IMMO DENYVE: 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.
What changed
IMMO DENYVE
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€13,051
2024 · €400,036-€413,087
Equity
€5.5m
2024 · €5.5m-€13,051
Cash
€29
2024 · €1,160-€1,131
Balance sheet total
€9.4m
2024 · €9.0m+€451,828
Largest movements
Assets
- Receivables within one year +€521,050
up €521,050 (+34.5%), from €1.5m to €2.0m
Equity and liabilities
- Short-term financial debts +€499,400
up €499,400 (+142%), from €350,600 to €850,000
- Debts after one year -€164,778
down €164,778 (-8.2%), from €2.0m to €1.8m
- Current portion of long-term debt +€133,567
up €133,567 (+174%), from €76,659 to €210,226
Income statement
- Gross operating margin -€522,052
down €522,052 (-73.1%), from €714,279 to €192,228
- Financial charges +€38,282
up €38,282 (+55.3%), from €69,278 to €107,559
- Other operating charges -€20,567
down €20,567 (-45.7%), from €45,018 to €24,451
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.
Result 2024
€400,036
Gross operating margin
-€522,052
Depreciation
+€565
Other operating charges
+€20,567
Financial charges
-€38,282
Taxes
+€3,706
Deferred taxes and other
+€122,408
Result 2025
-€13,051
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€469,320
Investment
€0
Financing
+€468,189
Cash 2024
€1,160
From operations (derived)
-€469,320
Net result for the year
-€13,051
Depreciation
+€68,092
Receivables within one year
-€521,050
Provisions
-€3,694
Trade debts
+€39,984
Tax, wage and social debts
-€17,206
Other debts
-€21,344
Accrued charges and deferred income
-€1,050
Financing
+€468,189
Debts after one year
-€164,778
Current portion of long-term debt
+€133,567
Short-term financial debts
+€499,400
Cash 2025
€29
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,997,500 | €9,449,328 | +€451,828 | +5.0% |
| Fixed assets | 21/28 | €6,768,830 | €6,700,739 | -€68,092 | -1.0% |
| Tangible fixed assets | 22/27 | €2,750,584 | €2,682,493 | -€68,092 | -2.5% |
| Land and buildings | 22 | €2,750,584 | €2,682,493 | -€68,092 | -2.5% |
| Financial fixed assets | 28 | €4,018,246 | €4,018,246 | = | 0.0% |
| Current assets | 29/58 | €2,228,670 | €2,748,589 | +€519,919 | +23.3% |
| Amounts receivable after more than one year | 29 | €580,000 | €580,000 | = | 0.0% |
| Trade receivables | 290 | €580,000 | €580,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,512,219 | €2,033,270 | +€521,050 | +34.5% |
| Other amounts receivable | 41 | €1,512,219 | €2,033,270 | +€521,050 | +34.5% |
| Cash at bank and in hand | 54/58 | €1,160 | €29 | -€1,131 | -97.5% |
| Deferred charges and accrued income | 490/1 | €135,291 | €135,291 | = | 0.0% |
| Total equity and liabilities | 10/49 | €8,997,500 | €9,449,328 | +€451,828 | +5.0% |
| Equity | 10/15 | €5,514,190 | €5,501,139 | -€13,051 | -0.2% |
| Contributions | 10/11 | €1,847,000 | €1,847,000 | = | 0.0% |
| Capital | 10 | €1,847,000 | €1,847,000 | = | 0.0% |
| Issued capital | 100 | €1,847,000 | €1,847,000 | = | 0.0% |
| Reserves | 13 | €2,853,060 | €2,841,977 | -€11,083 | -0.4% |
| Non-distributable reserves | 130/1 | €184,700 | €184,700 | = | 0.0% |
| Legal reserve | 130 | €184,700 | €184,700 | = | 0.0% |
| Tax-exempt reserves | 132 | €1,050,550 | €1,039,467 | -€11,083 | -1.1% |
| Distributable reserves | 133 | €1,617,810 | €1,617,810 | = | 0.0% |
| Profit (loss) carried forward | 14 | €814,129 | €812,162 | -€1,967 | -0.2% |
| Provisions and deferred taxes | 16 | €350,183 | €346,489 | -€3,694 | -1.1% |
| Deferred taxes | 168 | €350,183 | €346,489 | -€3,694 | -1.1% |
| Amounts payable | 17/49 | €3,133,127 | €3,601,700 | +€468,573 | +15.0% |
| Amounts payable after more than one year | 17 | €2,010,945 | €1,846,167 | -€164,778 | -8.2% |
| Financial debts | 170/4 | €2,010,945 | €1,846,167 | -€164,778 | -8.2% |
| Amounts payable within one year | 42/48 | €1,121,132 | €1,755,533 | +€634,401 | +56.6% |
| Current portion of amounts payable after more than one year | 42 | €76,659 | €210,226 | +€133,567 | +174% |
| Financial debts | 43 | €350,600 | €850,000 | +€499,400 | +142% |
| Credit institutions | 430/8 | €350,600 | €850,000 | +€499,400 | +142% |
| Trade debts | 44 | €30,725 | €70,709 | +€39,984 | +130% |
| Suppliers | 440/4 | €30,725 | €70,709 | +€39,984 | +130% |
| Taxes, remuneration and social security | 45 | €48,812 | €31,607 | -€17,206 | -35.2% |
| Taxes | 450/3 | €48,812 | €31,607 | -€17,206 | -35.2% |
| Other amounts payable | 47/48 | €614,336 | €592,992 | -€21,344 | -3.5% |
| Accrued charges and deferred income | 492/3 | €1,050 | - | -€1,050 | |
| Non-recurring operating income | 76A | €489,633 | - | -€489,633 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,657 | €68,092 | -€565 | -0.8% |
| Other operating charges | 640/8 | €45,018 | €24,451 | -€20,567 | -45.7% |
| Gross operating margin | 9900 | €714,279 | €192,228 | -€522,052 | -73.1% |
| Operating profit (loss) | 9901 | €600,604 | €99,685 | -€500,919 | -83.4% |
| Financial charges | 65/66B | €69,278 | €107,559 | +€38,282 | +55.3% |
| Recurring financial charges | 65 | €69,278 | €107,559 | +€38,282 | +55.3% |
| Profit (loss) for the period before taxes | 9903 | €531,327 | -€7,874 | -€539,201 | |
| Transfer from deferred taxes | 780 | €3,694 | €3,694 | = | 0.0% |
| Transfer to deferred taxes | 680 | €122,408 | - | -€122,408 | |
| Income taxes | 67/77 | €12,577 | €8,871 | -€3,706 | -29.5% |
| Profit (loss) for the period | 9904 | €400,036 | -€13,051 | -€413,087 | |
| Transfer from tax-exempt reserves | 789 | €11,083 | €11,083 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €367,225 | - | -€367,225 | |
| Profit (loss) for the period to be appropriated | 9905 | €43,894 | -€1,967 | -€45,862 |
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 18 October 2026 via checked.be.