DEMEYAN: 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.
What changed
DEMEYAN
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€18,966
2024 · €6.4m-€6.4m
Equity
€20.7m
2024 · €20.7m+€18,966
Cash
€126,426
2024 · €65,822+€60,604
Balance sheet total
€30.9m
2024 · €31.9m-€932,472
Largest movements
Assets
- Tangible fixed assets -€704,401
down €704,401 (-91.7%), from €768,563 to €64,163
of which Furniture and vehicles: -€704,401
Equity and liabilities
- Other debts +€1.6m
up €1.6m (+1,477%), from €106,108 to €1.7m
- Trade debts -€972,765
down €972,765 (-98.8%), from €984,876 to €12,111
- Debts after one year -€750,000
down €750,000 (-11.1%), from €6.8m to €6.0m
of which Financial debts: -€500,000
- Short-term financial debts -€750,000
down €750,000 (-37.5%), from €2.0m to €1.3m
Income statement
- Financial income -€6.5m
down €6.5m (-99.6%), from €6.6m to €25,365
- Turnover -€586,358
down €586,358 (-45.1%), from €1.3m to €712,955
- Goods and materials -€393,933
down €393,933 (-80.8%), from €487,392 to €93,459
of which Change in stocks: decrease (increase): -€363,999
- Depreciation -€212,310
down €212,310 (-85.4%), from €248,641 to €36,331
- Services and other goods -€114,392
down €114,392 (-38.7%), from €295,861 to €181,468
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.
Result 2024
€6.4m
Turnover
-€586,358
Other operating income
-€51,506
Goods and materials
+€393,933
Services and other goods
+€114,392
Depreciation
+€212,310
Other operating charges
+€6,524
Other operating items
+€9,054
Financial income
-€6.5m
Financial charges
+€83,503
Taxes
-€35
Result 2025
€18,966
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€904,220
Investment
+€668,070
Financing
-€1.5m
Cash 2024
€65,822
From operations (derived)
+€904,220
Net result for the year
+€18,966
Depreciation
+€36,331
Receivables after one year
-€24,929
Receivables within one year
+€314,040
Deferred charges and accrued income
-€436
Trade debts
-€972,765
Tax, wage and social debts
+€4,810
Other debts
+€1.6m
Accrued charges and deferred income
-€39,341
Investment (derived)
+€668,070
Investment in fixed assets (net)
+€668,070
Financing
-€1.5m
Debts after one year
-€750,000
Current portion of long-term debt
-€11,686
Short-term financial debts
-€750,000
Cash 2025
€126,426
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €31,871,782 | €30,939,310 | -€932,472 | -2.9% |
| Fixed assets | 21/28 | €29,137,950 | €28,433,549 | -€704,401 | -2.4% |
| Tangible fixed assets | 22/27 | €768,563 | €64,163 | -€704,401 | -91.7% |
| Land and buildings | 22 | €0 | - | = | |
| Furniture and vehicles | 24 | €768,563 | €64,163 | -€704,401 | -91.7% |
| Financial fixed assets | 28 | €28,369,386 | €28,369,386 | = | 0.0% |
| Affiliated companies | 280/1 | €28,369,296 | €28,369,296 | = | 0.0% |
| Participating interests | 280 | €28,369,296 | €28,369,296 | = | 0.0% |
| Other financial fixed assets | 284/8 | €90 | €90 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €2,733,832 | €2,505,761 | -€228,071 | -8.3% |
| Amounts receivable after more than one year | 29 | €1,424,500 | €1,449,429 | +€24,929 | +1.8% |
| Other amounts receivable | 291 | €1,424,500 | €1,449,429 | +€24,929 | +1.8% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Stocks | 30/36 | €0 | - | = | |
| Goods purchased for resale | 34 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €1,218,581 | €904,542 | -€314,040 | -25.8% |
| Trade receivables | 40 | €643,838 | €381,055 | -€262,783 | -40.8% |
| Other amounts receivable | 41 | €574,743 | €523,487 | -€51,256 | -8.9% |
| Cash at bank and in hand | 54/58 | €65,822 | €126,426 | +€60,604 | +92.1% |
| Deferred charges and accrued income | 490/1 | €24,929 | €25,365 | +€436 | +1.7% |
| Total equity and liabilities | 10/49 | €31,871,782 | €30,939,310 | -€932,472 | -2.9% |
