DEMDES: 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.
What changed
DEMDES
NACE 69.201, Certified accountants and tax accountants
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€133,469
2024 · €92,815+€40,655
Equity
€463,037
2024 · €342,710+€120,327
Cash
€111,326
2024 · €73,326+€38,000
Balance sheet total
€1.3m
2024 · €1.4m-€117,227
Largest movements
Assets
- Receivables after one year -€140,000
down €140,000 (-66.7%), from €210,000 to €70,000
- Cash +€38,000
up €38,000 (+51.8%), from €73,326 to €111,326
mainly Receivables after one year (+€140,000) and Net result for the year (+€133,469)
Equity and liabilities
- Other debts -€166,546
down €166,546 (-91.6%), from €181,752 to €15,206
- Reserves +€120,327
up €120,327 (+37.1%), from €324,110 to €444,437
- Provisions -€70,000
down €70,000 (-27.2%), from €257,081 to €187,081
Income statement
- Staff costs -€56,198
down €56,198 (-26.0%), from €215,972 to €159,774
- Gross operating margin -€20,018
down €20,018 (-4.3%), from €467,012 to €446,994
- Other operating charges -€19,736
down €19,736 (-65.6%), from €30,066 to €10,330
- Taxes +€10,257
up €10,257 (+22.5%), from €45,671 to €55,927
- Financial income -€5,154
down €5,154 (-34.5%), from €14,949 to €9,795
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.
Result 2024
€92,815
Gross operating margin
-€20,018
Staff costs
+€56,198
Depreciation
-€2,310
Other operating charges
+€19,736
Financial income
-€5,154
Financial charges
+€2,459
Taxes
-€10,257
Result 2025
€133,469
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.
From operations
+€144,444
Investment
-€76,098
Financing
-€30,347
Cash 2024
€73,326
From operations (derived)
+€144,444
Net result for the year
+€133,469
Depreciation
+€81,019
Receivables after one year
+€140,000
Receivables within one year
+€13,830
Deferred charges and accrued income
-€3,525
Provisions
-€70,000
Trade debts
+€3,658
Tax, wage and social debts
+€13,131
Advances received
-€1,041
Other debts
-€166,546
Accrued charges and deferred income
+€449
Investment (derived)
-€76,098
Investment in fixed assets (net)
-€76,098
Financing
-€30,347
Debts after one year
-€13,797
Current portion of long-term debt
-€2,596
Short-term financial debts
-€811
Contributions, distributions and other
-€13,142
Cash 2025
€111,326
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,445,204 | €1,327,977 | -€117,227 | -8.1% |
| Fixed assets | 21/28 | €878,457 | €873,536 | -€4,922 | -0.6% |
| Intangible fixed assets | 21 | €306 | €90 | -€216 | -70.6% |
| Tangible fixed assets | 22/27 | €878,114 | €873,409 | -€4,705 | -0.5% |
| Land and buildings | 22 | €823,383 | €765,492 | -€57,891 | -7.0% |
| Plant, machinery and equipment | 23 | €12,604 | €16,775 | +€4,171 | +33.1% |
| Furniture and vehicles | 24 | €42,127 | €91,142 | +€49,016 | +116.4% |
| Financial fixed assets | 28 | €37 | €37 | = | 0.0% |
| Current assets | 29/58 | €566,747 | €454,441 | -€112,305 | -19.8% |
| Amounts receivable after more than one year | 29 | €210,000 | €70,000 | -€140,000 | -66.7% |
| Other amounts receivable | 291 | €210,000 | €70,000 | -€140,000 | -66.7% |
| Amounts receivable within one year | 40/41 | €177,680 | €163,850 | -€13,830 | -7.8% |
| Trade receivables | 40 | €81,065 | €67,486 | -€13,579 | -16.8% |
| Other amounts receivable | 41 | €96,615 | €96,364 | -€251 | -0.3% |
| Cash at bank and in hand | 54/58 | €73,326 | €111,326 | +€38,000 | +51.8% |
| Deferred charges and accrued income | 490/1 | €105,740 | €109,265 | +€3,525 | +3.3% |
| Total equity and liabilities | 10/49 | €1,445,204 | €1,327,977 | -€117,227 | -8.1% |
| Equity | 10/15 | €342,710 | €463,037 | +€120,327 | +35.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €324,110 | €444,437 | +€120,327 | +37.1% |
| Distributable reserves | 133 | €324,110 | €444,437 | +€120,327 | +37.1% |
| Provisions and deferred taxes | 16 | €257,081 | €187,081 | -€70,000 | -27.2% |
| Provisions for liabilities and charges | 160/5 | €257,081 | €187,081 | -€70,000 | -27.2% |
| Pensions and similar obligations | 160 | €257,081 | €187,081 | -€70,000 | -27.2% |
| Amounts payable | 17/49 | €845,413 | €677,859 | -€167,553 | -19.8% |
| Amounts payable after more than one year | 17 | €497,234 | €483,437 | -€13,797 | -2.8% |
| Financial debts | 170/4 | €497,234 | €483,437 | -€13,797 | -2.8% |
| Amounts payable within one year | 42/48 | €347,846 | €193,641 | -€154,205 | -44.3% |
| Current portion of amounts payable after more than one year | 42 | €72,680 | €70,084 | -€2,596 | -3.6% |
| Financial debts | 43 | €8,880 | €8,069 | -€811 | -9.1% |
| Other loans | 439 | €8,880 | €8,069 | -€811 | -9.1% |
| Trade debts | 44 | €3,684 | €7,342 | +€3,658 | +99.3% |
| Suppliers | 440/4 | €3,684 | €7,342 | +€3,658 | +99.3% |
| Advances received on contracts in progress | 46 | €1,041 | - | -€1,041 | |
| Taxes, remuneration and social security | 45 | €79,808 | €92,940 | +€13,131 | +16.5% |
| Taxes | 450/3 | €47,164 | €75,450 | +€28,286 | +60.0% |
| Remuneration and social security | 454/9 | €32,645 | €17,490 | -€15,154 | -46.4% |
| Other amounts payable | 47/48 | €181,752 | €15,206 | -€166,546 | -91.6% |
| Accrued charges and deferred income | 492/3 | €333 | €781 | +€449 | +134.7% |
| Non-recurring operating income | 76A | - | €1,108 | +€1,108 | |
| Remuneration, social security and pensions | 62 | €215,972 | €159,774 | -€56,198 | -26.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,710 | €81,019 | +€2,310 | +2.9% |
| Other operating charges | 640/8 | €30,066 | €10,330 | -€19,736 | -65.6% |
| Gross operating margin | 9900 | €467,012 | €446,994 | -€20,018 | -4.3% |
| Operating profit (loss) | 9901 | €142,265 | €195,871 | +€53,606 | +37.7% |
| Financial income | 75/76B | €14,949 | €9,795 | -€5,154 | -34.5% |
| Recurring financial income | 75 | €14,949 | €9,795 | -€5,154 | -34.5% |
| Financial charges | 65/66B | €18,729 | €16,270 | -€2,459 | -13.1% |
| Recurring financial charges | 65 | €18,729 | €16,270 | -€2,459 | -13.1% |
| Profit (loss) for the period before taxes | 9903 | €138,485 | €189,397 | +€50,911 | +36.8% |
| Income taxes | 67/77 | €45,671 | €55,927 | +€10,257 | +22.5% |
| Profit (loss) for the period | 9904 | €92,815 | €133,469 | +€40,655 | +43.8% |
| Profit (loss) for the period to be appropriated | 9905 | €92,815 | €133,469 | +€40,655 | +43.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.