D.E.M.: 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.
D.E.M.
Largest movements
- Receivables within one year +€6,984
up €6,984 (+35.4%), from €19,732 to €26,715
of which Trade receivables: +€6,824
- Cash +€3,476
up €3,476 (+137.4%), from €2,531 to €6,007
mainly Advances received (+€5,991) and Trade debts (+€3,783)
- Tangible fixed assets -€539
down €539 (-33.3%), from €1,616 to €1,077
- Advances received +€5,991
up €5,991 (+46.8%), from €12,789 to €18,780
- Trade debts +€3,783
up €3,783 (+1901.5%), from €199 to €3,982
- Gross operating margin +€6,776
up €6,776, from -€5,810 to €966
- Financial charges -€517
down €517 (-92.4%), from €560 to €43
- Other operating charges -€258
down €258 (-52.1%), from €496 to €238
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.
Cash bridge derived
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 | €23,878 | €33,829 | +€9,951 | +41.7% |
| Fixed assets | 21/28 | €1,616 | €1,077 | -€539 | -33.3% |
| Tangible fixed assets | 22/27 | €1,616 | €1,077 | -€539 | -33.3% |
| Plant, machinery and equipment | 23 | €1,616 | €1,077 | -€539 | -33.3% |
| Current assets | 29/58 | €22,262 | €32,752 | +€10,489 | +47.1% |
| Amounts receivable within one year | 40/41 | €19,732 | €26,715 | +€6,984 | +35.4% |
| Trade receivables | 40 | €19,065 | €25,889 | +€6,824 | +35.8% |
| Other amounts receivable | 41 | €666 | €826 | +€160 | +24.0% |
| Cash at bank and in hand | 54/58 | €2,531 | €6,007 | +€3,476 | +137.4% |
| Deferred charges and accrued income | 490/1 | - | €29 | +€29 | |
| Total equity and liabilities | 10/49 | €23,878 | €33,829 | +€9,951 | +41.7% |
| Equity | 10/15 | €7,490 | €7,666 | +€177 | +2.4% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €11,300 | €11,300 | = | 0.0% |
| Distributable reserves | 133 | €11,300 | €11,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,310 | -€7,134 | +€177 | +2.4% |
| Amounts payable | 17/49 | €16,388 | €26,163 | +€9,774 | +59.6% |
| Amounts payable within one year | 42/48 | €16,388 | €26,163 | +€9,774 | +59.6% |
| Trade debts | 44 | €199 | €3,982 | +€3,783 | +1901.5% |
| Suppliers | 440/4 | €199 | €3,982 | +€3,783 | +1901.5% |
| Advances received on contracts in progress | 46 | €12,789 | €18,780 | +€5,991 | +46.8% |
| Taxes, remuneration and social security | 45 | €3,401 | €3,401 | = | 0.0% |
| Taxes | 450/3 | €3,401 | €3,401 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €539 | €539 | = | 0.0% |
| Other operating charges | 640/8 | €496 | €238 | -€258 | -52.1% |
| Gross operating margin | 9900 | -€5,810 | €966 | +€6,776 | |
| Operating profit (loss) | 9901 | -€6,845 | €190 | +€7,034 | |
| Financial income | 75/76B | €16 | €30 | +€13 | +83.8% |
| Recurring financial income | 75 | €16 | €30 | +€13 | +83.8% |
| Financial charges | 65/66B | €560 | €43 | -€517 | -92.4% |
| Recurring financial charges | 65 | €560 | €43 | -€517 | -92.4% |
| Profit (loss) for the period before taxes | 9903 | -€7,389 | €177 | +€7,565 | |
| Profit (loss) for the period | 9904 | -€7,389 | €177 | +€7,565 | |
| Profit (loss) for the period to be appropriated | 9905 | -€7,389 | €177 | +€7,565 |
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 11 October 2026 via checked.be.