 | -0.2% |
| Other operating charges | 640/8 | €1,094 | €1,126 | +€33 | +3.0% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €527,376 | €553,739 | +€26,364 | +5.0% |
| Operating profit (loss) | 9901 | €272,418 | €299,283 | +€26,865 | +9.9% |
| Financial income | 75/76B | €623 | €0 | -€623 | -100.0% |
| Recurring financial income | 75 | €623 | €0 | -€623 | -100.0% |
| Financial charges | 65/66B | €168,262 | €154,184 | -€14,077 | -8.4% |
| Recurring financial charges | 65 | €168,262 | €154,184 | -€14,077 | -8.4% |
| Profit (loss) for the period before taxes | 9903 | €104,779 | €145,099 | +€40,319 | +38.5% |
| Transfer from deferred taxes | 780 | €7,651 | €7,651 | = | 0.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €40,396 | €51,765 | +€11,369 | +28.1% |
| Profit (loss) for the period | 9904 | €72,034 | €100,985 | +€28,950 | +40.2% |
| Profit (loss) for the period to be appropriated | 9905 | €72,034 | €100,985 | +€28,950 | +40.2% |
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 8 October 2026 via checked.be.