DEM ADVANTAGE: 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 ADVANTAGE
Largest movements
- Cash -€112,658
down €112,658 (-50.6%), from €222,584 to €109,926
mainly Receivables within one year (-€89,829) and Trade debts (-€43,888)
- Receivables within one year +€89,829
up €89,829 (+95.3%), from €94,249 to €184,078
of which Trade receivables: +€106,485
- Tangible fixed assets -€32,355
down €32,355 (-9.6%), from €338,091 to €305,736
of which Land and buildings: -€23,244
- Trade debts -€43,888
down €43,888 (-38.6%), from €113,625 to €69,737
- Gross operating margin -€86,993
down €86,993 (-43.5%), from €199,888 to €112,895
- Taxes -€23,607
down €23,607 (-94.3%), from €25,034 to €1,427
- Staff costs -€10,056
down €10,056 (-18.1%), from €55,407 to €45,351
- Depreciation +€4,752
up €4,752 (+9.6%), from €49,595 to €54,347
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 | €1,033,172 | €979,181 | -€53,991 | -5.2% |
| Fixed assets | 21/28 | €713,232 | €680,877 | -€32,355 | -4.5% |
| Tangible fixed assets | 22/27 | €338,091 | €305,736 | -€32,355 | -9.6% |
| Land and buildings | 22 | €296,461 | €273,217 | -€23,244 | -7.8% |
| Furniture and vehicles | 24 | €41,630 | €32,518 | -€9,112 | -21.9% |
| Financial fixed assets | 28 | €375,141 | €375,141 | +€0 | 0.0% |
| Current assets | 29/58 | €319,940 | €298,304 | -€21,636 | -6.8% |
| Amounts receivable within one year | 40/41 | €94,249 | €184,078 | +€89,829 | +95.3% |
| Trade receivables | 40 | €62,749 | €169,234 | +€106,485 | +170% |
| Other amounts receivable | 41 | €31,500 | €14,844 | -€16,656 | -52.9% |
| Cash at bank and in hand | 54/58 | €222,584 | €109,926 | -€112,658 | -50.6% |
| Deferred charges and accrued income | 490/1 | €3,107 | €4,300 | +€1,193 | +38.4% |
| Total equity and liabilities | 10/49 | €1,033,172 | €979,181 | -€53,991 | -5.2% |
| Equity | 10/15 | €897,143 | €897,928 | +€785 | +0.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €6,200 | €6,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €828,943 | €829,728 | +€785 | +0.1% |
| Amounts payable | 17/49 | €136,029 | €81,254 | -€54,775 | -40.3% |
| Amounts payable within one year | 42/48 | €136,029 | €81,254 | -€54,775 | -40.3% |
| Financial debts | 43 | €1,186 | - | -€1,186 | |
| Credit institutions | 430/8 | €1,186 | - | -€1,186 | |
| Trade debts | 44 | €113,625 | €69,737 | -€43,888 | -38.6% |
| Suppliers | 440/4 | €113,625 | €69,737 | -€43,888 | -38.6% |
| Taxes, remuneration and social security | 45 | €21,218 | €11,516 | -€9,702 | -45.7% |
| Taxes | 450/3 | €10,421 | €3,716 | -€6,705 | -64.3% |
| Remuneration and social security | 454/9 | €10,797 | €7,800 | -€2,997 | -27.8% |
| Remuneration, social security and pensions | 62 | €55,407 | €45,351 | -€10,056 | -18.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,595 | €54,347 | +€4,752 | +9.6% |
| Other operating charges | 640/8 | €8,615 | €8,337 | -€278 | -3.2% |
| Gross operating margin | 9900 | €199,888 | €112,895 | -€86,993 | -43.5% |
| Operating profit (loss) | 9901 | €86,271 | €4,861 | -€81,410 | -94.4% |
| Financial charges | 65/66B | €3,709 | €2,650 | -€1,059 | -28.6% |
| Recurring financial charges | 65 | €3,709 | €2,650 | -€1,059 | -28.6% |
| Profit (loss) for the period before taxes | 9903 | €82,562 | €2,211 | -€80,351 | -97.3% |
| Income taxes | 67/77 | €25,034 | €1,427 | -€23,607 | -94.3% |
| Profit (loss) for the period | 9904 | €57,528 | €784 | -€56,744 | -98.6% |
| Profit (loss) for the period to be appropriated | 9905 | €57,528 | €784 | -€56,744 | -98.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.