DEMCONET: 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.
DEMCONET
Largest movements
- Cash -€90,741
down €90,741 (-35.2%), from €258,118 to €167,377
mainly Net result for the year (-€89,817) and Other debts (-€6,147)
- Receivables within one year -€5,067
down €5,067 (-93.7%), from €5,410 to €343
- Reserves -€89,817
down €89,817 (-54.4%), from €165,041 to €75,224
of which Distributable reserves: -€89,817
- Other debts -€6,147
down €6,147 (-8.0%), from €76,419 to €70,272
- Gross operating margin -€59,471
down €59,471 (-198.3%), from -€29,990 to -€89,461
- Taxes +€3,202
up €3,202, from -€2,946 to €256
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 | €264,682 | €168,727 | -€95,954 | -36.3% |
| Fixed assets | 21/28 | €173 | - | -€173 | |
| Tangible fixed assets | 22/27 | €173 | - | -€173 | |
| Land and buildings | 22 | €173 | - | -€173 | |
| Current assets | 29/58 | €264,509 | €168,727 | -€95,782 | -36.2% |
| Amounts receivable within one year | 40/41 | €5,410 | €343 | -€5,067 | -93.7% |
| Other amounts receivable | 41 | €5,410 | €343 | -€5,067 | -93.7% |
| Cash at bank and in hand | 54/58 | €258,118 | €167,377 | -€90,741 | -35.2% |
| Deferred charges and accrued income | 490/1 | €981 | €1,007 | +€27 | +2.7% |
| Total equity and liabilities | 10/49 | €264,682 | €168,727 | -€95,954 | -36.3% |
| Equity | 10/15 | €185,041 | €95,224 | -€89,817 | -48.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €165,041 | €75,224 | -€89,817 | -54.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €163,181 | €73,364 | -€89,817 | -55.0% |
| Amounts payable | 17/49 | €79,641 | €73,503 | -€6,138 | -7.7% |
| Amounts payable within one year | 42/48 | €79,641 | €73,503 | -€6,138 | -7.7% |
| Financial debts | 43 | - | €60 | +€60 | |
| Credit institutions | 430/8 | - | €60 | +€60 | |
| Trade debts | 44 | €1,374 | €1,371 | -€3 | -0.2% |
| Suppliers | 440/4 | €1,374 | €1,371 | -€3 | -0.2% |
| Taxes, remuneration and social security | 45 | €1,848 | €1,800 | -€48 | -2.6% |
| Taxes | 450/3 | €1,848 | €1,800 | -€48 | -2.6% |
| Other amounts payable | 47/48 | €76,419 | €70,272 | -€6,147 | -8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €630 | €173 | -€457 | -72.6% |
| Other operating charges | 640/8 | €937 | €536 | -€401 | -42.8% |
| Gross operating margin | 9900 | -€29,990 | -€89,461 | -€59,471 | -198.3% |
| Operating profit (loss) | 9901 | -€31,557 | -€90,170 | -€58,613 | -185.7% |
| Financial income | 75/76B | €453 | €858 | +€405 | +89.4% |
| Recurring financial income | 75 | €453 | €858 | +€405 | +89.4% |
| Financial charges | 65/66B | €472 | €249 | -€223 | -47.3% |
| Recurring financial charges | 65 | €472 | €249 | -€223 | -47.3% |
| Profit (loss) for the period before taxes | 9903 | -€31,575 | -€89,561 | -€57,986 | -183.6% |
| Income taxes | 67/77 | -€2,946 | €256 | +€3,202 | |
| Profit (loss) for the period | 9904 | -€28,629 | -€89,817 | -€61,188 | -213.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,629 | -€89,817 | -€61,188 | -213.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 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.