Demostruct: 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.
Demostruct
Largest movements
- Tangible fixed assets -€29,770
down €29,770 (-6.3%), from €468,824 to €439,054
- Stocks and contracts -€15,773
no longer reported in 2025 (was €15,773)
- Other debts -€255,382
down €255,382 (-62.1%), from €411,009 to €155,627
- Reserves +€101,357
up €101,357 (+24.8%), from €408,576 to €509,933
- Debts after one year +€50,285
up €50,285 (+12.5%), from €403,609 to €453,894
- Accrued charges and deferred income +€20,666
new in 2025: €20,666
- Tax, wage and social debts +€15,226
up €15,226 (+37.8%), from €40,264 to €55,490
- Gross operating margin +€137,336
up €137,336 (+216%), from €63,729 to €201,065
- Taxes +€32,648
up €32,648 (+568%), from €5,752 to €38,400
- Financial charges +€14,750
up €14,750 (+63.7%), from €23,146 to €37,896
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
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 | €1,375,313 | €1,309,110 | -€66,203 | -4.8% |
| Fixed assets | 21/28 | €468,824 | €439,054 | -€29,770 | -6.3% |
| Tangible fixed assets | 22/27 | €468,824 | €439,054 | -€29,770 | -6.3% |
| Land and buildings | 22 | €468,824 | €439,054 | -€29,770 | -6.3% |
| Current assets | 29/58 | €906,489 | €870,056 | -€36,433 | -4.0% |
| Stocks and contracts in progress | 3 | €15,773 | - | -€15,773 | |
| Stocks | 30/36 | €15,773 | - | -€15,773 | |
| Amounts receivable within one year | 40/41 | €876,421 | €863,100 | -€13,321 | -1.5% |
| Trade receivables | 40 | €112,500 | €86,697 | -€25,803 | -22.9% |
| Other amounts receivable | 41 | €763,921 | €776,403 | +€12,482 | +1.6% |
| Cash at bank and in hand | 54/58 | €14,295 | €6,956 | -€7,339 | -51.3% |
| Total equity and liabilities | 10/49 | €1,375,313 | €1,309,110 | -€66,203 | -4.8% |
| Equity | 10/15 | €473,036 | €574,393 | +€101,357 | +21.4% |
| Contributions | 10/11 | €64,460 | €64,460 | = | 0.0% |
| Contributions outside capital | 11 | €64,460 | €64,460 | = | 0.0% |
| Other | 1109/19 | €64,460 | €64,460 | = | 0.0% |
| Reserves | 13 | €408,576 | €509,933 | +€101,357 | +24.8% |
| Distributable reserves | 133 | €408,576 | €509,933 | +€101,357 | +24.8% |
| Amounts payable | 17/49 | €902,277 | €734,717 | -€167,560 | -18.6% |
| Amounts payable after more than one year | 17 | €403,609 | €453,894 | +€50,285 | +12.5% |
| Financial debts | 170/4 | €403,609 | €453,894 | +€50,285 | +12.5% |
| Amounts payable within one year | 42/48 | €498,668 | €260,157 | -€238,511 | -47.8% |
| Current portion of amounts payable after more than one year | 42 | €26,770 | €33,019 | +€6,249 | +23.3% |
| Trade debts | 44 | €20,625 | €16,021 | -€4,604 | -22.3% |
| Suppliers | 440/4 | €20,625 | €16,021 | -€4,604 | -22.3% |
| Taxes, remuneration and social security | 45 | €40,264 | €55,490 | +€15,226 | +37.8% |
| Taxes | 450/3 | €40,264 | €55,490 | +€15,226 | +37.8% |
| Other amounts payable | 47/48 | €411,009 | €155,627 | -€255,382 | -62.1% |
| Accrued charges and deferred income | 492/3 | - | €20,666 | +€20,666 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,270 | €22,270 | = | 0.0% |
| Other operating charges | 640/8 | €1,108 | €1,143 | +€35 | +3.2% |
| Gross operating margin | 9900 | €63,729 | €201,065 | +€137,336 | +216% |
| Operating profit (loss) | 9901 | €40,351 | €177,652 | +€137,301 | +340% |
| Financial income | 75/76B | €65 | €1 | -€64 | -98.5% |
| Recurring financial income | 75 | €65 | €1 | -€64 | -98.5% |
| Financial charges | 65/66B | €23,146 | €37,896 | +€14,750 | +63.7% |
| Recurring financial charges | 65 | €23,146 | €37,896 | +€14,750 | +63.7% |
| Profit (loss) for the period before taxes | 9903 | €17,270 | €139,757 | +€122,487 | +709% |
| Income taxes | 67/77 | €5,752 | €38,400 | +€32,648 | +568% |
| Profit (loss) for the period | 9904 | €11,518 | €101,357 | +€89,839 | +780% |
| Profit (loss) for the period to be appropriated | 9905 | €11,518 | €101,357 | +€89,839 | +780% |
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 31 October 2026 via checked.be.