DEMVAN: 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.
DEMVAN
Largest movements
- Receivables within one year +€139,563
up €139,563 (+20.5%), from €681,305 to €820,868
- Tangible fixed assets -€51,212
down €51,212 (-2.4%), from €2.2m to €2.1m
- Reserves +€51,730
up €51,730 (+4.4%), from €1.2m to €1.2m
- Gross operating margin -€23,383
down €23,383 (-12.2%), from €191,956 to €168,573
- Financial charges -€5,647
down €5,647 (-16.1%), from €35,091 to €29,444
- Taxes -€4,768
down €4,768 (-21.7%), from €21,995 to €17,227
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 | €3,605,321 | €3,675,390 | +€70,070 | +1.9% |
| Fixed assets | 21/28 | €2,727,677 | €2,676,465 | -€51,212 | -1.9% |
| Tangible fixed assets | 22/27 | €2,157,677 | €2,106,465 | -€51,212 | -2.4% |
| Land and buildings | 22 | €2,157,677 | €2,106,465 | -€51,212 | -2.4% |
| Financial fixed assets | 28 | €570,000 | €570,000 | = | 0.0% |
| Current assets | 29/58 | €877,644 | €998,926 | +€121,282 | +13.8% |
| Amounts receivable within one year | 40/41 | €681,305 | €820,868 | +€139,563 | +20.5% |
| Other amounts receivable | 41 | €681,305 | €820,868 | +€139,563 | +20.5% |
| Cash at bank and in hand | 54/58 | €196,309 | €178,027 | -€18,282 | -9.3% |
| Deferred charges and accrued income | 490/1 | €29 | €30 | +€1 | +4.6% |
| Total equity and liabilities | 10/49 | €3,605,321 | €3,675,390 | +€70,070 | +1.9% |
| Equity | 10/15 | €3,164,203 | €3,215,933 | +€51,730 | +1.6% |
| Contributions | 10/11 | €2,000,000 | €2,000,000 | = | 0.0% |
| Reserves | 13 | €1,164,203 | €1,215,933 | +€51,730 | +4.4% |
| Distributable reserves | 133 | €1,164,203 | €1,215,933 | +€51,730 | +4.4% |
| Amounts payable | 17/49 | €441,117 | €459,457 | +€18,339 | +4.2% |
| Amounts payable after more than one year | 17 | €86,370 | €71,771 | -€14,599 | -16.9% |
| Financial debts | 170/4 | €86,370 | €71,771 | -€14,599 | -16.9% |
| Amounts payable within one year | 42/48 | €354,747 | €387,685 | +€32,938 | +9.3% |
| Current portion of amounts payable after more than one year | 42 | €13,821 | €14,599 | +€777 | +5.6% |
| Trade debts | 44 | €484 | €2,460 | +€1,976 | +408% |
| Suppliers | 440/4 | €484 | €2,460 | +€1,976 | +408% |
| Taxes, remuneration and social security | 45 | €8,759 | €9,592 | +€833 | +9.5% |
| Taxes | 450/3 | €81 | €2,412 | +€2,331 | +2,884% |
| Remuneration and social security | 454/9 | €8,678 | €7,179 | -€1,499 | -17.3% |
| Other amounts payable | 47/48 | €331,683 | €361,035 | +€29,352 | +8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,212 | €51,212 | = | 0.0% |
| Other operating charges | 640/8 | €17,674 | €18,960 | +€1,286 | +7.3% |
| Gross operating margin | 9900 | €191,956 | €168,573 | -€23,383 | -12.2% |
| Operating profit (loss) | 9901 | €123,069 | €98,401 | -€24,668 | -20.0% |
| Financial charges | 65/66B | €35,091 | €29,444 | -€5,647 | -16.1% |
| Recurring financial charges | 65 | €35,091 | €29,444 | -€5,647 | -16.1% |
| Profit (loss) for the period before taxes | 9903 | €87,979 | €68,957 | -€19,022 | -21.6% |
| Income taxes | 67/77 | €21,995 | €17,227 | -€4,768 | -21.7% |
| Profit (loss) for the period | 9904 | €65,984 | €51,730 | -€14,254 | -21.6% |
| Profit (loss) for the period to be appropriated | 9905 | €65,984 | €51,730 | -€14,254 | -21.6% |
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 23 October 2026 via checked.be.