Alexander Demeester: 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.
Alexander Demeester
Largest movements
- Current investments +€100,000
new in 2026: €100,000
- Receivables within one year -€6,731
down €6,731 (-29.1%), from €23,133 to €16,401
of which Trade receivables: -€15,701
- Reserves +€93,345
up €93,345 (+68.3%), from €136,673 to €230,018
- Trade debts +€5,498
up €5,498 (+153%), from €3,584 to €9,082
- Tax, wage and social debts -€4,504
down €4,504 (-11.0%), from €40,873 to €36,370
- Accrued charges and deferred income -€2,988
down €2,988 (-100%), from €2,988 to €0
- Gross operating margin -€5,295
down €5,295 (-4.1%), from €128,097 to €122,802
- Financial income +€1,845
up €1,845 (+1,007%), from €183 to €2,028
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €189,118 | €280,469 | +€91,351 | +48.3% |
| Fixed assets | 21/28 | €20,918 | €21,773 | +€855 | +4.1% |
| Tangible fixed assets | 22/27 | €20,918 | €21,773 | +€855 | +4.1% |
| Plant, machinery and equipment | 23 | €185 | €28 | -€157 | -84.9% |
| Furniture and vehicles | 24 | €948 | €4,868 | +€3,921 | +414% |
| Other tangible fixed assets | 26 | €19,785 | €16,877 | -€2,908 | -14.7% |
| Current assets | 29/58 | €168,200 | €258,696 | +€90,496 | +53.8% |
| Amounts receivable within one year | 40/41 | €23,133 | €16,401 | -€6,731 | -29.1% |
| Trade receivables | 40 | €21,056 | €5,355 | -€15,701 | -74.6% |
| Other amounts receivable | 41 | €2,077 | €11,046 | +€8,969 | +432% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €142,378 | €139,914 | -€2,464 | -1.7% |
| Deferred charges and accrued income | 490/1 | €2,690 | €2,381 | -€309 | -11.5% |
| Total equity and liabilities | 10/49 | €189,118 | €280,469 | +€91,351 | +48.3% |
| Equity | 10/15 | €141,673 | €235,018 | +€93,345 | +65.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €136,673 | €230,018 | +€93,345 | +68.3% |
| Distributable reserves | 133 | €136,673 | €230,018 | +€93,345 | +68.3% |
| Amounts payable | 17/49 | €47,445 | €45,452 | -€1,993 | -4.2% |
| Amounts payable within one year | 42/48 | €44,457 | €45,452 | +€995 | +2.2% |
| Trade debts | 44 | €3,584 | €9,082 | +€5,498 | +153% |
| Suppliers | 440/4 | €3,584 | €9,082 | +€5,498 | +153% |
| Taxes, remuneration and social security | 45 | €40,873 | €36,370 | -€4,504 | -11.0% |
| Taxes | 450/3 | €40,873 | €36,370 | -€4,504 | -11.0% |
| Accrued charges and deferred income | 492/3 | €2,988 | €0 | -€2,988 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,023 | €3,436 | +€414 | +13.7% |
| Other operating charges | 640/8 | €126 | €128 | +€2 | +1.6% |
| Gross operating margin | 9900 | €128,097 | €122,802 | -€5,295 | -4.1% |
| Operating profit (loss) | 9901 | €124,948 | €119,237 | -€5,711 | -4.6% |
| Financial income | 75/76B | €183 | €2,028 | +€1,845 | +1,007% |
| Recurring financial income | 75 | €183 | €2,028 | +€1,845 | +1,007% |
| Financial charges | 65/66B | €1,361 | €1,222 | -€139 | -10.2% |
| Recurring financial charges | 65 | €1,361 | €1,222 | -€139 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | €123,770 | €120,043 | -€3,727 | -3.0% |
| Income taxes | 67/77 | €27,444 | €26,698 | -€746 | -2.7% |
| Profit (loss) for the period | 9904 | €96,326 | €93,345 | -€2,981 | -3.1% |
| Profit (loss) for the period to be appropriated | 9905 | €96,326 | €93,345 | -€2,981 | -3.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.