DEMAR - LUX: 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.
DEMAR - LUX
Largest movements
- Receivables within one year -€456,775
down €456,775 (-47.0%), from €971,396 to €514,621
of which Trade receivables: -€468,662
- Cash -€264,799
down €264,799 (-40.1%), from €661,150 to €396,351
mainly Short-term financial debts (-€700,000) and Investment in fixed assets (net) (-€44,079)
- Stocks and contracts -€41,390
down €41,390 (-1.9%), from €2.2m to €2.2m
- Short-term financial debts -€700,000
down €700,000 (-73.7%), from €950,000 to €250,000
- Profit (loss) carried forward +€42,214
up €42,214 (+2.4%), from €1.8m to €1.8m
- Gross operating margin -€61,691
down €61,691 (-17.3%), from €356,112 to €294,421
- Staff costs -€55,591
down €55,591 (-23.0%), from €241,243 to €185,652
- Financial income -€50,190
down €50,190 (-58.0%), from €86,468 to €36,278
- Taxes -€12,193
down €12,193 (-36.8%), from €33,150 to €20,956
- Depreciation -€11,606
down €11,606 (-25.4%), from €45,644 to €34,038
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 | €4,015,142 | €3,257,083 | -€758,058 | -18.9% |
| Fixed assets | 21/28 | €140,707 | €150,748 | +€10,041 | +7.1% |
| Tangible fixed assets | 22/27 | €129,523 | €139,563 | +€10,041 | +7.8% |
| Plant, machinery and equipment | 23 | €20,975 | €19,118 | -€1,857 | -8.9% |
| Furniture and vehicles | 24 | €108,547 | €120,445 | +€11,898 | +11.0% |
| Financial fixed assets | 28 | €11,184 | €11,184 | = | 0.0% |
| Current assets | 29/58 | €3,874,435 | €3,106,336 | -€768,099 | -19.8% |
| Stocks and contracts in progress | 3 | €2,228,507 | €2,187,117 | -€41,390 | -1.9% |
| Stocks | 30/36 | €2,228,507 | €2,187,117 | -€41,390 | -1.9% |
| Amounts receivable within one year | 40/41 | €971,396 | €514,621 | -€456,775 | -47.0% |
| Trade receivables | 40 | €949,550 | €480,888 | -€468,662 | -49.4% |
| Other amounts receivable | 41 | €21,847 | €33,733 | +€11,887 | +54.4% |
| Cash at bank and in hand | 54/58 | €661,150 | €396,351 | -€264,799 | -40.1% |
| Deferred charges and accrued income | 490/1 | €13,381 | €8,246 | -€5,135 | -38.4% |
| Total equity and liabilities | 10/49 | €4,015,142 | €3,257,083 | -€758,058 | -18.9% |
| Equity | 10/15 | €2,679,167 | €2,721,382 | +€42,214 | +1.6% |
| Contributions | 10/11 | €15,747 | €15,747 | = | 0.0% |
| Reserves | 13 | €896,559 | €896,559 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,574 | €1,574 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,574 | €1,574 | = | 0.0% |
| Distributable reserves | 133 | €894,985 | €894,985 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,766,861 | €1,809,075 | +€42,214 | +2.4% |
| Amounts payable | 17/49 | €1,335,974 | €535,701 | -€800,273 | -59.9% |
| Amounts payable after more than one year | 17 | €49,490 | €20,152 | -€29,338 | -59.3% |
| Financial debts | 170/4 | €49,490 | €20,152 | -€29,338 | -59.3% |
| Amounts payable within one year | 42/48 | €1,286,484 | €515,549 | -€770,935 | -59.9% |
| Current portion of amounts payable after more than one year | 42 | €28,302 | €29,338 | +€1,036 | +3.7% |
| Financial debts | 43 | €950,000 | €250,000 | -€700,000 | -73.7% |
| Credit institutions | 430/8 | €950,000 | €250,000 | -€700,000 | -73.7% |
| Trade debts | 44 | €133,072 | €119,478 | -€13,594 | -10.2% |
| Suppliers | 440/4 | €133,072 | €119,478 | -€13,594 | -10.2% |
| Taxes, remuneration and social security | 45 | €99,899 | €72,872 | -€27,026 | -27.1% |
| Taxes | 450/3 | €85,752 | €61,374 | -€24,378 | -28.4% |
| Remuneration and social security | 454/9 | €14,147 | €11,498 | -€2,649 | -18.7% |
| Other amounts payable | 47/48 | €75,211 | €43,862 | -€31,350 | -41.7% |
| Remuneration, social security and pensions | 62 | €241,243 | €185,652 | -€55,591 | -23.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,644 | €34,038 | -€11,606 | -25.4% |
| Other operating charges | 640/8 | €3,955 | €3,748 | -€207 | -5.2% |
| Gross operating margin | 9900 | €356,112 | €294,421 | -€61,691 | -17.3% |
| Operating profit (loss) | 9901 | €65,271 | €70,984 | +€5,713 | +8.8% |
| Financial income | 75/76B | €86,468 | €36,278 | -€50,190 | -58.0% |
| Recurring financial income | 75 | €86,468 | €36,278 | -€50,190 | -58.0% |
| Financial charges | 65/66B | €54,603 | €44,092 | -€10,511 | -19.3% |
| Recurring financial charges | 65 | €54,603 | €44,092 | -€10,511 | -19.3% |
| Profit (loss) for the period before taxes | 9903 | €97,136 | €63,171 | -€33,966 | -35.0% |
| Income taxes | 67/77 | €33,150 | €20,956 | -€12,193 | -36.8% |
| Profit (loss) for the period | 9904 | €63,987 | €42,214 | -€21,772 | -34.0% |
| Profit (loss) for the period to be appropriated | 9905 | €63,987 | €42,214 | -€21,772 | -34.0% |
Source: filed annual accounts (NBB), financial years ended 31 July 2024 and 31 July 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.