DEM GROUP: 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.
What changed
DEM GROUP
NACE 46.630, Wholesale trade
fiscal year 2023 against 2024filed annual accounts (NBB)
Net result for the year
€621,876
2023 · -€3.0m+€3.6m
Equity
-€14.3m
2023 · -€14.9m+€621,876
Cash
€326,865
2023 · €54,190+€272,675
Balance sheet total
€1.4m
2023 · €4.3m-€2.9m
Largest movements
Assets
- Receivables within one year -€2.0m
down €2.0m (-78.8%), from €2.5m to €531,479
of which Trade receivables: -€1.5m
- Financial fixed assets -€1.2m
down €1.2m (-72.6%), from €1.7m to €461,211
of which Affiliated companies: -€1.2m
- Cash +€272,675
up €272,675 (+503.2%), from €54,190 to €326,865
mainly Receivables within one year (+€2.0m) and Investment in fixed assets (net) (+€1.2m)
Equity and liabilities
- Other debts -€1.9m
down €1.9m (-11.4%), from €16.7m to €14.8m
- Profit (loss) carried forward +€1.1m
up €1.1m (+2.5%), from -€44.9m to -€43.8m
- Provisions -€704,761
down €704,761 (-73.8%), from €954,761 to €250,000
of which Provisions for liabilities and charges: -€450,000
- Trade debts -€619,513
down €619,513 (-50.7%), from €1.2m to €602,897
- Reserves -€494,775
down €494,775 (-13.6%), from €3.6m to €3.1m
of which Tax-exempt reserves: -€494,775
Income statement
- Financial charges -€1.6m
down €1.6m (-87.0%), from €1.9m to €240,849
of which Non-recurring financial charges: -€1.4m
- Provisions -€1.2m
down €1.2m, from €700,000 to -€450,000
- Write-downs -€1.0m
down €1.0m, from €216,105 to -€826,016
- Turnover -€1.0m
no longer reported in 2024 (was €1.0m)
- Goods and materials -€801,865
down €801,865 (-87.8%), from €912,817 to €110,953
of which Change in stocks: decrease (increase): -€866,502
From the 2023 result to the 2024 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.
Result 2023
-€3.0m
Turnover
-€1.0m
Other operating income
-€27,282
Goods and materials
+€801,865
Services and other goods
+€680,805
Staff costs
+€123,214
Depreciation
+€17,033
Write-downs
+€1.0m
Provisions
+€1.2m
Other operating charges
+€21,529
Other operating items
-€251,510
Financial income
-€776,497
Financial charges
+€1.6m
Taxes
-€33,533
Deferred taxes and other
+€254,761
Result 2024
€621,876
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€949,518
Investment
+€1.2m
Financing
€0
Cash 2023
€54,190
From operations (derived)
-€949,518
Net result for the year
+€621,876
Receivables within one year
+€2.0m
Deferred charges and accrued income
-€37,511
Provisions
-€704,761
Trade debts
-€619,513
Tax, wage and social debts
-€123,871
Other debts
-€1.9m
Accrued charges and deferred income
-€168,920
Investment (derived)
+€1.2m
Investment in fixed assets (net)
+€1.2m
Cash 2024
€326,865
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,261,471 | €1,370,130 | -€2.9m | -67.8% |
| Fixed assets | 21/28 | €1,683,404 | €461,211 | -€1.2m | -72.6% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €1,683,404 | €461,211 | -€1.2m | -72.6% |
| Affiliated companies | 280/1 | €1,657,467 | €435,274 | -€1.2m | -73.7% |
| Participating interests | 280 | €1,175,367 | €60,174 | -€1.1m | -94.9% |
| Amounts receivable | 281 | €482,100 | €375,100 | -€107,000 | -22.2% |
| Other financial fixed assets | 284/8 | €25,938 | €25,938 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €25,938 | €25,938 | = | 0.0% |
| Current assets | 29/58 | €2,578,066 | €908,919 | -€1.7m | -64.7% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Goods purchased for resale | 34 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €2,510,812 | €531,479 | -€2.0m | -78.8% |
| Trade receivables | 40 | €1,880,020 | €403,144 | -€1.5m | -78.6% |
| Other amounts receivable | 41 | €630,792 | €128,335 | -€502,457 | -79.7% |
| Cash at bank and in hand | 54/58 | €54,190 | €326,865 | +€272,675 | +503.2% |
| Deferred charges and accrued income | 490/1 | €13,064 | €50,575 | +€37,511 | +287.1% |
| Total equity and liabilities | 10/49 | €4,261,471 | €1,370,130 | -€2.9m | -67.8% |
| Equity | 10/15 | -€14,902,300 | -€14,280,423 | +€621,876 | +4.2% |
| Contributions | 10/11 | €26,400,782 | €26,400,782 | = | 0.0% |
| Capital | 10 | €26,400,779 | €26,400,779 | = | 0.0% |
