PASCAL DEMILECAMPS: 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.
PASCAL DEMILECAMPS
Largest movements
- Receivables within one year +€1.8m
up €1.8m (+147%), from €1.2m to €3.1m
of which Other amounts receivable: +€1.8m
- Tangible fixed assets -€1.4m
down €1.4m (-67.5%), from €2.1m to €686,061
of which Land and buildings: -€1.3m
- Cash -€182,723
down €182,723 (-34.8%), from €525,024 to €342,301
mainly Receivables within one year (-€1.8m) and Debts after one year (-€417,818)
- Stocks and contracts +€168,169
up €168,169 (+19.3%), from €872,855 to €1.0m
- Receivables after one year +€117,815
up €117,815 (+4.4%), from €2.7m to €2.8m
- Profit (loss) carried forward +€1.1m
up €1.1m (+30.3%), from €3.6m to €4.7m
- Debts after one year -€417,818
down €417,818 (-16.2%), from €2.6m to €2.2m
- Other debts -€92,232
down €92,232 (-99.5%), from €92,700 to €468
- Financial income +€716,911
up €716,911 (+525%), from €136,446 to €853,357
of which Non-recurring financial income: +€759,472
- Write-downs +€200,000
new in 2025: €200,000
- Taxes -€62,174
down €62,174 (-32.4%), from €191,932 to €129,757
- Gross operating margin -€19,488
down €19,488 (-2.6%), from €761,970 to €742,482
- Depreciation -€11,672
down €11,672 (-16.6%), from €70,264 to €58,592
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 | €7,775,625 | €8,281,804 | +€506,178 | +6.5% |
| Fixed assets | 21/28 | €2,408,482 | €984,279 | -€1.4m | -59.1% |
| Tangible fixed assets | 22/27 | €2,110,264 | €686,061 | -€1.4m | -67.5% |
| Land and buildings | 22 | €1,402,330 | €78,879 | -€1.3m | -94.4% |
| Furniture and vehicles | 24 | €154,053 | €93,962 | -€60,091 | -39.0% |
| Other tangible fixed assets | 26 | €553,880 | €513,220 | -€40,660 | -7.3% |
| Financial fixed assets | 28 | €298,218 | €298,218 | = | 0.0% |
| Current assets | 29/58 | €5,367,144 | €7,297,524 | +€1.9m | +36.0% |
| Amounts receivable after more than one year | 29 | €2,693,561 | €2,811,376 | +€117,815 | +4.4% |
| Trade receivables | 290 | €2,693,561 | €2,811,376 | +€117,815 | +4.4% |
| Stocks and contracts in progress | 3 | €872,855 | €1,041,024 | +€168,169 | +19.3% |
| Stocks | 30/36 | €872,855 | €1,041,024 | +€168,169 | +19.3% |
| Amounts receivable within one year | 40/41 | €1,243,160 | €3,069,512 | +€1.8m | +147% |
| Trade receivables | 40 | €3,294 | €2,531 | -€762 | -23.1% |
| Other amounts receivable | 41 | €1,239,867 | €3,066,980 | +€1.8m | +147% |
| Current investments | 50/53 | €11,245 | €11,245 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €525,024 | €342,301 | -€182,723 | -34.8% |
| Deferred charges and accrued income | 490/1 | €21,298 | €22,066 | +€767 | +3.6% |
| Total equity and liabilities | 10/49 | €7,775,625 | €8,281,804 | +€506,178 | +6.5% |
| Equity | 10/15 | €3,772,031 | €4,876,529 | +€1.1m | +29.3% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €101,063 | €101,063 | = | 0.0% |
| Distributable reserves | 133 | €101,063 | €101,063 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,640,968 | €4,745,466 | +€1.1m | +30.3% |
| Amounts payable | 17/49 | €4,003,595 | €3,405,275 | -€598,320 | -14.9% |
| Amounts payable after more than one year | 17 | €2,581,803 | €2,163,985 | -€417,818 | -16.2% |
| Financial debts | 170/4 | €2,581,803 | €2,163,985 | -€417,818 | -16.2% |
| Amounts payable within one year | 42/48 | €1,390,412 | €1,212,565 | -€177,846 | -12.8% |
| Current portion of amounts payable after more than one year | 42 | €419,513 | €417,818 | -€1,695 | -0.4% |
| Financial debts | 43 | €845,333 | €768,500 | -€76,833 | -9.1% |
| Credit institutions | 430/8 | €845,333 | €768,500 | -€76,833 | -9.1% |
| Trade debts | 44 | €12,167 | €5,211 | -€6,956 | -57.2% |
| Suppliers | 440/4 | €12,167 | €5,211 | -€6,956 | -57.2% |
| Taxes, remuneration and social security | 45 | €20,698 | €20,568 | -€130 | -0.6% |
| Taxes | 450/3 | €20,698 | €20,568 | -€130 | -0.6% |
| Other amounts payable | 47/48 | €92,700 | €468 | -€92,232 | -99.5% |
| Accrued charges and deferred income | 492/3 | €31,380 | €28,725 | -€2,656 | -8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €70,264 | €58,592 | -€11,672 | -16.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €200,000 | +€200,000 | |
| Other operating charges | 640/8 | €7,271 | €9,964 | +€2,693 | +37.0% |
| Gross operating margin | 9900 | €761,970 | €742,482 | -€19,488 | -2.6% |
| Operating profit (loss) | 9901 | €684,435 | €473,926 | -€210,509 | -30.8% |
| Financial income | 75/76B | €136,446 | €853,357 | +€716,911 | +525% |
| Recurring financial income | 75 | €136,446 | €93,885 | -€42,561 | -31.2% |
| Non-recurring financial income | 76B | - | €759,472 | +€759,472 | |
| Financial charges | 65/66B | €95,161 | €93,027 | -€2,133 | -2.2% |
| Recurring financial charges | 65 | €95,161 | €89,040 | -€6,121 | -6.4% |
| Non-recurring financial charges | 66B | - | €3,988 | +€3,988 | |
| Profit (loss) for the period before taxes | 9903 | €725,720 | €1,234,256 | +€508,536 | +70.1% |
| Income taxes | 67/77 | €191,932 | €129,757 | -€62,174 | -32.4% |
| Profit (loss) for the period | 9904 | €533,789 | €1,104,498 | +€570,710 | +107% |
| Profit (loss) for the period to be appropriated | 9905 | €533,789 | €1,104,498 | +€570,710 | +107% |
Source: filed annual accounts (NBB), financial years ended 30 April 2024 and 30 April 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.