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 -€52,223
down €52,223 (-4.0%), from €1.3m to €1.2m
of which Land and buildings: -€49,824
- Debts after one year -€94,206
down €94,206 (-7.6%), from €1.2m to €1.1m
- Reserves +€39,650
up €39,650 (+21.2%), from €186,731 to €226,381
- Depreciation -€6,981
down €6,981 (-11.8%), from €59,203 to €52,223
- Financial charges -€2,831
down €2,831 (-5.9%), from €47,710 to €44,879
- Gross operating margin -€1,787
down €1,787 (-1.1%), from €164,701 to €162,914
- Taxes +€1,679
up €1,679 (+9.6%), from €17,530 to €19,209
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.
Cash bridge derived
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 | €1,534,367 | €1,486,874 | -€47,492 | -3.1% |
| Fixed assets | 21/28 | €1,470,637 | €1,418,414 | -€52,223 | -3.6% |
| Tangible fixed assets | 22/27 | €1,290,837 | €1,238,614 | -€52,223 | -4.0% |
| Land and buildings | 22 | €1,288,239 | €1,238,416 | -€49,824 | -3.9% |
| Furniture and vehicles | 24 | €2,598 | €199 | -€2,399 | -92.4% |
| Financial fixed assets | 28 | €179,800 | €179,800 | = | 0.0% |
| Current assets | 29/58 | €63,730 | €68,460 | +€4,730 | +7.4% |
| Amounts receivable within one year | 40/41 | - | €42 | +€42 | |
| Other amounts receivable | 41 | - | €42 | +€42 | |
| Cash at bank and in hand | 54/58 | €63,404 | €68,181 | +€4,777 | +7.5% |
| Deferred charges and accrued income | 490/1 | €326 | €237 | -€90 | -27.5% |
| Total equity and liabilities | 10/49 | €1,534,367 | €1,486,874 | -€47,492 | -3.1% |
| Equity | 10/15 | €192,931 | €232,581 | +€39,650 | +20.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €186,731 | €226,381 | +€39,650 | +21.2% |
| Distributable reserves | 133 | €186,731 | €226,381 | +€39,650 | +21.2% |
| Amounts payable | 17/49 | €1,341,436 | €1,254,294 | -€87,142 | -6.5% |
| Amounts payable after more than one year | 17 | €1,238,366 | €1,144,160 | -€94,206 | -7.6% |
| Financial debts | 170/4 | €1,238,366 | €1,144,160 | -€94,206 | -7.6% |
| Amounts payable within one year | 42/48 | €103,070 | €109,715 | +€6,645 | +6.4% |
| Current portion of amounts payable after more than one year | 42 | €91,152 | €94,206 | +€3,055 | +3.4% |
| Trade debts | 44 | €339 | €21 | -€318 | -93.7% |
| Suppliers | 440/4 | €339 | €21 | -€318 | -93.7% |
| Taxes, remuneration and social security | 45 | €10,140 | €14,224 | +€4,084 | +40.3% |
| Taxes | 450/3 | €10,140 | €14,224 | +€4,084 | +40.3% |
| Other amounts payable | 47/48 | €1,439 | €1,263 | -€176 | -12.2% |
| Accrued charges and deferred income | 492/3 | - | €419 | +€419 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €59,203 | €52,223 | -€6,981 | -11.8% |
| Other operating charges | 640/8 | €6,131 | €6,954 | +€823 | +13.4% |
| Gross operating margin | 9900 | €164,701 | €162,914 | -€1,787 | -1.1% |
| Operating profit (loss) | 9901 | €99,366 | €103,737 | +€4,371 | +4.4% |
| Financial charges | 65/66B | €47,710 | €44,879 | -€2,831 | -5.9% |
| Recurring financial charges | 65 | €47,710 | €44,879 | -€2,831 | -5.9% |
| Profit (loss) for the period before taxes | 9903 | €51,657 | €58,859 | +€7,202 | +13.9% |
| Income taxes | 67/77 | €17,530 | €19,209 | +€1,679 | +9.6% |
| Profit (loss) for the period | 9904 | €34,127 | €39,650 | +€5,523 | +16.2% |
| Profit (loss) for the period to be appropriated | 9905 | €34,127 | €39,650 | +€5,523 | +16.2% |
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 11 October 2026 via checked.be.