Denuvans: 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.
Denuvans
Largest movements
- Cash -€12,134
down €12,134 (-42.1%), from €28,833 to €16,699
mainly Investment in fixed assets (net) (-€5,538) and Tax, wage and social debts (-€4,358)
- Tangible fixed assets +€1,805
up €1,805 (+22.3%), from €8,106 to €9,910
of which Other tangible fixed assets: +€2,775
- Receivables within one year +€1,741
up €1,741 (+28.4%), from €6,125 to €7,865
of which Trade receivables: +€1,815
- Tax, wage and social debts -€4,358
down €4,358 (-45.7%), from €9,539 to €5,181
- Reserves -€3,257
down €3,257 (-10.1%), from €32,386 to €29,129
- Trade debts -€1,074
down €1,074 (-41.4%), from €2,596 to €1,522
- Gross operating margin -€6,472
down €6,472 (-59.6%), from €10,859 to €4,387
- Depreciation +€2,264
up €2,264 (+154.0%), from €1,470 to €3,734
- Taxes -€1,824
down €1,824 (-90.7%), from €2,012 to €188
- Other operating charges +€454
up €454 (+177.1%), from €256 to €710
- Financial charges +€325
up €325 (+12.1%), from €2,687 to €3,012
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 | €44,621 | €35,987 | -€8,633 | -19.3% |
| Fixed assets | 21/28 | €8,106 | €9,910 | +€1,805 | +22.3% |
| Tangible fixed assets | 22/27 | €8,106 | €9,910 | +€1,805 | +22.3% |
| Plant, machinery and equipment | 23 | €720 | €907 | +€187 | +26.0% |
| Furniture and vehicles | 24 | €2,704 | €1,547 | -€1,158 | -42.8% |
| Other tangible fixed assets | 26 | €4,681 | €7,456 | +€2,775 | +59.3% |
| Current assets | 29/58 | €36,515 | €26,077 | -€10,438 | -28.6% |
| Amounts receivable within one year | 40/41 | €6,125 | €7,865 | +€1,741 | +28.4% |
| Trade receivables | 40 | €6,050 | €7,865 | +€1,815 | +30.0% |
| Other amounts receivable | 41 | €75 | - | -€75 | |
| Cash at bank and in hand | 54/58 | €28,833 | €16,699 | -€12,134 | -42.1% |
| Deferred charges and accrued income | 490/1 | €1,558 | €1,513 | -€44 | -2.8% |
| Total equity and liabilities | 10/49 | €44,621 | €35,987 | -€8,633 | -19.3% |
| Equity | 10/15 | €32,486 | €29,229 | -€3,257 | -10.0% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €32,386 | €29,129 | -€3,257 | -10.1% |
| Distributable reserves | 133 | €32,386 | €29,129 | -€3,257 | -10.1% |
| Amounts payable | 17/49 | €12,134 | €6,758 | -€5,376 | -44.3% |
| Amounts payable within one year | 42/48 | €12,134 | €6,758 | -€5,376 | -44.3% |
| Trade debts | 44 | €2,596 | €1,522 | -€1,074 | -41.4% |
| Suppliers | 440/4 | €2,596 | €1,522 | -€1,074 | -41.4% |
| Taxes, remuneration and social security | 45 | €9,539 | €5,181 | -€4,358 | -45.7% |
| Taxes | 450/3 | €9,539 | €5,181 | -€4,358 | -45.7% |
| Other amounts payable | 47/48 | - | €55 | +€55 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,470 | €3,734 | +€2,264 | +154.0% |
| Other operating charges | 640/8 | €256 | €710 | +€454 | +177.1% |
| Gross operating margin | 9900 | €10,859 | €4,387 | -€6,472 | -59.6% |
| Operating profit (loss) | 9901 | €9,133 | -€57 | -€9,189 | |
| Financial income | 75/76B | €223 | - | -€223 | |
| Recurring financial income | 75 | €223 | - | -€223 | |
| Financial charges | 65/66B | €2,687 | €3,012 | +€325 | +12.1% |
| Recurring financial charges | 65 | €2,687 | €3,012 | +€325 | +12.1% |
| Profit (loss) for the period before taxes | 9903 | €6,669 | -€3,069 | -€9,738 | |
| Income taxes | 67/77 | €2,012 | €188 | -€1,824 | -90.7% |
| Profit (loss) for the period | 9904 | €4,657 | -€3,257 | -€7,914 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,657 | -€3,257 | -€7,914 |
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.