DEMESMAEKER-DUFOUR: what changed
What changed
DEMESMAEKER-DUFOUR
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
filed annual accounts (NBB)
Net result for the year
€20,225
2024 · €14,423+€5,801
Equity
€359,055
2024 · €338,831+€20,225
Cash
€85,326
2024 · €35,528+€49,798
Balance sheet total
€1.1m
2024 · €1.2m-€14,008
Largest movements
Assets
- Cash +€49,798
up €49,798 (+140%), from €35,528 to €85,326
mainly Depreciation (+€75,032) and Net result for the year (+€20,225)
- Tangible fixed assets -€48,403
down €48,403 (-4.5%), from €1.1m to €1.0m
of which Land and buildings: -€49,236
- Receivables within one year -€18,201
down €18,201 (-33.0%), from €55,182 to €36,981
of which Other amounts receivable: -€31,628
Equity and liabilities
- Debts after one year -€35,885
down €35,885 (-4.7%), from €756,007 to €720,122
- Reserves +€20,225
up €20,225 (+22.8%), from €88,831 to €109,055
of which Distributable reserves: +€20,225
Income statement
- Gross operating margin +€12,193
up €12,193 (+9.7%), from €125,450 to €137,643
- Taxes +€5,765
up €5,765 (+1,008%), from €572 to €6,337
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€14,423
Gross operating margin
+€12,193
Depreciation
-€434
Other operating charges
-€565
Financial income
+€19
Financial charges
+€354
Taxes
-€5,765
Result 2025
€20,225
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€111,740
Investment
-€26,500
Financing
-€35,442
Cash 2024
€35,528
From operations (derived)
+€111,740
Net result for the year
+€20,225
Depreciation
+€75,032
Stocks and contracts
-€1,866
Receivables within one year
+€18,201
Deferred charges and accrued income
-€1,060
Trade debts
-€4,956
Tax, wage and social debts
-€290
Other debts
+€3,362
Accrued charges and deferred income
+€3,093
Investment (derived)
-€26,500
Investment in fixed assets (net)
-€26,500
Financing
-€35,442
Debts after one year
-€35,885
Current portion of long-term debt
+€444
Cash 2025
€85,326
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,163,177 | €1,149,169 | -€14,008 | -1.2% |
| Formation expenses | 20 | €128 | - | -€128 | |
| Fixed assets | 21/28 | €1,066,738 | €1,018,335 | -€48,403 | -4.5% |
| Tangible fixed assets | 22/27 | €1,066,738 | €1,018,335 | -€48,403 | -4.5% |
| Land and buildings | 22 | €750,345 | €701,109 | -€49,236 | -6.6% |
| Plant, machinery and equipment | 23 | €598 | €3,277 | +€2,679 | +448% |
| Furniture and vehicles | 24 | €6,050 | €2,463 | -€3,588 | -59.3% |
| Leasing and similar rights | 25 | €8,262 | €5,267 | -€2,995 | -36.2% |
| Other tangible fixed assets | 26 | €301,482 | €306,218 | +€4,736 | +1.6% |
| Current assets | 29/58 | €96,311 | €130,834 | +€34,523 | +35.8% |
| Stocks and contracts in progress | 3 | €3,368 | €5,234 | +€1,866 | +55.4% |
| Stocks | 30/36 | €3,368 | €5,234 | +€1,866 | +55.4% |
| Amounts receivable within one year | 40/41 | €55,182 | €36,981 | -€18,201 | -33.0% |
| Trade receivables | 40 | €16,591 | €30,018 | +€13,427 | +80.9% |
| Other amounts receivable | 41 | €38,591 | €6,964 | -€31,628 | -82.0% |
| Cash at bank and in hand | 54/58 | €35,528 | €85,326 | +€49,798 | +140% |
| Deferred charges and accrued income | 490/1 | €2,233 | €3,293 | +€1,060 | +47.5% |
| Total equity and liabilities | 10/49 | €1,163,177 | €1,149,169 | -€14,008 | -1.2% |
| Equity | 10/15 | €338,831 | €359,055 | +€20,225 | +6.0% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €88,831 | €109,055 | +€20,225 | +22.8% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Distributable reserves | 133 | €63,831 | €84,055 | +€20,225 | +31.7% |
| Amounts payable | 17/49 | €824,347 | €790,114 | -€34,233 | -4.2% |
| Amounts payable after more than one year | 17 | €756,007 | €720,122 | -€35,885 | -4.7% |
| Financial debts | 170/4 | €756,007 | €720,122 | -€35,885 | -4.7% |
| Amounts payable within one year | 42/48 | €52,970 | €51,530 | -€1,441 | -2.7% |
| Current portion of amounts payable after more than one year | 42 | €35,442 | €35,885 | +€444 | +1.3% |
| Trade debts | 44 | €15,159 | €10,203 | -€4,956 | -32.7% |
| Suppliers | 440/4 | €15,159 | €10,203 | -€4,956 | -32.7% |
| Taxes, remuneration and social security | 45 | €2,369 | €2,079 | -€290 | -12.2% |
| Taxes | 450/3 | €2,369 | €2,079 | -€290 | -12.2% |
| Other amounts payable | 47/48 | - | €3,362 | +€3,362 | |
| Accrued charges and deferred income | 492/3 | €15,369 | €18,462 | +€3,093 | +20.1% |
| Non-recurring operating income | 76A | €18 | - | -€18 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,597 | €75,032 | +€434 | +0.6% |
| Other operating charges | 640/8 | €21,103 | €21,668 | +€565 | +2.7% |
| Gross operating margin | 9900 | €125,450 | €137,643 | +€12,193 | +9.7% |
| Operating profit (loss) | 9901 | €29,750 | €40,944 | +€11,194 | +37.6% |
| Financial income | 75/76B | €140 | €159 | +€19 | +13.6% |
| Recurring financial income | 75 | €140 | €159 | +€19 | +13.6% |
| Financial charges | 65/66B | €14,895 | €14,541 | -€354 | -2.4% |
| Recurring financial charges | 65 | €14,895 | €14,541 | -€354 | -2.4% |
| Profit (loss) for the period before taxes | 9903 | €14,995 | €26,562 | +€11,567 | +77.1% |
| Income taxes | 67/77 | €572 | €6,337 | +€5,765 | +1,008% |
| Profit (loss) for the period | 9904 | €14,423 | €20,225 | +€5,801 | +40.2% |
| Profit (loss) for the period to be appropriated | 9905 | €14,423 | €20,225 | +€5,801 | +40.2% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.