Victor DENIS: 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.
Victor DENIS
Largest movements
- Tangible fixed assets -€180,000
no longer reported in 2024 (was €180,000)
- Receivables within one year -€59,848
down €59,848 (-12.0%), from €497,994 to €438,146
of which Trade receivables: -€81,533
- Other debts -€178,707
down €178,707 (-25.5%), from €700,798 to €522,091
- Trade debts -€56,398
down €56,398 (-40.7%), from €138,459 to €82,061
- Profit (loss) carried forward -€20,580
down €20,580 (-3.8%), from -€548,373 to -€568,953
- Accrued charges and deferred income +€12,379
up €12,379 (+78.4%), from €15,796 to €28,176
- Write-downs -€34,543
down €34,543, from €18,906 to -€15,637
- Other operating charges +€26,234
up €26,234 (+775%), from €3,386 to €29,619
- Financial charges +€17,089
up €17,089 (+150%), from €11,359 to €28,448
- Gross operating margin -€1,779
down €1,779 (-17.4%), from €10,200 to €8,421
- Taxes +€1,402
no longer reported in 2024 (was -€1,402)
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €690,314 | €451,576 | -€238,739 | -34.6% |
| Fixed assets | 21/28 | €180,062 | - | -€180,062 | |
| Tangible fixed assets | 22/27 | €180,000 | - | -€180,000 | |
| Land and buildings | 22 | €180,000 | - | -€180,000 | |
| Financial fixed assets | 28 | €62 | - | -€62 | |
| Current assets | 29/58 | €510,252 | €451,576 | -€58,677 | -11.5% |
| Amounts receivable within one year | 40/41 | €497,994 | €438,146 | -€59,848 | -12.0% |
| Trade receivables | 40 | €117,874 | €36,341 | -€81,533 | -69.2% |
| Other amounts receivable | 41 | €380,120 | €401,805 | +€21,685 | +5.7% |
| Cash at bank and in hand | 54/58 | €33 | €0 | -€33 | -99.8% |
| Deferred charges and accrued income | 490/1 | €12,225 | €13,429 | +€1,204 | +9.8% |
| Total equity and liabilities | 10/49 | €690,314 | €451,576 | -€238,739 | -34.6% |
| Equity | 10/15 | -€227,386 | -€247,965 | -€20,580 | -9.1% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Capital | 10 | €75,000 | €75,000 | = | 0.0% |
| Issued capital | 100 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €245,987 | €245,987 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,500 | €7,500 | = | 0.0% |
| Legal reserve | 130 | €7,500 | €7,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €150,000 | €150,000 | = | 0.0% |
| Distributable reserves | 133 | €88,487 | €88,487 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€548,373 | -€568,953 | -€20,580 | -3.8% |
| Amounts payable | 17/49 | €917,700 | €699,541 | -€218,159 | -23.8% |
| Amounts payable within one year | 42/48 | €901,904 | €671,365 | -€230,538 | -25.6% |
| Current portion of amounts payable after more than one year | 42 | €62,351 | €62,351 | = | 0.0% |
| Financial debts | 43 | - | €108 | +€108 | |
| Credit institutions | 430/8 | - | €108 | +€108 | |
| Trade debts | 44 | €138,459 | €82,061 | -€56,398 | -40.7% |
| Suppliers | 440/4 | €138,459 | €82,061 | -€56,398 | -40.7% |
| Taxes, remuneration and social security | 45 | €296 | €4,755 | +€4,459 | +1,506% |
| Taxes | 450/3 | €296 | €4,755 | +€4,459 | +1,506% |
| Other amounts payable | 47/48 | €700,798 | €522,091 | -€178,707 | -25.5% |
| Accrued charges and deferred income | 492/3 | €15,796 | €28,176 | +€12,379 | +78.4% |
| Non-recurring operating income | 76A | €19,386 | €4,576 | -€14,810 | -76.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €18,906 | -€15,637 | -€34,543 | |
| Other operating charges | 640/8 | €3,386 | €29,619 | +€26,234 | +775% |
| Gross operating margin | 9900 | €10,200 | €8,421 | -€1,779 | -17.4% |
| Operating profit (loss) | 9901 | -€12,092 | -€5,561 | +€6,531 | +54.0% |
| Financial income | 75/76B | €12,280 | €13,429 | +€1,149 | +9.4% |
| Recurring financial income | 75 | €12,280 | €13,429 | +€1,149 | +9.4% |
| Financial charges | 65/66B | €11,359 | €28,448 | +€17,089 | +150% |
| Recurring financial charges | 65 | €11,359 | €28,448 | +€17,089 | +150% |
| Profit (loss) for the period before taxes | 9903 | -€11,171 | -€20,580 | -€9,409 | -84.2% |
| Income taxes | 67/77 | -€1,402 | - | +€1,402 | |
| Profit (loss) for the period | 9904 | -€9,768 | -€20,580 | -€10,811 | -111% |
| Profit (loss) for the period to be appropriated | 9905 | -€9,768 | -€20,580 | -€10,811 | -111% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.