| Issued capital | 100 | €26,400,779 | €26,400,779 | = | 0.0% |
| Outside capital | 11 | €3 | €3 | = | 0.0% |
| Share premium | 1100/10 | €3 | €3 | = | 0.0% |
| Reserves | 13 | €3,642,341 | €3,147,566 | -€494,775 | -13.6% |
| Non-distributable reserves | 130/1 | €584,294 | €584,294 | = | 0.0% |
| Legal reserve | 130 | €584,294 | €584,294 | = | 0.0% |
| Tax-exempt reserves | 132 | €494,775 | - | -€494,775 | |
| Distributable reserves | 133 | €2,563,273 | €2,563,273 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€44,945,422 | -€43,828,771 | +€1.1m | +2.5% |
| Provisions and deferred taxes | 16 | €954,761 | €250,000 | -€704,761 | -73.8% |
| Provisions for liabilities and charges | 160/5 | €700,000 | €250,000 | -€450,000 | -64.3% |
| Other liabilities and charges | 164/5 | €700,000 | €250,000 | -€450,000 | -64.3% |
| Deferred taxes | 168 | €254,761 | - | -€254,761 | |
| Amounts payable | 17/49 | €18,209,009 | €15,400,554 | -€2.8m | -15.4% |
| Amounts payable within one year | 42/48 | €18,040,089 | €15,400,554 | -€2.6m | -14.6% |
| Trade debts | 44 | €1,222,409 | €602,897 | -€619,513 | -50.7% |
| Suppliers | 440/4 | €1,222,409 | €602,897 | -€619,513 | -50.7% |
| Taxes, remuneration and social security | 45 | €126,971 | €3,100 | -€123,871 | -97.6% |
| Taxes | 450/3 | €3,100 | €3,100 | = | 0.0% |
| Remuneration and social security | 454/9 | €123,871 | - | -€123,871 | |
| Other amounts payable | 47/48 | €16,690,709 | €14,794,557 | -€1.9m | -11.4% |
| Accrued charges and deferred income | 492/3 | €168,920 | - | -€168,920 | |
| Operating income | 70/76A | €1,329,428 | €11,173 | -€1.3m | -99.2% |
| Turnover | 70 | €1,005,962 | - | -€1.0m | |
| Other operating income | 74 | €37,955 | €10,672 | -€27,282 | -71.9% |
| Non-recurring operating income | 76A | €285,512 | €501 | -€285,011 | -99.8% |
| Operating charges | 60/66A | €3,272,897 | -€597,170 | -€3.9m | |
| Goods for resale, raw materials and consumables | 60 | €912,817 | €110,953 | -€801,865 | -87.8% |
| Purchases | 600/8 | €46,315 | €110,953 | +€64,637 | +139.6% |
| Change in stocks: decrease (increase) | 609 | €866,502 | - | -€866,502 | |
| Services and other goods | 61 | €1,241,796 | €560,991 | -€680,805 | -54.8% |
| Remuneration, social security and pensions | 62 | €124,927 | €1,713 | -€123,214 | -98.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,033 | - | -€17,033 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €216,105 | -€826,016 | -€1.0m | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €700,000 | -€450,000 | -€1.2m | |
| Other operating charges | 640/8 | €26,718 | €5,189 | -€21,529 | -80.6% |
| Non-recurring operating charges | 66A | €33,501 | - | -€33,501 | |
| Operating profit (loss) | 9901 | -€1,943,469 | €608,343 | +€2.6m | |
| Financial income | 75/76B | €799,249 | €22,752 | -€776,497 | -97.2% |
| Recurring financial income | 75 | €799,249 | €22,752 | -€776,497 | -97.2% |
| Income from financial fixed assets | 750 | €20,914 | - | -€20,914 | |
| Income from current assets | 751 | - | €22,752 | +€22,752 | |
| Other financial income | 752/9 | €778,335 | - | -€778,335 | |
| Financial charges | 65/66B | €1,850,652 | €240,849 | -€1.6m | -87.0% |
| Recurring financial charges | 65 | €250,652 | €46,156 | -€204,496 | -81.6% |
| Debt charges | 650 | €79,170 | €250 | -€78,920 | -99.7% |
| Other financial charges | 652/9 | €171,481 | €45,905 | -€125,576 | -73.2% |
| Non-recurring financial charges | 66B | €1,600,000 | €194,693 | -€1.4m | -87.8% |
| Profit (loss) for the period before taxes | 9903 | -€2,994,871 | €390,247 | +€3.4m | |
| Transfer from deferred taxes | 780 | - | €254,761 | +€254,761 | |
| Income taxes | 67/77 | -€10,401 | €23,132 | +€33,533 | |
| Taxes | 670/3 | - | €23,132 | +€23,132 | |
| Tax adjustments and reversals of tax provisions | 77 | €10,401 | - | -€10,401 | |
| Profit (loss) for the period | 9904 | -€2,984,471 | €621,876 | +€3.6m | |
| Transfer from tax-exempt reserves | 789 | - | €494,775 | +€494,775 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,984,471 | €1,116,651 | +€4.1m |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.