DEMICUS: 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.
DEMICUS
Largest movements
- Cash +€92,585
up €92,585 (+18.8%), from €492,804 to €585,389
mainly Net result for the year (+€224,100) and Depreciation (+€9,606)
- Reserves +€109,151
up €109,151 (+11.1%), from €980,930 to €1.1m
- Depreciation -€15,672
down €15,672 (-62.0%), from €25,278 to €9,606
- Financial charges +€11,264
up €11,264, from -€7,667 to €3,597
- Gross operating margin +€8,864
up €8,864 (+2.5%), from €353,309 to €362,173
- Financial income -€5,920
down €5,920 (-23.8%), from €24,912 to €18,992
- Taxes +€3,644
up €3,644 (+3.9%), from €93,599 to €97,243
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 | €1,022,910 | €1,135,632 | +€112,722 | +11.0% |
| Fixed assets | 21/28 | €38,167 | €48,746 | +€10,579 | +27.7% |
| Tangible fixed assets | 22/27 | €38,167 | €48,746 | +€10,579 | +27.7% |
| Plant, machinery and equipment | 23 | €26,847 | €23,280 | -€3,567 | -13.3% |
| Furniture and vehicles | 24 | €3,573 | €16,182 | +€12,608 | +352.8% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €7,746 | €9,284 | +€1,538 | +19.9% |
| Current assets | 29/58 | €984,743 | €1,086,886 | +€102,143 | +10.4% |
| Current investments | 50/53 | €489,807 | €496,513 | +€6,706 | +1.4% |
| Cash at bank and in hand | 54/58 | €492,804 | €585,389 | +€92,585 | +18.8% |
| Deferred charges and accrued income | 490/1 | €2,133 | €4,984 | +€2,851 | +133.7% |
| Total equity and liabilities | 10/49 | €1,022,910 | €1,135,632 | +€112,722 | +11.0% |
| Equity | 10/15 | €999,530 | €1,108,681 | +€109,151 | +10.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €980,930 | €1,090,081 | +€109,151 | +11.1% |
| Distributable reserves | 133 | €980,930 | €1,090,081 | +€109,151 | +11.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €23,380 | €26,951 | +€3,571 | +15.3% |
| Amounts payable within one year | 42/48 | €23,380 | €26,893 | +€3,514 | +15.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €2,542 | €2,430 | -€112 | -4.4% |
| Suppliers | 440/4 | €2,542 | €2,430 | -€112 | -4.4% |
| Taxes, remuneration and social security | 45 | €19,831 | €23,625 | +€3,794 | +19.1% |
| Taxes | 450/3 | €10,992 | €14,381 | +€3,389 | +30.8% |
| Remuneration and social security | 454/9 | €8,839 | €9,243 | +€405 | +4.6% |
| Other amounts payable | 47/48 | €1,007 | €839 | -€168 | -16.7% |
| Accrued charges and deferred income | 492/3 | €0 | €57 | +€57 | |
| Remuneration, social security and pensions | 62 | €42,187 | €44,955 | +€2,768 | +6.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,278 | €9,606 | -€15,672 | -62.0% |
| Other operating charges | 640/8 | €1,146 | €1,664 | +€518 | +45.2% |
| Gross operating margin | 9900 | €353,309 | €362,173 | +€8,864 | +2.5% |
| Operating profit (loss) | 9901 | €284,698 | €305,948 | +€21,250 | +7.5% |
| Financial income | 75/76B | €24,912 | €18,992 | -€5,920 | -23.8% |
| Recurring financial income | 75 | €24,912 | €18,992 | -€5,920 | -23.8% |
| Financial charges | 65/66B | -€7,667 | €3,597 | +€11,264 | |
| Recurring financial charges | 65 | -€7,667 | €3,597 | +€11,264 | |
| Profit (loss) for the period before taxes | 9903 | €317,278 | €321,343 | +€4,065 | +1.3% |
| Income taxes | 67/77 | €93,599 | €97,243 | +€3,644 | +3.9% |
| Profit (loss) for the period | 9904 | €223,679 | €224,100 | +€421 | +0.2% |
| Profit (loss) for the period to be appropriated | 9905 | €223,679 | €224,100 | +€421 | +0.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.