DEMEYERE: 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.
DEMEYERE
Largest movements
- Financial fixed assets +€3.8m
up €3.8m (+171%), from €2.2m to €6.0m
- Cash +€484,655
up €484,655 (+59.2%), from €819,118 to €1.3m
- Stocks and contracts +€362,779
new in 2025: €362,779
- Tangible fixed assets +€190,296
new in 2025: €190,296
of which Land and buildings: +€123,872
- Receivables within one year +€96,644
up €96,644 (+3,178%), from €3,041 to €99,685
of which Trade receivables: +€80,360
- Other debts +€2.4m
up €2.4m (+4,074%), from €58,130 to €2.4m
- Debts after one year +€1.6m
new in 2025: €1.6m
- Provisions +€589,145
new in 2025: €589,145
- Current portion of long-term debt +€209,639
new in 2025: €209,639
- Financial income +€2.0m
up €2.0m, from €0 to €2.0m
- Gross operating margin +€792,090
up €792,090 (+3,407%), from €23,246 to €815,336
- Taxes +€189,812
up €189,812 (+3,451%), from €5,500 to €195,312
- Staff costs +€92,642
new in 2025: €92,642
- Financial charges +€62,962
up €62,962 (+18,575%), from €339 to €63,301
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,060,538 | €7,965,709 | +€4.9m | +160% |
| Fixed assets | 21/28 | €2,207,280 | €6,181,691 | +€4.0m | +180% |
| Tangible fixed assets | 22/27 | - | €190,296 | +€190,296 | |
| Land and buildings | 22 | - | €123,872 | +€123,872 | |
| Plant, machinery and equipment | 23 | - | €32,300 | +€32,300 | |
| Furniture and vehicles | 24 | - | €34,125 | +€34,125 | |
| Financial fixed assets | 28 | €2,207,280 | €5,991,395 | +€3.8m | +171% |
| Current assets | 29/58 | €853,258 | €1,784,017 | +€930,759 | +109% |
| Stocks and contracts in progress | 3 | - | €362,779 | +€362,779 | |
| Stocks | 30/36 | - | €362,779 | +€362,779 | |
| Amounts receivable within one year | 40/41 | €3,041 | €99,685 | +€96,644 | +3,178% |
| Trade receivables | 40 | €2,541 | €82,901 | +€80,360 | +3,163% |
| Other amounts receivable | 41 | €500 | €16,784 | +€16,284 | +3,257% |
| Current investments | 50/53 | €31,098 | €0 | -€31,098 | -100% |
| Cash at bank and in hand | 54/58 | €819,118 | €1,303,773 | +€484,655 | +59.2% |
| Deferred charges and accrued income | 490/1 | - | €17,779 | +€17,779 | |
| Total equity and liabilities | 10/49 | €3,060,538 | €7,965,709 | +€4.9m | +160% |
| Equity | 10/15 | €3,000,013 | €3,005,927 | +€5,914 | +0.2% |
| Contributions | 10/11 | €1,740,000 | €1,740,000 | = | 0.0% |
| Reserves | 13 | €1,260,013 | €1,265,927 | +€5,914 | +0.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,260,013 | €1,265,927 | +€5,914 | +0.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | - | €589,145 | +€589,145 | |
| Deferred taxes | 168 | - | €589,145 | +€589,145 | |
| Amounts payable | 17/49 | €60,525 | €4,370,637 | +€4.3m | +7,121% |
| Amounts payable after more than one year | 17 | - | €1,639,239 | +€1.6m | |
| Financial debts | 170/4 | - | €1,639,239 | +€1.6m | |
| Amounts payable within one year | 42/48 | €60,525 | €2,731,398 | +€2.7m | +4,413% |
| Current portion of amounts payable after more than one year | 42 | - | €209,639 | +€209,639 | |
| Trade debts | 44 | €1,084 | €72,677 | +€71,594 | +6,608% |
| Suppliers | 440/4 | €1,084 | €72,677 | +€71,594 | +6,608% |
| Taxes, remuneration and social security | 45 | €1,311 | €22,681 | +€21,370 | +1,630% |
| Taxes | 450/3 | €1,311 | €6,480 | +€5,168 | +394% |
| Remuneration and social security | 454/9 | - | €16,202 | +€16,202 | |
| Other amounts payable | 47/48 | €58,130 | €2,426,400 | +€2.4m | +4,074% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | - | €92,642 | +€92,642 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €25,092 | +€25,092 | |
| Other operating charges | 640/8 | €1,179 | €10,007 | +€8,828 | +749% |
| Gross operating margin | 9900 | €23,246 | €815,336 | +€792,090 | +3,407% |
| Operating profit (loss) | 9901 | €22,067 | €687,596 | +€665,528 | +3,016% |
| Financial income | 75/76B | €0 | €2,003,180 | +€2.0m | |
| Recurring financial income | 75 | €0 | €2,003,180 | +€2.0m | |
| Financial charges | 65/66B | €339 | €63,301 | +€62,962 | +18,575% |
| Recurring financial charges | 65 | €339 | €63,301 | +€62,962 | +18,575% |
| Profit (loss) for the period before taxes | 9903 | €21,728 | €2,627,474 | +€2.6m | +11,992% |
| Transfer from deferred taxes | 780 | - | €152 | +€152 | |
| Income taxes | 67/77 | €5,500 | €195,312 | +€189,812 | +3,451% |
| Profit (loss) for the period | 9904 | €16,228 | €2,432,314 | +€2.4m | +14,888% |
| Profit (loss) for the period to be appropriated | 9905 | €16,228 | €2,432,314 | +€2.4m | +14,888% |
Source: filed annual accounts (NBB), financial years ended 30 September 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.