DEMAD: 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.
DEMAD
Largest movements
- Cash -€13,631
down €13,631 (-26.2%), from €51,947 to €38,316
mainly Contributions, distributions and other (-€121,419) and Net result for the year (-€9,893)
- Financial fixed assets -€10,000
down €10,000 (-16.7%), from €60,000 to €50,000
- Other debts +€105,348
up €105,348 (+296.5%), from €35,529 to €140,877
- Profit (loss) carried forward -€81,020
no longer reported in 2025 (was €81,020)
- Reserves -€50,292
down €50,292 (-25.8%), from €194,703 to €144,412
of which Distributable reserves: -€50,292
- Gross operating margin -€10,126
down €10,126, from €4,018 to -€6,109
- Depreciation -€1,216
down €1,216 (-28.2%), from €4,315 to €3,099
- Taxes -€194
no longer reported in 2025 (was €194)
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 | €330,957 | €304,854 | -€26,102 | -7.9% |
| Fixed assets | 21/28 | €77,583 | €64,484 | -€13,099 | -16.9% |
| Tangible fixed assets | 22/27 | €17,583 | €14,484 | -€3,099 | -17.6% |
| Land and buildings | 22 | €17,298 | €14,484 | -€2,815 | -16.3% |
| Plant, machinery and equipment | 23 | €284 | - | -€284 | |
| Financial fixed assets | 28 | €60,000 | €50,000 | -€10,000 | -16.7% |
| Current assets | 29/58 | €253,374 | €240,371 | -€13,003 | -5.1% |
| Stocks and contracts in progress | 3 | €150,370 | €150,370 | = | 0.0% |
| Stocks | 30/36 | €150,370 | €150,370 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €47,672 | €47,791 | +€119 | +0.3% |
| Trade receivables | 40 | €546 | €39 | -€507 | -92.9% |
| Other amounts receivable | 41 | €47,126 | €47,752 | +€626 | +1.3% |
| Cash at bank and in hand | 54/58 | €51,947 | €38,316 | -€13,631 | -26.2% |
| Deferred charges and accrued income | 490/1 | €3,386 | €3,894 | +€509 | +15.0% |
| Total equity and liabilities | 10/49 | €330,957 | €304,854 | -€26,102 | -7.9% |
| Equity | 10/15 | €294,323 | €163,012 | -€131,312 | -44.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €194,703 | €144,412 | -€50,292 | -25.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €192,843 | €142,552 | -€50,292 | -26.1% |
| Profit (loss) carried forward | 14 | €81,020 | - | -€81,020 | |
| Amounts payable | 17/49 | €36,633 | €141,843 | +€105,209 | +287.2% |
| Amounts payable within one year | 42/48 | €36,633 | €141,843 | +€105,209 | +287.2% |
| Trade debts | 44 | €911 | €966 | +€55 | +6.0% |
| Suppliers | 440/4 | €911 | €966 | +€55 | +6.0% |
| Taxes, remuneration and social security | 45 | €194 | - | -€194 | |
| Taxes | 450/3 | €194 | - | -€194 | |
| Other amounts payable | 47/48 | €35,529 | €140,877 | +€105,348 | +296.5% |
| Non-recurring operating income | 76A | €12,500 | - | -€12,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,315 | €3,099 | -€1,216 | -28.2% |
| Other operating charges | 640/8 | €1,101 | €1,141 | +€40 | +3.6% |
| Gross operating margin | 9900 | €4,018 | -€6,109 | -€10,126 | |
| Operating profit (loss) | 9901 | -€1,399 | -€10,349 | -€8,951 | -640.0% |
| Financial income | 75/76B | €500 | €500 | = | 0.0% |
| Recurring financial income | 75 | €500 | €500 | = | 0.0% |
| Financial charges | 65/66B | €39 | €44 | +€5 | +11.5% |
| Recurring financial charges | 65 | €39 | €44 | +€5 | +11.5% |
| Profit (loss) for the period before taxes | 9903 | -€938 | -€9,893 | -€8,955 | -955.2% |
| Income taxes | 67/77 | €194 | - | -€194 | |
| Profit (loss) for the period | 9904 | -€1,131 | -€9,893 | -€8,762 | -774.6% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,131 | -€9,893 | -€8,762 | -774.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.