Deminvest: 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
Deminvest
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€52,966
2024 · €55,180-€2,214
Equity
€4.2m
2024 · €4.1m+€52,966
Cash
€55,248
2024 · €6,962+€48,286
Balance sheet total
€5.8m
2024 · €5.9m-€98,814
Largest movements
Assets
- Receivables after one year -€120,000
down €120,000 (-7.5%), from €1.6m to €1.5m
Equity and liabilities
- Other debts -€277,610
down €277,610 (-48.5%), from €572,320 to €294,710
- Debts after one year +€77,408
up €77,408 (+7.5%), from €1.0m to €1.1m
Income statement
- Gross operating margin +€63,723
up €63,723 (+65.0%), from €97,998 to €161,721
- Staff costs +€61,724
new in 2025: €61,724
- Financial charges +€5,375
up €5,375 (+18.1%), from €29,629 to €35,004
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
€55,180
Gross operating margin
+€63,723
Staff costs
-€61,724
Depreciation
+€479
Other operating charges
-€4
Financial income
-€18
Financial charges
-€5,375
Taxes
+€705
Result 2025
€52,966
raises the resultlowers the result
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
-€54,362
Investment
+€69
Financing
+€102,578
Cash 2024
€6,962
From operations (derived)
-€54,362
Net result for the year
+€52,966
Depreciation
+€23,316
Receivables after one year
+€120,000
Receivables within one year
+€6,371
Deferred charges and accrued income
-€2,657
Trade debts
-€1,410
Tax, wage and social debts
+€23,813
Other debts
-€277,610
Accrued charges and deferred income
+€849
Investment (derived)
+€69
Investment in fixed assets (net)
+€69
Financing
+€102,578
Debts after one year
+€77,408
Current portion of long-term debt
+€25,170
Cash 2025
€55,248
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,868,975 | €5,770,162 | -€98,814 | -1.7% |
| Fixed assets | 21/28 | €3,924,948 | €3,901,562 | -€23,386 | -0.6% |
| Tangible fixed assets | 22/27 | €249,626 | €226,240 | -€23,386 | -9.4% |
| Land and buildings | 22 | €249,626 | €226,240 | -€23,386 | -9.4% |
| Financial fixed assets | 28 | €3,675,322 | €3,675,322 | = | 0.0% |
| Current assets | 29/58 | €1,944,028 | €1,868,599 | -€75,428 | -3.9% |
| Amounts receivable after more than one year | 29 | €1,600,000 | €1,480,000 | -€120,000 | -7.5% |
| Other amounts receivable | 291 | €1,600,000 | €1,480,000 | -€120,000 | -7.5% |
| Amounts receivable within one year | 40/41 | €298,665 | €292,295 | -€6,371 | -2.1% |
| Trade receivables | 40 | €242 | €247 | +€5 | +2.1% |
| Other amounts receivable | 41 | €298,423 | €292,048 | -€6,376 | -2.1% |
| Cash at bank and in hand | 54/58 | €6,962 | €55,248 | +€48,286 | +694% |
| Deferred charges and accrued income | 490/1 | €38,400 | €41,057 | +€2,657 | +6.9% |
| Total equity and liabilities | 10/49 | €5,868,975 | €5,770,162 | -€98,814 | -1.7% |
| Equity | 10/15 | €4,122,730 | €4,175,696 | +€52,966 | +1.3% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Revaluation surpluses | 12 | €2,373,559 | €2,373,559 | = | 0.0% |
| Reserves | 13 | €1,632,018 | €1,687,198 | +€55,180 | +3.4% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €1,625,821 | €1,681,000 | +€55,180 | +3.4% |
| Profit (loss) carried forward | 14 | €55,180 | €52,966 | -€2,214 | -4.0% |
| Amounts payable | 17/49 | €1,746,245 | €1,594,466 | -€151,780 | -8.7% |
| Amounts payable after more than one year | 17 | €1,035,722 | €1,113,130 | +€77,408 | +7.5% |
| Financial debts | 170/4 | €1,035,722 | €1,113,130 | +€77,408 | +7.5% |
| Amounts payable within one year | 42/48 | €709,618 | €479,581 | -€230,037 | -32.4% |
| Current portion of amounts payable after more than one year | 42 | €131,311 | €156,482 | +€25,170 | +19.2% |
| Trade debts | 44 | €2,298 | €887 | -€1,410 | -61.4% |
| Suppliers | 440/4 | €2,298 | €887 | -€1,410 | -61.4% |
| Taxes, remuneration and social security | 45 | €3,689 | €27,502 | +€23,813 | +646% |
| Taxes | 450/3 | €3,689 | €12,599 | +€8,910 | +242% |
| Remuneration and social security | 454/9 | - | €14,903 | +€14,903 | |
| Other amounts payable | 47/48 | €572,320 | €294,710 | -€277,610 | -48.5% |
| Accrued charges and deferred income | 492/3 | €906 | €1,755 | +€849 | +93.7% |
| Non-recurring operating income | 76A | - | €595 | +€595 | |
| Remuneration, social security and pensions | 62 | - | €61,724 | +€61,724 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,796 | €23,316 | -€479 | -2.0% |
| Other operating charges | 640/8 | €9,186 | €9,191 | +€4 | 0.0% |
| Gross operating margin | 9900 | €97,998 | €161,721 | +€63,723 | +65.0% |
| Operating profit (loss) | 9901 | €65,016 | €67,490 | +€2,474 | +3.8% |
| Financial income | 75/76B | €38,418 | €38,400 | -€18 | 0.0% |
| Recurring financial income | 75 | €38,418 | €38,400 | -€18 | 0.0% |
| Financial charges | 65/66B | €29,629 | €35,004 | +€5,375 | +18.1% |
| Recurring financial charges | 65 | €29,629 | €35,004 | +€5,375 | +18.1% |
| Profit (loss) for the period before taxes | 9903 | €73,805 | €70,886 | -€2,919 | -4.0% |
| Income taxes | 67/77 | €18,626 | €17,920 | -€705 | -3.8% |
| Profit (loss) for the period | 9904 | €55,180 | €52,966 | -€2,214 | -4.0% |
| Profit (loss) for the period to be appropriated | 9905 | €55,180 | €52,966 | -€2,214 | -4.0% |
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 30 October 2026 via checked.be.