DEMAX BERTRIX: 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.
DEMAX BERTRIX
Largest movements
- Tangible fixed assets +€139,063
up €139,063 (+26.2%), from €531,573 to €670,636
of which Land and buildings: +€76,825
- Receivables within one year +€41,288
up €41,288 (+133.2%), from €31,005 to €72,293
of which Trade receivables: +€47,152
- Intangible fixed assets -€20,000
down €20,000 (-11.8%), from €170,000 to €150,000
- Debts after one year +€102,582
up €102,582 (+62.8%), from €163,398 to €265,981
- Reserves +€53,000
up €53,000 (+72.6%), from €73,000 to €126,000
- Trade debts +€25,148
up €25,148 (+60.6%), from €41,470 to €66,617
- Other debts -€17,976
down €17,976 (-5.7%), from €316,352 to €298,376
- Tax, wage and social debts -€13,520
down €13,520 (-28.2%), from €48,017 to €34,497
of which Taxes: -€15,268
- Turnover -€213,344
down €213,344 (-17.6%), from €1.2m to €997,410
- Purchases and services -€148,750
down €148,750 (-18.9%), from €786,735 to €637,985
- Gross operating margin -€40,632
down €40,632 (-9.0%), from €453,401 to €412,769
- Staff costs -€13,565
down €13,565 (-6.5%), from €207,473 to €193,908
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 | €873,248 | €1,031,125 | +€157,877 | +18.1% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €702,288 | €821,351 | +€119,063 | +17.0% |
| Intangible fixed assets | 21 | €170,000 | €150,000 | -€20,000 | -11.8% |
| Tangible fixed assets | 22/27 | €531,573 | €670,636 | +€139,063 | +26.2% |
| Land and buildings | 22 | €401,838 | €478,663 | +€76,825 | +19.1% |
| Plant, machinery and equipment | 23 | €109,801 | €177,709 | +€67,908 | +61.8% |
| Furniture and vehicles | 24 | €19,934 | €14,265 | -€5,670 | -28.4% |
| Financial fixed assets | 28 | €715 | €715 | = | 0.0% |
| Current assets | 29/58 | €170,960 | €209,774 | +€38,814 | +22.7% |
| Stocks and contracts in progress | 3 | €16,750 | €17,500 | +€750 | +4.5% |
| Stocks | 30/36 | €16,750 | €17,500 | +€750 | +4.5% |
| Amounts receivable within one year | 40/41 | €31,005 | €72,293 | +€41,288 | +133.2% |
| Trade receivables | 40 | €15,829 | €62,980 | +€47,152 | +297.9% |
| Other amounts receivable | 41 | €15,176 | €9,313 | -€5,863 | -38.6% |
| Cash at bank and in hand | 54/58 | €115,938 | €108,094 | -€7,844 | -6.8% |
| Deferred charges and accrued income | 490/1 | €7,267 | €11,887 | +€4,620 | +63.6% |
| Total equity and liabilities | 10/49 | €873,248 | €1,031,125 | +€157,877 | +18.1% |
| Equity | 10/15 | €273,788 | €327,313 | +€53,526 | +19.6% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €73,000 | €126,000 | +€53,000 | +72.6% |
| Distributable reserves | 133 | €73,000 | €126,000 | +€53,000 | +72.6% |
| Profit (loss) carried forward | 14 | €788 | €1,313 | +€526 | +66.7% |
| Amounts payable | 17/49 | €599,460 | €703,812 | +€104,351 | +17.4% |
| Amounts payable after more than one year | 17 | €163,398 | €265,981 | +€102,582 | +62.8% |
| Financial debts | 170/4 | €163,398 | €265,981 | +€102,582 | +62.8% |
| Amounts payable within one year | 42/48 | €436,062 | €437,831 | +€1,769 | +0.4% |
| Current portion of amounts payable after more than one year | 42 | €30,224 | €38,341 | +€8,117 | +26.9% |
| Trade debts | 44 | €41,470 | €66,617 | +€25,148 | +60.6% |
| Suppliers | 440/4 | €41,470 | €66,617 | +€25,148 | +60.6% |
| Taxes, remuneration and social security | 45 | €48,017 | €34,497 | -€13,520 | -28.2% |
| Taxes | 450/3 | €34,838 | €19,570 | -€15,268 | -43.8% |
| Remuneration and social security | 454/9 | €13,179 | €14,926 | +€1,747 | +13.3% |
| Other amounts payable | 47/48 | €316,352 | €298,376 | -€17,976 | -5.7% |
| Turnover | 70 | €1,210,754 | €997,410 | -€213,344 | -17.6% |
| Non-recurring operating income | 76A | €971 | €2,082 | +€1,111 | +114.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €786,735 | €637,985 | -€148,750 | -18.9% |
| Remuneration, social security and pensions | 62 | €207,473 | €193,908 | -€13,565 | -6.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,040 | €104,270 | +€3,230 | +3.2% |
| Other operating charges | 640/8 | €8,063 | €6,394 | -€1,669 | -20.7% |
| Non-recurring operating charges | 66A | €1,630 | €2,699 | +€1,069 | +65.6% |
| Gross operating margin | 9900 | €453,401 | €412,769 | -€40,632 | -9.0% |
| Operating profit (loss) | 9901 | €135,195 | €105,498 | -€29,697 | -22.0% |
| Financial charges | 65/66B | €26,645 | €29,046 | +€2,402 | +9.0% |
| Recurring financial charges | 65 | €26,645 | €29,046 | +€2,402 | +9.0% |
| Profit (loss) for the period before taxes | 9903 | €108,550 | €76,452 | -€32,099 | -29.6% |
| Income taxes | 67/77 | €34,763 | €22,926 | -€11,837 | -34.0% |
| Profit (loss) for the period | 9904 | €73,788 | €53,526 | -€20,262 | -27.5% |
| Profit (loss) for the period to be appropriated | 9905 | €73,788 | €53,526 | -€20,262 | -27.5% |
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 3 October 2026 via checked.be.