DEMABO: 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.
DEMABO
Largest movements
- Receivables within one year -€113,764
down €113,764 (-27.1%), from €420,374 to €306,610
of which Trade receivables: -€97,218
- Tangible fixed assets -€33,423
down €33,423 (-25.9%), from €129,166 to €95,743
of which Furniture and vehicles: -€28,950
- Trade debts -€127,958
down €127,958 (-34.6%), from €369,436 to €241,478
- Debts after one year -€18,511
down €18,511 (-31.3%), from €59,195 to €40,684
- Reserves +€14,143
up €14,143 (+4.3%), from €329,588 to €343,731
- Staff costs +€48,076
up €48,076 (+13.0%), from €368,821 to €416,897
- Taxes -€13,500
down €13,500 (-53.0%), from €25,492 to €11,991
- Depreciation +€9,235
up €9,235 (+25.1%), from €36,797 to €46,032
- Financial charges -€8,142
down €8,142 (-57.8%), from €14,080 to €5,938
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 | €1,014,278 | €859,977 | -€154,301 | -15.2% |
| Fixed assets | 21/28 | €138,513 | €103,674 | -€34,839 | -25.2% |
| Intangible fixed assets | 21 | €3,557 | €2,141 | -€1,416 | -39.8% |
| Tangible fixed assets | 22/27 | €129,166 | €95,743 | -€33,423 | -25.9% |
| Plant, machinery and equipment | 23 | €18,631 | €20,375 | +€1,745 | +9.4% |
| Furniture and vehicles | 24 | €91,895 | €62,946 | -€28,950 | -31.5% |
| Other tangible fixed assets | 26 | €18,640 | €12,422 | -€6,218 | -33.4% |
| Financial fixed assets | 28 | €5,790 | €5,790 | = | 0.0% |
| Current assets | 29/58 | €875,765 | €756,302 | -€119,462 | -13.6% |
| Stocks and contracts in progress | 3 | €368,523 | €361,354 | -€7,169 | -1.9% |
| Stocks | 30/36 | €368,523 | €344,784 | -€23,739 | -6.4% |
| Contracts in progress | 37 | - | €16,570 | +€16,570 | |
| Amounts receivable within one year | 40/41 | €420,374 | €306,610 | -€113,764 | -27.1% |
| Trade receivables | 40 | €343,094 | €245,876 | -€97,218 | -28.3% |
| Other amounts receivable | 41 | €77,280 | €60,734 | -€16,546 | -21.4% |
| Cash at bank and in hand | 54/58 | €71,193 | €66,954 | -€4,240 | -6.0% |
| Deferred charges and accrued income | 490/1 | €15,674 | €21,385 | +€5,711 | +36.4% |
| Total equity and liabilities | 10/49 | €1,014,278 | €859,977 | -€154,301 | -15.2% |
| Equity | 10/15 | €359,588 | €373,731 | +€14,143 | +3.9% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €329,588 | €343,731 | +€14,143 | +4.3% |
| Distributable reserves | 133 | €329,588 | €343,731 | +€14,143 | +4.3% |
| Amounts payable | 17/49 | €654,690 | €486,246 | -€168,444 | -25.7% |
| Amounts payable after more than one year | 17 | €59,195 | €40,684 | -€18,511 | -31.3% |
| Financial debts | 170/4 | €59,195 | €40,684 | -€18,511 | -31.3% |
| Amounts payable within one year | 42/48 | €551,763 | €407,718 | -€144,045 | -26.1% |
| Current portion of amounts payable after more than one year | 42 | €28,052 | €18,511 | -€9,541 | -34.0% |
| Trade debts | 44 | €369,436 | €241,478 | -€127,958 | -34.6% |
| Suppliers | 440/4 | €369,436 | €241,478 | -€127,958 | -34.6% |
| Taxes, remuneration and social security | 45 | €58,476 | €51,930 | -€6,547 | -11.2% |
| Taxes | 450/3 | €5,310 | €0 | -€5,310 | -100.0% |
| Remuneration and social security | 454/9 | €53,167 | €51,930 | -€1,237 | -2.3% |
| Other amounts payable | 47/48 | €95,799 | €95,799 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €43,732 | €37,844 | -€5,888 | -13.5% |
| Remuneration, social security and pensions | 62 | €368,821 | €416,897 | +€48,076 | +13.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,797 | €46,032 | +€9,235 | +25.1% |
| Other operating charges | 640/8 | €1,588 | €2,671 | +€1,084 | +68.3% |
| Gross operating margin | 9900 | €493,118 | €495,764 | +€2,645 | +0.5% |
| Operating profit (loss) | 9901 | €85,913 | €30,163 | -€55,750 | -64.9% |
| Financial income | 75/76B | €1,329 | €1,908 | +€579 | +43.6% |
| Recurring financial income | 75 | €1,329 | €1,908 | +€579 | +43.6% |
| Financial charges | 65/66B | €14,080 | €5,938 | -€8,142 | -57.8% |
| Recurring financial charges | 65 | €14,080 | €5,938 | -€8,142 | -57.8% |
| Profit (loss) for the period before taxes | 9903 | €73,163 | €26,134 | -€47,029 | -64.3% |
| Income taxes | 67/77 | €25,492 | €11,991 | -€13,500 | -53.0% |
| Profit (loss) for the period | 9904 | €47,671 | €14,143 | -€33,529 | -70.3% |
| Profit (loss) for the period to be appropriated | 9905 | €47,671 | €14,143 | -€33,529 | -70.3% |
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 10 October 2026 via checked.be.