DEMEX: 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.
DEMEX
Largest movements
- Stocks and contracts -€53,230
down €53,230 (-52.1%), from €102,203 to €48,973
of which Stocks: -€61,580
- Current investments +€30,000
new in 2025: €30,000
- Receivables within one year +€25,846
up €25,846 (+356%), from €7,265 to €33,111
of which Trade receivables: +€27,084
- Tangible fixed assets +€16,349
up €16,349 (+77.7%), from €21,030 to €37,379
of which Furniture and vehicles: +€18,887
- Reserves +€40,266
up €40,266 (+49.1%), from €82,061 to €122,327
- Tax, wage and social debts -€19,390
down €19,390 (-75.8%), from €25,587 to €6,197
of which Taxes: -€18,690
- Trade debts -€5,471
down €5,471 (-67.8%), from €8,073 to €2,602
- Debts after one year +€4,131
up €4,131 (+8.8%), from €46,786 to €50,916
- Other debts +€3,572
up €3,572 (+214%), from €1,666 to €5,238
- Gross operating margin +€14,122
up €14,122 (+25.1%), from €56,343 to €70,464
- Depreciation +€5,251
up €5,251 (+142%), from €3,689 to €8,940
- Taxes +€2,238
up €2,238 (+16.9%), from €13,213 to €15,451
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 | €177,575 | €197,541 | +€19,966 | +11.2% |
| Fixed assets | 21/28 | €21,030 | €37,379 | +€16,349 | +77.7% |
| Intangible fixed assets | 21 | €1 | €1 | -€0 | -16.7% |
| Tangible fixed assets | 22/27 | €21,030 | €37,379 | +€16,349 | +77.7% |
| Plant, machinery and equipment | 23 | €2,225 | €1,391 | -€835 | -37.5% |
| Furniture and vehicles | 24 | €5,116 | €24,003 | +€18,887 | +369% |
| Other tangible fixed assets | 26 | €13,688 | €11,985 | -€1,703 | -12.4% |
| Current assets | 29/58 | €156,544 | €160,162 | +€3,617 | +2.3% |
| Stocks and contracts in progress | 3 | €102,203 | €48,973 | -€53,230 | -52.1% |
| Stocks | 30/36 | €95,553 | €33,973 | -€61,580 | -64.4% |
| Contracts in progress | 37 | €6,650 | €15,000 | +€8,350 | +126% |
| Amounts receivable within one year | 40/41 | €7,265 | €33,111 | +€25,846 | +356% |
| Trade receivables | 40 | €5,877 | €32,961 | +€27,084 | +461% |
| Other amounts receivable | 41 | €1,388 | €150 | -€1,238 | -89.2% |
| Current investments | 50/53 | - | €30,000 | +€30,000 | |
| Cash at bank and in hand | 54/58 | €45,473 | €45,977 | +€504 | +1.1% |
| Deferred charges and accrued income | 490/1 | €1,603 | €2,101 | +€498 | +31.1% |
| Total equity and liabilities | 10/49 | €177,575 | €197,541 | +€19,966 | +11.2% |
| Equity | 10/15 | €92,061 | €132,327 | +€40,266 | +43.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €82,061 | €122,327 | +€40,266 | +49.1% |
| Distributable reserves | 133 | €82,061 | €122,327 | +€40,266 | +49.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €85,514 | €65,214 | -€20,299 | -23.7% |
| Amounts payable after more than one year | 17 | €46,786 | €50,916 | +€4,131 | +8.8% |
| Other amounts payable | 178/9 | €46,786 | €50,916 | +€4,131 | +8.8% |
| Amounts payable within one year | 42/48 | €35,326 | €14,037 | -€21,289 | -60.3% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €8,073 | €2,602 | -€5,471 | -67.8% |
| Suppliers | 440/4 | €8,073 | €2,602 | -€5,471 | -67.8% |
| Taxes, remuneration and social security | 45 | €25,587 | €6,197 | -€19,390 | -75.8% |
| Taxes | 450/3 | €24,887 | €6,197 | -€18,690 | -75.1% |
| Remuneration and social security | 454/9 | €700 | €0 | -€700 | -100% |
| Other amounts payable | 47/48 | €1,666 | €5,238 | +€3,572 | +214% |
| Accrued charges and deferred income | 492/3 | €3,402 | €262 | -€3,140 | -92.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,689 | €8,940 | +€5,251 | +142% |
| Other operating charges | 640/8 | €654 | €1,144 | +€490 | +75.0% |
| Gross operating margin | 9900 | €56,343 | €70,464 | +€14,122 | +25.1% |
| Operating profit (loss) | 9901 | €52,000 | €60,380 | +€8,381 | +16.1% |
| Financial income | 75/76B | €83 | €778 | +€695 | +835% |
| Recurring financial income | 75 | €83 | €778 | +€695 | +835% |
| Financial charges | 65/66B | €3,533 | €3,724 | +€191 | +5.4% |
| Recurring financial charges | 65 | €3,533 | €3,724 | +€191 | +5.4% |
| Profit (loss) for the period before taxes | 9903 | €48,550 | €57,435 | +€8,885 | +18.3% |
| Income taxes | 67/77 | €13,213 | €15,451 | +€2,238 | +16.9% |
| Profit (loss) for the period | 9904 | €35,337 | €41,984 | +€6,646 | +18.8% |
| Profit (loss) for the period to be appropriated | 9905 | €35,337 | €41,984 | +€6,646 | +18.8% |
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 13 October 2026 via checked.be.