ESPACE DEMEER: 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.
ESPACE DEMEER
Largest movements
- Tangible fixed assets +€259,080
up €259,080 (+85.5%), from €303,018 to €562,098
of which Land and buildings: +€261,454
- Cash -€22,027
down €22,027 (-71.9%), from €30,644 to €8,617
- Receivables within one year +€20,872
up €20,872 (+35.5%), from €58,842 to €79,714
of which Trade receivables: +€17,330
- Debts after one year +€106,759
up €106,759 (+109%), from €98,000 to €204,759
of which Financial debts: +€106,759
- Profit (loss) carried forward +€67,176
up €67,176 (+37.4%), from -€179,640 to -€112,464
- Current portion of long-term debt +€41,108
new in 2025: €41,108
- Other debts +€18,579
up €18,579 (+42.7%), from €43,529 to €62,108
- Trade debts +€18,577
up €18,577 (+124%), from €14,979 to €33,556
- Depreciation +€10,351
up €10,351 (+33.8%), from €30,598 to €40,949
- Financial charges +€10,228
up €10,228 (+138%), from €7,430 to €17,658
- Gross operating margin +€4,210
up €4,210 (+4.2%), from €99,307 to €103,517
From the 2023 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €392,504 | €650,429 | +€257,925 | +65.7% |
| Fixed assets | 21/28 | €303,018 | €562,098 | +€259,080 | +85.5% |
| Tangible fixed assets | 22/27 | €303,018 | €562,098 | +€259,080 | +85.5% |
| Land and buildings | 22 | €297,794 | €559,248 | +€261,454 | +87.8% |
| Furniture and vehicles | 24 | €5,224 | €2,850 | -€2,375 | -45.5% |
| Current assets | 29/58 | €89,486 | €88,331 | -€1,155 | -1.3% |
| Amounts receivable within one year | 40/41 | €58,842 | €79,714 | +€20,872 | +35.5% |
| Trade receivables | 40 | €47,150 | €64,480 | +€17,330 | +36.8% |
| Other amounts receivable | 41 | €11,692 | €15,235 | +€3,542 | +30.3% |
| Cash at bank and in hand | 54/58 | €30,644 | €8,617 | -€22,027 | -71.9% |
| Total equity and liabilities | 10/49 | €392,504 | €650,429 | +€257,925 | +65.7% |
| Equity | 10/15 | €222,360 | €289,536 | +€67,176 | +30.2% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Revaluation surpluses | 12 | €60,850 | €47,800 | -€13,050 | -21.4% |
| Reserves | 13 | €41,150 | €54,200 | +€13,050 | +31.7% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €39,150 | €52,200 | +€13,050 | +33.3% |
| Profit (loss) carried forward | 14 | -€179,640 | -€112,464 | +€67,176 | +37.4% |
| Amounts payable | 17/49 | €170,144 | €360,893 | +€190,749 | +112% |
| Amounts payable after more than one year | 17 | €98,000 | €204,759 | +€106,759 | +109% |
| Financial debts | 170/4 | - | €106,759 | +€106,759 | |
| Other amounts payable | 178/9 | €98,000 | €98,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €62,097 | €137,761 | +€75,663 | +122% |
| Current portion of amounts payable after more than one year | 42 | - | €41,108 | +€41,108 | |
| Trade debts | 44 | €14,979 | €33,556 | +€18,577 | +124% |
| Suppliers | 440/4 | €14,979 | €33,556 | +€18,577 | +124% |
| Taxes, remuneration and social security | 45 | €3,589 | €989 | -€2,601 | -72.5% |
| Taxes | 450/3 | €3,589 | €989 | -€2,601 | -72.5% |
| Other amounts payable | 47/48 | €43,529 | €62,108 | +€18,579 | +42.7% |
| Accrued charges and deferred income | 492/3 | €10,047 | €18,373 | +€8,326 | +82.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,598 | €40,949 | +€10,351 | +33.8% |
| Other operating charges | 640/8 | €2,622 | €3,548 | +€926 | +35.3% |
| Gross operating margin | 9900 | €99,307 | €103,517 | +€4,210 | +4.2% |
| Operating profit (loss) | 9901 | €66,088 | €59,020 | -€7,068 | -10.7% |
| Financial income | 75/76B | €949 | €811 | -€137 | -14.5% |
| Recurring financial income | 75 | €949 | €811 | -€137 | -14.5% |
| Financial charges | 65/66B | €7,430 | €17,658 | +€10,228 | +138% |
| Recurring financial charges | 65 | €7,430 | €17,658 | +€10,228 | +138% |
| Profit (loss) for the period before taxes | 9903 | €59,607 | €42,174 | -€17,434 | -29.2% |
| Income taxes | 67/77 | €708 | €297 | -€411 | -58.0% |
| Profit (loss) for the period | 9904 | €58,899 | €41,876 | -€17,023 | -28.9% |
| Profit (loss) for the period to be appropriated | 9905 | €58,899 | €41,876 | -€17,023 | -28.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2023 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.