DEMOCRITUS: 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.
DEMOCRITUS
Largest movements
- Current investments +€24,538
up €24,538 (+15.4%), from €159,000 to €183,538
- Tangible fixed assets -€11,257
down €11,257 (-22.8%), from €49,305 to €38,047
of which Furniture and vehicles: -€10,692
- Receivables within one year +€6,957
up €6,957 (+15.6%), from €44,650 to €51,607
of which Other amounts receivable: +€5,777
- Reserves +€15,813
up €15,813 (+6.4%), from €245,621 to €261,434
- Other debts +€9,855
up €9,855 (+24.2%), from €40,659 to €50,513
- Gross operating margin +€18,841
up €18,841 (+22.9%), from €82,377 to €101,218
- Taxes +€5,139
up €5,139 (+23.1%), from €22,227 to €27,366
- Depreciation +€4,275
up €4,275 (+61.2%), from €6,983 to €11,257
- Financial income +€1,724
up €1,724 (+127.0%), from €1,358 to €3,082
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 | €298,463 | €320,482 | +€22,019 | +7.4% |
| Fixed assets | 21/28 | €49,305 | €38,047 | -€11,257 | -22.8% |
| Tangible fixed assets | 22/27 | €49,305 | €38,047 | -€11,257 | -22.8% |
| Plant, machinery and equipment | 23 | €2,405 | €1,840 | -€565 | -23.5% |
| Furniture and vehicles | 24 | €46,899 | €36,207 | -€10,692 | -22.8% |
| Current assets | 29/58 | €249,158 | €282,435 | +€33,277 | +13.4% |
| Amounts receivable within one year | 40/41 | €44,650 | €51,607 | +€6,957 | +15.6% |
| Trade receivables | 40 | €44,468 | €45,647 | +€1,180 | +2.7% |
| Other amounts receivable | 41 | €183 | €5,960 | +€5,777 | +3161.3% |
| Current investments | 50/53 | €159,000 | €183,538 | +€24,538 | +15.4% |
| Cash at bank and in hand | 54/58 | €43,667 | €45,355 | +€1,688 | +3.9% |
| Deferred charges and accrued income | 490/1 | €1,841 | €1,934 | +€94 | +5.1% |
| Total equity and liabilities | 10/49 | €298,463 | €320,482 | +€22,019 | +7.4% |
| Equity | 10/15 | €252,041 | €267,854 | +€15,813 | +6.3% |
| Contributions | 10/11 | €6,420 | €6,420 | = | 0.0% |
| Reserves | 13 | €245,621 | €261,434 | +€15,813 | +6.4% |
| Distributable reserves | 133 | €245,621 | €261,434 | +€15,813 | +6.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €46,421 | €52,628 | +€6,206 | +13.4% |
| Amounts payable within one year | 42/48 | €46,421 | €52,628 | +€6,206 | +13.4% |
| Financial debts | 43 | €211 | €247 | +€36 | +17.1% |
| Credit institutions | 430/8 | €211 | €247 | +€36 | +17.1% |
| Other loans | 439 | - | €0 | = | |
| Trade debts | 44 | €3,166 | €1,826 | -€1,340 | -42.3% |
| Suppliers | 440/4 | €3,166 | €1,826 | -€1,340 | -42.3% |
| Taxes, remuneration and social security | 45 | €2,386 | €42 | -€2,345 | -98.3% |
| Taxes | 450/3 | €2,386 | €42 | -€2,345 | -98.3% |
| Other amounts payable | 47/48 | €40,659 | €50,513 | +€9,855 | +24.2% |
| Non-recurring operating income | 76A | €674 | €0 | -€674 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,983 | €11,257 | +€4,275 | +61.2% |
| Other operating charges | 640/8 | €535 | €620 | +€85 | +15.9% |
| Gross operating margin | 9900 | €82,377 | €101,218 | +€18,841 | +22.9% |
| Operating profit (loss) | 9901 | €74,859 | €89,340 | +€14,481 | +19.3% |
| Financial income | 75/76B | €1,358 | €3,082 | +€1,724 | +127.0% |
| Recurring financial income | 75 | €1,358 | €3,082 | +€1,724 | +127.0% |
| Financial charges | 65/66B | €187 | €176 | -€12 | -6.2% |
| Recurring financial charges | 65 | €187 | €176 | -€12 | -6.2% |
| Profit (loss) for the period before taxes | 9903 | €76,029 | €92,246 | +€16,217 | +21.3% |
| Income taxes | 67/77 | €22,227 | €27,366 | +€5,139 | +23.1% |
| Profit (loss) for the period | 9904 | €53,802 | €64,880 | +€11,078 | +20.6% |
| Profit (loss) for the period to be appropriated | 9905 | €53,802 | €64,880 | +€11,078 | +20.6% |
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 11 October 2026 via checked.be.