DENEVE CONSTRUCT: 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.
What changed
DENEVE CONSTRUCT
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€120,737
2024 · €13,720-€134,457
Equity
€391,685
2024 · €512,421-€120,737
Cash
€386,902
2024 · €929,337-€542,436
Balance sheet total
€7.8m
2024 · €7.7m+€73,660
Largest movements
Assets
- Stocks and contracts +€667,669
up €667,669 (+11.0%), from €6.0m to €6.7m
- Cash -€542,436
down €542,436 (-58.4%), from €929,337 to €386,902
mainly Other debts (-€2.0m) and Stocks and contracts (-€667,669)
Equity and liabilities
- Other debts -€2.0m
down €2.0m (-38.8%), from €5.3m to €3.2m
- Current portion of long-term debt +€1.1m
up €1.1m (+16,177%), from €6,552 to €1.1m
- Short-term financial debts +€874,977
up €874,977 (+175%), from €500,000 to €1.4m
- Trade debts +€207,022
up €207,022 (+16.0%), from €1.3m to €1.5m
- Profit (loss) carried forward -€120,737
down €120,737 (-24.2%), from €498,161 to €377,425
Income statement
- Turnover -€11.2m
no longer reported in 2025 (was €11.2m)
- Goods and materials -€10.0m
no longer reported in 2025 (was €10.0m)
of which Purchases: -€9.6m
- Services and other goods -€661,446
no longer reported in 2025 (was €661,446)
- Gross operating margin +€365,311
new in 2025: €365,311
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.
Result 2024
€13,720
Turnover
-€11.2m
Other operating income
-€7,558
Goods and materials
+€10.0m
Services and other goods
+€661,446
Staff costs
+€48,951
Depreciation
-€6,319
Other operating charges
+€19,962
Other operating items
+€362,611
Financial income
-€2,667
Financial charges
+€13,384
Taxes
-€5,960
Result 2025
-€120,737
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€2.5m
Investment
+€56,250
Financing
+€1.9m
Cash 2024
€929,337
From operations (derived)
-€2.5m
Net result for the year
-€120,737
Depreciation
+€17,333
Stocks and contracts
-€667,669
Receivables within one year
-€13,724
Deferred charges and accrued income
-€8,285
Trade debts
+€207,022
Tax, wage and social debts
+€102,069
Other debts
-€2.0m
Investment (derived)
+€56,250
Investment in fixed assets (net)
+€56,250
Financing
+€1.9m
Debts after one year
-€7,596
Current portion of long-term debt
+€1.1m
Short-term financial debts
+€874,977
Cash 2025
€386,902
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,742,622 | €7,816,282 | +€73,660 | +1.0% |
| Fixed assets | 21/28 | €150,750 | €77,167 | -€73,583 | -48.8% |
| Tangible fixed assets | 22/27 | €109,975 | €51,782 | -€58,193 | -52.9% |
| Land and buildings | 22 | €81,228 | €0 | -€81,228 | -100% |
| Furniture and vehicles | 24 | €28,748 | €51,782 | +€23,035 | +80.1% |
| Financial fixed assets | 28 | €40,775 | €25,385 | -€15,390 | -37.7% |
| Other financial fixed assets | 284/8 | €40,775 | - | -€40,775 | |
| Amounts receivable and cash guarantees | 285/8 | €40,775 | - | -€40,775 | |
| Current assets | 29/58 | €7,591,872 | €7,739,115 | +€147,243 | +1.9% |
| Stocks and contracts in progress | 3 | €6,043,563 | €6,711,232 | +€667,669 | +11.0% |
| Stocks | 30/36 | €6,043,563 | €6,711,232 | +€667,669 | +11.0% |
| Property held for sale | 35 | €6,043,563 | - | -€6.0m | |
| Amounts receivable within one year | 40/41 | €618,972 | €632,697 | +€13,724 | +2.2% |
| Trade receivables | 40 | €486,785 | €164,950 | -€321,835 | -66.1% |
| Other amounts receivable | 41 | €132,187 | €467,747 | +€335,559 | +254% |
