DEMOCONSTRUCT: 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.
DEMOCONSTRUCT
Largest movements
- Deferred charges and accrued income +€86,311
up €86,311 (+66.2%), from €130,373 to €216,685
- Current investments -€50,000
down €50,000 (-100.0%), from €50,000 to €0
- Cash +€38,076
up €38,076 (+38.3%), from €99,319 to €137,395
mainly Other debts (+€224,011) and Net result for the year (+€69,980)
- Receivables within one year +€36,515
up €36,515 (+60.7%), from €60,170 to €96,685
of which Trade receivables: +€79,421
- Tangible fixed assets -€23,868
down €23,868 (-5.8%), from €411,186 to €387,317
of which Land and buildings: -€15,989
- Other debts +€224,011
new in 2025: €224,011
- Trade debts -€46,134
down €46,134 (-72.0%), from €64,116 to €17,981
- Reserves -€45,520
down €45,520 (-9.2%), from €496,254 to €450,734
of which Distributable reserves: -€45,520
- Debts after one year -€31,667
down €31,667 (-26.7%), from €118,750 to €87,083
- Tax, wage and social debts -€15,535
down €15,535 (-81.7%), from €19,013 to €3,478
of which Taxes: -€13,933
- Staff costs +€6,590
up €6,590 (+6.3%), from €104,503 to €111,093
- Gross operating margin +€6,198
up €6,198 (+2.5%), from €252,012 to €258,211
- Financial income -€3,473
down €3,473 (-81.4%), from €4,264 to €791
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 | €761,048 | €838,082 | +€77,034 | +10.1% |
| Fixed assets | 21/28 | €411,186 | €387,317 | -€23,868 | -5.8% |
| Tangible fixed assets | 22/27 | €411,186 | €387,317 | -€23,868 | -5.8% |
| Land and buildings | 22 | €368,921 | €352,932 | -€15,989 | -4.3% |
| Plant, machinery and equipment | 23 | €20,220 | €13,090 | -€7,131 | -35.3% |
| Furniture and vehicles | 24 | €22,045 | €21,296 | -€749 | -3.4% |
| Current assets | 29/58 | €349,862 | €450,764 | +€100,902 | +28.8% |
| Stocks and contracts in progress | 3 | €10,000 | €0 | -€10,000 | -100.0% |
| Stocks | 30/36 | €10,000 | €0 | -€10,000 | -100.0% |
| Amounts receivable within one year | 40/41 | €60,170 | €96,685 | +€36,515 | +60.7% |
| Trade receivables | 40 | €8,056 | €87,477 | +€79,421 | +985.8% |
| Other amounts receivable | 41 | €52,113 | €9,208 | -€42,906 | -82.3% |
| Current investments | 50/53 | €50,000 | €0 | -€50,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €99,319 | €137,395 | +€38,076 | +38.3% |
| Deferred charges and accrued income | 490/1 | €130,373 | €216,685 | +€86,311 | +66.2% |
| Total equity and liabilities | 10/49 | €761,048 | €838,082 | +€77,034 | +10.1% |
| Equity | 10/15 | €514,854 | €469,334 | -€45,520 | -8.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €496,254 | €450,734 | -€45,520 | -9.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €494,394 | €448,874 | -€45,520 | -9.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €246,194 | €368,748 | +€122,554 | +49.8% |
| Amounts payable after more than one year | 17 | €118,750 | €87,083 | -€31,667 | -26.7% |
| Financial debts | 170/4 | €118,750 | €87,083 | -€31,667 | -26.7% |
| Amounts payable within one year | 42/48 | €114,795 | €277,138 | +€162,342 | +141.4% |
| Current portion of amounts payable after more than one year | 42 | €31,667 | €31,667 | = | 0.0% |
| Trade debts | 44 | €64,116 | €17,981 | -€46,134 | -72.0% |
| Suppliers | 440/4 | €64,116 | €17,981 | -€46,134 | -72.0% |
| Taxes, remuneration and social security | 45 | €19,013 | €3,478 | -€15,535 | -81.7% |
| Taxes | 450/3 | €13,933 | €0 | -€13,933 | -100.0% |
| Remuneration and social security | 454/9 | €5,080 | €3,478 | -€1,602 | -31.5% |
| Other amounts payable | 47/48 | - | €224,011 | +€224,011 | |
| Accrued charges and deferred income | 492/3 | €12,649 | €4,527 | -€8,122 | -64.2% |
| Remuneration, social security and pensions | 62 | €104,503 | €111,093 | +€6,590 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,337 | €32,466 | +€2,129 | +7.0% |
| Other operating charges | 640/8 | €5,856 | €5,614 | -€242 | -4.1% |
| Gross operating margin | 9900 | €252,012 | €258,211 | +€6,198 | +2.5% |
| Operating profit (loss) | 9901 | €111,317 | €109,038 | -€2,279 | -2.0% |
| Financial income | 75/76B | €4,264 | €791 | -€3,473 | -81.4% |
| Recurring financial income | 75 | €4,264 | €791 | -€3,473 | -81.4% |
| Financial charges | 65/66B | €10,317 | €10,379 | +€62 | +0.6% |
| Recurring financial charges | 65 | €10,317 | €10,379 | +€62 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | €105,265 | €99,451 | -€5,814 | -5.5% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €31,250 | €29,471 | -€1,779 | -5.7% |
| Profit (loss) for the period | 9904 | €74,015 | €69,980 | -€4,035 | -5.5% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €74,015 | €69,980 | -€4,035 | -5.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.