DEMI: what changed
Two fiscal 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.
DEMI
Largest movements
- Cash +€281,905
up €281,905 (+113.6%), from €248,202 to €530,107
mainly Net result for the year (+€202,452) and Investment in fixed assets (net) (+€195,000)
- Current investments +€198,520
new in 2025: €198,520
- Financial fixed assets -€195,000
down €195,000 (-27.9%), from €700,000 to €505,000
- Tangible fixed assets -€60,897
down €60,897 (-5.1%), from €1.2m to €1.1m
of which Land and buildings: -€44,310
- Deferred charges and accrued income -€59,805
down €59,805 (-93.8%), from €63,735 to €3,930
- Reserves +€202,452
up €202,452 (+12.3%), from €1.7m to €1.9m
of which Distributable reserves: +€217,689
- Gross operating margin -€161,120
down €161,120 (-31.5%), from €510,839 to €349,718
- Depreciation -€41,013
down €41,013 (-40.2%), from €101,910 to €60,897
- Taxes -€38,505
down €38,505 (-28.7%), from €134,300 to €95,795
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.
Cash bridge derived
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 | €2,228,751 | €2,393,994 | +€165,243 | +7.4% |
| Fixed assets | 21/28 | €1,891,606 | €1,635,709 | -€255,897 | -13.5% |
| Tangible fixed assets | 22/27 | €1,191,606 | €1,130,709 | -€60,897 | -5.1% |
| Land and buildings | 22 | €1,151,680 | €1,107,370 | -€44,310 | -3.8% |
| Plant, machinery and equipment | 23 | €4,033 | €3,526 | -€507 | -12.6% |
| Furniture and vehicles | 24 | €35,893 | €19,813 | -€16,080 | -44.8% |
| Financial fixed assets | 28 | €700,000 | €505,000 | -€195,000 | -27.9% |
| Current assets | 29/58 | €337,145 | €758,285 | +€421,140 | +124.9% |
| Amounts receivable within one year | 40/41 | €25,208 | €25,728 | +€520 | +2.1% |
| Trade receivables | 40 | €25,208 | €25,728 | +€520 | +2.1% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | - | €198,520 | +€198,520 | |
| Cash at bank and in hand | 54/58 | €248,202 | €530,107 | +€281,905 | +113.6% |
| Deferred charges and accrued income | 490/1 | €63,735 | €3,930 | -€59,805 | -93.8% |
| Total equity and liabilities | 10/49 | €2,228,751 | €2,393,994 | +€165,243 | +7.4% |
| Equity | 10/15 | €1,917,058 | €2,119,510 | +€202,452 | +10.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,652,341 | €1,854,793 | +€202,452 | +12.3% |
| Tax-exempt reserves | 132 | €236,534 | €221,297 | -€15,237 | -6.4% |
| Distributable reserves | 133 | €1,415,807 | €1,633,496 | +€217,689 | +15.4% |
| Profit (loss) carried forward | 14 | €246,117 | €246,117 | = | 0.0% |
| Provisions and deferred taxes | 16 | €129,187 | €121,341 | -€7,847 | -6.1% |
| Provisions for liabilities and charges | 160/5 | €7,378 | €7,378 | = | 0.0% |
| Pensions and similar obligations | 160 | €7,378 | €7,378 | = | 0.0% |
| Deferred taxes | 168 | €121,809 | €113,962 | -€7,847 | -6.4% |
| Amounts payable | 17/49 | €182,506 | €153,144 | -€29,362 | -16.1% |
| Amounts payable after more than one year | 17 | €60,448 | €55,000 | -€5,448 | -9.0% |
| Financial debts | 170/4 | €60,448 | €55,000 | -€5,448 | -9.0% |
| Amounts payable within one year | 42/48 | €114,034 | €90,019 | -€24,016 | -21.1% |
| Current portion of amounts payable after more than one year | 42 | €21,237 | €5,448 | -€15,789 | -74.3% |
| Trade debts | 44 | €8,909 | €3,215 | -€5,694 | -63.9% |
| Suppliers | 440/4 | €8,909 | €3,215 | -€5,694 | -63.9% |
| Taxes, remuneration and social security | 45 | €40,540 | €35,121 | -€5,419 | -13.4% |
| Taxes | 450/3 | €38,788 | €33,367 | -€5,421 | -14.0% |
| Remuneration and social security | 454/9 | €1,753 | €1,755 | +€2 | +0.1% |
| Other amounts payable | 47/48 | €43,348 | €46,234 | +€2,886 | +6.7% |
| Accrued charges and deferred income | 492/3 | €8,024 | €8,125 | +€101 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,910 | €60,897 | -€41,013 | -40.2% |
| Other operating charges | 640/8 | €2,964 | €2,843 | -€121 | -4.1% |
| Gross operating margin | 9900 | €510,839 | €349,718 | -€161,120 | -31.5% |
| Operating profit (loss) | 9901 | €405,965 | €285,978 | -€119,987 | -29.6% |
| Financial income | 75/76B | €14,019 | €13,055 | -€965 | -6.9% |
| Recurring financial income | 75 | €14,019 | €13,055 | -€965 | -6.9% |
| Financial charges | 65/66B | €9,594 | €8,633 | -€962 | -10.0% |
| Recurring financial charges | 65 | €9,594 | €8,633 | -€962 | -10.0% |
| Profit (loss) for the period before taxes | 9903 | €410,390 | €290,400 | -€119,990 | -29.2% |
| Transfer from deferred taxes | 780 | €8,067 | €7,847 | -€221 | -2.7% |
| Income taxes | 67/77 | €134,300 | €95,795 | -€38,505 | -28.7% |
| Profit (loss) for the period | 9904 | €284,157 | €202,452 | -€81,705 | -28.8% |
| Transfer from tax-exempt reserves | 789 | €15,665 | €15,237 | -€428 | -2.7% |
| Profit (loss) for the period to be appropriated | 9905 | €299,822 | €217,689 | -€82,133 | -27.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.