DE MARS Steven: what changed
Two fiscal 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.
DE MARS Steven
Largest movements
- Tangible fixed assets -€44,656
down €44,656 (-15.8%), from €281,956 to €237,299
of which Furniture and vehicles: -€33,995
- Cash +€20,787
up €20,787 (+146.9%), from €14,153 to €34,940
mainly Depreciation (+€36,310) and Other debts (+€14,535)
- Receivables within one year -€7,070
down €7,070 (-4.0%), from €177,469 to €170,400
- Debts after one year -€43,304
down €43,304 (-25.7%), from €168,817 to €125,513
- Other debts +€14,535
up €14,535 (+32.3%), from €44,980 to €59,515
- Current portion of long-term debt -€11,745
down €11,745 (-35.4%), from €33,193 to €21,448
- Reserves +€11,589
up €11,589 (+7.6%), from €153,097 to €164,686
of which Distributable reserves: +€11,589
- Gross operating margin -€65,898
down €65,898 (-58.4%), from €112,843 to €46,944
- Staff costs -€17,535
no longer reported in 2025 (was €17,535)
- Taxes -€5,815
down €5,815 (-54.2%), from €10,735 to €4,920
- Depreciation -€5,703
down €5,703 (-13.6%), from €42,014 to €36,310
- Financial charges -€3,254
down €3,254 (-31.4%), from €10,352 to €7,098
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 | €502,644 | €475,901 | -€26,743 | -5.3% |
| Fixed assets | 21/28 | €303,256 | €258,599 | -€44,656 | -14.7% |
| Tangible fixed assets | 22/27 | €281,956 | €237,299 | -€44,656 | -15.8% |
| Land and buildings | 22 | €96,036 | €95,036 | -€1,000 | -1.0% |
| Plant, machinery and equipment | 23 | €100,478 | €90,817 | -€9,662 | -9.6% |
| Furniture and vehicles | 24 | €85,442 | €51,447 | -€33,995 | -39.8% |
| Financial fixed assets | 28 | €21,300 | €21,300 | = | 0.0% |
| Current assets | 29/58 | €199,388 | €217,302 | +€17,914 | +9.0% |
| Amounts receivable within one year | 40/41 | €177,469 | €170,400 | -€7,070 | -4.0% |
| Other amounts receivable | 41 | €177,469 | €170,400 | -€7,070 | -4.0% |
| Cash at bank and in hand | 54/58 | €14,153 | €34,940 | +€20,787 | +146.9% |
| Deferred charges and accrued income | 490/1 | €7,766 | €11,962 | +€4,196 | +54.0% |
| Total equity and liabilities | 10/49 | €502,644 | €475,901 | -€26,743 | -5.3% |
| Equity | 10/15 | €248,265 | €259,854 | +€11,589 | +4.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €153,097 | €164,686 | +€11,589 | +7.6% |
| 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 | €151,237 | €162,826 | +€11,589 | +7.7% |
| Profit (loss) carried forward | 14 | €76,568 | €76,568 | = | 0.0% |
| Amounts payable | 17/49 | €254,379 | €216,047 | -€38,332 | -15.1% |
| Amounts payable after more than one year | 17 | €168,817 | €125,513 | -€43,304 | -25.7% |
| Financial debts | 170/4 | €168,817 | €125,513 | -€43,304 | -25.7% |
| Amounts payable within one year | 42/48 | €85,561 | €90,534 | +€4,973 | +5.8% |
| Current portion of amounts payable after more than one year | 42 | €33,193 | €21,448 | -€11,745 | -35.4% |
| Trade debts | 44 | €653 | €1,821 | +€1,168 | +178.9% |
| Suppliers | 440/4 | €653 | €1,821 | +€1,168 | +178.9% |
| Taxes, remuneration and social security | 45 | €6,735 | €7,750 | +€1,015 | +15.1% |
| Taxes | 450/3 | €6,735 | €7,750 | +€1,015 | +15.1% |
| Other amounts payable | 47/48 | €44,980 | €59,515 | +€14,535 | +32.3% |
| Remuneration, social security and pensions | 62 | €17,535 | - | -€17,535 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,014 | €36,310 | -€5,703 | -13.6% |
| Other operating charges | 640/8 | €583 | €618 | +€35 | +6.1% |
| Non-recurring operating charges | 66A | - | €1,339 | +€1,339 | |
| Gross operating margin | 9900 | €112,843 | €46,944 | -€65,898 | -58.4% |
| Operating profit (loss) | 9901 | €52,711 | €8,677 | -€44,034 | -83.5% |
| Financial income | 75/76B | €12,479 | €14,930 | +€2,451 | +19.6% |
| Recurring financial income | 75 | €12,479 | €14,930 | +€2,451 | +19.6% |
| Financial charges | 65/66B | €10,352 | €7,098 | -€3,254 | -31.4% |
| Recurring financial charges | 65 | €10,352 | €7,098 | -€3,254 | -31.4% |
| Profit (loss) for the period before taxes | 9903 | €54,838 | €16,509 | -€38,329 | -69.9% |
| Income taxes | 67/77 | €10,735 | €4,920 | -€5,815 | -54.2% |
| Profit (loss) for the period | 9904 | €44,103 | €11,589 | -€32,514 | -73.7% |
| Profit (loss) for the period to be appropriated | 9905 | €44,103 | €11,589 | -€32,514 | -73.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.