DEMASS: 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.
DEMASS
Largest movements
- Current investments -€130,000
down €130,000 (-93.0%), from €139,800 to €9,800
- Tangible fixed assets +€95,025
up €95,025 (+216.8%), from €43,836 to €138,861
of which Plant, machinery and equipment: +€100,186
- Cash +€58,520
up €58,520 (+150.4%), from €38,917 to €97,436
mainly Current investments (+€130,000) and Net result for the year (+€33,974)
- Receivables within one year -€9,276
down €9,276 (-67.6%), from €13,717 to €4,441
of which Trade receivables: -€7,122
- Reserves +€15,500
up €15,500 (+9.1%), from €171,000 to €186,500
- Tax, wage and social debts -€10,680
down €10,680 (-73.2%), from €14,588 to €3,908
- Other debts +€5,221
up €5,221 (+29.0%), from €17,995 to €23,216
- Trade debts +€3,995
up €3,995 (+68.9%), from €5,797 to €9,792
- Depreciation +€19,582
up €19,582 (+202.6%), from €9,668 to €29,250
- Taxes -€8,438
down €8,438 (-41.6%), from €20,294 to €11,856
- Gross operating margin +€6,473
up €6,473 (+9.4%), from €68,953 to €75,426
- Financial income -€1,764
down €1,764 (-60.2%), from €2,932 to €1,168
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 | €237,169 | €251,524 | +€14,355 | +6.1% |
| Fixed assets | 21/28 | €43,836 | €138,861 | +€95,025 | +216.8% |
| Tangible fixed assets | 22/27 | €43,836 | €138,861 | +€95,025 | +216.8% |
| Land and buildings | 22 | €30,345 | €30,345 | = | 0.0% |
| Plant, machinery and equipment | 23 | €7,554 | €107,740 | +€100,186 | +1326.3% |
| Furniture and vehicles | 24 | €5,938 | €776 | -€5,161 | -86.9% |
| Current assets | 29/58 | €193,332 | €112,663 | -€80,670 | -41.7% |
| Amounts receivable within one year | 40/41 | €13,717 | €4,441 | -€9,276 | -67.6% |
| Trade receivables | 40 | €9,360 | €2,238 | -€7,122 | -76.1% |
| Other amounts receivable | 41 | €4,357 | €2,203 | -€2,154 | -49.4% |
| Current investments | 50/53 | €139,800 | €9,800 | -€130,000 | -93.0% |
| Cash at bank and in hand | 54/58 | €38,917 | €97,436 | +€58,520 | +150.4% |
| Deferred charges and accrued income | 490/1 | €899 | €985 | +€86 | +9.6% |
| Total equity and liabilities | 10/49 | €237,169 | €251,524 | +€14,355 | +6.1% |
| Equity | 10/15 | €198,633 | €214,608 | +€15,974 | +8.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €171,000 | €186,500 | +€15,500 | +9.1% |
| Distributable reserves | 133 | €171,000 | €186,500 | +€15,500 | +9.1% |
| Profit (loss) carried forward | 14 | €7,633 | €8,108 | +€474 | +6.2% |
| Amounts payable | 17/49 | €38,536 | €36,916 | -€1,619 | -4.2% |
| Amounts payable within one year | 42/48 | €38,380 | €36,916 | -€1,464 | -3.8% |
| Trade debts | 44 | €5,797 | €9,792 | +€3,995 | +68.9% |
| Suppliers | 440/4 | €5,797 | €9,792 | +€3,995 | +68.9% |
| Taxes, remuneration and social security | 45 | €14,588 | €3,908 | -€10,680 | -73.2% |
| Taxes | 450/3 | €14,588 | €3,908 | -€10,680 | -73.2% |
| Other amounts payable | 47/48 | €17,995 | €23,216 | +€5,221 | +29.0% |
| Accrued charges and deferred income | 492/3 | €156 | €0 | -€156 | -100.0% |
| Non-recurring operating income | 76A | €25,000 | €2,000 | -€23,000 | -92.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,668 | €29,250 | +€19,582 | +202.6% |
| Other operating charges | 640/8 | €978 | €933 | -€45 | -4.6% |
| Gross operating margin | 9900 | €68,953 | €75,426 | +€6,473 | +9.4% |
| Operating profit (loss) | 9901 | €58,307 | €45,243 | -€13,064 | -22.4% |
| Financial income | 75/76B | €2,932 | €1,168 | -€1,764 | -60.2% |
| Recurring financial income | 75 | €2,932 | €1,168 | -€1,764 | -60.2% |
| Financial charges | 65/66B | -€9 | €581 | +€590 | |
| Recurring financial charges | 65 | -€9 | €581 | +€590 | |
| Profit (loss) for the period before taxes | 9903 | €61,248 | €45,830 | -€15,418 | -25.2% |
| Income taxes | 67/77 | €20,294 | €11,856 | -€8,438 | -41.6% |
| Profit (loss) for the period | 9904 | €40,954 | €33,974 | -€6,980 | -17.0% |
| Profit (loss) for the period to be appropriated | 9905 | €40,954 | €33,974 | -€6,980 | -17.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.