DEMOCRAT: 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.
DEMOCRAT
Largest movements
- Receivables within one year -€20,000
down €20,000 (-100%), from €20,000 to €0
- Cash -€9,348
down €9,348 (-35.0%), from €26,730 to €17,382
mainly Other debts (-€22,850) and Net result for the year (-€6,098)
- Tangible fixed assets -€1,970
down €1,970 (-4.5%), from €43,737 to €41,767
of which Land and buildings: -€1,290
- Other debts -€22,850
down €22,850 (-81.1%), from €28,163 to €5,313
- Profit (loss) carried forward -€6,098
down €6,098 (-277%), from -€2,203 to -€8,301
- Tax, wage and social debts -€1,340
down €1,340 (-32.7%), from €4,099 to €2,759
- Trade debts -€1,030
down €1,030 (-60.5%), from €1,703 to €672
- Gross operating margin -€16,730
down €16,730, from €14,850 to -€1,879
- Taxes -€2,758
down €2,758 (-99.2%), from €2,780 to €23
- Other operating charges -€438
down €438 (-16.9%), from €2,599 to €2,161
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 | €90,522 | €59,204 | -€31,318 | -34.6% |
| Fixed assets | 21/28 | €43,737 | €41,767 | -€1,970 | -4.5% |
| Tangible fixed assets | 22/27 | €43,737 | €41,767 | -€1,970 | -4.5% |
| Land and buildings | 22 | €39,149 | €37,860 | -€1,290 | -3.3% |
| Plant, machinery and equipment | 23 | €4,588 | €3,908 | -€681 | -14.8% |
| Current assets | 29/58 | €46,785 | €17,437 | -€29,348 | -62.7% |
| Amounts receivable within one year | 40/41 | €20,000 | €0 | -€20,000 | -100% |
| Other amounts receivable | 41 | €20,000 | €0 | -€20,000 | -100% |
| Cash at bank and in hand | 54/58 | €26,730 | €17,382 | -€9,348 | -35.0% |
| Deferred charges and accrued income | 490/1 | €55 | €55 | = | 0.0% |
| Total equity and liabilities | 10/49 | €90,522 | €59,204 | -€31,318 | -34.6% |
| Equity | 10/15 | €56,557 | €50,459 | -€6,098 | -10.8% |
| Contributions | 10/11 | €37,184 | €37,184 | = | 0.0% |
| Reserves | 13 | €21,576 | €21,576 | = | 0.0% |
| Distributable reserves | 133 | €21,576 | €21,576 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,203 | -€8,301 | -€6,098 | -277% |
| Amounts payable | 17/49 | €33,965 | €8,745 | -€25,220 | -74.3% |
| Amounts payable within one year | 42/48 | €33,965 | €8,745 | -€25,220 | -74.3% |
| Trade debts | 44 | €1,703 | €672 | -€1,030 | -60.5% |
| Suppliers | 440/4 | €1,703 | €672 | -€1,030 | -60.5% |
| Taxes, remuneration and social security | 45 | €4,099 | €2,759 | -€1,340 | -32.7% |
| Taxes | 450/3 | €4,099 | €2,759 | -€1,340 | -32.7% |
| Other amounts payable | 47/48 | €28,163 | €5,313 | -€22,850 | -81.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,970 | €1,970 | = | 0.0% |
| Other operating charges | 640/8 | €2,599 | €2,161 | -€438 | -16.9% |
| Gross operating margin | 9900 | €14,850 | -€1,879 | -€16,730 | |
| Operating profit (loss) | 9901 | €10,281 | -€6,011 | -€16,292 | |
| Financial income | 75/76B | €70 | €75 | +€5 | +7.4% |
| Recurring financial income | 75 | €70 | €75 | +€5 | +7.4% |
| Financial charges | 65/66B | €142 | €140 | -€2 | -1.3% |
| Recurring financial charges | 65 | €142 | €140 | -€2 | -1.3% |
| Profit (loss) for the period before taxes | 9903 | €10,209 | -€6,075 | -€16,285 | |
| Income taxes | 67/77 | €2,780 | €23 | -€2,758 | -99.2% |
| Profit (loss) for the period | 9904 | €7,429 | -€6,098 | -€13,527 | |
| Profit (loss) for the period to be appropriated | 9905 | €7,429 | -€6,098 | -€13,527 |
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 14 October 2026 via checked.be.