DEMBUS: 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.
DEMBUS
Largest movements
- Financial fixed assets +€1.0m
up €1.0m (+561111.1%), from €180 to €1.0m
- Receivables within one year +€64,488
up €64,488 (+262.2%), from €24,597 to €89,084
of which Trade receivables: +€64,285
- Cash +€50,216
up €50,216 (+94.6%), from €53,062 to €103,277
mainly Debts after one year (+€503,565) and Other debts (+€357,377)
- Tangible fixed assets -€49,479
down €49,479 (-76.0%), from €65,111 to €15,632
- Debts after one year +€503,565
new in 2025: €503,565
- Other debts +€357,377
up €357,377 (+3573.3%), from €10,001 to €367,378
- Profit (loss) carried forward +€105,517
up €105,517 (+88.3%), from €119,560 to €225,078
- Current portion of long-term debt +€83,824
new in 2025: €83,824
- Tax, wage and social debts +€17,361
up €17,361 (+111.0%), from €15,644 to €33,005
of which Taxes: +€18,131
- Gross operating margin +€60,287
up €60,287 (+32.4%), from €186,323 to €246,610
- Financial charges +€17,893
up €17,893 (+5308.3%), from €337 to €18,230
- Staff costs -€15,112
down €15,112 (-21.0%), from €71,993 to €56,881
- Other operating charges +€14,584
up €14,584 (+285.2%), from €5,114 to €19,698
- Taxes +€13,454
up €13,454 (+55.4%), from €24,274 to €37,727
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 | €172,807 | €1,250,359 | +€1.1m | +623.6% |
| Fixed assets | 21/28 | €74,954 | €1,031,931 | +€956,978 | +1276.8% |
| Intangible fixed assets | 21 | €9,663 | €6,119 | -€3,543 | -36.7% |
| Tangible fixed assets | 22/27 | €65,111 | €15,632 | -€49,479 | -76.0% |
| Plant, machinery and equipment | 23 | €25,385 | €1,646 | -€23,739 | -93.5% |
| Furniture and vehicles | 24 | €20,285 | €13,986 | -€6,299 | -31.1% |
| Other tangible fixed assets | 26 | €19,442 | - | -€19,442 | |
| Financial fixed assets | 28 | €180 | €1,010,180 | +€1.0m | +561111.1% |
| Current assets | 29/58 | €97,853 | €218,428 | +€120,575 | +123.2% |
| Stocks and contracts in progress | 3 | €16,713 | €23,513 | +€6,800 | +40.7% |
| Stocks | 30/36 | €16,713 | €23,513 | +€6,800 | +40.7% |
| Amounts receivable within one year | 40/41 | €24,597 | €89,084 | +€64,488 | +262.2% |
| Trade receivables | 40 | €24,211 | €88,496 | +€64,285 | +265.5% |
| Other amounts receivable | 41 | €385 | €589 | +€203 | +52.7% |
| Cash at bank and in hand | 54/58 | €53,062 | €103,277 | +€50,216 | +94.6% |
| Deferred charges and accrued income | 490/1 | €3,482 | €2,553 | -€929 | -26.7% |
| Total equity and liabilities | 10/49 | €172,807 | €1,250,359 | +€1.1m | +623.6% |
| Equity | 10/15 | €138,160 | €243,678 | +€105,517 | +76.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €119,560 | €225,078 | +€105,517 | +88.3% |
| Amounts payable | 17/49 | €34,647 | €1,006,681 | +€972,035 | +2805.6% |
| Amounts payable after more than one year | 17 | - | €503,565 | +€503,565 | |
| Financial debts | 170/4 | - | €503,565 | +€503,565 | |
| Amounts payable within one year | 42/48 | €34,647 | €501,364 | +€466,717 | +1347.1% |
| Current portion of amounts payable after more than one year | 42 | - | €83,824 | +€83,824 | |
| Trade debts | 44 | €9,002 | €17,156 | +€8,155 | +90.6% |
| Suppliers | 440/4 | €9,002 | €17,156 | +€8,155 | +90.6% |
| Taxes, remuneration and social security | 45 | €15,644 | €33,005 | +€17,361 | +111.0% |
| Taxes | 450/3 | €9,268 | €27,399 | +€18,131 | +195.6% |
| Remuneration and social security | 454/9 | €6,376 | €5,606 | -€770 | -12.1% |
| Other amounts payable | 47/48 | €10,001 | €367,378 | +€357,377 | +3573.3% |
| Accrued charges and deferred income | 492/3 | - | €1,752 | +€1,752 | |
| Remuneration, social security and pensions | 62 | €71,993 | €56,881 | -€15,112 | -21.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,226 | €9,280 | -€6,946 | -42.8% |
| Other operating charges | 640/8 | €5,114 | €19,698 | +€14,584 | +285.2% |
| Gross operating margin | 9900 | €186,323 | €246,610 | +€60,287 | +32.4% |
| Operating profit (loss) | 9901 | €92,990 | €160,752 | +€67,762 | +72.9% |
| Financial income | 75/76B | €17 | €723 | +€706 | +4162.9% |
| Recurring financial income | 75 | €17 | €723 | +€706 | +4162.9% |
| Financial charges | 65/66B | €337 | €18,230 | +€17,893 | +5308.3% |
| Recurring financial charges | 65 | €337 | €18,230 | +€17,893 | +5308.3% |
| Profit (loss) for the period before taxes | 9903 | €92,670 | €143,245 | +€50,574 | +54.6% |
| Income taxes | 67/77 | €24,274 | €37,727 | +€13,454 | +55.4% |
| Profit (loss) for the period | 9904 | €68,397 | €105,517 | +€37,121 | +54.3% |
| Profit (loss) for the period to be appropriated | 9905 | €68,397 | €105,517 | +€37,121 | +54.3% |
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 9 October 2026 via checked.be.