SERGE DEMONTY: 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.
SERGE DEMONTY
Largest movements
- Tangible fixed assets -€3,661
down €3,661 (-2.9%), from €127,173 to €123,512
of which Furniture and vehicles: -€2,734
- Other debts -€7,573
down €7,573 (-68.7%), from €11,031 to €3,458
- Trade debts +€1,922
up €1,922 (+69.2%), from €2,776 to €4,698
- Gross operating margin -€3,205
down €3,205 (-23.6%), from €13,602 to €10,398
- Other operating charges -€1,744
down €1,744 (-33.2%), from €5,245 to €3,501
- Depreciation -€708
down €708 (-16.2%), from €4,370 to €3,661
- Financial charges +€194
up €194 (+11.8%), from €1,644 to €1,837
of which Non-recurring financial charges: +€151
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 | €148,044 | €144,405 | -€3,638 | -2.5% |
| Fixed assets | 21/28 | €127,173 | €123,512 | -€3,661 | -2.9% |
| Tangible fixed assets | 22/27 | €127,173 | €123,512 | -€3,661 | -2.9% |
| Land and buildings | 22 | €96,817 | €96,631 | -€186 | -0.2% |
| Plant, machinery and equipment | 23 | €3,502 | €2,760 | -€742 | -21.2% |
| Furniture and vehicles | 24 | €26,854 | €24,120 | -€2,734 | -10.2% |
| Current assets | 29/58 | €20,870 | €20,893 | +€23 | +0.1% |
| Stocks and contracts in progress | 3 | €16,746 | €16,651 | -€95 | -0.6% |
| Stocks | 30/36 | €16,746 | €16,651 | -€95 | -0.6% |
| Amounts receivable within one year | 40/41 | €1,674 | €2,710 | +€1,037 | +61.9% |
| Trade receivables | 40 | €712 | €1,145 | +€433 | +60.7% |
| Other amounts receivable | 41 | €962 | €1,566 | +€604 | +62.8% |
| Cash at bank and in hand | 54/58 | €2,209 | €1,142 | -€1,068 | -48.3% |
| Deferred charges and accrued income | 490/1 | €242 | €390 | +€148 | +61.4% |
| Total equity and liabilities | 10/49 | €148,044 | €144,405 | -€3,638 | -2.5% |
| Equity | 10/15 | -€47,470 | -€46,023 | +€1,448 | +3.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €47 | €47 | = | 0.0% |
| Distributable reserves | 133 | €47 | €47 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€66,109 | -€64,661 | +€1,448 | +2.2% |
| Amounts payable | 17/49 | €195,514 | €190,428 | -€5,086 | -2.6% |
| Amounts payable after more than one year | 17 | €170,000 | €170,000 | = | 0.0% |
| Other amounts payable | 178/9 | €170,000 | €170,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €25,514 | €20,428 | -€5,086 | -19.9% |
| Financial debts | 43 | €11,507 | €12,272 | +€766 | +6.7% |
| Credit institutions | 430/8 | €11,507 | €12,272 | +€766 | +6.7% |
| Trade debts | 44 | €2,776 | €4,698 | +€1,922 | +69.2% |
| Suppliers | 440/4 | €2,776 | €4,698 | +€1,922 | +69.2% |
| Taxes, remuneration and social security | 45 | €200 | - | -€200 | |
| Taxes | 450/3 | €200 | - | -€200 | |
| Other amounts payable | 47/48 | €11,031 | €3,458 | -€7,573 | -68.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,370 | €3,661 | -€708 | -16.2% |
| Other operating charges | 640/8 | €5,245 | €3,501 | -€1,744 | -33.2% |
| Gross operating margin | 9900 | €13,602 | €10,398 | -€3,205 | -23.6% |
| Operating profit (loss) | 9901 | €3,987 | €3,235 | -€752 | -18.9% |
| Financial income | 75/76B | €1 | €50 | +€49 | +6,370% |
| Recurring financial income | 75 | €1 | €50 | +€49 | +6,370% |
| Financial charges | 65/66B | €1,644 | €1,837 | +€194 | +11.8% |
| Recurring financial charges | 65 | €1,644 | €1,686 | +€42 | +2.6% |
| Non-recurring financial charges | 66B | - | €151 | +€151 | |
| Profit (loss) for the period before taxes | 9903 | €2,344 | €1,448 | -€897 | -38.3% |
| Profit (loss) for the period | 9904 | €2,344 | €1,448 | -€897 | -38.3% |
| Profit (loss) for the period to be appropriated | 9905 | €2,344 | €1,448 | -€897 | -38.3% |
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.