DEMIRCI: 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.
DEMIRCI
Largest movements
- Tangible fixed assets +€493,545
up €493,545 (+18.0%), from €2.7m to €3.2m
of which Land and buildings: +€575,154
- Cash -€185,604
down €185,604 (-83.1%), from €223,395 to €37,791
mainly Investment in fixed assets (net) (-€688,610) and Debts after one year (-€145,984)
- Reserves +€247,990
up €247,990 (+19.6%), from €1.3m to €1.5m
of which Distributable reserves: +€247,990
- Advances received +€200,000
new in 2025: €200,000
- Debts after one year -€145,984
down €145,984 (-13.6%), from €1.1m to €928,794
- Other debts +€113,876
up €113,876 (+21.0%), from €542,779 to €656,655
- Tax, wage and social debts -€40,349
down €40,349 (-49.4%), from €81,746 to €41,396
of which Taxes: -€40,349
- Gross operating margin +€110,895
up €110,895 (+22.9%), from €485,211 to €596,106
- Taxes +€74,000
up €74,000 (+163.0%), from €45,408 to €119,408
- Depreciation -€60,930
down €60,930 (-23.8%), from €255,996 to €195,065
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 | €3,224,118 | €3,552,748 | +€328,630 | +10.2% |
| Fixed assets | 21/28 | €2,735,424 | €3,228,969 | +€493,545 | +18.0% |
| Tangible fixed assets | 22/27 | €2,734,924 | €3,228,469 | +€493,545 | +18.0% |
| Land and buildings | 22 | €2,352,469 | €2,927,623 | +€575,154 | +24.4% |
| Plant, machinery and equipment | 23 | - | €3,108 | +€3,108 | |
| Furniture and vehicles | 24 | €1,883 | €1,380 | -€502 | -26.7% |
| Leasing and similar rights | 25 | €380,572 | €296,358 | -€84,215 | -22.1% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €488,693 | €323,779 | -€164,915 | -33.7% |
| Amounts receivable within one year | 40/41 | €257,547 | €281,006 | +€23,459 | +9.1% |
| Trade receivables | 40 | €232,141 | €276,059 | +€43,918 | +18.9% |
| Other amounts receivable | 41 | €25,406 | €4,947 | -€20,459 | -80.5% |
| Cash at bank and in hand | 54/58 | €223,395 | €37,791 | -€185,604 | -83.1% |
| Deferred charges and accrued income | 490/1 | €7,751 | €4,982 | -€2,769 | -35.7% |
| Total equity and liabilities | 10/49 | €3,224,118 | €3,552,748 | +€328,630 | +10.2% |
| Equity | 10/15 | €1,286,032 | €1,534,022 | +€247,990 | +19.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,267,432 | €1,515,422 | +€247,990 | +19.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,267,432 | €1,515,422 | +€247,990 | +19.6% |
| Amounts payable | 17/49 | €1,938,086 | €2,018,726 | +€80,640 | +4.2% |
| Amounts payable after more than one year | 17 | €1,074,779 | €928,794 | -€145,984 | -13.6% |
| Financial debts | 170/4 | €1,074,779 | €928,794 | -€145,984 | -13.6% |
| Amounts payable within one year | 42/48 | €863,307 | €1,089,207 | +€225,900 | +26.2% |
| Current portion of amounts payable after more than one year | 42 | €141,117 | €145,984 | +€4,868 | +3.4% |
| Financial debts | 43 | €42,759 | €25,118 | -€17,641 | -41.3% |
| Credit institutions | 430/8 | €42,759 | €25,118 | -€17,641 | -41.3% |
| Trade debts | 44 | €54,907 | €20,054 | -€34,853 | -63.5% |
| Suppliers | 440/4 | €54,907 | €20,054 | -€34,853 | -63.5% |
| Advances received on contracts in progress | 46 | - | €200,000 | +€200,000 | |
| Taxes, remuneration and social security | 45 | €81,746 | €41,396 | -€40,349 | -49.4% |
| Taxes | 450/3 | €81,746 | €41,396 | -€40,349 | -49.4% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €542,779 | €656,655 | +€113,876 | +21.0% |
| Accrued charges and deferred income | 492/3 | - | €724 | +€724 | |
| Non-recurring operating income | 76A | €30,115 | €0 | -€30,115 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €255,996 | €195,065 | -€60,930 | -23.8% |
| Other operating charges | 640/8 | €4,973 | €3,317 | -€1,656 | -33.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €485,211 | €596,106 | +€110,895 | +22.9% |
| Operating profit (loss) | 9901 | €224,242 | €397,724 | +€173,482 | +77.4% |
| Financial income | 75/76B | €4,344 | €869 | -€3,475 | -80.0% |
| Recurring financial income | 75 | €4,344 | €869 | -€3,475 | -80.0% |
| Financial charges | 65/66B | €26,646 | €31,195 | +€4,549 | +17.1% |
| Recurring financial charges | 65 | €26,646 | €31,195 | +€4,549 | +17.1% |
| Profit (loss) for the period before taxes | 9903 | €201,941 | €367,398 | +€165,457 | +81.9% |
| Income taxes | 67/77 | €45,408 | €119,408 | +€74,000 | +163.0% |
| Profit (loss) for the period | 9904 | €156,533 | €247,990 | +€91,457 | +58.4% |
| Profit (loss) for the period to be appropriated | 9905 | €156,533 | €247,990 | +€91,457 | +58.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.