DENPHI: 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.
DENPHI
Largest movements
- Tangible fixed assets +€15,709
up €15,709 (+4.9%), from €320,671 to €336,380
of which Land and buildings: +€17,335
- Other debts +€32,529
up €32,529 (+71.8%), from €45,309 to €77,838
- Debts after one year -€18,542
down €18,542 (-8.8%), from €210,094 to €191,552
- Gross operating margin -€23,039
down €23,039 (-47.5%), from €48,453 to €25,414
- Depreciation +€5,601
up €5,601 (+43.0%), from €13,026 to €18,627
- Provisions +€4,000
no longer reported in 2025 (was -€4,000)
- Other operating charges +€1,636
up €1,636 (+58.3%), from €2,808 to €4,444
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 | €331,657 | €345,164 | +€13,507 | +4.1% |
| Fixed assets | 21/28 | €324,664 | €340,373 | +€15,709 | +4.8% |
| Tangible fixed assets | 22/27 | €320,671 | €336,380 | +€15,709 | +4.9% |
| Land and buildings | 22 | €318,388 | €335,723 | +€17,335 | +5.4% |
| Plant, machinery and equipment | 23 | €1,677 | €533 | -€1,144 | -68.2% |
| Furniture and vehicles | 24 | €607 | €124 | -€483 | -79.5% |
| Financial fixed assets | 28 | €3,993 | €3,993 | = | 0.0% |
| Current assets | 29/58 | €6,992 | €4,791 | -€2,202 | -31.5% |
| Amounts receivable within one year | 40/41 | €2,987 | - | -€2,987 | |
| Trade receivables | 40 | €1,497 | - | -€1,497 | |
| Other amounts receivable | 41 | €1,490 | - | -€1,490 | |
| Cash at bank and in hand | 54/58 | €3,484 | €4,250 | +€766 | +22.0% |
| Deferred charges and accrued income | 490/1 | €521 | €540 | +€19 | +3.7% |
| Total equity and liabilities | 10/49 | €331,657 | €345,164 | +€13,507 | +4.1% |
| Equity | 10/15 | €51,210 | €48,414 | -€2,796 | -5.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €31,210 | €28,414 | -€2,796 | -9.0% |
| Amounts payable | 17/49 | €280,447 | €296,750 | +€16,303 | +5.8% |
| Amounts payable after more than one year | 17 | €210,094 | €191,552 | -€18,542 | -8.8% |
| Financial debts | 170/4 | €210,094 | €191,552 | -€18,542 | -8.8% |
| Amounts payable within one year | 42/48 | €68,353 | €100,698 | +€32,345 | +47.3% |
| Current portion of amounts payable after more than one year | 42 | €18,251 | €18,542 | +€291 | +1.6% |
| Trade debts | 44 | €4,742 | €3,016 | -€1,726 | -36.4% |
| Suppliers | 440/4 | €4,742 | €3,016 | -€1,726 | -36.4% |
| Taxes, remuneration and social security | 45 | €50 | €1,302 | +€1,251 | +2481.3% |
| Taxes | 450/3 | €50 | €1,302 | +€1,251 | +2481.3% |
| Other amounts payable | 47/48 | €45,309 | €77,838 | +€32,529 | +71.8% |
| Accrued charges and deferred income | 492/3 | €2,000 | €4,500 | +€2,500 | +125.0% |
| Non-recurring operating income | 76A | €23,175 | - | -€23,175 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,026 | €18,627 | +€5,601 | +43.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€4,000 | - | +€4,000 | |
| Other operating charges | 640/8 | €2,808 | €4,444 | +€1,636 | +58.3% |
| Non-recurring operating charges | 66A | €2,777 | €80 | -€2,696 | -97.1% |
| Gross operating margin | 9900 | €48,453 | €25,414 | -€23,039 | -47.5% |
| Operating profit (loss) | 9901 | €33,843 | €2,263 | -€31,579 | -93.3% |
| Financial charges | 65/66B | €4,784 | €5,060 | +€275 | +5.8% |
| Recurring financial charges | 65 | €4,784 | €5,060 | +€275 | +5.8% |
| Profit (loss) for the period before taxes | 9903 | €29,059 | -€2,796 | -€31,855 | |
| Profit (loss) for the period | 9904 | €29,059 | -€2,796 | -€31,855 | |
| Profit (loss) for the period to be appropriated | 9905 | €29,059 | -€2,796 | -€31,855 |
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 3 October 2026 via checked.be.