DEMPHY: 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.
DEMPHY
Largest movements
- Tangible fixed assets +€29,377
up €29,377 (+353%), from €8,317 to €37,694
of which Furniture and vehicles: +€29,048
- Cash -€8,639
down €8,639 (-58.7%), from €14,712 to €6,073
mainly Investment in fixed assets (net) (-€42,643) and Net result for the year (-€6,507)
- Receivables within one year +€1,319
up €1,319 (+18.6%), from €7,090 to €8,408
- Debts after one year +€25,143
up €25,143 (+251%), from €10,000 to €35,143
of which Financial debts: +€20,143
- Profit (loss) carried forward -€6,507
down €6,507, from €975 to -€5,532
- Current portion of long-term debt +€5,245
new in 2025: €5,245
- Tax, wage and social debts -€2,482
down €2,482 (-91.5%), from €2,713 to €231
- Depreciation +€10,697
up €10,697 (+416%), from €2,569 to €13,266
- Gross operating margin -€2,320
down €2,320 (-21.8%), from €10,629 to €8,310
- Taxes -€765
down €765 (-97.5%), from €785 to €20
- Financial charges -€692
down €692 (-38.8%), from €1,784 to €1,092
- Other operating charges -€559
down €559 (-68.7%), from €814 to €255
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 | €30,879 | €52,799 | +€21,920 | +71.0% |
| Fixed assets | 21/28 | €8,317 | €37,694 | +€29,377 | +353% |
| Tangible fixed assets | 22/27 | €8,317 | €37,694 | +€29,377 | +353% |
| Plant, machinery and equipment | 23 | €1,454 | €1,783 | +€329 | +22.6% |
| Furniture and vehicles | 24 | €6,862 | €35,911 | +€29,048 | +423% |
| Current assets | 29/58 | €22,562 | €15,105 | -€7,457 | -33.1% |
| Amounts receivable within one year | 40/41 | €7,090 | €8,408 | +€1,319 | +18.6% |
| Trade receivables | 40 | €7,090 | €8,408 | +€1,319 | +18.6% |
| Cash at bank and in hand | 54/58 | €14,712 | €6,073 | -€8,639 | -58.7% |
| Deferred charges and accrued income | 490/1 | €760 | €624 | -€137 | -18.0% |
| Total equity and liabilities | 10/49 | €30,879 | €52,799 | +€21,920 | +71.0% |
| Equity | 10/15 | €7,425 | €918 | -€6,507 | -87.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €250 | €250 | = | 0.0% |
| Non-distributable reserves | 130/1 | €250 | €250 | = | 0.0% |
| Legal reserve | 130 | €250 | €250 | = | 0.0% |
| Profit (loss) carried forward | 14 | €975 | -€5,532 | -€6,507 | |
| Amounts payable | 17/49 | €23,454 | €51,881 | +€28,427 | +121% |
| Amounts payable after more than one year | 17 | €10,000 | €35,143 | +€25,143 | +251% |
| Financial debts | 170/4 | - | €20,143 | +€20,143 | |
| Other amounts payable | 178/9 | €10,000 | €15,000 | +€5,000 | +50.0% |
| Amounts payable within one year | 42/48 | €13,454 | €16,738 | +€3,284 | +24.4% |
| Current portion of amounts payable after more than one year | 42 | - | €5,245 | +€5,245 | |
| Trade debts | 44 | €443 | €675 | +€232 | +52.3% |
| Suppliers | 440/4 | €443 | €675 | +€232 | +52.3% |
| Taxes, remuneration and social security | 45 | €2,713 | €231 | -€2,482 | -91.5% |
| Taxes | 450/3 | €2,713 | €231 | -€2,482 | -91.5% |
| Other amounts payable | 47/48 | €10,298 | €10,587 | +€289 | +2.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,569 | €13,266 | +€10,697 | +416% |
| Other operating charges | 640/8 | €814 | €255 | -€559 | -68.7% |
| Non-recurring operating charges | 66A | €129 | €184 | +€55 | +42.9% |
| Gross operating margin | 9900 | €10,629 | €8,310 | -€2,320 | -21.8% |
| Operating profit (loss) | 9901 | €7,117 | -€5,396 | -€12,513 | |
| Financial charges | 65/66B | €1,784 | €1,092 | -€692 | -38.8% |
| Recurring financial charges | 65 | €1,784 | €1,092 | -€692 | -38.8% |
| Profit (loss) for the period before taxes | 9903 | €5,334 | -€6,487 | -€11,821 | |
| Income taxes | 67/77 | €785 | €20 | -€765 | -97.5% |
| Profit (loss) for the period | 9904 | €4,549 | -€6,507 | -€11,056 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,549 | -€6,507 | -€11,056 |
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 14 October 2026 via checked.be.