DENO: what changed
What changed
DENO
NACE 70.200, Business and other management consultancy
filed annual accounts (NBB)
Net result for the year
€67,860
2024 · €172,984-€105,124
Equity
€6.3m
2024 · €6.2m+€67,860
Cash
€58,223
2024 · €198,909-€140,685
Balance sheet total
€6.3m
2024 · €6.3m+€86,136
Largest movements
Assets
- Current investments +€1.0m
up €1.0m (+42.1%), from €2.5m to €3.5m
- Receivables within one year -€1.0m
down €1.0m (-41.1%), from €2.5m to €1.4m
of which Other amounts receivable: -€1.0m
- Cash -€140,685
down €140,685 (-70.7%), from €198,909 to €58,223
mainly Current investments (-€1.0m) and Investment in fixed assets (net) (-€170,280)
- Tangible fixed assets +€136,082
up €136,082 (+13.0%), from €1.0m to €1.2m
of which Land and buildings: +€134,673
Equity and liabilities
- Reserves +€67,860
up €67,860 (+1.1%), from €6.2m to €6.3m
of which Distributable reserves: +€67,860
Income statement
- Financial charges +€100,824
up €100,824 (+388%), from €26,014 to €126,838
- Gross operating margin +€40,411
up €40,411 (+51.9%), from -€77,888 to -€37,478
- Taxes +€34,889
up €34,889 (+68.2%), from €51,169 to €86,058
- Financial income -€13,643
down €13,643 (-3.7%), from €371,869 to €358,226
- Other operating charges -€3,057
down €3,057 (-34.5%), from €8,852 to €5,795
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€172,984
Gross operating margin
+€40,411
Depreciation
-€1,585
Other operating charges
+€3,057
Other operating items
+€2,349
Financial income
-€13,643
Financial charges
-€100,824
Taxes
-€34,889
Result 2025
€67,860
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€1.1m
Investment
-€1.2m
Financing
-€2,072
Cash 2024
€198,909
From operations (derived)
+€1.1m
Net result for the year
+€67,860
Depreciation
+€34,198
Receivables within one year
+€1.0m
Deferred charges and accrued income
-€49,682
Smaller working-capital items
+€2,083
Tax, wage and social debts
+€18,264
Investment (derived)
-€1.2m
Investment in fixed assets (net)
-€170,280
Current investments
-€1.0m
Financing
-€2,072
Short-term financial debts
-€2,072
Cash 2025
€58,223
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,259,646 | €6,345,782 | +€86,136 | +1.4% |
| Fixed assets | 21/28 | €1,047,273 | €1,183,355 | +€136,082 | +13.0% |
| Tangible fixed assets | 22/27 | €1,047,273 | €1,183,355 | +€136,082 | +13.0% |
| Land and buildings | 22 | €638,039 | €772,712 | +€134,673 | +21.1% |
| Plant, machinery and equipment | 23 | €379,000 | €379,000 | = | 0.0% |
| Furniture and vehicles | 24 | €30,234 | €31,643 | +€1,409 | +4.7% |
| Current assets | 29/58 | €5,212,374 | €5,162,427 | -€49,947 | -1.0% |
| Amounts receivable within one year | 40/41 | €2,452,874 | €1,445,353 | -€1.0m | -41.1% |
| Trade receivables | 40 | €7,260 | €26,620 | +€19,360 | +267% |
| Other amounts receivable | 41 | €2,445,614 | €1,418,733 | -€1.0m | -42.0% |
| Current investments | 50/53 | €2,492,179 | €3,540,756 | +€1.0m | +42.1% |
| Cash at bank and in hand | 54/58 | €198,909 | €58,223 | -€140,685 | -70.7% |
| Deferred charges and accrued income | 490/1 | €68,412 | €118,095 | +€49,682 | +72.6% |
| Total equity and liabilities | 10/49 | €6,259,646 | €6,345,782 | +€86,136 | +1.4% |
| Equity | 10/15 | €6,241,754 | €6,309,615 | +€67,860 | +1.1% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €6,216,754 | €6,284,615 | +€67,860 | +1.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €56,250 | €56,250 | = | 0.0% |
| Distributable reserves | 133 | €6,160,504 | €6,228,365 | +€67,860 | +1.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €17,892 | €36,167 | +€18,275 | +102% |
| Amounts payable within one year | 42/48 | €17,203 | €36,043 | +€18,840 | +110% |
| Financial debts | 43 | €2,072 | €0 | -€2,072 | -100% |
| Credit institutions | 430/8 | €2,072 | €0 | -€2,072 | -100% |
| Trade debts | 44 | €12,859 | €15,097 | +€2,238 | +17.4% |
| Suppliers | 440/4 | €12,859 | €15,097 | +€2,238 | +17.4% |
| Taxes, remuneration and social security | 45 | €501 | €18,765 | +€18,264 | +3,648% |
| Taxes | 450/3 | €501 | €18,765 | +€18,264 | +3,648% |
| Other amounts payable | 47/48 | €1,771 | €2,181 | +€410 | +23.2% |
| Accrued charges and deferred income | 492/3 | €689 | €124 | -€565 | -82.0% |
| Non-recurring operating income | 76A | €0 | €11,765 | +€11,765 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,613 | €34,198 | +€1,585 | +4.9% |
| Other operating charges | 640/8 | €8,852 | €5,795 | -€3,057 | -34.5% |
| Non-recurring operating charges | 66A | €2,349 | €0 | -€2,349 | -100% |
| Gross operating margin | 9900 | -€77,888 | -€37,478 | +€40,411 | +51.9% |
| Operating profit (loss) | 9901 | -€121,702 | -€77,470 | +€44,232 | +36.3% |
| Financial income | 75/76B | €371,869 | €358,226 | -€13,643 | -3.7% |
| Recurring financial income | 75 | €371,869 | €358,226 | -€13,643 | -3.7% |
| Financial charges | 65/66B | €26,014 | €126,838 | +€100,824 | +388% |
| Recurring financial charges | 65 | €26,014 | €126,838 | +€100,824 | +388% |
| Profit (loss) for the period before taxes | 9903 | €224,153 | €153,918 | -€70,235 | -31.3% |
| Income taxes | 67/77 | €51,169 | €86,058 | +€34,889 | +68.2% |
| Profit (loss) for the period | 9904 | €172,984 | €67,860 | -€105,124 | -60.8% |
| Profit (loss) for the period to be appropriated | 9905 | €172,984 | €67,860 | -€105,124 | -60.8% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.