deNVer: 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.
deNVer
Largest movements
- Tangible fixed assets -€33,845
down €33,845 (-8.2%), from €410,922 to €377,077
of which Land and buildings: -€29,622
- Receivables within one year -€20,558
down €20,558 (-32.6%), from €63,101 to €42,542
of which Other amounts receivable: -€14,086
- Cash -€10,704
down €10,704 (-3.7%), from €288,598 to €277,895
mainly Other debts (-€67,907) and Debts after one year (-€31,174)
- Other debts -€67,907
down €67,907 (-48.7%), from €139,296 to €71,390
- Reserves +€52,520
up €52,520 (+14.1%), from €372,828 to €425,348
- Debts after one year -€31,174
down €31,174 (-46.3%), from €67,310 to €36,135
- Short-term financial debts -€11,769
no longer reported in 2025 (was €11,769)
- Current portion of long-term debt -€8,421
down €8,421 (-21.3%), from €39,595 to €31,174
- Gross operating margin +€39,075
up €39,075 (+43.4%), from €90,028 to €129,103
- Taxes +€10,422
up €10,422 (+86.4%), from €12,063 to €22,485
- Provisions +€3,631
no longer reported in 2025 (was -€3,631)
- Financial charges -€1,364
down €1,364 (-13.6%), from €10,038 to €8,674
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 | €778,519 | €711,995 | -€66,524 | -8.5% |
| Fixed assets | 21/28 | €410,922 | €377,077 | -€33,845 | -8.2% |
| Tangible fixed assets | 22/27 | €410,922 | €377,077 | -€33,845 | -8.2% |
| Land and buildings | 22 | €368,491 | €338,869 | -€29,622 | -8.0% |
| Plant, machinery and equipment | 23 | - | €674 | +€674 | |
| Furniture and vehicles | 24 | €42,430 | €37,535 | -€4,896 | -11.5% |
| Current assets | 29/58 | €367,598 | €334,918 | -€32,680 | -8.9% |
| Amounts receivable after more than one year | 29 | €10,000 | €10,000 | = | 0.0% |
| Other amounts receivable | 291 | €10,000 | €10,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €63,101 | €42,542 | -€20,558 | -32.6% |
| Trade receivables | 40 | €42,318 | €35,846 | -€6,472 | -15.3% |
| Other amounts receivable | 41 | €20,783 | €6,697 | -€14,086 | -67.8% |
| Cash at bank and in hand | 54/58 | €288,598 | €277,895 | -€10,704 | -3.7% |
| Deferred charges and accrued income | 490/1 | €5,899 | €4,481 | -€1,418 | -24.0% |
| Total equity and liabilities | 10/49 | €778,519 | €711,995 | -€66,524 | -8.5% |
| Equity | 10/15 | €482,913 | €535,432 | +€52,520 | +10.9% |
| Contributions | 10/11 | €110,084 | €110,084 | = | 0.0% |
| Reserves | 13 | €372,828 | €425,348 | +€52,520 | +14.1% |
| Distributable reserves | 133 | €372,828 | €425,348 | +€52,520 | +14.1% |
| Provisions and deferred taxes | 16 | €10,892 | €10,892 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €10,892 | €10,892 | = | 0.0% |
| Major repairs and maintenance | 162 | €10,892 | €10,892 | = | 0.0% |
| Amounts payable | 17/49 | €284,714 | €165,670 | -€119,044 | -41.8% |
| Amounts payable after more than one year | 17 | €67,310 | €36,135 | -€31,174 | -46.3% |
| Financial debts | 170/4 | €67,310 | €36,135 | -€31,174 | -46.3% |
| Amounts payable within one year | 42/48 | €215,463 | €125,134 | -€90,329 | -41.9% |
| Current portion of amounts payable after more than one year | 42 | €39,595 | €31,174 | -€8,421 | -21.3% |
| Financial debts | 43 | €11,769 | - | -€11,769 | |
| Credit institutions | 430/8 | €11,769 | - | -€11,769 | |
| Trade debts | 44 | €12,973 | €6,778 | -€6,196 | -47.8% |
| Suppliers | 440/4 | €12,973 | €6,778 | -€6,196 | -47.8% |
| Taxes, remuneration and social security | 45 | €11,828 | €15,792 | +€3,964 | +33.5% |
| Taxes | 450/3 | €7,128 | €15,792 | +€8,664 | +121.6% |
| Remuneration and social security | 454/9 | €4,700 | - | -€4,700 | |
| Other amounts payable | 47/48 | €139,296 | €71,390 | -€67,907 | -48.7% |
| Accrued charges and deferred income | 492/3 | €1,942 | €4,401 | +€2,459 | +126.6% |
| Non-recurring operating income | 76A | €18,801 | - | -€18,801 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,292 | €44,072 | -€219 | -0.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€3,631 | - | +€3,631 | |
| Other operating charges | 640/8 | €3,703 | €3,942 | +€239 | +6.5% |
| Gross operating margin | 9900 | €90,028 | €129,103 | +€39,075 | +43.4% |
| Operating profit (loss) | 9901 | €45,664 | €81,088 | +€35,424 | +77.6% |
| Financial income | 75/76B | €3,409 | €2,591 | -€818 | -24.0% |
| Recurring financial income | 75 | €3,409 | €2,591 | -€818 | -24.0% |
| Financial charges | 65/66B | €10,038 | €8,674 | -€1,364 | -13.6% |
| Recurring financial charges | 65 | €10,038 | €8,674 | -€1,364 | -13.6% |
| Profit (loss) for the period before taxes | 9903 | €39,034 | €75,005 | +€35,971 | +92.2% |
| Income taxes | 67/77 | €12,063 | €22,485 | +€10,422 | +86.4% |
| Profit (loss) for the period | 9904 | €26,971 | €52,520 | +€25,548 | +94.7% |
| Profit (loss) for the period to be appropriated | 9905 | €26,971 | €52,520 | +€25,548 | +94.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.