DEMOFORM: what changed
DEMOFORM
Largest movements
- Stocks and contracts +€44,580
up €44,580 (+63.7%), from €70,000 to €114,580
of which Contracts in progress: +€44,580
- Receivables within one year -€37,274
down €37,274 (-52.2%), from €71,356 to €34,082
of which Trade receivables: -€49,316
- Tangible fixed assets -€23,077
down €23,077 (-33.1%), from €69,773 to €46,697
of which Furniture and vehicles: -€19,512
- Short-term financial debts -€20,985
down €20,985 (-69.1%), from €30,363 to €9,377
- Current portion of long-term debt -€13,874
down €13,874 (-58.5%), from €23,705 to €9,832
- Debts after one year +€11,899
up €11,899 (+690%), from €1,725 to €13,624
- Trade debts +€8,742
up €8,742 (+21.1%), from €41,337 to €50,079
- Gross operating margin -€28,261
down €28,261 (-14.2%), from €198,671 to €170,410
- Depreciation -€9,856
down €9,856 (-46.9%), from €21,031 to €11,175
- Financial income +€3,804
up €3,804 (+3,126%), from €122 to €3,926
- Staff costs +€3,423
up €3,423 (+2.3%), from €151,335 to €154,758
- Taxes -€2,612
down €2,612 (-72.0%), from €3,629 to €1,017
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
Cash or the result is not a separate line in both sets of accounts. So the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €216,664 | €202,255 | -€14,408 | -6.7% |
| Fixed assets | 21/28 | €69,773 | €46,697 | -€23,077 | -33.1% |
| Tangible fixed assets | 22/27 | €69,773 | €46,697 | -€23,077 | -33.1% |
| Land and buildings | 22 | €37,893 | €37,893 | = | 0.0% |
| Plant, machinery and equipment | 23 | €5,185 | €1,621 | -€3,565 | -68.7% |
| Furniture and vehicles | 24 | €26,695 | €7,183 | -€19,512 | -73.1% |
| Current assets | 29/58 | €146,890 | €155,559 | +€8,668 | +5.9% |
| Stocks and contracts in progress | 3 | €70,000 | €114,580 | +€44,580 | +63.7% |
| Stocks | 30/36 | €50,000 | €50,000 | = | 0.0% |
| Contracts in progress | 37 | €20,000 | €64,580 | +€44,580 | +223% |
| Amounts receivable within one year | 40/41 | €71,356 | €34,082 | -€37,274 | -52.2% |
| Trade receivables | 40 | €65,523 | €16,208 | -€49,316 | -75.3% |
| Other amounts receivable | 41 | €5,833 | €17,875 | +€12,042 | +206% |
| Deferred charges and accrued income | 490/1 | €5,534 | €6,897 | +€1,362 | +24.6% |
| Total equity and liabilities | 10/49 | €216,664 | €202,255 | -€14,408 | -6.7% |
| Equity | 10/15 | €104,304 | €102,387 | -€1,918 | -1.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €89,365 | €89,365 | = | 0.0% |
| Tax-exempt reserves | 132 | €49,500 | €49,500 | = | 0.0% |
| Distributable reserves | 133 | €39,865 | €39,865 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€3,661 | -€5,579 | -€1,918 | -52.4% |
| Amounts payable | 17/49 | €112,360 | €99,869 | -€12,491 | -11.1% |
| Amounts payable after more than one year | 17 | €1,725 | €13,624 | +€11,899 | +690% |
| Financial debts | 170/4 | €1,725 | €13,624 | +€11,899 | +690% |
| Amounts payable within one year | 42/48 | €110,635 | €86,245 | -€24,390 | -22.0% |
| Current portion of amounts payable after more than one year | 42 | €23,705 | €9,832 | -€13,874 | -58.5% |
| Financial debts | 43 | €30,363 | €9,377 | -€20,985 | -69.1% |
| Credit institutions | 430/8 | €30,363 | €9,377 | -€20,985 | -69.1% |
| Trade debts | 44 | €41,337 | €50,079 | +€8,742 | +21.1% |
| Suppliers | 440/4 | €41,337 | €50,079 | +€8,742 | +21.1% |
| Taxes, remuneration and social security | 45 | €15,230 | €16,957 | +€1,727 | +11.3% |
| Taxes | 450/3 | €5,129 | €6,937 | +€1,808 | +35.3% |
| Remuneration and social security | 454/9 | €10,101 | €10,020 | -€81 | -0.8% |
| Non-recurring operating income | 76A | €11,865 | - | -€11,865 | |
| Remuneration, social security and pensions | 62 | €151,335 | €154,758 | +€3,423 | +2.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,031 | €11,175 | -€9,856 | -46.9% |
| Other operating charges | 640/8 | €2,802 | €2,067 | -€735 | -26.2% |
| Non-recurring operating charges | 66A | - | €3,902 | +€3,902 | |
| Gross operating margin | 9900 | €198,671 | €170,410 | -€28,261 | -14.2% |
| Operating profit (loss) | 9901 | €23,503 | -€1,492 | -€24,994 | |
| Financial income | 75/76B | €122 | €3,926 | +€3,804 | +3,126% |
| Recurring financial income | 75 | €122 | €3,926 | +€3,804 | +3,126% |
| Financial charges | 65/66B | €1,991 | €3,335 | +€1,345 | +67.6% |
| Recurring financial charges | 65 | €1,991 | €3,335 | +€1,345 | +67.6% |
| Profit (loss) for the period before taxes | 9903 | €21,634 | -€901 | -€22,535 | |
| Income taxes | 67/77 | €3,629 | €1,017 | -€2,612 | -72.0% |
| Profit (loss) for the period | 9904 | €18,005 | -€1,918 | -€19,923 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,005 | -€1,918 | -€19,923 |
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 2 November 2026 via checked.be.