DEMIRHAN: 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.
DEMIRHAN
Largest movements
- Receivables within one year -€4,548
down €4,548 (-6.1%), from €74,393 to €69,845
of which Trade receivables: -€16,151
- Tangible fixed assets +€2,984
up €2,984 (+7.5%), from €39,990 to €42,974
of which Plant, machinery and equipment: +€2,984
- Trade debts -€7,056
down €7,056 (-33.2%), from €21,262 to €14,206
- Profit (loss) carried forward +€5,276
up €5,276 (+11.5%), from €45,968 to €51,244
- Other debts +€1,899
up €1,899 (+7.3%), from €25,867 to €27,766
- Debts after one year -€1,683
no longer reported in 2025 (was €1,683)
- Staff costs +€45,109
up €45,109 (+118%), from €38,346 to €83,455
- Gross operating margin +€44,154
up €44,154 (+97.4%), from €45,313 to €89,467
- Other operating charges -€1,133
down €1,133 (-73.0%), from €1,552 to €419
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 | €115,049 | €113,485 | -€1,564 | -1.4% |
| Fixed assets | 21/28 | €39,990 | €42,974 | +€2,984 | +7.5% |
| Tangible fixed assets | 22/27 | €39,990 | €42,974 | +€2,984 | +7.5% |
| Plant, machinery and equipment | 23 | €13,290 | €16,274 | +€2,984 | +22.5% |
| Furniture and vehicles | 24 | €26,700 | €26,700 | = | 0.0% |
| Current assets | 29/58 | €75,059 | €70,511 | -€4,548 | -6.1% |
| Amounts receivable within one year | 40/41 | €74,393 | €69,845 | -€4,548 | -6.1% |
| Trade receivables | 40 | €58,906 | €42,755 | -€16,151 | -27.4% |
| Other amounts receivable | 41 | €15,487 | €27,090 | +€11,603 | +74.9% |
| Cash at bank and in hand | 54/58 | €666 | €666 | = | 0.0% |
| Total equity and liabilities | 10/49 | €115,049 | €113,485 | -€1,564 | -1.4% |
| Equity | 10/15 | €50,968 | €56,244 | +€5,276 | +10.4% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €45,968 | €51,244 | +€5,276 | +11.5% |
| Amounts payable | 17/49 | €64,081 | €57,241 | -€6,840 | -10.7% |
| Amounts payable after more than one year | 17 | €1,683 | - | -€1,683 | |
| Financial debts | 170/4 | €1,683 | - | -€1,683 | |
| Amounts payable within one year | 42/48 | €62,398 | €57,241 | -€5,157 | -8.3% |
| Current portion of amounts payable after more than one year | 42 | €9,669 | €9,669 | = | 0.0% |
| Financial debts | 43 | €5,600 | €5,600 | = | 0.0% |
| Credit institutions | 430/8 | €5,600 | €5,600 | = | 0.0% |
| Trade debts | 44 | €21,262 | €14,206 | -€7,056 | -33.2% |
| Suppliers | 440/4 | €21,262 | €14,206 | -€7,056 | -33.2% |
| Other amounts payable | 47/48 | €25,867 | €27,766 | +€1,899 | +7.3% |
| Remuneration, social security and pensions | 62 | €38,346 | €83,455 | +€45,109 | +118% |
| Other operating charges | 640/8 | €1,552 | €419 | -€1,133 | -73.0% |
| Gross operating margin | 9900 | €45,313 | €89,467 | +€44,154 | +97.4% |
| Operating profit (loss) | 9901 | €5,415 | €5,593 | +€178 | +3.3% |
| Financial charges | 65/66B | €258 | €317 | +€59 | +22.9% |
| Recurring financial charges | 65 | €258 | €317 | +€59 | +22.9% |
| Profit (loss) for the period before taxes | 9903 | €5,157 | €5,276 | +€119 | +2.3% |
| Profit (loss) for the period | 9904 | €5,157 | €5,276 | +€119 | +2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €5,157 | €5,276 | +€119 | +2.3% |
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 27 October 2026 via checked.be.