Demeter: 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.
Demeter
Largest movements
- Receivables within one year +€18,982
up €18,982 (+8.2%), from €232,083 to €251,065
of which Other amounts receivable: +€17,054
- Tangible fixed assets -€5,775
down €5,775 (-27.1%), from €21,333 to €15,558
of which Furniture and vehicles: -€6,107
- Cash +€3,390
up €3,390 (+110.3%), from €3,075 to €6,465
mainly Net result for the year (+€28,630) and Tax, wage and social debts (+€10,599)
- Reserves +€28,630
up €28,630 (+25.8%), from €110,807 to €139,437
of which Distributable reserves: +€28,630
- Other debts -€21,985
down €21,985 (-92.6%), from €23,752 to €1,768
- Tax, wage and social debts +€10,599
up €10,599 (+367.9%), from €2,881 to €13,480
- Debts after one year -€7,761
down €7,761 (-62.7%), from €12,372 to €4,611
- Current portion of long-term debt +€3,280
up €3,280 (+39.7%), from €8,255 to €11,535
- Depreciation -€7,631
down €7,631 (-43.5%), from €17,555 to €9,925
- Taxes +€7,082
up €7,082 (+93.9%), from €7,540 to €14,622
- Gross operating margin -€2,327
down €2,327 (-4.0%), from €58,592 to €56,264
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 | €258,497 | €273,088 | +€14,591 | +5.6% |
| Fixed assets | 21/28 | €21,333 | €15,558 | -€5,775 | -27.1% |
| Tangible fixed assets | 22/27 | €21,333 | €15,558 | -€5,775 | -27.1% |
| Plant, machinery and equipment | 23 | €15,226 | €15,558 | +€332 | +2.2% |
| Furniture and vehicles | 24 | €6,107 | €0 | -€6,107 | -100.0% |
| Current assets | 29/58 | €237,164 | €257,530 | +€20,366 | +8.6% |
| Amounts receivable within one year | 40/41 | €232,083 | €251,065 | +€18,982 | +8.2% |
| Trade receivables | 40 | €430 | €2,358 | +€1,928 | +448.4% |
| Other amounts receivable | 41 | €231,653 | €248,707 | +€17,054 | +7.4% |
| Cash at bank and in hand | 54/58 | €3,075 | €6,465 | +€3,390 | +110.3% |
| Deferred charges and accrued income | 490/1 | €2,006 | €0 | -€2,006 | -100.0% |
| Total equity and liabilities | 10/49 | €258,497 | €273,088 | +€14,591 | +5.6% |
| Equity | 10/15 | €210,807 | €239,437 | +€28,630 | +13.6% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €110,807 | €139,437 | +€28,630 | +25.8% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €100,807 | €129,437 | +€28,630 | +28.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €47,690 | €33,651 | -€14,039 | -29.4% |
| Amounts payable after more than one year | 17 | €12,372 | €4,611 | -€7,761 | -62.7% |
| Financial debts | 170/4 | €12,372 | €4,611 | -€7,761 | -62.7% |
| Amounts payable within one year | 42/48 | €35,318 | €29,040 | -€6,278 | -17.8% |
| Current portion of amounts payable after more than one year | 42 | €8,255 | €11,535 | +€3,280 | +39.7% |
| Trade debts | 44 | €430 | €2,257 | +€1,827 | +425.5% |
| Suppliers | 440/4 | €430 | €2,257 | +€1,827 | +425.5% |
| Taxes, remuneration and social security | 45 | €2,881 | €13,480 | +€10,599 | +367.9% |
| Taxes | 450/3 | €2,881 | €13,480 | +€10,599 | +367.9% |
| Other amounts payable | 47/48 | €23,752 | €1,768 | -€21,985 | -92.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,555 | €9,925 | -€7,631 | -43.5% |
| Other operating charges | 640/8 | €2,264 | €1,881 | -€383 | -16.9% |
| Gross operating margin | 9900 | €58,592 | €56,264 | -€2,327 | -4.0% |
| Operating profit (loss) | 9901 | €38,773 | €44,459 | +€5,686 | +14.7% |
| Financial income | 75/76B | €56 | €5 | -€51 | -91.0% |
| Recurring financial income | 75 | €56 | €5 | -€51 | -91.0% |
| Financial charges | 65/66B | €1,408 | €1,212 | -€196 | -13.9% |
| Recurring financial charges | 65 | €1,408 | €1,212 | -€196 | -13.9% |
| Profit (loss) for the period before taxes | 9903 | €37,421 | €43,252 | +€5,831 | +15.6% |
| Income taxes | 67/77 | €7,540 | €14,622 | +€7,082 | +93.9% |
| Profit (loss) for the period | 9904 | €29,880 | €28,630 | -€1,250 | -4.2% |
| Profit (loss) for the period to be appropriated | 9905 | €29,880 | €28,630 | -€1,250 | -4.2% |
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 8 October 2026 via checked.be.