Demi Group: 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.
Demi Group
Largest movements
- Stocks and contracts +€9,861
up €9,861 (+40.7%), from €24,214 to €34,075
- Receivables within one year -€5,681
down €5,681 (-4.6%), from €124,408 to €118,726
of which Trade receivables: -€3,224
- Cash +€5,424
up €5,424 (+48.0%), from €11,297 to €16,721
mainly Net result for the year (+€27,874) and Tax, wage and social debts (+€20,575)
- Tangible fixed assets +€3,412
up €3,412 (+8.0%), from €42,733 to €46,145
of which Furniture and vehicles: +€14,751
- Trade debts -€30,654
down €30,654 (-26.3%), from €116,442 to €85,788
- Reserves +€27,874
up €27,874 (+73.1%), from €38,153 to €66,027
- Tax, wage and social debts +€20,575
up €20,575 (+66.3%), from €31,047 to €51,622
of which Remuneration and social security: +€18,027
- Accrued charges and deferred income -€3,062
down €3,062 (-100%), from €3,062 to €0
- Staff costs +€13,747
up €13,747 (+9.3%), from €148,509 to €162,256
- Gross operating margin -€3,332
down €3,332 (-1.5%), from €228,570 to €225,239
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 | €203,890 | €218,624 | +€14,734 | +7.2% |
| Fixed assets | 21/28 | €43,133 | €46,545 | +€3,412 | +7.9% |
| Tangible fixed assets | 22/27 | €42,733 | €46,145 | +€3,412 | +8.0% |
| Plant, machinery and equipment | 23 | €24,328 | €18,745 | -€5,583 | -22.9% |
| Furniture and vehicles | 24 | - | €14,751 | +€14,751 | |
| Other tangible fixed assets | 26 | €18,406 | €12,649 | -€5,756 | -31.3% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €160,757 | €172,079 | +€11,321 | +7.0% |
| Stocks and contracts in progress | 3 | €24,214 | €34,075 | +€9,861 | +40.7% |
| Stocks | 30/36 | €24,214 | €34,075 | +€9,861 | +40.7% |
| Amounts receivable within one year | 40/41 | €124,408 | €118,726 | -€5,681 | -4.6% |
| Trade receivables | 40 | €118,458 | €115,234 | -€3,224 | -2.7% |
| Other amounts receivable | 41 | €5,949 | €3,492 | -€2,457 | -41.3% |
| Cash at bank and in hand | 54/58 | €11,297 | €16,721 | +€5,424 | +48.0% |
| Deferred charges and accrued income | 490/1 | €838 | €2,556 | +€1,718 | +205% |
| Total equity and liabilities | 10/49 | €203,890 | €218,624 | +€14,734 | +7.2% |
| Equity | 10/15 | €53,153 | €81,027 | +€27,874 | +52.4% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €38,153 | €66,027 | +€27,874 | +73.1% |
| Distributable reserves | 133 | €38,153 | €66,027 | +€27,874 | +73.1% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €150,738 | €137,597 | -€13,140 | -8.7% |
| Amounts payable within one year | 42/48 | €147,676 | €137,597 | -€10,078 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €116,442 | €85,788 | -€30,654 | -26.3% |
| Suppliers | 440/4 | €116,442 | €85,788 | -€30,654 | -26.3% |
| Taxes, remuneration and social security | 45 | €31,047 | €51,622 | +€20,575 | +66.3% |
| Taxes | 450/3 | €9,547 | €12,096 | +€2,549 | +26.7% |
| Remuneration and social security | 454/9 | €21,499 | €39,526 | +€18,027 | +83.8% |
| Other amounts payable | 47/48 | €187 | €187 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €3,062 | €0 | -€3,062 | -100% |
| Remuneration, social security and pensions | 62 | €148,509 | €162,256 | +€13,747 | +9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,839 | €15,994 | +€2,155 | +15.6% |
| Other operating charges | 640/8 | €2,834 | €2,182 | -€652 | -23.0% |
| Gross operating margin | 9900 | €228,570 | €225,239 | -€3,332 | -1.5% |
| Operating profit (loss) | 9901 | €63,389 | €44,806 | -€18,582 | -29.3% |
| Financial income | 75/76B | €0 | €393 | +€392 | +118,845% |
| Recurring financial income | 75 | €0 | €393 | +€392 | +118,845% |
| Financial charges | 65/66B | €4,962 | €6,357 | +€1,395 | +28.1% |
| Recurring financial charges | 65 | €4,962 | €6,357 | +€1,395 | +28.1% |
| Profit (loss) for the period before taxes | 9903 | €58,427 | €38,842 | -€19,585 | -33.5% |
| Income taxes | 67/77 | €10,047 | €10,968 | +€921 | +9.2% |
| Profit (loss) for the period | 9904 | €48,380 | €27,874 | -€20,506 | -42.4% |
| Profit (loss) for the period to be appropriated | 9905 | €48,380 | €27,874 | -€20,506 | -42.4% |
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.