DENYS BUILD: 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.
DENYS BUILD
Largest movements
- Stocks and contracts +€286,250
up €286,250 (+254%), from €112,500 to €398,750
- Receivables within one year -€62,187
down €62,187 (-5.3%), from €1.2m to €1.1m
of which Trade receivables: -€63,431
- Cash +€54,163
up €54,163 (+3,974%), from €1,363 to €55,526
mainly Advances received (+€211,690) and Debts after one year (+€75,000)
- Tangible fixed assets +€25,716
up €25,716 (+1,496%), from €1,719 to €27,435
of which Furniture and vehicles: +€26,152
- Advances received +€211,690
up €211,690 (+22.3%), from €948,377 to €1.2m
- Debts after one year +€75,000
new in 2025: €75,000
- Profit (loss) carried forward -€37,297
down €37,297 (-35.7%), from -€104,399 to -€141,696
- Trade debts +€36,907
up €36,907 (+19.8%), from €186,117 to €223,024
- Tax, wage and social debts +€36,336
up €36,336 (+1,522%), from €2,388 to €38,724
- Taxes +€31,133
up €31,133 (+409%), from €7,617 to €38,750
- Other operating charges +€7,399
up €7,399 (+489%), from €1,514 to €8,913
- Gross operating margin +€3,892
up €3,892 (+28.2%), from €13,809 to €17,701
- Depreciation +€3,246
up €3,246 (+313%), from €1,038 to €4,284
- Financial charges +€1,216
up €1,216 (+63.4%), from €1,918 to €3,134
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 | €1,298,483 | €1,602,869 | +€304,386 | +23.4% |
| Fixed assets | 21/28 | €5,756 | €31,472 | +€25,716 | +447% |
| Tangible fixed assets | 22/27 | €1,719 | €27,435 | +€25,716 | +1,496% |
| Plant, machinery and equipment | 23 | €436 | - | -€436 | |
| Furniture and vehicles | 24 | €1,283 | €27,435 | +€26,152 | +2,038% |
| Financial fixed assets | 28 | €4,037 | €4,037 | = | 0.0% |
| Current assets | 29/58 | €1,292,727 | €1,571,397 | +€278,670 | +21.6% |
| Stocks and contracts in progress | 3 | €112,500 | €398,750 | +€286,250 | +254% |
| Contracts in progress | 37 | €112,500 | €398,750 | +€286,250 | +254% |
| Amounts receivable within one year | 40/41 | €1,178,864 | €1,116,677 | -€62,187 | -5.3% |
| Trade receivables | 40 | €1,116,730 | €1,053,299 | -€63,431 | -5.7% |
| Other amounts receivable | 41 | €62,134 | €63,378 | +€1,244 | +2.0% |
| Cash at bank and in hand | 54/58 | €1,363 | €55,526 | +€54,163 | +3,974% |
| Deferred charges and accrued income | 490/1 | - | €444 | +€444 | |
| Total equity and liabilities | 10/49 | €1,298,483 | €1,602,869 | +€304,386 | +23.4% |
| Equity | 10/15 | -€10,914 | -€48,211 | -€37,297 | -342% |
| Contributions | 10/11 | €91,721 | €91,721 | = | 0.0% |
| Capital | 10 | €91,721 | €91,721 | = | 0.0% |
| Issued capital | 100 | €91,721 | €91,721 | = | 0.0% |
| Reserves | 13 | €1,764 | €1,764 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,764 | €1,764 | = | 0.0% |
| Legal reserve | 130 | €1,764 | €1,764 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€104,399 | -€141,696 | -€37,297 | -35.7% |
| Amounts payable | 17/49 | €1,309,397 | €1,651,080 | +€341,683 | +26.1% |
| Amounts payable after more than one year | 17 | - | €75,000 | +€75,000 | |
| Financial debts | 170/4 | - | €75,000 | +€75,000 | |
| Amounts payable within one year | 42/48 | €1,291,397 | €1,576,080 | +€284,683 | +22.0% |
| Trade debts | 44 | €186,117 | €223,024 | +€36,907 | +19.8% |
| Suppliers | 440/4 | €186,117 | €223,024 | +€36,907 | +19.8% |
| Advances received on contracts in progress | 46 | €948,377 | €1,160,067 | +€211,690 | +22.3% |
| Taxes, remuneration and social security | 45 | €2,388 | €38,724 | +€36,336 | +1,522% |
| Taxes | 450/3 | €2,388 | €38,724 | +€36,336 | +1,522% |
| Other amounts payable | 47/48 | €154,515 | €154,265 | -€250 | -0.2% |
| Accrued charges and deferred income | 492/3 | €18,000 | - | -€18,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,038 | €4,284 | +€3,246 | +313% |
| Other operating charges | 640/8 | €1,514 | €8,913 | +€7,399 | +489% |
| Gross operating margin | 9900 | €13,809 | €17,701 | +€3,892 | +28.2% |
| Operating profit (loss) | 9901 | €11,257 | €4,504 | -€6,753 | -60.0% |
| Financial income | 75/76B | - | €82 | +€82 | |
| Recurring financial income | 75 | - | €82 | +€82 | |
| Financial charges | 65/66B | €1,918 | €3,134 | +€1,216 | +63.4% |
| Recurring financial charges | 65 | €1,918 | €3,134 | +€1,216 | +63.4% |
| Profit (loss) for the period before taxes | 9903 | €9,339 | €1,452 | -€7,887 | -84.5% |
| Income taxes | 67/77 | €7,617 | €38,750 | +€31,133 | +409% |
| Profit (loss) for the period | 9904 | €1,722 | -€37,298 | -€39,020 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,722 | -€37,298 | -€39,020 |
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 16 October 2026 via checked.be.