DENSHA-HEUSDEN: 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.
DENSHA-HEUSDEN
Largest movements
- Stocks and contracts -€2,150
down €2,150 (-5.3%), from €40,878 to €38,728
- Cash +€1,977
up €1,977 (+23.5%), from €8,426 to €10,403
mainly Other debts (+€3,529) and Stocks and contracts (+€2,150)
- Tangible fixed assets -€800
down €800 (-33.3%), from €2,400 to €1,600
- Other debts +€3,529
up €3,529 (+39.3%), from €8,980 to €12,509
- Tax, wage and social debts -€2,448
down €2,448 (-50.1%), from €4,888 to €2,440
of which Taxes: -€2,448
- Trade debts -€1,885
no longer reported in 2025 (was €1,885)
- Financial income +€2,345
up €2,345 (+96.0%), from €2,442 to €4,787
- Gross operating margin +€723
up €723 (+47.3%), from -€1,530 to -€807
- Other operating charges +€245
up €245 (+8.3%), from €2,945 to €3,190
- Financial charges +€169
up €169 (+82.0%), from €206 to €375
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 | €52,638 | €51,363 | -€1,275 | -2.4% |
| Fixed assets | 21/28 | €2,400 | €1,600 | -€800 | -33.3% |
| Tangible fixed assets | 22/27 | €2,400 | €1,600 | -€800 | -33.3% |
| Plant, machinery and equipment | 23 | €2,400 | €1,600 | -€800 | -33.3% |
| Current assets | 29/58 | €50,238 | €49,763 | -€475 | -0.9% |
| Stocks and contracts in progress | 3 | €40,878 | €38,728 | -€2,150 | -5.3% |
| Stocks | 30/36 | €40,878 | €38,728 | -€2,150 | -5.3% |
| Amounts receivable within one year | 40/41 | €328 | - | -€328 | |
| Trade receivables | 40 | €328 | - | -€328 | |
| Cash at bank and in hand | 54/58 | €8,426 | €10,403 | +€1,977 | +23.5% |
| Deferred charges and accrued income | 490/1 | €606 | €632 | +€26 | +4.3% |
| Total equity and liabilities | 10/49 | €52,638 | €51,363 | -€1,275 | -2.4% |
| Equity | 10/15 | €16,799 | €16,414 | -€385 | -2.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €13,240 | €13,240 | = | 0.0% |
| Distributable reserves | 133 | €13,240 | €13,240 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€16,441 | -€16,826 | -€385 | -2.3% |
| Amounts payable | 17/49 | €35,839 | €34,949 | -€890 | -2.5% |
| Amounts payable after more than one year | 17 | €20,000 | €20,000 | = | 0.0% |
| Other amounts payable | 178/9 | €20,000 | €20,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €15,839 | €14,949 | -€890 | -5.6% |
| Trade debts | 44 | €1,885 | - | -€1,885 | |
| Suppliers | 440/4 | €1,885 | - | -€1,885 | |
| Advances received on contracts in progress | 46 | €86 | - | -€86 | |
| Taxes, remuneration and social security | 45 | €4,888 | €2,440 | -€2,448 | -50.1% |
| Taxes | 450/3 | €3,288 | €840 | -€2,448 | -74.5% |
| Remuneration and social security | 454/9 | €1,600 | €1,600 | = | 0.0% |
| Other amounts payable | 47/48 | €8,980 | €12,509 | +€3,529 | +39.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €800 | €800 | = | 0.0% |
| Other operating charges | 640/8 | €2,945 | €3,190 | +€245 | +8.3% |
| Gross operating margin | 9900 | -€1,530 | -€807 | +€723 | +47.3% |
| Operating profit (loss) | 9901 | -€5,275 | -€4,797 | +€478 | +9.1% |
| Financial income | 75/76B | €2,442 | €4,787 | +€2,345 | +96.0% |
| Recurring financial income | 75 | €2,442 | €4,787 | +€2,345 | +96.0% |
| Financial charges | 65/66B | €206 | €375 | +€169 | +82.0% |
| Recurring financial charges | 65 | €206 | €375 | +€169 | +82.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,039 | -€385 | +€2,654 | +87.3% |
| Profit (loss) for the period | 9904 | -€3,039 | -€385 | +€2,654 | +87.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,039 | -€385 | +€2,654 | +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 29 October 2026 via checked.be.