DENYEL: 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.
DENYEL
Largest movements
- Cash -€54,378
down €54,378 (-56.3%), from €96,620 to €42,242
mainly Trade debts (-€24,817) and Net result for the year (-€24,569)
- Tangible fixed assets -€14,005
down €14,005 (-6.4%), from €218,690 to €204,685
of which Furniture and vehicles: -€10,299
- Receivables within one year -€12,614
down €12,614 (-5.3%), from €238,824 to €226,210
of which Trade receivables: -€20,864
- Trade debts -€24,817
down €24,817 (-89.7%), from €27,669 to €2,852
- Profit (loss) carried forward -€24,569
down €24,569 (-7.7%), from €321,101 to €296,532
- Debts after one year -€19,530
down €19,530 (-13.1%), from €149,158 to €129,628
- Current portion of long-term debt -€8,601
down €8,601 (-29.2%), from €29,409 to €20,808
- Gross operating margin -€82,973
down €82,973, from €81,566 to -€1,407
- Taxes -€15,777
down €15,777 (-99.2%), from €15,897 to €120
- Other operating charges +€3,277
up €3,277 (+118%), from €2,782 to €6,059
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 | €556,858 | €479,363 | -€77,495 | -13.9% |
| Fixed assets | 21/28 | €220,090 | €206,085 | -€14,005 | -6.4% |
| Tangible fixed assets | 22/27 | €218,690 | €204,685 | -€14,005 | -6.4% |
| Land and buildings | 22 | €189,351 | €186,601 | -€2,750 | -1.5% |
| Plant, machinery and equipment | 23 | €9,580 | €8,624 | -€956 | -10.0% |
| Furniture and vehicles | 24 | €19,759 | €9,460 | -€10,299 | -52.1% |
| Financial fixed assets | 28 | €1,400 | €1,400 | = | 0.0% |
| Current assets | 29/58 | €336,768 | €273,278 | -€63,490 | -18.9% |
| Amounts receivable within one year | 40/41 | €238,824 | €226,210 | -€12,614 | -5.3% |
| Trade receivables | 40 | €213,373 | €192,509 | -€20,864 | -9.8% |
| Other amounts receivable | 41 | €25,451 | €33,701 | +€8,250 | +32.4% |
| Cash at bank and in hand | 54/58 | €96,620 | €42,242 | -€54,378 | -56.3% |
| Deferred charges and accrued income | 490/1 | €1,324 | €4,826 | +€3,502 | +265% |
| Total equity and liabilities | 10/49 | €556,858 | €479,363 | -€77,495 | -13.9% |
| Equity | 10/15 | €330,301 | €305,732 | -€24,569 | -7.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €3,000 | €3,000 | = | 0.0% |
| Distributable reserves | 133 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €321,101 | €296,532 | -€24,569 | -7.7% |
| Amounts payable | 17/49 | €226,557 | €173,631 | -€52,926 | -23.4% |
| Amounts payable after more than one year | 17 | €149,158 | €129,628 | -€19,530 | -13.1% |
| Financial debts | 170/4 | €149,158 | €129,628 | -€19,530 | -13.1% |
| Amounts payable within one year | 42/48 | €77,399 | €44,003 | -€33,396 | -43.1% |
| Current portion of amounts payable after more than one year | 42 | €29,409 | €20,808 | -€8,601 | -29.2% |
| Trade debts | 44 | €27,669 | €2,852 | -€24,817 | -89.7% |
| Suppliers | 440/4 | €27,669 | €2,852 | -€24,817 | -89.7% |
| Taxes, remuneration and social security | 45 | €8,757 | €10,215 | +€1,458 | +16.6% |
| Remuneration and social security | 454/9 | €8,757 | €10,215 | +€1,458 | +16.6% |
| Other amounts payable | 47/48 | €11,564 | €10,128 | -€1,436 | -12.4% |
| Non-recurring operating income | 76A | - | €3,246 | +€3,246 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,432 | €13,673 | +€241 | +1.8% |
| Other operating charges | 640/8 | €2,782 | €6,059 | +€3,277 | +118% |
| Gross operating margin | 9900 | €81,566 | -€1,407 | -€82,973 | |
| Operating profit (loss) | 9901 | €65,352 | -€21,139 | -€86,491 | |
| Financial income | 75/76B | - | €2 | +€2 | |
| Recurring financial income | 75 | - | €2 | +€2 | |
| Financial charges | 65/66B | €3,780 | €3,312 | -€468 | -12.4% |
| Recurring financial charges | 65 | €3,780 | €3,312 | -€468 | -12.4% |
| Profit (loss) for the period before taxes | 9903 | €61,572 | -€24,449 | -€86,021 | |
| Income taxes | 67/77 | €15,897 | €120 | -€15,777 | -99.2% |
| Profit (loss) for the period | 9904 | €45,675 | -€24,569 | -€70,244 | |
| Profit (loss) for the period to be appropriated | 9905 | €45,675 | -€24,569 | -€70,244 |
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 15 October 2026 via checked.be.