DEMIRAL: 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.
DEMIRAL
Largest movements
- Cash -€59,059
down €59,059 (-92.5%), from €63,831 to €4,772
mainly Trade debts (-€48,587) and Investment in fixed assets (net) (-€18,000)
- Tangible fixed assets +€17,625
new in 2025: €17,625
- Stocks and contracts +€12,611
up €12,611 (+2.8%), from €456,250 to €468,861
- Trade debts -€48,587
down €48,587 (-12.8%), from €379,238 to €330,651
- Profit (loss) carried forward +€14,981
up €14,981 (+36.1%), from €41,499 to €56,479
- Tax, wage and social debts +€5,650
up €5,650 (+29.9%), from €18,886 to €24,536
of which Remuneration and social security: +€8,244
- Gross operating margin +€13,149
up €13,149 (+22.1%), from €59,439 to €72,589
- Staff costs +€7,027
up €7,027 (+15.7%), from €44,737 to €51,763
- Financial charges -€3,769
down €3,769 (-87.7%), from €4,298 to €529
- Taxes +€3,376
up €3,376 (+290%), from €1,165 to €4,541
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 | €522,829 | €494,019 | -€28,811 | -5.5% |
| Fixed assets | 21/28 | €130 | €17,755 | +€17,625 | +13,558% |
| Tangible fixed assets | 22/27 | - | €17,625 | +€17,625 | |
| Furniture and vehicles | 24 | - | €17,625 | +€17,625 | |
| Financial fixed assets | 28 | €130 | €130 | = | 0.0% |
| Current assets | 29/58 | €522,699 | €476,264 | -€46,436 | -8.9% |
| Stocks and contracts in progress | 3 | €456,250 | €468,861 | +€12,611 | +2.8% |
| Stocks | 30/36 | €456,250 | €468,861 | +€12,611 | +2.8% |
| Cash at bank and in hand | 54/58 | €63,831 | €4,772 | -€59,059 | -92.5% |
| Deferred charges and accrued income | 490/1 | €2,618 | €2,631 | +€13 | +0.5% |
| Total equity and liabilities | 10/49 | €522,829 | €494,019 | -€28,811 | -5.5% |
| Equity | 10/15 | €61,959 | €76,939 | +€14,981 | +24.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €41,499 | €56,479 | +€14,981 | +36.1% |
| Amounts payable | 17/49 | €460,870 | €417,079 | -€43,791 | -9.5% |
| Amounts payable within one year | 42/48 | €460,870 | €417,079 | -€43,791 | -9.5% |
| Trade debts | 44 | €379,238 | €330,651 | -€48,587 | -12.8% |
| Suppliers | 440/4 | €379,238 | €330,651 | -€48,587 | -12.8% |
| Taxes, remuneration and social security | 45 | €18,886 | €24,536 | +€5,650 | +29.9% |
| Taxes | 450/3 | €10,757 | €8,163 | -€2,594 | -24.1% |
| Remuneration and social security | 454/9 | €8,129 | €16,373 | +€8,244 | +101% |
| Other amounts payable | 47/48 | €62,746 | €61,892 | -€854 | -1.4% |
| Remuneration, social security and pensions | 62 | €44,737 | €51,763 | +€7,027 | +15.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €375 | +€375 | |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €59,439 | €72,589 | +€13,149 | +22.1% |
| Operating profit (loss) | 9901 | €14,316 | €20,051 | +€5,735 | +40.1% |
| Financial income | 75/76B | €39 | - | -€39 | |
| Recurring financial income | 75 | €39 | - | -€39 | |
| Financial charges | 65/66B | €4,298 | €529 | -€3,769 | -87.7% |
| Recurring financial charges | 65 | €4,298 | €529 | -€3,769 | -87.7% |
| Profit (loss) for the period before taxes | 9903 | €10,056 | €19,522 | +€9,465 | +94.1% |
| Income taxes | 67/77 | €1,165 | €4,541 | +€3,376 | +290% |
| Profit (loss) for the period | 9904 | €8,892 | €14,981 | +€6,089 | +68.5% |
| Profit (loss) for the period to be appropriated | 9905 | €8,892 | €14,981 | +€6,089 | +68.5% |
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 23 October 2026 via checked.be.