DEMUYNCK PASCAL: 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.
DEMUYNCK PASCAL
Largest movements
- Receivables within one year +€59,710
up €59,710 (+58.0%), from €102,936 to €162,646
of which Trade receivables: +€58,317
- Cash -€12,903
down €12,903 (-94.7%), from €13,620 to €716
mainly Receivables within one year (-€59,710) and Tax, wage and social debts (-€21,291)
- Deferred charges and accrued income +€6,811
new in 2025: €6,811
- Tangible fixed assets +€3,928
up €3,928 (+750%), from €524 to €4,451
- Trade debts +€35,198
up €35,198 (+1,524%), from €2,310 to €37,507
- Other debts +€28,545
up €28,545 (+46.1%), from €61,957 to €90,502
- Tax, wage and social debts -€21,291
down €21,291 (-35.7%), from €59,669 to €38,378
of which Taxes: -€21,292
- Reserves +€19,711
up €19,711 (+29.1%), from €67,797 to €87,508
- Current portion of long-term debt -€4,617
down €4,617 (-87.3%), from €5,287 to €670
- Taxes -€2,854
down €2,854 (-34.4%), from €8,293 to €5,439
- Gross operating margin +€2,206
up €2,206 (+8.8%), from €25,020 to €27,226
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 | €203,220 | €260,765 | +€57,546 | +28.3% |
| Fixed assets | 21/28 | €86,664 | €90,592 | +€3,928 | +4.5% |
| Tangible fixed assets | 22/27 | €524 | €4,451 | +€3,928 | +750% |
| Furniture and vehicles | 24 | €524 | €4,451 | +€3,928 | +750% |
| Financial fixed assets | 28 | €86,140 | €86,140 | = | 0.0% |
| Current assets | 29/58 | €116,556 | €170,174 | +€53,618 | +46.0% |
| Amounts receivable within one year | 40/41 | €102,936 | €162,646 | +€59,710 | +58.0% |
| Trade receivables | 40 | €96,264 | €154,581 | +€58,317 | +60.6% |
| Other amounts receivable | 41 | €6,673 | €8,065 | +€1,393 | +20.9% |
| Cash at bank and in hand | 54/58 | €13,620 | €716 | -€12,903 | -94.7% |
| Deferred charges and accrued income | 490/1 | - | €6,811 | +€6,811 | |
| Total equity and liabilities | 10/49 | €203,220 | €260,765 | +€57,546 | +28.3% |
| Equity | 10/15 | €73,997 | €93,708 | +€19,711 | +26.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €67,797 | €87,508 | +€19,711 | +29.1% |
| Distributable reserves | 133 | €67,797 | €87,508 | +€19,711 | +29.1% |
| Amounts payable | 17/49 | €129,222 | €167,057 | +€37,835 | +29.3% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €129,222 | €167,057 | +€37,835 | +29.3% |
| Current portion of amounts payable after more than one year | 42 | €5,287 | €670 | -€4,617 | -87.3% |
| Trade debts | 44 | €2,310 | €37,507 | +€35,198 | +1,524% |
| Suppliers | 440/4 | €2,310 | €37,507 | +€35,198 | +1,524% |
| Taxes, remuneration and social security | 45 | €59,669 | €38,378 | -€21,291 | -35.7% |
| Taxes | 450/3 | €24,898 | €3,606 | -€21,292 | -85.5% |
| Remuneration and social security | 454/9 | €34,771 | €34,773 | +€2 | 0.0% |
| Other amounts payable | 47/48 | €61,957 | €90,502 | +€28,545 | +46.1% |
| Non-recurring operating income | 76A | - | €85 | +€85 | |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €887 | €922 | +€35 | +4.0% |
| Other operating charges | 640/8 | €800 | €769 | -€31 | -3.9% |
| Non-recurring operating charges | 66A | - | €148 | +€148 | |
| Gross operating margin | 9900 | €25,020 | €27,226 | +€2,206 | +8.8% |
| Operating profit (loss) | 9901 | €23,332 | €25,386 | +€2,054 | +8.8% |
| Financial charges | 65/66B | €401 | €236 | -€165 | -41.1% |
| Recurring financial charges | 65 | €401 | €236 | -€165 | -41.1% |
| Profit (loss) for the period before taxes | 9903 | €22,931 | €25,150 | +€2,219 | +9.7% |
| Income taxes | 67/77 | €8,293 | €5,439 | -€2,854 | -34.4% |
| Profit (loss) for the period | 9904 | €14,639 | €19,711 | +€5,073 | +34.7% |
| Profit (loss) for the period to be appropriated | 9905 | €14,639 | €19,711 | +€5,073 | +34.7% |
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 29 October 2026 via checked.be.