Alain DEMAN: 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.
Alain DEMAN
Largest movements
- Tangible fixed assets +€19,538
up €19,538 (+21.6%), from €90,509 to €110,046
of which Furniture and vehicles: +€33,620
- Receivables within one year -€10,085
down €10,085 (-7.6%), from €133,371 to €123,286
of which Trade receivables: -€13,036
- Cash +€8,760
up €8,760 (+29.0%), from €30,205 to €38,966
mainly Depreciation (+€30,458) and Debts after one year (+€12,344)
- Debts after one year +€12,344
up €12,344 (+23.0%), from €53,719 to €66,064
- Current portion of long-term debt +€12,154
up €12,154 (+48.4%), from €25,091 to €37,246
- Tax, wage and social debts -€11,030
down €11,030 (-72.0%), from €15,318 to €4,288
of which Taxes: -€9,322
- Profit (loss) carried forward +€4,142
up €4,142 (+3.3%), from €127,199 to €131,341
- Other operating charges -€7,013
down €7,013 (-62.8%), from €11,170 to €4,157
- Gross operating margin -€6,571
down €6,571 (-4.4%), from €151,001 to €144,430
- Taxes +€3,783
up €3,783 (+100%), from €3,772 to €7,556
- Depreciation +€2,700
up €2,700 (+9.7%), from €27,757 to €30,458
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 | €254,560 | €275,006 | +€20,445 | +8.0% |
| Fixed assets | 21/28 | €90,559 | €111,796 | +€21,238 | +23.5% |
| Tangible fixed assets | 22/27 | €90,509 | €110,046 | +€19,538 | +21.6% |
| Plant, machinery and equipment | 23 | €5,879 | €8,680 | +€2,800 | +47.6% |
| Furniture and vehicles | 24 | €25,255 | €58,874 | +€33,620 | +133% |
| Leasing and similar rights | 25 | €59,375 | €42,493 | -€16,882 | -28.4% |
| Financial fixed assets | 28 | €50 | €1,750 | +€1,700 | +3,400% |
| Current assets | 29/58 | €164,001 | €163,209 | -€792 | -0.5% |
| Amounts receivable within one year | 40/41 | €133,371 | €123,286 | -€10,085 | -7.6% |
| Trade receivables | 40 | €78,851 | €65,815 | -€13,036 | -16.5% |
| Other amounts receivable | 41 | €54,520 | €57,471 | +€2,951 | +5.4% |
| Cash at bank and in hand | 54/58 | €30,205 | €38,966 | +€8,760 | +29.0% |
| Deferred charges and accrued income | 490/1 | €425 | €958 | +€532 | +125% |
| Total equity and liabilities | 10/49 | €254,560 | €275,006 | +€20,445 | +8.0% |
| Equity | 10/15 | €141,559 | €145,701 | +€4,142 | +2.9% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €127,199 | €131,341 | +€4,142 | +3.3% |
| Amounts payable | 17/49 | €113,001 | €129,305 | +€16,303 | +14.4% |
| Amounts payable after more than one year | 17 | €53,719 | €66,064 | +€12,344 | +23.0% |
| Financial debts | 170/4 | €53,719 | €66,064 | +€12,344 | +23.0% |
| Amounts payable within one year | 42/48 | €59,282 | €62,401 | +€3,119 | +5.3% |
| Current portion of amounts payable after more than one year | 42 | €25,091 | €37,246 | +€12,154 | +48.4% |
| Trade debts | 44 | €18,838 | €20,868 | +€2,030 | +10.8% |
| Suppliers | 440/4 | €18,838 | €20,868 | +€2,030 | +10.8% |
| Taxes, remuneration and social security | 45 | €15,318 | €4,288 | -€11,030 | -72.0% |
| Taxes | 450/3 | €10,276 | €953 | -€9,322 | -90.7% |
| Remuneration and social security | 454/9 | €5,042 | €3,334 | -€1,707 | -33.9% |
| Other amounts payable | 47/48 | €35 | €0 | -€35 | -100% |
| Accrued charges and deferred income | 492/3 | - | €840 | +€840 | |
| Remuneration, social security and pensions | 62 | €94,459 | €95,766 | +€1,307 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,757 | €30,458 | +€2,700 | +9.7% |
| Other operating charges | 640/8 | €11,170 | €4,157 | -€7,013 | -62.8% |
| Gross operating margin | 9900 | €151,001 | €144,430 | -€6,571 | -4.4% |
| Operating profit (loss) | 9901 | €17,615 | €14,049 | -€3,566 | -20.2% |
| Financial income | 75/76B | €401 | €404 | +€4 | +0.9% |
| Recurring financial income | 75 | €401 | €404 | +€4 | +0.9% |
| Financial charges | 65/66B | €3,348 | €2,756 | -€592 | -17.7% |
| Recurring financial charges | 65 | €3,348 | €2,756 | -€592 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | €14,668 | €11,698 | -€2,970 | -20.2% |
| Income taxes | 67/77 | €3,772 | €7,556 | +€3,783 | +100% |
| Profit (loss) for the period | 9904 | €10,895 | €4,142 | -€6,753 | -62.0% |
| Profit (loss) for the period to be appropriated | 9905 | €10,895 | €4,142 | -€6,753 | -62.0% |
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.