DEMO-SPEL: what changed
DEMO-SPEL
Largest movements
- Receivables within one year -€47,702
down €47,702 (-93.0%), from €51,272 to €3,570
of which Trade receivables: -€41,382
- Stocks and contracts +€10,121
up €10,121 (+14.2%), from €71,225 to €81,346
- Cash +€6,591
up €6,591 (+104%), from €6,362 to €12,953
mainly Receivables within one year (+€47,702) and Tax, wage and social debts (+€20,404)
- Tangible fixed assets -€4,098
down €4,098 (-11.2%), from €36,691 to €32,593
of which Land and buildings: -€2,193
- Deferred charges and accrued income +€3,486
up €3,486 (+70.0%), from €4,979 to €8,465
- Advances received -€42,035
down €42,035 (-56.0%), from €75,100 to €33,064
- Tax, wage and social debts +€20,404
up €20,404 (+311%), from €6,557 to €26,961
of which Taxes: +€13,178
- Current portion of long-term debt -€16,774
down €16,774 (-57.4%), from €29,220 to €12,446
- Debts after one year -€11,662
down €11,662 (-82.0%), from €14,225 to €2,563
- Profit (loss) carried forward +€10,367
up €10,367, from -€9,325 to €1,041
- Staff costs -€38,308
down €38,308 (-32.8%), from €116,948 to €78,640
- Gross operating margin +€11,938
up €11,938 (+13.9%), from €85,593 to €97,531
- Depreciation -€4,880
down €4,880 (-47.5%), from €10,263 to €5,383
- Financial income -€4,292
down €4,292 (-66.3%), from €6,470 to €2,178
of which Non-recurring financial income: -€3,680
- Financial charges +€2,632
up €2,632 (+103%), from €2,553 to €5,184
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €170,726 | €138,971 | -€31,755 | -18.6% |
| Fixed assets | 21/28 | €36,869 | €32,628 | -€4,241 | -11.5% |
| Intangible fixed assets | 21 | €177 | - | -€177 | |
| Tangible fixed assets | 22/27 | €36,691 | €32,593 | -€4,098 | -11.2% |
| Land and buildings | 22 | €29,972 | €27,779 | -€2,193 | -7.3% |
| Plant, machinery and equipment | 23 | €2,666 | €625 | -€2,041 | -76.5% |
| Furniture and vehicles | 24 | €4,053 | €4,188 | +€135 | +3.3% |
| Financial fixed assets | 28 | - | €35 | +€35 | |
| Current assets | 29/58 | €133,857 | €106,343 | -€27,515 | -20.6% |
| Stocks and contracts in progress | 3 | €71,225 | €81,346 | +€10,121 | +14.2% |
| Stocks | 30/36 | €71,225 | €81,346 | +€10,121 | +14.2% |
| Amounts receivable within one year | 40/41 | €51,272 | €3,570 | -€47,702 | -93.0% |
| Trade receivables | 40 | €44,898 | €3,516 | -€41,382 | -92.2% |
| Other amounts receivable | 41 | €6,373 | €54 | -€6,319 | -99.2% |
| Current investments | 50/53 | €20 | €9 | -€12 | -57.1% |
| Cash at bank and in hand | 54/58 | €6,362 | €12,953 | +€6,591 | +104% |
| Deferred charges and accrued income | 490/1 | €4,979 | €8,465 | +€3,486 | +70.0% |
| Total equity and liabilities | 10/49 | €170,726 | €138,971 | -€31,755 | -18.6% |
| Equity | 10/15 | €11,135 | €21,501 | +€10,367 | +93.1% |
| 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 | -€9,325 | €1,041 | +€10,367 | |
| Amounts payable | 17/49 | €159,591 | €117,469 | -€42,122 | -26.4% |
| Amounts payable after more than one year | 17 | €14,225 | €2,563 | -€11,662 | -82.0% |
| Financial debts | 170/4 | €14,225 | €2,563 | -€11,662 | -82.0% |
| Amounts payable within one year | 42/48 | €145,298 | €114,906 | -€30,391 | -20.9% |
| Current portion of amounts payable after more than one year | 42 | €29,220 | €12,446 | -€16,774 | -57.4% |
| Financial debts | 43 | €1,689 | €2,172 | +€483 | +28.6% |
| Credit institutions | 430/8 | €1,689 | €2,172 | +€483 | +28.6% |
| Trade debts | 44 | €18,894 | €21,195 | +€2,301 | +12.2% |
| Suppliers | 440/4 | €18,894 | €21,195 | +€2,301 | +12.2% |
| Advances received on contracts in progress | 46 | €75,100 | €33,064 | -€42,035 | -56.0% |
| Taxes, remuneration and social security | 45 | €6,557 | €26,961 | +€20,404 | +311% |
| Taxes | 450/3 | €2,623 | €15,800 | +€13,178 | +502% |
| Remuneration and social security | 454/9 | €3,934 | €11,161 | +€7,226 | +184% |
| Other amounts payable | 47/48 | €13,838 | €19,068 | +€5,230 | +37.8% |
| Accrued charges and deferred income | 492/3 | €69 | - | -€69 | |
| Remuneration, social security and pensions | 62 | €116,948 | €78,640 | -€38,308 | -32.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,263 | €5,383 | -€4,880 | -47.5% |
| Other operating charges | 640/8 | €752 | - | -€752 | |
| Gross operating margin | 9900 | €85,593 | €97,531 | +€11,938 | +13.9% |
| Operating profit (loss) | 9901 | -€42,369 | €13,508 | +€55,877 | |
| Financial income | 75/76B | €6,470 | €2,178 | -€4,292 | -66.3% |
| Recurring financial income | 75 | €2,790 | €2,178 | -€612 | -21.9% |
| Non-recurring financial income | 76B | €3,680 | - | -€3,680 | |
| Financial charges | 65/66B | €2,553 | €5,184 | +€2,632 | +103% |
| Recurring financial charges | 65 | €2,553 | €5,184 | +€2,632 | +103% |
| Profit (loss) for the period before taxes | 9903 | -€38,451 | €10,502 | +€48,953 | |
| Income taxes | 67/77 | €1,532 | €135 | -€1,397 | -91.2% |
| Profit (loss) for the period | 9904 | -€39,983 | €10,367 | +€50,350 | |
| Profit (loss) for the period to be appropriated | 9905 | -€39,983 | €10,367 | +€50,350 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.