Het DENKhuis: 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.
Het DENKhuis
Largest movements
- Stocks and contracts +€73,850
up €73,850 (+23.8%), from €310,800 to €384,650
- Intangible fixed assets -€65,737
down €65,737 (-17.1%), from €383,403 to €317,665
- Cash -€13,005
down €13,005 (-57.2%), from €22,723 to €9,719
mainly Stocks and contracts (-€73,850) and Tax, wage and social debts (-€35,549)
- Receivables within one year +€12,866
up €12,866 (+5.7%), from €227,570 to €240,436
of which Trade receivables: +€14,253
- Debts after one year +€41,238
up €41,238 (+7.6%), from €545,051 to €586,288
of which Other amounts payable: +€242,603
- Tax, wage and social debts -€35,549
down €35,549 (-45.4%), from €78,358 to €42,809
of which Remuneration and social security: -€25,166
- Trade debts -€12,829
down €12,829 (-14.7%), from €87,104 to €74,275
- Staff costs -€66,604
down €66,604 (-30.4%), from €219,264 to €152,660
- Gross operating margin -€56,513
down €56,513 (-16.8%), from €337,202 to €280,689
- Financial charges +€13,855
up €13,855 (+39.0%), from €35,529 to €49,384
- Taxes -€11,144
down €11,144 (-100.0%), from €11,145 to €0
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 | €1,055,903 | €1,057,146 | +€1,242 | +0.1% |
| Fixed assets | 21/28 | €396,089 | €324,043 | -€72,046 | -18.2% |
| Intangible fixed assets | 21 | €383,403 | €317,665 | -€65,737 | -17.1% |
| Tangible fixed assets | 22/27 | €11,558 | €5,250 | -€6,309 | -54.6% |
| Plant, machinery and equipment | 23 | €737 | €219 | -€519 | -70.3% |
| Furniture and vehicles | 24 | €10,821 | €5,031 | -€5,790 | -53.5% |
| Financial fixed assets | 28 | €1,128 | €1,128 | = | 0.0% |
| Current assets | 29/58 | €659,814 | €733,103 | +€73,289 | +11.1% |
| Stocks and contracts in progress | 3 | €310,800 | €384,650 | +€73,850 | +23.8% |
| Contracts in progress | 37 | €310,800 | €384,650 | +€73,850 | +23.8% |
| Amounts receivable within one year | 40/41 | €227,570 | €240,436 | +€12,866 | +5.7% |
| Trade receivables | 40 | €204,602 | €218,855 | +€14,253 | +7.0% |
| Other amounts receivable | 41 | €22,968 | €21,580 | -€1,387 | -6.0% |
| Cash at bank and in hand | 54/58 | €22,723 | €9,719 | -€13,005 | -57.2% |
| Deferred charges and accrued income | 490/1 | €98,721 | €98,298 | -€423 | -0.4% |
| Total equity and liabilities | 10/49 | €1,055,903 | €1,057,146 | +€1,242 | +0.1% |
| Equity | 10/15 | -€33,136 | -€30,328 | +€2,807 | +8.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€53,596 | -€50,788 | +€2,807 | +5.2% |
| Amounts payable | 17/49 | €1,089,039 | €1,087,474 | -€1,565 | -0.1% |
| Amounts payable after more than one year | 17 | €545,051 | €586,288 | +€41,238 | +7.6% |
| Financial debts | 170/4 | €255,051 | €53,685 | -€201,366 | -79.0% |
| Other amounts payable | 178/9 | €290,000 | €532,603 | +€242,603 | +83.7% |
| Amounts payable within one year | 42/48 | €543,604 | €500,992 | -€42,613 | -7.8% |
| Current portion of amounts payable after more than one year | 42 | €165,696 | €175,253 | +€9,556 | +5.8% |
| Financial debts | 43 | €15 | €7 | -€8 | -52.7% |
| Credit institutions | 430/8 | €15 | €7 | -€8 | -52.7% |
| Trade debts | 44 | €87,104 | €74,275 | -€12,829 | -14.7% |
| Suppliers | 440/4 | €87,104 | €74,275 | -€12,829 | -14.7% |
| Taxes, remuneration and social security | 45 | €78,358 | €42,809 | -€35,549 | -45.4% |
| Taxes | 450/3 | €41,578 | €31,195 | -€10,383 | -25.0% |
| Remuneration and social security | 454/9 | €36,780 | €11,613 | -€25,166 | -68.4% |
| Other amounts payable | 47/48 | €212,431 | €208,648 | -€3,783 | -1.8% |
| Accrued charges and deferred income | 492/3 | €384 | €194 | -€190 | -49.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €219,264 | €152,660 | -€66,604 | -30.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,784 | €72,046 | +€2,262 | +3.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €1,811 | €4,776 | +€2,965 | +164% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €337,202 | €280,689 | -€56,513 | -16.8% |
| Operating profit (loss) | 9901 | €46,342 | €51,207 | +€4,865 | +10.5% |
| Financial income | 75/76B | €4,314 | €985 | -€3,329 | -77.2% |
| Recurring financial income | 75 | €4,314 | €985 | -€3,329 | -77.2% |
| Financial charges | 65/66B | €35,529 | €49,384 | +€13,855 | +39.0% |
| Recurring financial charges | 65 | €35,529 | €49,384 | +€13,855 | +39.0% |
| Profit (loss) for the period before taxes | 9903 | €15,127 | €2,808 | -€12,320 | -81.4% |
| Income taxes | 67/77 | €11,145 | €0 | -€11,144 | -100.0% |
| Profit (loss) for the period | 9904 | €3,983 | €2,807 | -€1,175 | -29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €3,983 | €2,807 | -€1,175 | -29.5% |
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 23 October 2026 via checked.be.