DEMUSA: 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.
DEMUSA
Largest movements
- Cash +€287,054
up €287,054 (+57.8%), from €496,966 to €784,020
mainly Other debts (+€106,610) and Net result for the year (+€102,342)
- Receivables within one year -€53,403
down €53,403 (-61.7%), from €86,500 to €33,097
- Other debts +€106,610
up €106,610 (+107%), from €99,173 to €205,782
- Profit (loss) carried forward +€52,342
up €52,342 (+69.0%), from €75,889 to €128,231
- Reserves +€50,000
up €50,000 (+22.3%), from €224,714 to €274,714
of which Distributable reserves: +€50,000
- Trade debts +€39,303
up €39,303 (+82.3%), from €47,761 to €87,064
- Tax, wage and social debts -€17,514
down €17,514 (-31.3%), from €56,027 to €38,513
of which Taxes: -€12,999
- Gross operating margin -€35,881
down €35,881 (-26.5%), from €135,313 to €99,433
- Taxes -€10,836
down €10,836 (-31.3%), from €34,674 to €23,838
- Financial income +€4,704
up €4,704 (+14.5%), from €32,498 to €37,203
- Financial charges +€2,963
up €2,963 (+42.6%), from €6,948 to €9,910
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 | €604,103 | €837,754 | +€233,651 | +38.7% |
| Fixed assets | 21/28 | €19,865 | €19,865 | = | 0.0% |
| Financial fixed assets | 28 | €19,865 | €19,865 | = | 0.0% |
| Current assets | 29/58 | €584,238 | €817,889 | +€233,651 | +40.0% |
| Amounts receivable within one year | 40/41 | €86,500 | €33,097 | -€53,403 | -61.7% |
| Trade receivables | 40 | €86,500 | €33,097 | -€53,403 | -61.7% |
| Cash at bank and in hand | 54/58 | €496,966 | €784,020 | +€287,054 | +57.8% |
| Deferred charges and accrued income | 490/1 | €773 | €773 | = | 0.0% |
| Total equity and liabilities | 10/49 | €604,103 | €837,754 | +€233,651 | +38.7% |
| Equity | 10/15 | €300,803 | €403,144 | +€102,342 | +34.0% |
| Contributions | 10/11 | €200 | €200 | = | 0.0% |
| Contributions outside capital | 11 | €200 | €200 | = | 0.0% |
| Other | 1109/19 | €200 | €200 | = | 0.0% |
| Reserves | 13 | €224,714 | €274,714 | +€50,000 | +22.3% |
| Non-distributable reserves | 130/1 | €20 | €20 | = | 0.0% |
| Reserves not available under the articles | 1311 | €20 | €20 | = | 0.0% |
| Distributable reserves | 133 | €224,694 | €274,694 | +€50,000 | +22.3% |
| Profit (loss) carried forward | 14 | €75,889 | €128,231 | +€52,342 | +69.0% |
| Amounts payable | 17/49 | €303,300 | €434,609 | +€131,309 | +43.3% |
| Amounts payable after more than one year | 17 | €16,354 | - | -€16,354 | |
| Financial debts | 170/4 | €16,354 | - | -€16,354 | |
| Amounts payable within one year | 42/48 | €208,946 | €341,513 | +€132,567 | +63.4% |
| Current portion of amounts payable after more than one year | 42 | €5,986 | €10,153 | +€4,168 | +69.6% |
| Trade debts | 44 | €47,761 | €87,064 | +€39,303 | +82.3% |
| Suppliers | 440/4 | €47,761 | €87,064 | +€39,303 | +82.3% |
| Taxes, remuneration and social security | 45 | €56,027 | €38,513 | -€17,514 | -31.3% |
| Taxes | 450/3 | €42,512 | €29,513 | -€12,999 | -30.6% |
| Remuneration and social security | 454/9 | €13,515 | €9,000 | -€4,515 | -33.4% |
| Other amounts payable | 47/48 | €99,173 | €205,782 | +€106,610 | +107% |
| Accrued charges and deferred income | 492/3 | €78,000 | €93,097 | +€15,097 | +19.4% |
| Other operating charges | 640/8 | €389 | €546 | +€156 | +40.1% |
| Gross operating margin | 9900 | €135,313 | €99,433 | -€35,881 | -26.5% |
| Operating profit (loss) | 9901 | €134,924 | €98,887 | -€36,037 | -26.7% |
| Financial income | 75/76B | €32,498 | €37,203 | +€4,704 | +14.5% |
| Recurring financial income | 75 | €32,498 | €37,203 | +€4,704 | +14.5% |
| Financial charges | 65/66B | €6,948 | €9,910 | +€2,963 | +42.6% |
| Recurring financial charges | 65 | €6,948 | €9,910 | +€2,963 | +42.6% |
| Profit (loss) for the period before taxes | 9903 | €160,475 | €126,179 | -€34,295 | -21.4% |
| Income taxes | 67/77 | €34,674 | €23,838 | -€10,836 | -31.3% |
| Profit (loss) for the period | 9904 | €125,800 | €102,342 | -€23,459 | -18.6% |
| Profit (loss) for the period to be appropriated | 9905 | €125,800 | €102,342 | -€23,459 | -18.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.