DEMETER: 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.
DEMETER
Largest movements
- Cash +€116,446
up €116,446 (+87.2%), from €133,471 to €249,917
mainly Net result for the year (+€57,597) and Depreciation (+€34,787)
- Receivables within one year -€29,977
down €29,977 (-38.3%), from €78,371 to €48,394
of which Trade receivables: -€26,662
- Stocks and contracts -€16,105
down €16,105 (-5.8%), from €277,355 to €261,250
- Profit (loss) carried forward +€57,597
up €57,597 (+19.4%), from -€296,271 to -€238,674
- Debts after one year -€20,043
down €20,043 (-21.0%), from €95,279 to €75,236
- Trade debts +€14,566
up €14,566 (+72.2%), from €20,166 to €34,732
- Gross operating margin +€23,370
up €23,370 (+12.4%), from €188,742 to €212,113
- Staff costs +€7,805
up €7,805 (+7.8%), from €100,534 to €108,339
- Depreciation +€6,902
up €6,902 (+24.8%), from €27,885 to €34,787
- Financial charges +€3,390
up €3,390 (+65.9%), from €5,146 to €8,536
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
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 | €726,785 | €793,575 | +€66,789 | +9.2% |
| Fixed assets | 21/28 | €233,735 | €226,397 | -€7,338 | -3.1% |
| Tangible fixed assets | 22/27 | €221,353 | €216,245 | -€5,108 | -2.3% |
| Land and buildings | 22 | €134,370 | €124,641 | -€9,729 | -7.2% |
| Plant, machinery and equipment | 23 | €86,983 | €66,133 | -€20,851 | -24.0% |
| Furniture and vehicles | 24 | - | €25,472 | +€25,472 | |
| Financial fixed assets | 28 | €12,382 | €10,151 | -€2,231 | -18.0% |
| Current assets | 29/58 | €493,050 | €567,178 | +€74,128 | +15.0% |
| Stocks and contracts in progress | 3 | €277,355 | €261,250 | -€16,105 | -5.8% |
| Stocks | 30/36 | €277,355 | €261,250 | -€16,105 | -5.8% |
| Amounts receivable within one year | 40/41 | €78,371 | €48,394 | -€29,977 | -38.3% |
| Trade receivables | 40 | €50,836 | €24,174 | -€26,662 | -52.4% |
| Other amounts receivable | 41 | €27,535 | €24,220 | -€3,315 | -12.0% |
| Cash at bank and in hand | 54/58 | €133,471 | €249,917 | +€116,446 | +87.2% |
| Deferred charges and accrued income | 490/1 | €3,854 | €7,617 | +€3,763 | +97.6% |
| Total equity and liabilities | 10/49 | €726,785 | €793,575 | +€66,789 | +9.2% |
| Equity | 10/15 | €367,981 | €425,578 | +€57,597 | +15.7% |
| Contributions | 10/11 | €642,100 | €642,100 | = | 0.0% |
| Reserves | 13 | €22,152 | €22,152 | = | 0.0% |
| Tax-exempt reserves | 132 | €10,376 | €10,376 | = | 0.0% |
| Distributable reserves | 133 | €11,775 | €11,775 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€296,271 | -€238,674 | +€57,597 | +19.4% |
| Amounts payable | 17/49 | €358,805 | €367,997 | +€9,192 | +2.6% |
| Amounts payable after more than one year | 17 | €95,279 | €75,236 | -€20,043 | -21.0% |
| Financial debts | 170/4 | €95,279 | €75,236 | -€20,043 | -21.0% |
| Amounts payable within one year | 42/48 | €263,359 | €292,760 | +€29,402 | +11.2% |
| Current portion of amounts payable after more than one year | 42 | €20,043 | €20,043 | = | 0.0% |
| Financial debts | 43 | €50,000 | €50,000 | = | 0.0% |
| Credit institutions | 430/8 | €50,000 | €50,000 | = | 0.0% |
| Trade debts | 44 | €20,166 | €34,732 | +€14,566 | +72.2% |
| Suppliers | 440/4 | €20,166 | €34,732 | +€14,566 | +72.2% |
| Taxes, remuneration and social security | 45 | €6,614 | €14,361 | +€7,748 | +117% |
| Taxes | 450/3 | €2,223 | €12,170 | +€9,948 | +448% |
| Remuneration and social security | 454/9 | €4,391 | €2,191 | -€2,200 | -50.1% |
| Other amounts payable | 47/48 | €166,536 | €173,624 | +€7,088 | +4.3% |
| Accrued charges and deferred income | 492/3 | €167 | €0 | -€167 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €100,534 | €108,339 | +€7,805 | +7.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,885 | €34,787 | +€6,902 | +24.8% |
| Other operating charges | 640/8 | €3,000 | €3,326 | +€326 | +10.9% |
| Gross operating margin | 9900 | €188,742 | €212,113 | +€23,370 | +12.4% |
| Operating profit (loss) | 9901 | €57,323 | €65,661 | +€8,337 | +14.5% |
| Financial income | 75/76B | €630 | €600 | -€30 | -4.7% |
| Recurring financial income | 75 | €630 | €600 | -€30 | -4.7% |
| Financial charges | 65/66B | €5,146 | €8,536 | +€3,390 | +65.9% |
| Recurring financial charges | 65 | €5,146 | €8,536 | +€3,390 | +65.9% |
| Profit (loss) for the period before taxes | 9903 | €52,807 | €57,725 | +€4,918 | +9.3% |
| Income taxes | 67/77 | €28 | €127 | +€99 | +347% |
| Profit (loss) for the period | 9904 | €52,778 | €57,597 | +€4,819 | +9.1% |
| Profit (loss) for the period to be appropriated | 9905 | €52,778 | €57,597 | +€4,819 | +9.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.