D.E.M.A.S.: 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.A.S.
Largest movements
- Cash -€31,197
down €31,197 (-16.6%), from €187,574 to €156,377
mainly Contributions, distributions and other (-€60,000) and Net result for the year (-€22,254)
- Receivables within one year +€15,086
up €15,086 (+242%), from €6,229 to €21,315
- Tangible fixed assets -€7,013
down €7,013 (-26.4%), from €26,578 to €19,565
- Intangible fixed assets -€6,240
no longer reported in 2025 (was €6,240)
- Reserves -€60,000
down €60,000 (-52.2%), from €114,860 to €54,860
of which Distributable reserves: -€60,000
- Other debts +€50,695
up €50,695 (+12,674%), from €400 to €51,095
- Profit (loss) carried forward -€22,254
down €22,254, from €5,306 to -€16,948
- Tax, wage and social debts +€9,800
up €9,800 (+17.3%), from €56,610 to €66,410
of which Remuneration and social security: +€12,377
- Trade debts -€5,518
down €5,518 (-50.7%), from €10,889 to €5,371
- Gross operating margin -€50,576
down €50,576 (-14.9%), from €340,134 to €289,558
- Other operating charges +€11,345
up €11,345 (+340%), from €3,338 to €14,683
- Staff costs +€4,225
up €4,225 (+1.6%), from €268,222 to €272,447
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 | €237,265 | €207,449 | -€29,816 | -12.6% |
| Formation expenses | 20 | €1,190 | €888 | -€302 | -25.4% |
| Fixed assets | 21/28 | €33,883 | €20,630 | -€13,253 | -39.1% |
| Intangible fixed assets | 21 | €6,240 | - | -€6,240 | |
| Tangible fixed assets | 22/27 | €26,578 | €19,565 | -€7,013 | -26.4% |
| Plant, machinery and equipment | 23 | €10,431 | €7,666 | -€2,765 | -26.5% |
| Furniture and vehicles | 24 | €5,141 | €3,713 | -€1,428 | -27.8% |
| Other tangible fixed assets | 26 | €11,007 | €8,187 | -€2,820 | -25.6% |
| Financial fixed assets | 28 | €1,065 | €1,065 | = | 0.0% |
| Current assets | 29/58 | €202,192 | €185,930 | -€16,261 | -8.0% |
| Stocks and contracts in progress | 3 | €8,389 | €8,239 | -€150 | -1.8% |
| Stocks | 30/36 | €8,389 | €8,239 | -€150 | -1.8% |
| Amounts receivable within one year | 40/41 | €6,229 | €21,315 | +€15,086 | +242% |
| Other amounts receivable | 41 | €6,229 | €21,315 | +€15,086 | +242% |
| Cash at bank and in hand | 54/58 | €187,574 | €156,377 | -€31,197 | -16.6% |
| Total equity and liabilities | 10/49 | €237,265 | €207,449 | -€29,816 | -12.6% |
| Equity | 10/15 | €138,766 | €56,512 | -€82,254 | -59.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €114,860 | €54,860 | -€60,000 | -52.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €113,000 | €53,000 | -€60,000 | -53.1% |
| Profit (loss) carried forward | 14 | €5,306 | -€16,948 | -€22,254 | |
| Amounts payable | 17/49 | €98,499 | €150,936 | +€52,438 | +53.2% |
| Amounts payable within one year | 42/48 | €67,899 | €122,875 | +€54,977 | +81.0% |
| Trade debts | 44 | €10,889 | €5,371 | -€5,518 | -50.7% |
| Suppliers | 440/4 | €10,889 | €5,371 | -€5,518 | -50.7% |
| Taxes, remuneration and social security | 45 | €56,610 | €66,410 | +€9,800 | +17.3% |
| Taxes | 450/3 | €26,790 | €24,213 | -€2,578 | -9.6% |
| Remuneration and social security | 454/9 | €29,820 | €42,197 | +€12,377 | +41.5% |
| Other amounts payable | 47/48 | €400 | €51,095 | +€50,695 | +12,674% |
| Accrued charges and deferred income | 492/3 | €30,600 | €28,061 | -€2,539 | -8.3% |
| Remuneration, social security and pensions | 62 | €268,222 | €272,447 | +€4,225 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,633 | €13,555 | -€2,078 | -13.3% |
| Other operating charges | 640/8 | €3,338 | €14,683 | +€11,345 | +340% |
| Gross operating margin | 9900 | €340,134 | €289,558 | -€50,576 | -14.9% |
| Operating profit (loss) | 9901 | €52,941 | -€11,127 | -€64,068 | |
| Financial income | 75/76B | €923 | €160 | -€763 | -82.6% |
| Recurring financial income | 75 | €3 | €160 | +€157 | +4,659% |
| Non-recurring financial income | 76B | €920 | - | -€920 | |
| Financial charges | 65/66B | €4,210 | €2,599 | -€1,611 | -38.3% |
| Recurring financial charges | 65 | €4,210 | €2,599 | -€1,611 | -38.3% |
| Profit (loss) for the period before taxes | 9903 | €49,655 | -€13,566 | -€63,221 | |
| Income taxes | 67/77 | €11,304 | €8,688 | -€2,617 | -23.1% |
| Profit (loss) for the period | 9904 | €38,350 | -€22,254 | -€60,604 | |
| Profit (loss) for the period to be appropriated | 9905 | €38,350 | -€22,254 | -€60,604 |
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 13 October 2026 via checked.be.