DEMEESTER M.: 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.
DEMEESTER M.
Largest movements
- Tangible fixed assets -€26,760
down €26,760 (-3.7%), from €725,591 to €698,831
of which Land and buildings: -€20,828
- Receivables within one year -€21,034
down €21,034 (-15.7%), from €133,854 to €112,820
of which Trade receivables: -€20,023
- Current portion of long-term debt -€78,918
down €78,918 (-60.7%), from €130,063 to €51,144
- Reserves +€21,164
up €21,164 (+5.5%), from €386,249 to €407,413
of which Distributable reserves: +€21,164
- Other debts +€18,260
up €18,260 (+10.3%), from €177,271 to €195,531
- Trade debts -€13,431
down €13,431 (-43.0%), from €31,242 to €17,811
- Staff costs -€23,337
down €23,337 (-8.7%), from €268,107 to €244,770
- Financial income -€21,936
down €21,936 (-56.6%), from €38,765 to €16,829
of which Non-recurring financial income: -€22,034
- Financial charges +€9,484
up €9,484 (+88.0%), from €10,780 to €20,265
- Gross operating margin -€8,556
down €8,556 (-2.3%), from €377,915 to €369,359
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €859,916 | €812,123 | -€47,794 | -5.6% |
| Fixed assets | 21/28 | €725,591 | €698,831 | -€26,760 | -3.7% |
| Tangible fixed assets | 22/27 | €725,591 | €698,831 | -€26,760 | -3.7% |
| Land and buildings | 22 | €600,143 | €579,315 | -€20,828 | -3.5% |
| Plant, machinery and equipment | 23 | €5,266 | €7,554 | +€2,288 | +43.5% |
| Furniture and vehicles | 24 | €3,459 | €3,415 | -€45 | -1.3% |
| Leasing and similar rights | 25 | €116,723 | €108,547 | -€8,175 | -7.0% |
| Current assets | 29/58 | €134,325 | €113,292 | -€21,034 | -15.7% |
| Amounts receivable within one year | 40/41 | €133,854 | €112,820 | -€21,034 | -15.7% |
| Trade receivables | 40 | €121,520 | €101,497 | -€20,023 | -16.5% |
| Other amounts receivable | 41 | €12,334 | €11,323 | -€1,011 | -8.2% |
| Deferred charges and accrued income | 490/1 | €471 | €471 | = | 0.0% |
| Total equity and liabilities | 10/49 | €859,916 | €812,123 | -€47,794 | -5.6% |
| Equity | 10/15 | €404,849 | €426,013 | +€21,164 | +5.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €386,249 | €407,413 | +€21,164 | +5.5% |
| Tax-exempt reserves | 132 | €52,943 | €52,943 | = | 0.0% |
| Distributable reserves | 133 | €333,306 | €354,470 | +€21,164 | +6.3% |
| Amounts payable | 17/49 | €455,067 | €386,110 | -€68,958 | -15.2% |
| Amounts payable after more than one year | 17 | €55,101 | €53,245 | -€1,856 | -3.4% |
| Financial debts | 170/4 | €55,101 | €22,031 | -€33,070 | -60.0% |
| Trade debts | 175 | - | €2,571 | +€2,571 | |
| Advances received on contracts in progress | 176 | - | €28,644 | +€28,644 | |
| Amounts payable within one year | 42/48 | €399,966 | €331,276 | -€68,691 | -17.2% |
| Current portion of amounts payable after more than one year | 42 | €130,063 | €51,144 | -€78,918 | -60.7% |
| Financial debts | 43 | €5,820 | €5,652 | -€168 | -2.9% |
| Credit institutions | 430/8 | €5,820 | €5,652 | -€168 | -2.9% |
| Trade debts | 44 | €31,242 | €17,811 | -€13,431 | -43.0% |
| Suppliers | 440/4 | €31,242 | €17,811 | -€13,431 | -43.0% |
| Taxes, remuneration and social security | 45 | €55,570 | €61,137 | +€5,566 | +10.0% |
| Taxes | 450/3 | €14,405 | €21,165 | +€6,760 | +46.9% |
| Remuneration and social security | 454/9 | €41,166 | €39,972 | -€1,194 | -2.9% |
| Other amounts payable | 47/48 | €177,271 | €195,531 | +€18,260 | +10.3% |
| Accrued charges and deferred income | 492/3 | - | €1,589 | +€1,589 | |
| Remuneration, social security and pensions | 62 | €268,107 | €244,770 | -€23,337 | -8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,148 | €89,536 | +€388 | +0.4% |
| Other operating charges | 640/8 | €6,351 | €8,019 | +€1,668 | +26.3% |
| Gross operating margin | 9900 | €377,915 | €369,359 | -€8,556 | -2.3% |
| Operating profit (loss) | 9901 | €14,309 | €27,033 | +€12,724 | +88.9% |
| Financial income | 75/76B | €38,765 | €16,829 | -€21,936 | -56.6% |
| Recurring financial income | 75 | €0 | €98 | +€98 | +244,825% |
| Non-recurring financial income | 76B | €38,765 | €16,731 | -€22,034 | -56.8% |
| Financial charges | 65/66B | €10,780 | €20,265 | +€9,484 | +88.0% |
| Recurring financial charges | 65 | €10,780 | €20,265 | +€9,484 | +88.0% |
| Profit (loss) for the period before taxes | 9903 | €42,293 | €23,597 | -€18,696 | -44.2% |
| Income taxes | 67/77 | €4,716 | €2,433 | -€2,283 | -48.4% |
| Profit (loss) for the period | 9904 | €37,577 | €21,164 | -€16,413 | -43.7% |
| Profit (loss) for the period to be appropriated | 9905 | €37,577 | €21,164 | -€16,413 | -43.7% |
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 27 October 2026 via checked.be.