| Equity | 10/15 | €20,683,840 | €20,702,805 | +€18,966 | +0.1% |
| Contributions | 10/11 | €3,178,750 | €3,178,750 | = | 0.0% |
| Reserves | 13 | €17,505,090 | €17,524,055 | +€18,966 | +0.1% |
| Non-distributable reserves | 130/1 | €317,875 | €317,875 | = | 0.0% |
| Reserves not available under the articles | 1311 | €317,875 | €317,875 | = | 0.0% |
| Distributable reserves | 133 | €17,187,215 | €17,206,180 | +€18,966 | +0.1% |
| Amounts payable | 17/49 | €11,187,942 | €10,236,505 | -€951,437 | -8.5% |
| Amounts payable after more than one year | 17 | €6,785,425 | €6,035,425 | -€750,000 | -11.1% |
| Financial debts | 170/4 | €3,000,000 | €2,500,000 | -€500,000 | -16.7% |
| Credit institutions | 173 | €3,000,000 | €2,500,000 | -€500,000 | -16.7% |
| Other amounts payable | 178/9 | €3,785,425 | €3,535,425 | -€250,000 | -6.6% |
| Amounts payable within one year | 42/48 | €4,141,377 | €3,979,281 | -€162,096 | -3.9% |
| Current portion of amounts payable after more than one year | 42 | €994,385 | €982,699 | -€11,686 | -1.2% |
| Financial debts | 43 | €2,000,000 | €1,250,000 | -€750,000 | -37.5% |
| Credit institutions | 430/8 | €2,000,000 | €1,250,000 | -€750,000 | -37.5% |
| Trade debts | 44 | €984,876 | €12,111 | -€972,765 | -98.8% |
| Suppliers | 440/4 | €984,876 | €12,111 | -€972,765 | -98.8% |
| Taxes, remuneration and social security | 45 | €56,009 | €60,818 | +€4,810 | +8.6% |
| Taxes | 450/3 | €56,009 | €60,818 | +€4,810 | +8.6% |
| Other amounts payable | 47/48 | €106,108 | €1,673,653 | +€1.6m | +1,477% |
| Accrued charges and deferred income | 492/3 | €261,140 | €221,799 | -€39,341 | -15.1% |
| Operating income | 70/76A | €1,378,486 | €729,705 | -€648,781 | -47.1% |
| Turnover | 70 | €1,299,313 | €712,955 | -€586,358 | -45.1% |
| Other operating income | 74 | €68,251 | €16,745 | -€51,506 | -75.5% |
| Non-recurring operating income | 76A | €10,923 | €6 | -€10,917 | -99.9% |
| Operating charges | 60/66A | €1,129,476 | €382,345 | -€747,132 | -66.1% |
| Goods for resale, raw materials and consumables | 60 | €487,392 | €93,459 | -€393,933 | -80.8% |
| Purchases | 600/8 | €123,394 | €93,459 | -€29,935 | -24.3% |
| Change in stocks: decrease (increase) | 609 | €363,999 | €0 | -€363,999 | -100% |
| Services and other goods | 61 | €295,861 | €181,468 | -€114,392 | -38.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €248,641 | €36,331 | -€212,310 | -85.4% |
| Other operating charges | 640/8 | €9,166 | €2,642 | -€6,524 | -71.2% |
| Non-recurring operating charges | 66A | €88,416 | €68,445 | -€19,971 | -22.6% |
| Operating profit (loss) | 9901 | €249,010 | €347,361 | +€98,350 | +39.5% |
| Financial income | 75/76B | €6,571,413 | €25,365 | -€6.5m | -99.6% |
| Recurring financial income | 75 | €6,571,413 | €25,365 | -€6.5m | -99.6% |
| Income from financial fixed assets | 750 | €6,546,408 | €0 | -€6.5m | -100% |
| Income from current assets | 751 | €24,929 | €25,365 | +€436 | +1.7% |
| Other financial income | 752/9 | €76 | €0 | -€76 | -100% |
| Financial charges | 65/66B | €436,488 | €352,985 | -€83,503 | -19.1% |
| Recurring financial charges | 65 | €436,488 | €352,985 | -€83,503 | -19.1% |
| Debt charges | 650 | €431,892 | €351,545 | -€80,347 | -18.6% |
| Other financial charges | 652/9 | €4,596 | €1,441 | -€3,156 | -68.7% |
| Profit (loss) for the period before taxes | 9903 | €6,383,935 | €19,740 | -€6.4m | -99.7% |
| Income taxes | 67/77 | €739 | €774 | +€35 | +4.8% |
| Taxes | 670/3 | €739 | €774 | +€35 | +4.8% |
| Profit (loss) for the period | 9904 | €6,383,196 | €18,966 | -€6.4m | -99.7% |
| Profit (loss) for the period to be appropriated | 9905 | €6,383,196 | €18,966 | -€6.4m | -99.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.