P. DENS & C°: what changed
Two fiscal 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.
P. DENS & C°
Largest movements
- Current investments +€1.1m
up €1.1m (+202.0%), from €553,696 to €1.7m
- Cash -€121,782
down €121,782 (-77.3%), from €157,616 to €35,834
mainly Current investments (-€1.1m) and Receivables within one year (-€121,504)
- Receivables within one year +€121,504
up €121,504 (+2493.7%), from €4,872 to €126,376
of which Other amounts receivable: +€125,258
- Tangible fixed assets -€58,044
no longer reported in 2025 (was €58,044)
of which Furniture and vehicles: -€32,281
- Reserves +€1.1m
up €1.1m (+203.2%), from €537,072 to €1.6m
of which Distributable reserves: +€1.1m
- Other debts -€96,434
no longer reported in 2025 (was €96,434)
- Tax, wage and social debts +€42,201
up €42,201 (+61.4%), from €68,722 to €110,923
of which Taxes: +€77,967
- Trade debts +€33,203
new in 2025: €33,203
- Gross operating margin +€1.2m
up €1.2m (+203.7%), from €577,477 to €1.8m
- Taxes +€413,511
up €413,511 (+444.5%), from €93,030 to €506,542
- Staff costs -€130,764
down €130,764 (-47.2%), from €277,247 to €146,483
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.
Cash bridge derived
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 | €774,228 | €1,840,339 | +€1.1m | +137.7% |
| Fixed assets | 21/28 | €58,044 | - | -€58,044 | |
| Tangible fixed assets | 22/27 | €58,044 | - | -€58,044 | |
| Land and buildings | 22 | €23,519 | - | -€23,519 | |
| Plant, machinery and equipment | 23 | €2,243 | - | -€2,243 | |
| Furniture and vehicles | 24 | €32,281 | - | -€32,281 | |
| Current assets | 29/58 | €716,184 | €1,840,339 | +€1.1m | +157.0% |
| Amounts receivable within one year | 40/41 | €4,872 | €126,376 | +€121,504 | +2493.7% |
| Trade receivables | 40 | €4,872 | €1,119 | -€3,754 | -77.0% |
| Other amounts receivable | 41 | - | €125,258 | +€125,258 | |
| Current investments | 50/53 | €553,696 | €1,672,188 | +€1.1m | +202.0% |
| Cash at bank and in hand | 54/58 | €157,616 | €35,834 | -€121,782 | -77.3% |
| Deferred charges and accrued income | 490/1 | - | €5,941 | +€5,941 | |
| Total equity and liabilities | 10/49 | €774,228 | €1,840,339 | +€1.1m | +137.7% |
| Equity | 10/15 | €599,072 | €1,690,620 | +€1.1m | +182.2% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €537,072 | €1,628,620 | +€1.1m | +203.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €530,872 | €1,622,420 | +€1.1m | +205.6% |
| Amounts payable | 17/49 | €175,156 | €149,718 | -€25,437 | -14.5% |
| Amounts payable within one year | 42/48 | €175,156 | €144,126 | -€31,030 | -17.7% |
| Current portion of amounts payable after more than one year | 42 | €10,000 | - | -€10,000 | |
| Trade debts | 44 | - | €33,203 | +€33,203 | |
| Suppliers | 440/4 | - | €33,203 | +€33,203 | |
| Taxes, remuneration and social security | 45 | €68,722 | €110,923 | +€42,201 | +61.4% |
| Taxes | 450/3 | €32,955 | €110,923 | +€77,967 | +236.6% |
| Remuneration and social security | 454/9 | €35,766 | - | -€35,766 | |
| Other amounts payable | 47/48 | €96,434 | - | -€96,434 | |
| Accrued charges and deferred income | 492/3 | - | €5,592 | +€5,592 | |
| Non-recurring operating income | 76A | - | €1,373,967 | +€1.4m | |
| Remuneration, social security and pensions | 62 | €277,247 | €146,483 | -€130,764 | -47.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,332 | - | -€16,332 | |
| Other operating charges | 640/8 | €2,860 | €10,342 | +€7,481 | +261.6% |
| Non-recurring operating charges | 66A | - | €15,453 | +€15,453 | |
| Gross operating margin | 9900 | €577,477 | €1,753,815 | +€1.2m | +203.7% |
| Operating profit (loss) | 9901 | €281,038 | €1,581,538 | +€1.3m | +462.7% |
| Financial income | 75/76B | €17,112 | €19,102 | +€1,990 | +11.6% |
| Recurring financial income | 75 | €17,112 | €19,102 | +€1,990 | +11.6% |
| Financial charges | 65/66B | €1,856 | €2,550 | +€694 | +37.4% |
| Recurring financial charges | 65 | €1,856 | €2,550 | +€694 | +37.4% |
| Profit (loss) for the period before taxes | 9903 | €296,293 | €1,598,090 | +€1.3m | +439.4% |
| Income taxes | 67/77 | €93,030 | €506,542 | +€413,511 | +444.5% |
| Profit (loss) for the period | 9904 | €203,263 | €1,091,548 | +€888,285 | +437.0% |
| Profit (loss) for the period to be appropriated | 9905 | €203,263 | €1,091,548 | +€888,285 | +437.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.