DR. DEMOT: 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.
DR. DEMOT
Largest movements
- Cash +€165,589
up €165,589 (+81.5%), from €203,180 to €368,769
mainly Net result for the year (+€103,979) and Current investments (+€100,000)
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Receivables within one year -€26,901
down €26,901 (-20.0%), from €134,380 to €107,479
- Tangible fixed assets -€25,162
down €25,162 (-3.7%), from €681,158 to €655,996
of which Land and buildings: -€27,740
- Reserves +€103,979
up €103,979 (+13.7%), from €757,575 to €861,554
of which Distributable reserves: +€103,979
- Debts after one year -€69,108
down €69,108 (-70.0%), from €98,767 to €29,659
- Tax, wage and social debts -€17,919
down €17,919 (-72.7%), from €24,646 to €6,727
- Gross operating margin -€60,058
down €60,058 (-24.8%), from €242,553 to €182,495
- Depreciation -€15,091
down €15,091 (-34.9%), from €43,213 to €28,122
- Taxes -€10,923
down €10,923 (-20.3%), from €53,783 to €42,861
- Financial charges -€4,691
down €4,691 (-33.6%), from €13,973 to €9,282
- Financial income +€3,726
up €3,726 (+950.9%), from €392 to €4,118
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 | €1,124,005 | €1,137,091 | +€13,087 | +1.2% |
| Fixed assets | 21/28 | €681,158 | €655,996 | -€25,162 | -3.7% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €681,158 | €655,996 | -€25,162 | -3.7% |
| Land and buildings | 22 | €673,411 | €645,671 | -€27,740 | -4.1% |
| Plant, machinery and equipment | 23 | €3,747 | €3,365 | -€382 | -10.2% |
| Furniture and vehicles | 24 | €4,000 | €6,960 | +€2,960 | +74.0% |
| Current assets | 29/58 | €442,846 | €481,095 | +€38,249 | +8.6% |
| Amounts receivable within one year | 40/41 | €134,380 | €107,479 | -€26,901 | -20.0% |
| Trade receivables | 40 | €134,380 | €107,479 | -€26,901 | -20.0% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €203,180 | €368,769 | +€165,589 | +81.5% |
| Deferred charges and accrued income | 490/1 | €5,287 | €4,848 | -€439 | -8.3% |
| Total equity and liabilities | 10/49 | €1,124,005 | €1,137,091 | +€13,087 | +1.2% |
| Equity | 10/15 | €853,598 | €957,577 | +€103,979 | +12.2% |
| Contributions | 10/11 | €96,023 | €96,023 | = | 0.0% |
| Reserves | 13 | €757,575 | €861,554 | +€103,979 | +13.7% |
| Non-distributable reserves | 130/1 | €2,562 | €2,562 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,562 | €2,562 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,000 | €15,000 | = | 0.0% |
| Distributable reserves | 133 | €740,013 | €843,992 | +€103,979 | +14.1% |
| Amounts payable | 17/49 | €270,407 | €179,514 | -€90,892 | -33.6% |
| Amounts payable after more than one year | 17 | €98,767 | €29,659 | -€69,108 | -70.0% |
| Financial debts | 170/4 | €98,767 | €29,659 | -€69,108 | -70.0% |
| Amounts payable within one year | 42/48 | €170,679 | €149,855 | -€20,824 | -12.2% |
| Current portion of amounts payable after more than one year | 42 | €66,277 | €69,108 | +€2,831 | +4.3% |
| Trade debts | 44 | - | €0 | = | |
| Suppliers | 440/4 | - | €0 | = | |
| Taxes, remuneration and social security | 45 | €24,646 | €6,727 | -€17,919 | -72.7% |
| Taxes | 450/3 | €24,646 | €6,727 | -€17,919 | -72.7% |
| Other amounts payable | 47/48 | €79,757 | €74,021 | -€5,736 | -7.2% |
| Accrued charges and deferred income | 492/3 | €960 | - | -€960 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,213 | €28,122 | -€15,091 | -34.9% |
| Other operating charges | 640/8 | €3,305 | €2,369 | -€936 | -28.3% |
| Gross operating margin | 9900 | €242,553 | €182,495 | -€60,058 | -24.8% |
| Operating profit (loss) | 9901 | €196,035 | €152,004 | -€44,031 | -22.5% |
| Financial income | 75/76B | €392 | €4,118 | +€3,726 | +950.9% |
| Recurring financial income | 75 | €392 | €4,118 | +€3,726 | +950.9% |
| Financial charges | 65/66B | €13,973 | €9,282 | -€4,691 | -33.6% |
| Recurring financial charges | 65 | €13,973 | €9,282 | -€4,691 | -33.6% |
| Profit (loss) for the period before taxes | 9903 | €182,454 | €146,839 | -€35,614 | -19.5% |
| Income taxes | 67/77 | €53,783 | €42,861 | -€10,923 | -20.3% |
| Profit (loss) for the period | 9904 | €128,670 | €103,979 | -€24,691 | -19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €128,670 | €103,979 | -€24,691 | -19.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.