DEMUNSTER: 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.
DEMUNSTER
Largest movements
- Receivables within one year +€389,880
up €389,880 (+15.7%), from €2.5m to €2.9m
of which Other amounts receivable: +€296,301
- Tangible fixed assets +€358,638
up €358,638 (+19.0%), from €1.9m to €2.2m
of which Leasing and similar rights: +€401,259
- Cash -€236,380
down €236,380 (-37.1%), from €637,740 to €401,360
mainly Investment in fixed assets (net) (-€1.2m) and Receivables within one year (-€389,880)
- Receivables after one year -€91,697
down €91,697 (-100.0%), from €91,697 to €0
- Other debts -€380,000
down €380,000 (-95.0%), from €400,000 to €20,000
- Trade debts +€350,850
up €350,850 (+124.9%), from €280,884 to €631,734
- Profit (loss) carried forward +€264,336
up €264,336 (+19.7%), from €1.3m to €1.6m
- Debts after one year +€220,470
up €220,470 (+18.3%), from €1.2m to €1.4m
- Current portion of long-term debt +€85,585
up €85,585 (+18.1%), from €472,373 to €557,957
- Gross operating margin -€195,424
down €195,424 (-7.5%), from €2.6m to €2.4m
- Depreciation +€123,818
up €123,818 (+16.4%), from €755,620 to €879,438
- Staff costs +€94,474
up €94,474 (+10.2%), from €927,564 to €1.0m
- Taxes -€41,144
down €41,144 (-45.5%), from €90,337 to €49,194
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 | €5,211,599 | €5,669,679 | +€458,080 | +8.8% |
| Fixed assets | 21/28 | €1,888,237 | €2,247,140 | +€358,903 | +19.0% |
| Tangible fixed assets | 22/27 | €1,885,502 | €2,244,140 | +€358,638 | +19.0% |
| Plant, machinery and equipment | 23 | €47,468 | €41,040 | -€6,428 | -13.5% |
| Furniture and vehicles | 24 | €742,024 | €730,792 | -€11,232 | -1.5% |
| Leasing and similar rights | 25 | €1,035,689 | €1,436,947 | +€401,259 | +38.7% |
| Other tangible fixed assets | 26 | €60,321 | €35,361 | -€24,960 | -41.4% |
| Financial fixed assets | 28 | €2,735 | €3,000 | +€265 | +9.7% |
| Current assets | 29/58 | €3,323,362 | €3,422,539 | +€99,177 | +3.0% |
| Amounts receivable after more than one year | 29 | €91,697 | €0 | -€91,697 | -100.0% |
| Other amounts receivable | 291 | €91,697 | €0 | -€91,697 | -100.0% |
| Amounts receivable within one year | 40/41 | €2,481,317 | €2,871,198 | +€389,880 | +15.7% |
| Trade receivables | 40 | €667,375 | €760,954 | +€93,580 | +14.0% |
| Other amounts receivable | 41 | €1,813,942 | €2,110,243 | +€296,301 | +16.3% |
| Current investments | 50/53 | €70,088 | €103,784 | +€33,696 | +48.1% |
| Cash at bank and in hand | 54/58 | €637,740 | €401,360 | -€236,380 | -37.1% |
| Deferred charges and accrued income | 490/1 | €42,520 | €46,198 | +€3,678 | +8.6% |
| Total equity and liabilities | 10/49 | €5,211,599 | €5,669,679 | +€458,080 | +8.8% |
| Equity | 10/15 | €2,356,522 | €2,620,857 | +€264,336 | +11.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €999,333 | €999,333 | = | 0.0% |
| Tax-exempt reserves | 132 | €927,971 | €927,971 | = | 0.0% |
| Distributable reserves | 133 | €71,363 | €71,363 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,338,588 | €1,602,924 | +€264,336 | +19.7% |
| Provisions and deferred taxes | 16 | €140,000 | €140,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €140,000 | €140,000 | = | 0.0% |
| Environmental obligations | 163 | €140,000 | €140,000 | = | 0.0% |
| Amounts payable | 17/49 | €2,715,077 | €2,908,822 | +€193,744 | +7.1% |
| Amounts payable after more than one year | 17 | €1,207,094 | €1,427,564 | +€220,470 | +18.3% |
| Financial debts | 170/4 | €1,207,094 | €1,427,564 | +€220,470 | +18.3% |
| Amounts payable within one year | 42/48 | €1,507,983 | €1,481,257 | -€26,726 | -1.8% |
| Current portion of amounts payable after more than one year | 42 | €472,373 | €557,957 | +€85,585 | +18.1% |
| Financial debts | 43 | €162,124 | €118,798 | -€43,326 | -26.7% |
| Credit institutions | 430/8 | €162,124 | €118,798 | -€43,326 | -26.7% |
| Trade debts | 44 | €280,884 | €631,734 | +€350,850 | +124.9% |
| Suppliers | 440/4 | €280,884 | €631,734 | +€350,850 | +124.9% |
| Taxes, remuneration and social security | 45 | €192,603 | €152,768 | -€39,835 | -20.7% |
| Taxes | 450/3 | €82,989 | €29,851 | -€53,138 | -64.0% |
| Remuneration and social security | 454/9 | €109,614 | €122,917 | +€13,303 | +12.1% |
| Other amounts payable | 47/48 | €400,000 | €20,000 | -€380,000 | -95.0% |
| Non-recurring operating income | 76A | €61,694 | €2,000 | -€59,694 | -96.8% |
| Remuneration, social security and pensions | 62 | €927,564 | €1,022,038 | +€94,474 | +10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €755,620 | €879,438 | +€123,818 | +16.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€1,121 | -€1,121 | |
| Other operating charges | 640/8 | €121,878 | €128,652 | +€6,774 | +5.6% |
| Non-recurring operating charges | 66A | - | €8,636 | +€8,636 | |
| Gross operating margin | 9900 | €2,615,085 | €2,419,660 | -€195,424 | -7.5% |
| Operating profit (loss) | 9901 | €810,023 | €382,017 | -€428,006 | -52.8% |
| Financial income | 75/76B | €46,372 | €39,004 | -€7,368 | -15.9% |
| Recurring financial income | 75 | €46,372 | €39,004 | -€7,368 | -15.9% |
| Financial charges | 65/66B | €73,129 | €87,492 | +€14,362 | +19.6% |
| Recurring financial charges | 65 | €73,129 | €87,492 | +€14,362 | +19.6% |
| Profit (loss) for the period before taxes | 9903 | €783,265 | €333,529 | -€449,736 | -57.4% |
| Income taxes | 67/77 | €90,337 | €49,194 | -€41,144 | -45.5% |
| Profit (loss) for the period | 9904 | €692,928 | €284,336 | -€408,592 | -59.0% |
| Profit (loss) for the period to be appropriated | 9905 | €692,928 | €284,336 | -€408,592 | -59.0% |
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.