DEM: 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.
DEM
Largest movements
- Current investments +€400,000
up €400,000 (+107%), from €372,496 to €772,496
- Cash -€350,467
down €350,467 (-86.8%), from €403,543 to €53,076
mainly Current investments (-€400,000) and Receivables within one year (-€38,229)
- Receivables within one year +€38,229
up €38,229 (+8.6%), from €444,749 to €482,978
of which Other amounts receivable: +€30,093
- Tangible fixed assets -€14,987
down €14,987 (-16.5%), from €90,640 to €75,653
of which Furniture and vehicles: -€13,896
- Reserves +€77,331
up €77,331 (+6.5%), from €1.2m to €1.3m
of which Distributable reserves: +€77,331
- Gross operating margin +€12,294
up €12,294 (+11.6%), from €105,850 to €118,144
- Financial income -€9,666
down €9,666 (-34.1%), from €28,354 to €18,688
- Taxes +€1,563
up €1,563 (+4.2%), from €36,827 to €38,390
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 | €1,311,428 | €1,388,300 | +€76,872 | +5.9% |
| Fixed assets | 21/28 | €90,640 | €75,653 | -€14,987 | -16.5% |
| Tangible fixed assets | 22/27 | €90,640 | €75,653 | -€14,987 | -16.5% |
| Land and buildings | 22 | €50,909 | €50,909 | = | 0.0% |
| Plant, machinery and equipment | 23 | €1,135 | €463 | -€673 | -59.3% |
| Furniture and vehicles | 24 | €37,423 | €23,527 | -€13,896 | -37.1% |
| Other tangible fixed assets | 26 | €1,173 | €754 | -€419 | -35.7% |
| Current assets | 29/58 | €1,220,788 | €1,312,647 | +€91,859 | +7.5% |
| Amounts receivable within one year | 40/41 | €444,749 | €482,978 | +€38,229 | +8.6% |
| Trade receivables | 40 | €7,936 | €16,071 | +€8,135 | +103% |
| Other amounts receivable | 41 | €436,813 | €466,906 | +€30,093 | +6.9% |
| Current investments | 50/53 | €372,496 | €772,496 | +€400,000 | +107% |
| Cash at bank and in hand | 54/58 | €403,543 | €53,076 | -€350,467 | -86.8% |
| Deferred charges and accrued income | 490/1 | - | €4,097 | +€4,097 | |
| Total equity and liabilities | 10/49 | €1,311,428 | €1,388,300 | +€76,872 | +5.9% |
| Equity | 10/15 | €1,294,481 | €1,371,812 | +€77,331 | +6.0% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €1,186,310 | €1,263,642 | +€77,331 | +6.5% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,099 | €3,099 | = | 0.0% |
| Tax-exempt reserves | 132 | €4,958 | €4,958 | = | 0.0% |
| Distributable reserves | 133 | €1,178,254 | €1,255,585 | +€77,331 | +6.6% |
| Profit (loss) carried forward | 14 | €77,184 | €77,184 | -€0 | 0.0% |
| Amounts payable | 17/49 | €16,947 | €16,488 | -€460 | -2.7% |
| Amounts payable within one year | 42/48 | €16,947 | €16,488 | -€460 | -2.7% |
| Trade debts | 44 | €2,139 | €2,007 | -€132 | -6.2% |
| Suppliers | 440/4 | €2,139 | €2,007 | -€132 | -6.2% |
| Taxes, remuneration and social security | 45 | €14,808 | €14,480 | -€328 | -2.2% |
| Taxes | 450/3 | €14,808 | €14,480 | -€328 | -2.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,265 | €14,987 | -€278 | -1.8% |
| Other operating charges | 640/8 | €4,957 | €5,148 | +€191 | +3.8% |
| Gross operating margin | 9900 | €105,850 | €118,144 | +€12,294 | +11.6% |
| Operating profit (loss) | 9901 | €85,627 | €98,008 | +€12,381 | +14.5% |
| Financial income | 75/76B | €28,354 | €18,688 | -€9,666 | -34.1% |
| Recurring financial income | 75 | €28,354 | €18,688 | -€9,666 | -34.1% |
| Financial charges | 65/66B | €345 | €975 | +€630 | +183% |
| Recurring financial charges | 65 | €345 | €975 | +€630 | +183% |
| Profit (loss) for the period before taxes | 9903 | €113,636 | €115,722 | +€2,085 | +1.8% |
| Income taxes | 67/77 | €36,827 | €38,390 | +€1,563 | +4.2% |
| Profit (loss) for the period | 9904 | €76,809 | €77,331 | +€523 | +0.7% |
| Profit (loss) for the period to be appropriated | 9905 | €76,809 | €77,331 | +€523 | +0.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.