DEMONTES: 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.
DEMONTES
Largest movements
- Tangible fixed assets -€646,260
down €646,260 (-30.7%), from €2.1m to €1.5m
of which Land and buildings: -€630,142
- Current investments +€599,108
up €599,108 (+214.2%), from €279,663 to €878,771
- Cash +€85,833
up €85,833 (+1544.1%), from €5,559 to €91,392
mainly Investment in fixed assets (net) (+€590,109) and Depreciation (+€56,151)
- Reserves +€49,182
up €49,182 (+2.2%), from €2.3m to €2.3m
of which Distributable reserves: +€49,182
- Other debts +€38,372
up €38,372 (+45.1%), from €85,158 to €123,530
- Tax, wage and social debts -€30,529
down €30,529 (-100.0%), from €30,529 to €0
of which Taxes: -€30,529
- Gross operating margin -€58,193
down €58,193 (-28.9%), from €201,430 to €143,237
- Financial charges +€19,366
up €19,366, from -€9,161 to €10,205
- Taxes -€17,303
down €17,303 (-39.7%), from €43,558 to €26,254
- Depreciation -€9,656
down €9,656 (-14.7%), from €65,807 to €56,151
- Financial income -€5,395
down €5,395 (-57.3%), from €9,410 to €4,015
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 | €2,402,764 | €2,458,988 | +€56,224 | +2.3% |
| Fixed assets | 21/28 | €2,107,750 | €1,461,489 | -€646,260 | -30.7% |
| Tangible fixed assets | 22/27 | €2,107,750 | €1,461,489 | -€646,260 | -30.7% |
| Land and buildings | 22 | €2,069,460 | €1,439,317 | -€630,142 | -30.4% |
| Plant, machinery and equipment | 23 | €6,017 | €8,061 | +€2,044 | +34.0% |
| Furniture and vehicles | 24 | €32,273 | €14,111 | -€18,162 | -56.3% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €295,014 | €997,499 | +€702,484 | +238.1% |
| Amounts receivable within one year | 40/41 | €8,515 | €26,241 | +€17,725 | +208.2% |
| Trade receivables | 40 | €0 | €1,290 | +€1,290 | |
| Other amounts receivable | 41 | €8,515 | €24,950 | +€16,435 | +193.0% |
| Current investments | 50/53 | €279,663 | €878,771 | +€599,108 | +214.2% |
| Cash at bank and in hand | 54/58 | €5,559 | €91,392 | +€85,833 | +1544.1% |
| Deferred charges and accrued income | 490/1 | €1,277 | €1,095 | -€182 | -14.2% |
| Total equity and liabilities | 10/49 | €2,402,764 | €2,458,988 | +€56,224 | +2.3% |
| Equity | 10/15 | €2,286,030 | €2,335,211 | +€49,182 | +2.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €2,273,630 | €2,322,811 | +€49,182 | +2.2% |
| Tax-exempt reserves | 132 | €8,100 | €8,100 | = | 0.0% |
| Distributable reserves | 133 | €2,265,530 | €2,314,711 | +€49,182 | +2.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €116,735 | €123,777 | +€7,042 | +6.0% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €116,735 | €123,777 | +€7,042 | +6.0% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €1,048 | €247 | -€801 | -76.4% |
| Suppliers | 440/4 | €1,048 | €247 | -€801 | -76.4% |
| Taxes, remuneration and social security | 45 | €30,529 | €0 | -€30,529 | -100.0% |
| Taxes | 450/3 | €30,529 | €0 | -€30,529 | -100.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €85,158 | €123,530 | +€38,372 | +45.1% |
| Non-recurring operating income | 76A | €210,030 | €144,127 | -€65,903 | -31.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €65,807 | €56,151 | -€9,656 | -14.7% |
| Other operating charges | 640/8 | €8,180 | €5,460 | -€2,720 | -33.3% |
| Gross operating margin | 9900 | €201,430 | €143,237 | -€58,193 | -28.9% |
| Operating profit (loss) | 9901 | €127,443 | €81,626 | -€45,817 | -36.0% |
| Financial income | 75/76B | €9,410 | €4,015 | -€5,395 | -57.3% |
| Recurring financial income | 75 | €9,410 | €4,015 | -€5,395 | -57.3% |
| Financial charges | 65/66B | -€9,161 | €10,205 | +€19,366 | |
| Recurring financial charges | 65 | -€9,161 | €10,205 | +€19,366 | |
| Profit (loss) for the period before taxes | 9903 | €146,014 | €75,436 | -€70,578 | -48.3% |
| Income taxes | 67/77 | €43,558 | €26,254 | -€17,303 | -39.7% |
| Profit (loss) for the period | 9904 | €102,456 | €49,182 | -€53,275 | -52.0% |
| Profit (loss) for the period to be appropriated | 9905 | €102,456 | €49,182 | -€53,275 | -52.0% |
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 9 October 2026 via checked.be.