DEMA: 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.
DEMA
Largest movements
- Tangible fixed assets +€7.5m
up €7.5m (+393%), from €1.9m to €9.4m
of which Land and buildings: +€7.5m
- Revaluation surpluses +€7.6m
new in 2025: €7.6m
- Debts after one year +€406,415
up €406,415 (+12.1%), from €3.3m to €3.8m
- Other debts -€283,383
down €283,383 (-99.3%), from €285,383 to €2,000
- Profit (loss) carried forward -€172,405
down €172,405 (-8.8%), from -€2.0m to -€2.1m
- Depreciation -€16,152
down €16,152 (-10.9%), from €148,496 to €132,343
- Gross operating margin -€7,415
down €7,415 (-25.5%), from €29,035 to €21,620
- Financial income +€2,702
up €2,702 (+40.9%), from €6,602 to €9,304
- Financial charges +€783
up €783 (+1.3%), from €60,271 to €61,054
- Other operating charges -€367
down €367 (-3.6%), from €10,298 to €9,931
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 | €2,090,346 | €9,642,767 | +€7.6m | +361% |
| Fixed assets | 21/28 | €1,905,873 | €9,401,200 | +€7.5m | +393% |
| Tangible fixed assets | 22/27 | €1,905,673 | €9,401,000 | +€7.5m | +393% |
| Land and buildings | 22 | €1,838,186 | €9,349,615 | +€7.5m | +409% |
| Plant, machinery and equipment | 23 | €61,006 | €45,774 | -€15,232 | -25.0% |
| Furniture and vehicles | 24 | €6,480 | €5,610 | -€870 | -13.4% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €184,474 | €241,567 | +€57,093 | +30.9% |
| Stocks and contracts in progress | 3 | €10,343 | €0 | -€10,343 | -100% |
| Stocks | 30/36 | €10,343 | €0 | -€10,343 | -100% |
| Amounts receivable within one year | 40/41 | €165,369 | €237,423 | +€72,054 | +43.6% |
| Trade receivables | 40 | €10,325 | €7,268 | -€3,058 | -29.6% |
| Other amounts receivable | 41 | €155,043 | €230,155 | +€75,112 | +48.4% |
| Cash at bank and in hand | 54/58 | €1,443 | €3,412 | +€1,970 | +136% |
| Deferred charges and accrued income | 490/1 | €7,319 | €731 | -€6,588 | -90.0% |
| Total equity and liabilities | 10/49 | €2,090,346 | €9,642,767 | +€7.6m | +361% |
| Equity | 10/15 | -€1,561,520 | €5,883,403 | +€7.4m | |
| Contributions | 10/11 | €396,630 | €396,630 | = | 0.0% |
| Capital | 10 | €396,630 | €396,630 | = | 0.0% |
| Issued capital | 100 | €396,630 | €396,630 | = | 0.0% |
| Revaluation surpluses | 12 | - | €7,617,328 | +€7.6m | |
| Profit (loss) carried forward | 14 | -€1,958,149 | -€2,130,554 | -€172,405 | -8.8% |
| Amounts payable | 17/49 | €3,651,866 | €3,759,364 | +€107,498 | +2.9% |
| Amounts payable after more than one year | 17 | €3,349,086 | €3,755,501 | +€406,415 | +12.1% |
| Financial debts | 170/4 | €3,349,086 | €3,755,501 | +€406,415 | +12.1% |
| Amounts payable within one year | 42/48 | €302,780 | €3,863 | -€298,917 | -98.7% |
| Trade debts | 44 | €17,397 | €1,863 | -€15,534 | -89.3% |
| Suppliers | 440/4 | €17,397 | €1,863 | -€15,534 | -89.3% |
| Other amounts payable | 47/48 | €285,383 | €2,000 | -€283,383 | -99.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €148,496 | €132,343 | -€16,152 | -10.9% |
| Other operating charges | 640/8 | €10,298 | €9,931 | -€367 | -3.6% |
| Gross operating margin | 9900 | €29,035 | €21,620 | -€7,415 | -25.5% |
| Operating profit (loss) | 9901 | -€129,759 | -€120,655 | +€9,104 | +7.0% |
| Financial income | 75/76B | €6,602 | €9,304 | +€2,702 | +40.9% |
| Recurring financial income | 75 | €6,602 | €9,304 | +€2,702 | +40.9% |
| Financial charges | 65/66B | €60,271 | €61,054 | +€783 | +1.3% |
| Recurring financial charges | 65 | €60,271 | €61,054 | +€783 | +1.3% |
| Profit (loss) for the period before taxes | 9903 | -€183,429 | -€172,405 | +€11,023 | +6.0% |
| Profit (loss) for the period | 9904 | -€183,429 | -€172,405 | +€11,023 | +6.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€183,429 | -€172,405 | +€11,023 | +6.0% |
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 15 October 2026 via checked.be.