DEMORY Eric: what changed
Two fiscal 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.
DEMORY Eric
Largest movements
- Receivables within one year -€101,184
down €101,184 (-36.7%), from €275,394 to €174,210
of which Other amounts receivable: -€51,492
- Cash -€27,899
down €27,899 (-21.6%), from €129,341 to €101,442
mainly Other debts (-€314,018) and Trade debts (-€59,335)
- Tangible fixed assets -€12,284
down €12,284 (-19.3%), from €63,590 to €51,306
of which Other tangible fixed assets: -€7,963
- Stocks and contracts -€11,917
down €11,917 (-18.7%), from €63,792 to €51,875
- Other debts -€314,018
down €314,018 (-98.1%), from €320,000 to €5,982
- Profit (loss) carried forward +€171,688
up €171,688 (+226.0%), from €75,973 to €247,660
- Tax, wage and social debts +€63,794
up €63,794 (+328.9%), from €19,395 to €83,189
of which Taxes: +€58,328
- Trade debts -€59,335
down €59,335 (-90.9%), from €65,244 to €5,909
- Current portion of long-term debt -€10,178
down €10,178 (-57.6%), from €17,673 to €7,495
- Gross operating margin +€56,683
up €56,683 (+15.7%), from €360,246 to €416,929
- Taxes +€34,089
up €34,089 (+127.0%), from €26,831 to €60,920
- Staff costs -€9,215
down €9,215 (-5.3%), from €174,053 to €164,838
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 | €534,572 | €379,028 | -€155,544 | -29.1% |
| Fixed assets | 21/28 | €63,590 | €51,306 | -€12,284 | -19.3% |
| Tangible fixed assets | 22/27 | €63,590 | €51,306 | -€12,284 | -19.3% |
| Land and buildings | 22 | €9,995 | €7,177 | -€2,818 | -28.2% |
| Furniture and vehicles | 24 | €1,914 | €411 | -€1,503 | -78.5% |
| Other tangible fixed assets | 26 | €51,681 | €43,718 | -€7,963 | -15.4% |
| Current assets | 29/58 | €470,982 | €327,722 | -€143,260 | -30.4% |
| Stocks and contracts in progress | 3 | €63,792 | €51,875 | -€11,917 | -18.7% |
| Stocks | 30/36 | €63,792 | €51,875 | -€11,917 | -18.7% |
| Amounts receivable within one year | 40/41 | €275,394 | €174,210 | -€101,184 | -36.7% |
| Trade receivables | 40 | €93,900 | €44,207 | -€49,692 | -52.9% |
| Other amounts receivable | 41 | €181,494 | €130,003 | -€51,492 | -28.4% |
| Cash at bank and in hand | 54/58 | €129,341 | €101,442 | -€27,899 | -21.6% |
| Deferred charges and accrued income | 490/1 | €2,456 | €196 | -€2,260 | -92.0% |
| Total equity and liabilities | 10/49 | €534,572 | €379,028 | -€155,544 | -29.1% |
| Equity | 10/15 | €96,433 | €268,120 | +€171,688 | +178.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €75,973 | €247,660 | +€171,688 | +226.0% |
| Amounts payable | 17/49 | €438,140 | €110,908 | -€327,232 | -74.7% |
| Amounts payable after more than one year | 17 | €7,495 | €0 | -€7,495 | -100.0% |
| Financial debts | 170/4 | €7,495 | €0 | -€7,495 | -100.0% |
| Amounts payable within one year | 42/48 | €430,645 | €110,908 | -€319,737 | -74.2% |
| Current portion of amounts payable after more than one year | 42 | €17,673 | €7,495 | -€10,178 | -57.6% |
| Financial debts | 43 | €8,333 | €8,333 | = | 0.0% |
| Credit institutions | 430/8 | €8,333 | €8,333 | = | 0.0% |
| Trade debts | 44 | €65,244 | €5,909 | -€59,335 | -90.9% |
| Suppliers | 440/4 | €65,244 | €5,909 | -€59,335 | -90.9% |
| Taxes, remuneration and social security | 45 | €19,395 | €83,189 | +€63,794 | +328.9% |
| Taxes | 450/3 | - | €58,328 | +€58,328 | |
| Remuneration and social security | 454/9 | €19,395 | €24,860 | +€5,466 | +28.2% |
| Other amounts payable | 47/48 | €320,000 | €5,982 | -€314,018 | -98.1% |
| Remuneration, social security and pensions | 62 | €174,053 | €164,838 | -€9,215 | -5.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,262 | €12,064 | -€3,198 | -21.0% |
| Other operating charges | 640/8 | €12,412 | €13,772 | +€1,360 | +11.0% |
| Non-recurring operating charges | 66A | €43,719 | €0 | -€43,719 | -100.0% |
| Gross operating margin | 9900 | €360,246 | €416,929 | +€56,683 | +15.7% |
| Operating profit (loss) | 9901 | €114,801 | €226,256 | +€111,455 | +97.1% |
| Financial income | 75/76B | €8,026 | €10,041 | +€2,015 | +25.1% |
| Recurring financial income | 75 | €8,026 | €10,041 | +€2,015 | +25.1% |
| Financial charges | 65/66B | €2,692 | €3,689 | +€998 | +37.1% |
| Recurring financial charges | 65 | €2,692 | €1,837 | -€854 | -31.7% |
| Non-recurring financial charges | 66B | - | €1,852 | +€1,852 | |
| Profit (loss) for the period before taxes | 9903 | €120,136 | €232,608 | +€112,472 | +93.6% |
| Income taxes | 67/77 | €26,831 | €60,920 | +€34,089 | +127.0% |
| Profit (loss) for the period | 9904 | €93,304 | €171,688 | +€78,384 | +84.0% |
| Profit (loss) for the period to be appropriated | 9905 | €93,304 | €171,688 | +€78,384 | +84.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.