TRY DENDERMONDE: 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.
TRY DENDERMONDE
Largest movements
- Tangible fixed assets +€1.4m
up €1.4m (+62.8%), from €2.2m to €3.5m
of which Land and buildings: +€1.3m
- Current investments -€645,316
down €645,316 (-96.5%), from €668,701 to €23,385
- Cash +€462,148
up €462,148 (+1,716%), from €26,925 to €489,073
mainly Debts after one year (+€900,000) and Current investments (+€645,316)
- Debts after one year +€900,000
new in 2025: €900,000
- Trade debts +€434,573
up €434,573 (+787%), from €55,208 to €489,781
- Reserves -€179,243
down €179,243 (-46.2%), from €387,876 to €208,632
of which Distributable reserves: -€173,227
- Gross operating margin -€138,691
down €138,691, from €2,973 to -€135,719
- Financial income -€20,641
down €20,641 (-72.7%), from €28,387 to €7,746
- Other operating charges +€14,208
up €14,208 (+188%), from €7,543 to €21,751
- Depreciation -€5,072
down €5,072 (-18.3%), from €27,794 to €22,721
- Financial charges +€4,340
up €4,340 (+3,821%), from €114 to €4,453
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 | €2,909,115 | €4,061,907 | +€1.2m | +39.6% |
| Fixed assets | 21/28 | €2,162,576 | €3,513,930 | +€1.4m | +62.5% |
| Tangible fixed assets | 22/27 | €2,151,662 | €3,503,010 | +€1.4m | +62.8% |
| Land and buildings | 22 | €2,151,662 | €3,447,262 | +€1.3m | +60.2% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | - | €55,749 | +€55,749 | |
| Financial fixed assets | 28 | €10,914 | €10,920 | +€6 | +0.1% |
| Current assets | 29/58 | €746,539 | €547,977 | -€198,562 | -26.6% |
| Amounts receivable within one year | 40/41 | €16,111 | €27,804 | +€11,693 | +72.6% |
| Trade receivables | 40 | €7,163 | €946 | -€6,217 | -86.8% |
| Other amounts receivable | 41 | €8,948 | €26,858 | +€17,910 | +200% |
| Current investments | 50/53 | €668,701 | €23,385 | -€645,316 | -96.5% |
| Cash at bank and in hand | 54/58 | €26,925 | €489,073 | +€462,148 | +1,716% |
| Deferred charges and accrued income | 490/1 | €34,802 | €7,715 | -€27,087 | -77.8% |
| Total equity and liabilities | 10/49 | €2,909,115 | €4,061,907 | +€1.2m | +39.6% |
| Equity | 10/15 | €2,793,880 | €2,612,161 | -€181,719 | -6.5% |
| Contributions | 10/11 | €2,373,000 | €2,373,000 | = | 0.0% |
| Capital | 10 | €2,373,000 | €2,373,000 | = | 0.0% |
| Issued capital | 100 | €2,373,000 | €2,373,000 | = | 0.0% |
| Reserves | 13 | €387,876 | €208,632 | -€179,243 | -46.2% |
| Non-distributable reserves | 130/1 | €70,000 | €70,000 | = | 0.0% |
| Legal reserve | 130 | €70,000 | €70,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €80,221 | €74,205 | -€6,017 | -7.5% |
| Distributable reserves | 133 | €237,654 | €64,427 | -€173,227 | -72.9% |
| Investment grants | 15 | €33,005 | €30,529 | -€2,475 | -7.5% |
| Provisions and deferred taxes | 16 | €58,303 | €53,930 | -€4,373 | -7.5% |
| Deferred taxes | 168 | €58,303 | €53,930 | -€4,373 | -7.5% |
| Amounts payable | 17/49 | €56,932 | €1,395,815 | +€1.3m | +2,352% |
| Amounts payable after more than one year | 17 | - | €900,000 | +€900,000 | |
| Other amounts payable | 178/9 | - | €900,000 | +€900,000 | |
| Amounts payable within one year | 42/48 | €56,932 | €491,505 | +€434,573 | +763% |
| Trade debts | 44 | €55,208 | €489,781 | +€434,573 | +787% |
| Suppliers | 440/4 | €55,208 | €489,781 | +€434,573 | +787% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,724 | €1,724 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €4,310 | +€4,310 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,794 | €22,721 | -€5,072 | -18.3% |
| Other operating charges | 640/8 | €7,543 | €21,751 | +€14,208 | +188% |
| Non-recurring operating charges | 66A | - | €6,718 | +€6,718 | |
| Gross operating margin | 9900 | €2,973 | -€135,719 | -€138,691 | |
| Operating profit (loss) | 9901 | -€32,364 | -€186,909 | -€154,545 | -478% |
| Financial income | 75/76B | €28,387 | €7,746 | -€20,641 | -72.7% |
| Recurring financial income | 75 | €28,387 | €7,746 | -€20,641 | -72.7% |
| Financial charges | 65/66B | €114 | €4,453 | +€4,340 | +3,821% |
| Recurring financial charges | 65 | €114 | €4,453 | +€4,340 | +3,821% |
| Profit (loss) for the period before taxes | 9903 | -€4,090 | -€183,616 | -€179,526 | -4,389% |
| Transfer from deferred taxes | 780 | €4,373 | €4,373 | = | 0.0% |
| Income taxes | 67/77 | -€46 | €0 | +€46 | |
| Profit (loss) for the period | 9904 | €328 | -€179,243 | -€179,572 | |
| Transfer from tax-exempt reserves | 789 | €6,017 | €6,017 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,345 | -€173,227 | -€179,572 |
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.