DEMAZ: 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.
DEMAZ
Largest movements
- Receivables within one year -€51,619
down €51,619 (-37.3%), from €138,343 to €86,725
of which Trade receivables: -€51,619
- Cash -€15,053
down €15,053 (-86.7%), from €17,366 to €2,314
mainly Other debts (-€32,958) and Net result for the year (-€23,204)
- Deferred charges and accrued income +€4,600
new in 2025: €4,600
- Tangible fixed assets -€2,412
down €2,412 (-36.8%), from €6,546 to €4,134
- Other debts -€32,958
down €32,958 (-26.8%), from €123,043 to €90,085
- Profit (loss) carried forward -€23,204
down €23,204, from €6,230 to -€16,974
- Trade debts -€13,022
down €13,022 (-97.6%), from €13,344 to €322
- Tax, wage and social debts +€6,304
up €6,304 (+35.5%), from €17,769 to €24,073
of which Taxes: +€8,173
- Gross operating margin +€67,252
up €67,252, from -€45,659 to €21,593
- Staff costs +€27,596
up €27,596 (+207.8%), from €13,278 to €40,874
- Financial charges -€1,900
down €1,900 (-67.6%), from €2,810 to €910
- Other operating charges -€807
down €807 (-57.3%), from €1,408 to €600
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 | €166,105 | €101,622 | -€64,483 | -38.8% |
| Fixed assets | 21/28 | €10,396 | €7,984 | -€2,412 | -23.2% |
| Tangible fixed assets | 22/27 | €6,546 | €4,134 | -€2,412 | -36.8% |
| Furniture and vehicles | 24 | €6,546 | €4,134 | -€2,412 | -36.8% |
| Financial fixed assets | 28 | €3,850 | €3,850 | = | 0.0% |
| Current assets | 29/58 | €155,710 | €93,638 | -€62,071 | -39.9% |
| Amounts receivable within one year | 40/41 | €138,343 | €86,725 | -€51,619 | -37.3% |
| Trade receivables | 40 | €138,343 | €86,725 | -€51,619 | -37.3% |
| Other amounts receivable | 41 | - | €0 | = | |
| Cash at bank and in hand | 54/58 | €17,366 | €2,314 | -€15,053 | -86.7% |
| Deferred charges and accrued income | 490/1 | - | €4,600 | +€4,600 | |
| Total equity and liabilities | 10/49 | €166,105 | €101,622 | -€64,483 | -38.8% |
| Equity | 10/15 | €9,230 | -€13,974 | -€23,204 | |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €6,230 | -€16,974 | -€23,204 | |
| Amounts payable | 17/49 | €156,875 | €115,596 | -€41,280 | -26.3% |
| Amounts payable after more than one year | 17 | €1,115 | - | -€1,115 | |
| Financial debts | 170/4 | €1,115 | - | -€1,115 | |
| Amounts payable within one year | 42/48 | €155,760 | €115,596 | -€40,164 | -25.8% |
| Current portion of amounts payable after more than one year | 42 | €1,604 | €1,115 | -€488 | -30.4% |
| Trade debts | 44 | €13,344 | €322 | -€13,022 | -97.6% |
| Suppliers | 440/4 | €13,344 | €322 | -€13,022 | -97.6% |
| Taxes, remuneration and social security | 45 | €17,769 | €24,073 | +€6,304 | +35.5% |
| Taxes | 450/3 | €15,900 | €24,073 | +€8,173 | +51.4% |
| Remuneration and social security | 454/9 | €1,869 | - | -€1,869 | |
| Other amounts payable | 47/48 | €123,043 | €90,085 | -€32,958 | -26.8% |
| Remuneration, social security and pensions | 62 | €13,278 | €40,874 | +€27,596 | +207.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,822 | €2,412 | -€410 | -14.5% |
| Other operating charges | 640/8 | €1,408 | €600 | -€807 | -57.3% |
| Gross operating margin | 9900 | -€45,659 | €21,593 | +€67,252 | |
| Operating profit (loss) | 9901 | -€63,167 | -€22,294 | +€40,874 | +64.7% |
| Financial charges | 65/66B | €2,810 | €910 | -€1,900 | -67.6% |
| Recurring financial charges | 65 | €2,810 | €910 | -€1,900 | -67.6% |
| Profit (loss) for the period before taxes | 9903 | -€65,977 | -€23,204 | +€42,773 | +64.8% |
| Profit (loss) for the period | 9904 | -€65,977 | -€23,204 | +€42,773 | +64.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€65,977 | -€23,204 | +€42,773 | +64.8% |
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 12 October 2026 via checked.be.