DEM -ELEC: 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 -ELEC
Largest movements
- Tangible fixed assets -€7,979
down €7,979 (-19.6%), from €40,688 to €32,709
of which Furniture and vehicles: -€6,110
- Cash +€5,404
up €5,404 (+14.3%), from €37,746 to €43,150
mainly Net result for the year (+€13,925) and Depreciation (+€13,534)
- Stocks and contracts +€5,014
up €5,014 (+7.1%), from €70,940 to €75,954
- Debts after one year -€6,120
down €6,120 (-38.7%), from €15,815 to €9,695
- Reserves +€2,725
up €2,725 (+2.0%), from €134,736 to €137,461
- Other debts +€2,180
up €2,180 (+24.2%), from €9,020 to €11,200
- Gross operating margin +€17,018
up €17,018 (+109%), from €15,552 to €32,570
- Taxes +€6,542
up €6,542, from -€4,096 to €2,445
- Other operating charges -€872
down €872 (-31.2%), from €2,797 to €1,925
- Financial charges -€347
down €347 (-18.3%), from €1,895 to €1,548
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 | €177,623 | €178,690 | +€1,067 | +0.6% |
| Fixed assets | 21/28 | €40,688 | €32,709 | -€7,979 | -19.6% |
| Tangible fixed assets | 22/27 | €40,688 | €32,709 | -€7,979 | -19.6% |
| Plant, machinery and equipment | 23 | €5,028 | €3,160 | -€1,869 | -37.2% |
| Furniture and vehicles | 24 | €35,659 | €29,549 | -€6,110 | -17.1% |
| Current assets | 29/58 | €136,935 | €145,981 | +€9,046 | +6.6% |
| Stocks and contracts in progress | 3 | €70,940 | €75,954 | +€5,014 | +7.1% |
| Stocks | 30/36 | €70,940 | €75,954 | +€5,014 | +7.1% |
| Amounts receivable within one year | 40/41 | €26,269 | €25,936 | -€333 | -1.3% |
| Trade receivables | 40 | €11,328 | €14,476 | +€3,148 | +27.8% |
| Other amounts receivable | 41 | €14,941 | €11,460 | -€3,481 | -23.3% |
| Cash at bank and in hand | 54/58 | €37,746 | €43,150 | +€5,404 | +14.3% |
| Deferred charges and accrued income | 490/1 | €1,980 | €941 | -€1,040 | -52.5% |
| Total equity and liabilities | 10/49 | €177,623 | €178,690 | +€1,067 | +0.6% |
| Equity | 10/15 | €140,936 | €143,661 | +€2,725 | +1.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €134,736 | €137,461 | +€2,725 | +2.0% |
| Distributable reserves | 133 | €134,736 | €137,461 | +€2,725 | +2.0% |
| Amounts payable | 17/49 | €36,687 | €35,029 | -€1,658 | -4.5% |
| Amounts payable after more than one year | 17 | €15,815 | €9,695 | -€6,120 | -38.7% |
| Financial debts | 170/4 | €15,815 | €9,695 | -€6,120 | -38.7% |
| Amounts payable within one year | 42/48 | €19,996 | €25,334 | +€5,339 | +26.7% |
| Current portion of amounts payable after more than one year | 42 | €5,860 | €6,120 | +€261 | +4.5% |
| Financial debts | 43 | - | €1,268 | +€1,268 | |
| Credit institutions | 430/8 | - | €1,268 | +€1,268 | |
| Trade debts | 44 | €3,366 | €3,245 | -€121 | -3.6% |
| Suppliers | 440/4 | €3,366 | €3,245 | -€121 | -3.6% |
| Taxes, remuneration and social security | 45 | €1,750 | €3,500 | +€1,750 | +100% |
| Taxes | 450/3 | €1,750 | €3,500 | +€1,750 | +100% |
| Other amounts payable | 47/48 | €9,020 | €11,200 | +€2,180 | +24.2% |
| Accrued charges and deferred income | 492/3 | €876 | - | -€876 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,430 | €13,534 | +€103 | +0.8% |
| Other operating charges | 640/8 | €2,797 | €1,925 | -€872 | -31.2% |
| Gross operating margin | 9900 | €15,552 | €32,570 | +€17,018 | +109% |
| Operating profit (loss) | 9901 | -€675 | €17,111 | +€17,786 | |
| Financial income | 75/76B | €816 | €807 | -€9 | -1.1% |
| Recurring financial income | 75 | €816 | €807 | -€9 | -1.1% |
| Financial charges | 65/66B | €1,895 | €1,548 | -€347 | -18.3% |
| Recurring financial charges | 65 | €1,895 | €1,548 | -€347 | -18.3% |
| Profit (loss) for the period before taxes | 9903 | -€1,754 | €16,370 | +€18,124 | |
| Income taxes | 67/77 | -€4,096 | €2,445 | +€6,542 | |
| Profit (loss) for the period | 9904 | €2,342 | €13,925 | +€11,583 | +495% |
| Profit (loss) for the period to be appropriated | 9905 | €2,342 | €13,925 | +€11,583 | +495% |
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 18 October 2026 via checked.be.