DEMEULEMEESTER: 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.
DEMEULEMEESTER
Largest movements
- Cash -€123,821
down €123,821 (-55.5%), from €223,098 to €99,277
mainly Provisions (-€71,507) and Receivables within one year (-€38,933)
- Receivables within one year +€38,933
up €38,933 (+162.7%), from €23,930 to €62,863
of which Trade receivables: +€52,011
- Tangible fixed assets -€18,195
down €18,195 (-8.2%), from €222,613 to €204,418
of which Land and buildings: -€10,632
- Provisions -€71,507
down €71,507 (-100.0%), from €71,507 to €0
- Trade debts -€28,493
down €28,493 (-62.9%), from €45,263 to €16,771
- Debts after one year -€17,903
down €17,903 (-13.4%), from €133,255 to €115,351
- Reserves +€7,875
up €7,875 (+3.0%), from €263,189 to €271,064
of which Distributable reserves: +€7,875
- Staff costs +€10,188
up €10,188 (+26.5%), from €38,386 to €48,574
- Gross operating margin +€9,952
up €9,952 (+12.0%), from €82,762 to €92,713
- Depreciation -€4,953
down €4,953 (-18.9%), from €26,182 to €21,229
- Taxes +€3,078
up €3,078 (+394.9%), from €779 to €3,857
- Other operating charges +€1,086
up €1,086 (+16.8%), from €6,458 to €7,544
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €583,991 | €480,732 | -€103,259 | -17.7% |
| Fixed assets | 21/28 | €224,835 | €205,918 | -€18,917 | -8.4% |
| Intangible fixed assets | 21 | €2,132 | €1,410 | -€722 | -33.9% |
| Tangible fixed assets | 22/27 | €222,613 | €204,418 | -€18,195 | -8.2% |
| Land and buildings | 22 | €169,858 | €159,226 | -€10,632 | -6.3% |
| Plant, machinery and equipment | 23 | €17,043 | €16,648 | -€395 | -2.3% |
| Furniture and vehicles | 24 | €6,793 | €4,444 | -€2,348 | -34.6% |
| Leasing and similar rights | 25 | €28,920 | €24,100 | -€4,820 | -16.7% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €359,156 | €274,814 | -€84,342 | -23.5% |
| Amounts receivable within one year | 40/41 | €23,930 | €62,863 | +€38,933 | +162.7% |
| Trade receivables | 40 | €4,710 | €56,720 | +€52,011 | +1104.3% |
| Other amounts receivable | 41 | €19,221 | €6,143 | -€13,078 | -68.0% |
| Current investments | 50/53 | €100,176 | €100,176 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €223,098 | €99,277 | -€123,821 | -55.5% |
| Deferred charges and accrued income | 490/1 | €11,951 | €12,498 | +€547 | +4.6% |
| Total equity and liabilities | 10/49 | €583,991 | €480,732 | -€103,259 | -17.7% |
| Equity | 10/15 | €281,781 | €289,656 | +€7,875 | +2.8% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €263,189 | €271,064 | +€7,875 | +3.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €263,189 | €271,064 | +€7,875 | +3.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €71,507 | €0 | -€71,507 | -100.0% |
| Provisions for liabilities and charges | 160/5 | €71,507 | €0 | -€71,507 | -100.0% |
| Pensions and similar obligations | 160 | €71,507 | €0 | -€71,507 | -100.0% |
| Amounts payable | 17/49 | €230,702 | €191,076 | -€39,626 | -17.2% |
| Amounts payable after more than one year | 17 | €133,255 | €115,351 | -€17,903 | -13.4% |
| Financial debts | 170/4 | €133,255 | €115,351 | -€17,903 | -13.4% |
| Amounts payable within one year | 42/48 | €97,260 | €75,725 | -€21,536 | -22.1% |
| Current portion of amounts payable after more than one year | 42 | €17,792 | €17,903 | +€112 | +0.6% |
| Financial debts | 43 | €667 | €0 | -€667 | -100.0% |
| Credit institutions | 430/8 | €667 | €0 | -€667 | -100.0% |
| Trade debts | 44 | €45,263 | €16,771 | -€28,493 | -62.9% |
| Suppliers | 440/4 | €45,263 | €16,771 | -€28,493 | -62.9% |
| Taxes, remuneration and social security | 45 | €10,226 | €12,682 | +€2,456 | +24.0% |
| Taxes | 450/3 | €8,110 | €5,042 | -€3,069 | -37.8% |
| Remuneration and social security | 454/9 | €2,116 | €7,640 | +€5,525 | +261.1% |
| Other amounts payable | 47/48 | €23,313 | €28,369 | +€5,056 | +21.7% |
| Accrued charges and deferred income | 492/3 | €187 | €0 | -€187 | -100.0% |
| Remuneration, social security and pensions | 62 | €38,386 | €48,574 | +€10,188 | +26.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,182 | €21,229 | -€4,953 | -18.9% |
| Other operating charges | 640/8 | €6,458 | €7,544 | +€1,086 | +16.8% |
| Gross operating margin | 9900 | €82,762 | €92,713 | +€9,952 | +12.0% |
| Operating profit (loss) | 9901 | €11,736 | €15,366 | +€3,630 | +30.9% |
| Financial income | 75/76B | €1,120 | €386 | -€733 | -65.5% |
| Recurring financial income | 75 | €1,120 | €386 | -€733 | -65.5% |
| Financial charges | 65/66B | €4,281 | €4,021 | -€261 | -6.1% |
| Recurring financial charges | 65 | €4,281 | €4,021 | -€261 | -6.1% |
| Profit (loss) for the period before taxes | 9903 | €8,574 | €11,732 | +€3,158 | +36.8% |
| Income taxes | 67/77 | €779 | €3,857 | +€3,078 | +394.9% |
| Profit (loss) for the period | 9904 | €7,795 | €7,875 | +€80 | +1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €7,795 | €7,875 | +€80 | +1.0% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.