DEMOR: 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.
DEMOR
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Debts after one year -€62,704
down €62,704 (-6.5%), from €969,436 to €906,732
- Trade debts +€26,307
up €26,307 (+5,573%), from €472 to €26,779
- Gross operating margin +€35,519
up €35,519 (+93.1%), from €38,131 to €73,650
- Financial charges -€26,222
down €26,222 (-35.6%), from €73,625 to €47,403
- Depreciation +€3,074
up €3,074 (+60.7%), from €5,059 to €8,133
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,901,890 | €1,879,885 | -€22,005 | -1.2% |
| Fixed assets | 21/28 | €29,107 | €21,644 | -€7,463 | -25.6% |
| Intangible fixed assets | 21 | - | €0 | = | |
| Tangible fixed assets | 22/27 | €29,107 | €21,644 | -€7,463 | -25.6% |
| Plant, machinery and equipment | 23 | €23,502 | €17,792 | -€5,710 | -24.3% |
| Furniture and vehicles | 24 | €5,605 | €3,852 | -€1,753 | -31.3% |
| Financial fixed assets | 28 | - | €0 | = | |
| Current assets | 29/58 | €1,872,783 | €1,858,241 | -€14,542 | -0.8% |
| Stocks and contracts in progress | 3 | €1,794,882 | €1,802,219 | +€7,337 | +0.4% |
| Stocks | 30/36 | €1,794,882 | €1,802,219 | +€7,337 | +0.4% |
| Amounts receivable within one year | 40/41 | €63,766 | €55,856 | -€7,910 | -12.4% |
| Trade receivables | 40 | €63,726 | €47,240 | -€16,486 | -25.9% |
| Other amounts receivable | 41 | €40 | €8,616 | +€8,576 | +21,392% |
| Deferred charges and accrued income | 490/1 | €14,134 | €166 | -€13,968 | -98.8% |
| Total equity and liabilities | 10/49 | €1,901,890 | €1,879,885 | -€22,005 | -1.2% |
| Equity | 10/15 | €206,270 | €224,464 | +€18,194 | +8.8% |
| Contributions | 10/11 | €250 | €250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €206,020 | €224,214 | +€18,194 | +8.8% |
| Amounts payable | 17/49 | €1,695,620 | €1,655,421 | -€40,199 | -2.4% |
| Amounts payable after more than one year | 17 | €969,436 | €906,732 | -€62,704 | -6.5% |
| Financial debts | 170/4 | €969,436 | €906,732 | -€62,704 | -6.5% |
| Amounts payable within one year | 42/48 | €726,184 | €748,689 | +€22,505 | +3.1% |
| Financial debts | 43 | €28,318 | €28,718 | +€400 | +1.4% |
| Credit institutions | 430/8 | €28,318 | €28,718 | +€400 | +1.4% |
| Trade debts | 44 | €472 | €26,779 | +€26,307 | +5,573% |
| Suppliers | 440/4 | €472 | €26,779 | +€26,307 | +5,573% |
| Other amounts payable | 47/48 | €697,394 | €693,192 | -€4,202 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,059 | €8,133 | +€3,074 | +60.7% |
| Other operating charges | 640/8 | €233 | €425 | +€192 | +82.5% |
| Gross operating margin | 9900 | €38,131 | €73,650 | +€35,519 | +93.1% |
| Operating profit (loss) | 9901 | €32,839 | €65,092 | +€32,253 | +98.2% |
| Financial income | 75/76B | - | €505 | +€505 | |
| Recurring financial income | 75 | - | €505 | +€505 | |
| Financial charges | 65/66B | €73,625 | €47,403 | -€26,222 | -35.6% |
| Recurring financial charges | 65 | €73,625 | €47,403 | -€26,222 | -35.6% |
| Profit (loss) for the period before taxes | 9903 | -€40,787 | €18,194 | +€58,981 | |
| Profit (loss) for the period | 9904 | -€40,787 | €18,194 | +€58,981 | |
| Profit (loss) for the period to be appropriated | 9905 | -€40,787 | €18,194 | +€58,981 |
Source: filed annual accounts (NBB), financial years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.