DEMDELVAN: 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.
DEMDELVAN
Largest movements
- Cash -€35,502
down €35,502 (-44.3%), from €80,157 to €44,655
mainly Debts after one year (-€39,670) and Receivables within one year (-€21,940)
- Receivables within one year +€21,940
up €21,940 (+283%), from €7,759 to €29,699
of which Trade receivables: +€12,100
- Debts after one year -€39,670
down €39,670 (-10.7%), from €371,129 to €331,460
of which Financial debts: -€42,631
- Reserves +€33,494
up €33,494 (+9.5%), from €352,270 to €385,764
- Tax, wage and social debts -€11,958
down €11,958 (-53.7%), from €22,258 to €10,300
of which Taxes: -€11,972
- Gross operating margin -€66,220
down €66,220 (-53.3%), from €124,309 to €58,089
- Taxes -€16,808
down €16,808 (-59.8%), from €28,108 to €11,300
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.
Derived cash bridge
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 | €821,546 | €806,194 | -€15,351 | -1.9% |
| Fixed assets | 21/28 | €477,295 | €471,635 | -€5,660 | -1.2% |
| Tangible fixed assets | 22/27 | €10,855 | €5,195 | -€5,660 | -52.1% |
| Furniture and vehicles | 24 | €10,855 | €5,195 | -€5,660 | -52.1% |
| Financial fixed assets | 28 | €466,440 | €466,440 | = | 0.0% |
| Current assets | 29/58 | €344,251 | €334,560 | -€9,691 | -2.8% |
| Amounts receivable after more than one year | 29 | €255,290 | €259,120 | +€3,829 | +1.5% |
| Other amounts receivable | 291 | €255,290 | €259,120 | +€3,829 | +1.5% |
| Amounts receivable within one year | 40/41 | €7,759 | €29,699 | +€21,940 | +283% |
| Trade receivables | 40 | €0 | €12,100 | +€12,100 | |
| Other amounts receivable | 41 | €7,759 | €17,599 | +€9,840 | +127% |
| Cash at bank and in hand | 54/58 | €80,157 | €44,655 | -€35,502 | -44.3% |
| Deferred charges and accrued income | 490/1 | €1,044 | €1,085 | +€41 | +4.0% |
| Total equity and liabilities | 10/49 | €821,546 | €806,194 | -€15,351 | -1.9% |
| Equity | 10/15 | €382,270 | €415,764 | +€33,494 | +8.8% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €352,270 | €385,764 | +€33,494 | +9.5% |
| Distributable reserves | 133 | €352,270 | €385,764 | +€33,494 | +9.5% |
| Amounts payable | 17/49 | €439,276 | €390,431 | -€48,845 | -11.1% |
| Amounts payable after more than one year | 17 | €371,129 | €331,460 | -€39,670 | -10.7% |
| Financial debts | 170/4 | €303,453 | €260,822 | -€42,631 | -14.0% |
| Other amounts payable | 178/9 | €67,676 | €70,638 | +€2,961 | +4.4% |
| Amounts payable within one year | 42/48 | €65,185 | €55,129 | -€10,056 | -15.4% |
| Current portion of amounts payable after more than one year | 42 | €42,367 | €42,631 | +€264 | +0.6% |
| Trade debts | 44 | €154 | €159 | +€5 | +3.1% |
| Suppliers | 440/4 | €154 | €159 | +€5 | +3.1% |
| Taxes, remuneration and social security | 45 | €22,258 | €10,300 | -€11,958 | -53.7% |
| Taxes | 450/3 | €19,526 | €7,554 | -€11,972 | -61.3% |
| Remuneration and social security | 454/9 | €2,732 | €2,746 | +€14 | +0.5% |
| Other amounts payable | 47/48 | €405 | €2,038 | +€1,633 | +403% |
| Accrued charges and deferred income | 492/3 | €2,961 | €3,842 | +€881 | +29.7% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,660 | €5,660 | = | 0.0% |
| Other operating charges | 640/8 | €309 | €496 | +€187 | +60.4% |
| Gross operating margin | 9900 | €124,309 | €58,089 | -€66,220 | -53.3% |
| Operating profit (loss) | 9901 | €118,340 | €51,933 | -€66,407 | -56.1% |
| Financial income | 75/76B | €3,803 | €3,862 | +€58 | +1.5% |
| Recurring financial income | 75 | €3,803 | €3,862 | +€58 | +1.5% |
| Financial charges | 65/66B | €10,003 | €11,001 | +€998 | +10.0% |
| Recurring financial charges | 65 | €10,003 | €11,001 | +€998 | +10.0% |
| Profit (loss) for the period before taxes | 9903 | €112,140 | €44,794 | -€67,347 | -60.1% |
| Income taxes | 67/77 | €28,108 | €11,300 | -€16,808 | -59.8% |
| Profit (loss) for the period | 9904 | €84,033 | €33,494 | -€50,539 | -60.1% |
| Profit (loss) for the period to be appropriated | 9905 | €84,033 | €33,494 | -€50,539 | -60.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.