Demdev: 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.
Demdev
Largest movements
- Receivables within one year +€83,658
up €83,658 (+189.0%), from €44,269 to €127,927
of which Trade receivables: +€60,697
- Tangible fixed assets -€28,290
down €28,290 (-23.1%), from €122,582 to €94,292
- Cash +€20,581
up €20,581 (+57.9%), from €35,574 to €56,155
mainly Trade debts (+€53,075) and Depreciation (+€36,488)
- Stocks and contracts -€11,215
down €11,215 (-33.3%), from €33,721 to €22,506
- Trade debts +€53,075
up €53,075 (+149.1%), from €35,585 to €88,660
- Reserves +€33,504
up €33,504 (+24.0%), from €139,735 to €173,239
- Debts after one year -€17,351
down €17,351 (-47.5%), from €36,515 to €19,163
- Short-term financial debts -€13,458
down €13,458 (-100.0%), from €13,458 to €0
- Tax, wage and social debts +€9,821
up €9,821 (+33.9%), from €28,987 to €38,808
of which Taxes: +€12,483
- Gross operating margin +€42,974
up €42,974 (+15.6%), from €275,665 to €318,639
- Taxes +€9,730
up €9,730 (+105.8%), from €9,193 to €18,923
- Staff costs +€9,727
up €9,727 (+4.6%), from €211,427 to €221,154
- Other operating charges +€3,401
up €3,401 (+186.2%), from €1,826 to €5,227
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 | €280,243 | €341,914 | +€61,671 | +22.0% |
| Fixed assets | 21/28 | €122,582 | €94,292 | -€28,290 | -23.1% |
| Tangible fixed assets | 22/27 | €122,582 | €94,292 | -€28,290 | -23.1% |
| Plant, machinery and equipment | 23 | €43,479 | €30,570 | -€12,909 | -29.7% |
| Furniture and vehicles | 24 | €32,532 | €21,117 | -€11,414 | -35.1% |
| Other tangible fixed assets | 26 | €46,572 | €42,605 | -€3,966 | -8.5% |
| Current assets | 29/58 | €157,661 | €247,622 | +€89,961 | +57.1% |
| Amounts receivable after more than one year | 29 | €40,000 | €40,000 | = | 0.0% |
| Other amounts receivable | 291 | €40,000 | €40,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €33,721 | €22,506 | -€11,215 | -33.3% |
| Stocks | 30/36 | €33,721 | €22,506 | -€11,215 | -33.3% |
| Amounts receivable within one year | 40/41 | €44,269 | €127,927 | +€83,658 | +189.0% |
| Trade receivables | 40 | €662 | €61,359 | +€60,697 | +9163.0% |
| Other amounts receivable | 41 | €43,606 | €66,568 | +€22,961 | +52.7% |
| Cash at bank and in hand | 54/58 | €35,574 | €56,155 | +€20,581 | +57.9% |
| Deferred charges and accrued income | 490/1 | €4,097 | €1,034 | -€3,063 | -74.8% |
| Total equity and liabilities | 10/49 | €280,243 | €341,914 | +€61,671 | +22.0% |
| Equity | 10/15 | €129,488 | €162,992 | +€33,504 | +25.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €139,735 | €173,239 | +€33,504 | +24.0% |
| Distributable reserves | 133 | €139,735 | €173,239 | +€33,504 | +24.0% |
| Profit (loss) carried forward | 14 | -€28,847 | -€28,847 | = | 0.0% |
| Amounts payable | 17/49 | €150,755 | €178,922 | +€28,168 | +18.7% |
| Amounts payable after more than one year | 17 | €36,515 | €19,163 | -€17,351 | -47.5% |
| Financial debts | 170/4 | €36,515 | €19,163 | -€17,351 | -47.5% |
| Amounts payable within one year | 42/48 | €113,673 | €156,587 | +€42,914 | +37.8% |
| Current portion of amounts payable after more than one year | 42 | €25,666 | €28,285 | +€2,618 | +10.2% |
| Financial debts | 43 | €13,458 | €0 | -€13,458 | -100.0% |
| Credit institutions | 430/8 | €13,458 | €0 | -€13,458 | -100.0% |
| Trade debts | 44 | €35,585 | €88,660 | +€53,075 | +149.1% |
| Suppliers | 440/4 | €35,585 | €88,660 | +€53,075 | +149.1% |
| Advances received on contracts in progress | 46 | €9,976 | €834 | -€9,142 | -91.6% |
| Taxes, remuneration and social security | 45 | €28,987 | €38,808 | +€9,821 | +33.9% |
| Taxes | 450/3 | €9,096 | €21,579 | +€12,483 | +137.2% |
| Remuneration and social security | 454/9 | €19,891 | €17,229 | -€2,662 | -13.4% |
| Accrued charges and deferred income | 492/3 | €567 | €3,172 | +€2,605 | +459.5% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €211,427 | €221,154 | +€9,727 | +4.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,884 | €36,488 | +€1,604 | +4.6% |
| Other operating charges | 640/8 | €1,826 | €5,227 | +€3,401 | +186.2% |
| Gross operating margin | 9900 | €275,665 | €318,639 | +€42,974 | +15.6% |
| Operating profit (loss) | 9901 | €27,528 | €55,770 | +€28,242 | +102.6% |
| Financial income | 75/76B | €2,577 | €2,730 | +€153 | +5.9% |
| Recurring financial income | 75 | €2,577 | €2,730 | +€153 | +5.9% |
| Financial charges | 65/66B | €5,184 | €6,073 | +€889 | +17.1% |
| Recurring financial charges | 65 | €5,184 | €6,073 | +€889 | +17.1% |
| Profit (loss) for the period before taxes | 9903 | €24,921 | €52,427 | +€27,506 | +110.4% |
| Income taxes | 67/77 | €9,193 | €18,923 | +€9,730 | +105.8% |
| Profit (loss) for the period | 9904 | €15,728 | €33,504 | +€17,776 | +113.0% |
| Profit (loss) for the period to be appropriated | 9905 | €15,728 | €33,504 | +€17,776 | +113.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.