DEM CONSTRUCT: 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 CONSTRUCT
Largest movements
- Cash +€23,472
up €23,472 (+262%), from €8,965 to €32,436
mainly Trade debts (+€19,364) and Net result for the year (+€10,886)
- Receivables within one year +€11,257
up €11,257 (+16.3%), from €69,223 to €80,480
of which Trade receivables: +€10,285
- Deferred charges and accrued income -€6,971
down €6,971 (-88.7%), from €7,861 to €890
- Tangible fixed assets -€6,633
down €6,633 (-30.4%), from €21,810 to €15,177
of which Furniture and vehicles: -€6,633
- Trade debts +€19,364
up €19,364 (+158%), from €12,238 to €31,602
- Other debts +€8,697
up €8,697 (+35.4%), from €24,554 to €33,250
- Reserves -€7,111
down €7,111 (-20.4%), from €34,902 to €27,791
of which Distributable reserves: -€7,111
- Debts after one year -€5,813
down €5,813 (-43.6%), from €13,331 to €7,518
- Tax, wage and social debts +€4,778
up €4,778 (+54.4%), from €8,776 to €13,553
of which Remuneration and social security: +€9,921
- Gross operating margin +€8,176
up €8,176 (+37.9%), from €21,592 to €29,768
- Financial charges +€3,230
up €3,230 (+212%), from €1,524 to €4,754
- Depreciation +€2,477
up €2,477 (+59.6%), from €4,156 to €6,633
- Other operating charges -€1,136
down €1,136 (-29.1%), from €3,898 to €2,762
- Taxes -€377
down €377 (-7.4%), from €5,110 to €4,733
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 | €107,859 | €128,984 | +€21,125 | +19.6% |
| Fixed assets | 21/28 | €21,810 | €15,177 | -€6,633 | -30.4% |
| Tangible fixed assets | 22/27 | €21,810 | €15,177 | -€6,633 | -30.4% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €21,810 | €15,177 | -€6,633 | -30.4% |
| Current assets | 29/58 | €86,049 | €113,807 | +€27,758 | +32.3% |
| Amounts receivable within one year | 40/41 | €69,223 | €80,480 | +€11,257 | +16.3% |
| Trade receivables | 40 | €65,730 | €76,016 | +€10,285 | +15.6% |
| Other amounts receivable | 41 | €3,493 | €4,465 | +€972 | +27.8% |
| Cash at bank and in hand | 54/58 | €8,965 | €32,436 | +€23,472 | +262% |
| Deferred charges and accrued income | 490/1 | €7,861 | €890 | -€6,971 | -88.7% |
| Total equity and liabilities | 10/49 | €107,859 | €128,984 | +€21,125 | +19.6% |
| Equity | 10/15 | €44,359 | €37,248 | -€7,111 | -16.0% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €34,902 | €27,791 | -€7,111 | -20.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €34,902 | €27,791 | -€7,111 | -20.4% |
| Profit (loss) carried forward | 14 | €1,397 | €1,397 | = | 0.0% |
| Amounts payable | 17/49 | €63,499 | €91,736 | +€28,237 | +44.5% |
| Amounts payable after more than one year | 17 | €13,331 | €7,518 | -€5,813 | -43.6% |
| Financial debts | 170/4 | €13,331 | €7,518 | -€5,813 | -43.6% |
| Amounts payable within one year | 42/48 | €50,169 | €84,218 | +€34,050 | +67.9% |
| Current portion of amounts payable after more than one year | 42 | €4,602 | €5,813 | +€1,211 | +26.3% |
| Trade debts | 44 | €12,238 | €31,602 | +€19,364 | +158% |
| Suppliers | 440/4 | €12,238 | €31,602 | +€19,364 | +158% |
| Taxes, remuneration and social security | 45 | €8,776 | €13,553 | +€4,778 | +54.4% |
| Taxes | 450/3 | €6,976 | €1,833 | -€5,143 | -73.7% |
| Remuneration and social security | 454/9 | €1,800 | €11,721 | +€9,921 | +551% |
| Other amounts payable | 47/48 | €24,554 | €33,250 | +€8,697 | +35.4% |
| Turnover | 70 | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,156 | €6,633 | +€2,477 | +59.6% |
| Other operating charges | 640/8 | €3,898 | €2,762 | -€1,136 | -29.1% |
| Gross operating margin | 9900 | €21,592 | €29,768 | +€8,176 | +37.9% |
| Operating profit (loss) | 9901 | €13,538 | €20,373 | +€6,835 | +50.5% |
| Financial income | 75/76B | €0 | €0 | +€0 | +450% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +450% |
| Financial charges | 65/66B | €1,524 | €4,754 | +€3,230 | +212% |
| Recurring financial charges | 65 | €1,524 | €4,754 | +€3,230 | +212% |
| Profit (loss) for the period before taxes | 9903 | €12,014 | €15,619 | +€3,605 | +30.0% |
| Income taxes | 67/77 | €5,110 | €4,733 | -€377 | -7.4% |
| Profit (loss) for the period | 9904 | €6,904 | €10,886 | +€3,982 | +57.7% |
| Profit (loss) for the period to be appropriated | 9905 | €6,904 | €10,886 | +€3,982 | +57.7% |
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 16 October 2026 via checked.be.