DEMEULENAERE: 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.
DEMEULENAERE
Largest movements
- Receivables after one year +€100,000
new in 2025: €100,000
- Cash -€93,915
down €93,915 (-53.5%), from €175,611 to €81,696
mainly Receivables after one year (-€100,000) and Current investments (-€75,000)
- Current investments +€75,000
up €75,000 (+41.7%), from €180,000 to €255,000
- Stocks and contracts +€12,131
up €12,131 (+9.4%), from €128,915 to €141,046
- Tangible fixed assets -€8,958
down €8,958 (-12.2%), from €73,386 to €64,428
of which Land and buildings: -€8,949
- Reserves +€82,946
up €82,946 (+58.2%), from €142,624 to €225,570
- Trade debts +€29,835
up €29,835 (+113%), from €26,507 to €56,342
- Debts after one year -€14,000
down €14,000 (-5.9%), from €238,000 to €224,000
- Current portion of long-term debt -€10,000
down €10,000 (-41.7%), from €24,000 to €14,000
- Gross operating margin -€31,802
down €31,802 (-18.2%), from €175,071 to €143,269
- Depreciation -€23,347
down €23,347 (-65.6%), from €35,574 to €12,227
- Taxes +€22,479
up €22,479 (+128%), from €17,506 to €39,985
- Other operating charges -€13,289
down €13,289 (-94.1%), from €14,123 to €834
- Financial charges -€3,409
down €3,409 (-17.7%), from €19,308 to €15,899
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 | €565,888 | €654,303 | +€88,414 | +15.6% |
| Fixed assets | 21/28 | €76,554 | €66,997 | -€9,557 | -12.5% |
| Intangible fixed assets | 21 | €1,533 | €1,085 | -€449 | -29.3% |
| Tangible fixed assets | 22/27 | €73,386 | €64,428 | -€8,958 | -12.2% |
| Land and buildings | 22 | €64,947 | €55,998 | -€8,949 | -13.8% |
| Plant, machinery and equipment | 23 | €8,440 | €6,025 | -€2,414 | -28.6% |
| Furniture and vehicles | 24 | - | €2,405 | +€2,405 | |
| Financial fixed assets | 28 | €1,634 | €1,484 | -€150 | -9.2% |
| Current assets | 29/58 | €489,335 | €587,306 | +€97,971 | +20.0% |
| Amounts receivable after more than one year | 29 | - | €100,000 | +€100,000 | |
| Other amounts receivable | 291 | - | €100,000 | +€100,000 | |
| Stocks and contracts in progress | 3 | €128,915 | €141,046 | +€12,131 | +9.4% |
| Stocks | 30/36 | €128,915 | €141,046 | +€12,131 | +9.4% |
| Amounts receivable within one year | 40/41 | €2,588 | €5,891 | +€3,303 | +128% |
| Trade receivables | 40 | €1,247 | €4,751 | +€3,504 | +281% |
| Other amounts receivable | 41 | €1,342 | €1,140 | -€201 | -15.0% |
| Current investments | 50/53 | €180,000 | €255,000 | +€75,000 | +41.7% |
| Cash at bank and in hand | 54/58 | €175,611 | €81,696 | -€93,915 | -53.5% |
| Deferred charges and accrued income | 490/1 | €2,221 | €3,673 | +€1,452 | +65.4% |
| Total equity and liabilities | 10/49 | €565,888 | €654,303 | +€88,414 | +15.6% |
| Equity | 10/15 | €166,845 | €249,792 | +€82,946 | +49.7% |
| Contributions | 10/11 | €24,222 | €24,222 | = | 0.0% |
| Reserves | 13 | €142,624 | €225,570 | +€82,946 | +58.2% |
| Distributable reserves | 133 | €142,624 | €225,570 | +€82,946 | +58.2% |
| Amounts payable | 17/49 | €399,043 | €404,511 | +€5,468 | +1.4% |
| Amounts payable after more than one year | 17 | €238,000 | €224,000 | -€14,000 | -5.9% |
| Financial debts | 170/4 | €238,000 | €224,000 | -€14,000 | -5.9% |
| Amounts payable within one year | 42/48 | €147,181 | €168,018 | +€20,837 | +14.2% |
| Current portion of amounts payable after more than one year | 42 | €24,000 | €14,000 | -€10,000 | -41.7% |
| Trade debts | 44 | €26,507 | €56,342 | +€29,835 | +113% |
| Suppliers | 440/4 | €26,507 | €56,342 | +€29,835 | +113% |
| Taxes, remuneration and social security | 45 | €14,260 | €19,981 | +€5,721 | +40.1% |
| Taxes | 450/3 | €14,260 | €19,981 | +€5,721 | +40.1% |
| Other amounts payable | 47/48 | €82,414 | €77,696 | -€4,718 | -5.7% |
| Accrued charges and deferred income | 492/3 | €13,862 | €12,493 | -€1,369 | -9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,574 | €12,227 | -€23,347 | -65.6% |
| Other operating charges | 640/8 | €14,123 | €834 | -€13,289 | -94.1% |
| Gross operating margin | 9900 | €175,071 | €143,269 | -€31,802 | -18.2% |
| Operating profit (loss) | 9901 | €125,374 | €130,209 | +€4,835 | +3.9% |
| Financial income | 75/76B | €8,409 | €8,621 | +€213 | +2.5% |
| Recurring financial income | 75 | €8,409 | €8,621 | +€213 | +2.5% |
| Financial charges | 65/66B | €19,308 | €15,899 | -€3,409 | -17.7% |
| Recurring financial charges | 65 | €19,308 | €15,899 | -€3,409 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | €114,474 | €122,931 | +€8,457 | +7.4% |
| Income taxes | 67/77 | €17,506 | €39,985 | +€22,479 | +128% |
| Profit (loss) for the period | 9904 | €96,968 | €82,946 | -€14,022 | -14.5% |
| Profit (loss) for the period to be appropriated | 9905 | €96,968 | €82,946 | -€14,022 | -14.5% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.