J & E Demeulenaere: 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.
J & E Demeulenaere
Largest movements
- Current investments +€60,000
new in 2025: €60,000
- Cash +€23,020
up €23,020 (+26.3%), from €87,560 to €110,580
mainly Net result for the year (+€75,408) and Depreciation (+€12,494)
- Tangible fixed assets -€12,494
down €12,494 (-36.8%), from €33,991 to €21,497
of which Furniture and vehicles: -€11,694
- Stocks and contracts -€8,543
down €8,543 (-17.6%), from €48,482 to €39,939
- Receivables within one year -€5,461
down €5,461 (-31.2%), from €17,508 to €12,047
of which Trade receivables: -€5,468
- Reserves +€75,408
up €75,408 (+81.1%), from €92,941 to €168,349
- Accrued charges and deferred income -€15,097
down €15,097 (-82.0%), from €18,415 to €3,318
- Other debts +€6,097
up €6,097 (+15.6%), from €39,173 to €45,271
- Tax, wage and social debts -€5,509
down €5,509 (-22.2%), from €24,835 to €19,326
- Trade debts -€4,752
down €4,752 (-47.0%), from €10,110 to €5,359
- Gross operating margin +€51,071
up €51,071 (+83.7%), from €61,000 to €112,071
- Taxes +€11,635
up €11,635 (+117%), from €9,970 to €21,605
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 | €188,474 | €244,623 | +€56,149 | +29.8% |
| Fixed assets | 21/28 | €33,991 | €21,497 | -€12,494 | -36.8% |
| Tangible fixed assets | 22/27 | €33,991 | €21,497 | -€12,494 | -36.8% |
| Land and buildings | 22 | €2,503 | €1,703 | -€800 | -32.0% |
| Furniture and vehicles | 24 | €31,488 | €19,794 | -€11,694 | -37.1% |
| Current assets | 29/58 | €154,483 | €223,126 | +€68,642 | +44.4% |
| Stocks and contracts in progress | 3 | €48,482 | €39,939 | -€8,543 | -17.6% |
| Stocks | 30/36 | €48,482 | €39,939 | -€8,543 | -17.6% |
| Amounts receivable within one year | 40/41 | €17,508 | €12,047 | -€5,461 | -31.2% |
| Trade receivables | 40 | €17,483 | €12,015 | -€5,468 | -31.3% |
| Other amounts receivable | 41 | €25 | €32 | +€7 | +26.8% |
| Current investments | 50/53 | - | €60,000 | +€60,000 | |
| Cash at bank and in hand | 54/58 | €87,560 | €110,580 | +€23,020 | +26.3% |
| Deferred charges and accrued income | 490/1 | €932 | €559 | -€373 | -40.0% |
| Total equity and liabilities | 10/49 | €188,474 | €244,623 | +€56,149 | +29.8% |
| Equity | 10/15 | €95,941 | €171,349 | +€75,408 | +78.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €92,941 | €168,349 | +€75,408 | +81.1% |
| Distributable reserves | 133 | €92,941 | €168,349 | +€75,408 | +81.1% |
| Amounts payable | 17/49 | €92,533 | €73,273 | -€19,260 | -20.8% |
| Amounts payable within one year | 42/48 | €74,118 | €69,955 | -€4,163 | -5.6% |
| Trade debts | 44 | €10,110 | €5,359 | -€4,752 | -47.0% |
| Suppliers | 440/4 | €10,110 | €5,359 | -€4,752 | -47.0% |
| Taxes, remuneration and social security | 45 | €24,835 | €19,326 | -€5,509 | -22.2% |
| Taxes | 450/3 | €24,835 | €19,326 | -€5,509 | -22.2% |
| Other amounts payable | 47/48 | €39,173 | €45,271 | +€6,097 | +15.6% |
| Accrued charges and deferred income | 492/3 | €18,415 | €3,318 | -€15,097 | -82.0% |
| Remuneration, social security and pensions | 62 | €198 | €206 | +€8 | +4.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,740 | €12,494 | -€247 | -1.9% |
| Other operating charges | 640/8 | €626 | €732 | +€106 | +16.9% |
| Gross operating margin | 9900 | €61,000 | €112,071 | +€51,071 | +83.7% |
| Operating profit (loss) | 9901 | €47,435 | €98,640 | +€51,204 | +108% |
| Financial income | 75/76B | €486 | €1,304 | +€818 | +168% |
| Recurring financial income | 75 | €486 | €1,304 | +€818 | +168% |
| Financial charges | 65/66B | €3,075 | €2,930 | -€144 | -4.7% |
| Recurring financial charges | 65 | €3,075 | €2,930 | -€144 | -4.7% |
| Profit (loss) for the period before taxes | 9903 | €44,847 | €97,014 | +€52,167 | +116% |
| Income taxes | 67/77 | €9,970 | €21,605 | +€11,635 | +117% |
| Profit (loss) for the period | 9904 | €34,877 | €75,408 | +€40,532 | +116% |
| Profit (loss) for the period to be appropriated | 9905 | €34,877 | €75,408 | +€40,532 | +116% |
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 13 October 2026 via checked.be.