M.DENYS: 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.
M.DENYS
Largest movements
- Deferred charges and accrued income +€41,960
up €41,960 (+17.4%), from €241,420 to €283,380
- Receivables within one year -€21,258
down €21,258 (-3.8%), from €553,343 to €532,085
of which Other amounts receivable: -€16,897
- Other debts +€21,000
up €21,000 (+16.2%), from €130,000 to €151,000
- Profit (loss) carried forward +€15,227
up €15,227 (+5.0%), from €303,509 to €318,736
- Short-term financial debts -€8,568
down €8,568 (-35.3%), from €24,251 to €15,683
- Gross operating margin +€2,356
up €2,356 (+6.7%), from €34,972 to €37,328
- Depreciation -€614
down €614 (-12.9%), from €4,760 to €4,146
From the 2021 result to the 2022 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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2021 | 2022 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €806,391 | €822,947 | +€16,556 | +2.1% |
| Fixed assets | 21/28 | €11,628 | €7,482 | -€4,146 | -35.7% |
| Tangible fixed assets | 22/27 | €11,628 | €7,482 | -€4,146 | -35.7% |
| Land and buildings | 22 | €1,853 | €1,134 | -€719 | -38.8% |
| Plant, machinery and equipment | 23 | €1,013 | €507 | -€506 | -50.0% |
| Furniture and vehicles | 24 | €8,762 | €5,841 | -€2,921 | -33.3% |
| Current assets | 29/58 | €794,763 | €815,465 | +€20,702 | +2.6% |
| Amounts receivable within one year | 40/41 | €553,343 | €532,085 | -€21,258 | -3.8% |
| Trade receivables | 40 | €17,167 | €12,806 | -€4,361 | -25.4% |
| Other amounts receivable | 41 | €536,176 | €519,279 | -€16,897 | -3.2% |
| Deferred charges and accrued income | 490/1 | €241,420 | €283,380 | +€41,960 | +17.4% |
| Total equity and liabilities | 10/49 | €806,391 | €822,947 | +€16,556 | +2.1% |
| Equity | 10/15 | €311,569 | €326,796 | +€15,227 | +4.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €303,509 | €318,736 | +€15,227 | +5.0% |
| Provisions and deferred taxes | 16 | €274,562 | €274,562 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €274,562 | €274,562 | = | 0.0% |
| Pensions and similar obligations | 160 | €274,562 | €274,562 | = | 0.0% |
| Amounts payable | 17/49 | €220,260 | €221,589 | +€1,329 | +0.6% |
| Amounts payable within one year | 42/48 | €212,400 | €221,589 | +€9,189 | +4.3% |
| Financial debts | 43 | €24,251 | €15,683 | -€8,568 | -35.3% |
| Credit institutions | 430/8 | €24,251 | €15,683 | -€8,568 | -35.3% |
| Trade debts | 44 | €7,929 | €3,982 | -€3,947 | -49.8% |
| Suppliers | 440/4 | €7,929 | €3,982 | -€3,947 | -49.8% |
| Taxes, remuneration and social security | 45 | €50,220 | €50,924 | +€704 | +1.4% |
| Taxes | 450/3 | €50,220 | €50,924 | +€704 | +1.4% |
| Other amounts payable | 47/48 | €130,000 | €151,000 | +€21,000 | +16.2% |
| Accrued charges and deferred income | 492/3 | €7,860 | - | -€7,860 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,760 | €4,146 | -€614 | -12.9% |
| Other operating charges | 640/8 | €2,381 | €2,109 | -€272 | -11.4% |
| Gross operating margin | 9900 | €34,972 | €37,328 | +€2,356 | +6.7% |
| Operating profit (loss) | 9901 | €27,831 | €31,073 | +€3,242 | +11.6% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €4,130 | €3,847 | -€283 | -6.9% |
| Recurring financial charges | 65 | €4,130 | €3,847 | -€283 | -6.9% |
| Profit (loss) for the period before taxes | 9903 | €23,701 | €27,227 | +€3,526 | +14.9% |
| Income taxes | 67/77 | €12,000 | €12,000 | = | 0.0% |
| Profit (loss) for the period | 9904 | €11,701 | €15,227 | +€3,526 | +30.1% |
| Profit (loss) for the period to be appropriated | 9905 | €11,701 | €15,227 | +€3,526 | +30.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2021 and 31 December 2022. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.