DEMERES: 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.
DEMERES
Largest movements
- Tangible fixed assets +€64,562
up €64,562 (+219.4%), from €29,433 to €93,995
of which Furniture and vehicles: +€65,134
- Financial fixed assets -€60,000
down €60,000 (-100.0%), from €60,000 to €0
- Cash +€53,135
up €53,135 (+134.7%), from €39,443 to €92,578
mainly Other debts (+€290,003) and Net result for the year (+€133,960)
- Receivables within one year +€9,849
up €9,849 (+41.5%), from €23,740 to €33,589
of which Other amounts receivable: +€6,801
- Other debts +€290,003
new in 2025: €290,003
- Profit (loss) carried forward -€271,838
down €271,838 (-96.2%), from €282,464 to €10,626
- Debts after one year +€37,566
new in 2025: €37,566
- Current portion of long-term debt +€7,362
up €7,362 (+193.1%), from €3,812 to €11,174
- Trade debts +€5,295
up €5,295 (+131.6%), from €4,023 to €9,318
- Taxes +€31,042
up €31,042 (+252.8%), from €12,277 to €43,319
- Gross operating margin +€23,759
up €23,759 (+13.1%), from €180,685 to €204,444
- Depreciation +€12,660
up €12,660 (+82.3%), from €15,375 to €28,035
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 | €383,256 | €450,767 | +€67,511 | +17.6% |
| Fixed assets | 21/28 | €89,433 | €93,995 | +€4,562 | +5.1% |
| Tangible fixed assets | 22/27 | €29,433 | €93,995 | +€64,562 | +219.4% |
| Land and buildings | 22 | €5,891 | €4,465 | -€1,426 | -24.2% |
| Furniture and vehicles | 24 | €7,674 | €72,808 | +€65,134 | +848.8% |
| Other tangible fixed assets | 26 | €15,868 | €16,723 | +€854 | +5.4% |
| Financial fixed assets | 28 | €60,000 | €0 | -€60,000 | -100.0% |
| Current assets | 29/58 | €293,824 | €356,772 | +€62,948 | +21.4% |
| Amounts receivable within one year | 40/41 | €23,740 | €33,589 | +€9,849 | +41.5% |
| Trade receivables | 40 | €23,740 | €26,787 | +€3,047 | +12.8% |
| Other amounts receivable | 41 | - | €6,801 | +€6,801 | |
| Current investments | 50/53 | €230,000 | €230,000 | -€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €39,443 | €92,578 | +€53,135 | +134.7% |
| Deferred charges and accrued income | 490/1 | €641 | €606 | -€35 | -5.5% |
| Total equity and liabilities | 10/49 | €383,256 | €450,767 | +€67,511 | +17.6% |
| Equity | 10/15 | €362,464 | €90,626 | -€271,838 | -75.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €79,000 | €79,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | - | €0 | = | |
| Reserves not available under the articles | 1311 | - | €0 | = | |
| Distributable reserves | 133 | €79,000 | €79,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €282,464 | €10,626 | -€271,838 | -96.2% |
| Amounts payable | 17/49 | €20,792 | €360,141 | +€339,349 | +1632.1% |
| Amounts payable after more than one year | 17 | - | €37,566 | +€37,566 | |
| Financial debts | 170/4 | - | €37,566 | +€37,566 | |
| Amounts payable within one year | 42/48 | €20,792 | €322,575 | +€301,783 | +1451.5% |
| Current portion of amounts payable after more than one year | 42 | €3,812 | €11,174 | +€7,362 | +193.1% |
| Trade debts | 44 | €4,023 | €9,318 | +€5,295 | +131.6% |
| Suppliers | 440/4 | €4,023 | €9,318 | +€5,295 | +131.6% |
| Taxes, remuneration and social security | 45 | €12,956 | €12,080 | -€877 | -6.8% |
| Taxes | 450/3 | €12,956 | €12,080 | -€877 | -6.8% |
| Other amounts payable | 47/48 | - | €290,003 | +€290,003 | |
| Remuneration, social security and pensions | 62 | €231 | €0 | -€231 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,375 | €28,035 | +€12,660 | +82.3% |
| Other operating charges | 640/8 | €1,667 | €1,053 | -€614 | -36.8% |
| Non-recurring operating charges | 66A | - | €53 | +€53 | |
| Gross operating margin | 9900 | €180,685 | €204,444 | +€23,759 | +13.1% |
| Operating profit (loss) | 9901 | €163,412 | €175,303 | +€11,891 | +7.3% |
| Financial income | 75/76B | €2,196 | €3,506 | +€1,310 | +59.7% |
| Recurring financial income | 75 | €2,196 | €3,506 | +€1,310 | +59.7% |
| Financial charges | 65/66B | €665 | €1,530 | +€865 | +130.1% |
| Recurring financial charges | 65 | €665 | €1,530 | +€865 | +130.1% |
| Profit (loss) for the period before taxes | 9903 | €164,943 | €177,279 | +€12,336 | +7.5% |
| Income taxes | 67/77 | €12,277 | €43,319 | +€31,042 | +252.8% |
| Profit (loss) for the period | 9904 | €152,666 | €133,960 | -€18,706 | -12.3% |
| Profit (loss) for the period to be appropriated | 9905 | €152,666 | €133,960 | -€18,706 | -12.3% |
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 3 October 2026 via checked.be.