| Cash at bank and in hand | 54/58 | €929,337 | €386,902 | -€542,436 | -58.4% |
| Deferred charges and accrued income | 490/1 | - | €8,285 | +€8,285 | |
| Total equity and liabilities | 10/49 | €7,742,622 | €7,816,282 | +€73,660 | +1.0% |
| Equity | 10/15 | €512,421 | €391,685 | -€120,737 | -23.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €498,161 | €377,425 | -€120,737 | -24.2% |
| Amounts payable | 17/49 | €7,230,201 | €7,424,598 | +€194,397 | +2.7% |
| Amounts payable after more than one year | 17 | €10,079 | €2,484 | -€7,596 | -75.4% |
| Financial debts | 170/4 | €10,079 | €2,484 | -€7,596 | -75.4% |
| Credit institutions | 173 | €10,079 | - | -€10,079 | |
| Amounts payable within one year | 42/48 | €7,220,122 | €7,422,114 | +€201,993 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €6,552 | €1,066,557 | +€1.1m | +16,177% |
| Financial debts | 43 | €500,000 | €1,374,977 | +€874,977 | +175% |
| Credit institutions | 430/8 | €500,000 | €1,374,977 | +€874,977 | +175% |
| Trade debts | 44 | €1,292,945 | €1,499,967 | +€207,022 | +16.0% |
| Suppliers | 440/4 | €1,292,945 | €1,499,967 | +€207,022 | +16.0% |
| Taxes, remuneration and social security | 45 | €161,843 | €263,912 | +€102,069 | +63.1% |
| Taxes | 450/3 | €161,843 | €256,978 | +€95,135 | +58.8% |
| Remuneration and social security | 454/9 | - | €6,934 | +€6,934 | |
| Other amounts payable | 47/48 | €5,258,781 | €3,216,701 | -€2.0m | -38.8% |
| Operating income | 70/76A | €11,207,205 | - | -€11.2m | |
| Turnover | 70 | €11,199,647 | - | -€11.2m | |
| Other operating income | 74 | €7,558 | - | -€7,558 | |
| Non-recurring operating income | 76A | - | €196,943 | +€196,943 | |
| Operating charges | 60/66A | €10,946,775 | - | -€10.9m | |
| Goods for resale, raw materials and consumables | 60 | €9,981,341 | - | -€10.0m | |
| Purchases | 600/8 | €9,614,249 | - | -€9.6m | |
| Change in stocks: decrease (increase) | 609 | €367,092 | - | -€367,092 | |
| Services and other goods | 61 | €661,446 | - | -€661,446 | |
| Remuneration, social security and pensions | 62 | €188,150 | €139,199 | -€48,951 | -26.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,014 | €17,333 | +€6,319 | +57.4% |
| Other operating charges | 640/8 | €104,824 | €84,862 | -€19,962 | -19.0% |
| Non-recurring operating charges | 66A | - | €2,700 | +€2,700 | |
| Gross operating margin | 9900 | - | €365,311 | +€365,311 | |
| Operating profit (loss) | 9901 | €260,430 | €121,217 | -€139,214 | -53.5% |
| Financial income | 75/76B | €4,145 | €1,477 | -€2,667 | -64.4% |
| Recurring financial income | 75 | €4,145 | €1,477 | -€2,667 | -64.4% |
| Other financial income | 752/9 | €4,145 | - | -€4,145 | |
| Financial charges | 65/66B | €240,707 | €227,323 | -€13,384 | -5.6% |
| Recurring financial charges | 65 | €240,707 | €227,323 | -€13,384 | -5.6% |
| Debt charges | 650 | €181,026 | - | -€181,026 | |
| Other financial charges | 652/9 | €59,680 | - | -€59,680 | |
| Profit (loss) for the period before taxes | 9903 | €23,868 | -€104,629 | -€128,497 | |
| Income taxes | 67/77 | €10,148 | €16,108 | +€5,960 | +58.7% |
| Taxes | 670/3 | €10,148 | - | -€10,148 | |
| Profit (loss) for the period | 9904 | €13,720 | -€120,737 | -€134,457 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,720 | -€120,737 | -€134,457 |
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 23 October 2026 via checked.be.