DEMACO: what changed
Two fiscal 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.
DEMACO
Largest movements
- Cash -€63,195
down €63,195 (-50.3%), from €125,713 to €62,518
mainly Investment in fixed assets (net) (-€47,793) and Debts after one year (-€26,014)
- Tangible fixed assets +€24,252
up €24,252 (+4.7%), from €511,386 to €535,639
of which Land and buildings: +€19,904
- Receivables within one year +€20,812
up €20,812 (+132.0%), from €15,770 to €36,582
of which Other amounts receivable: +€19,957
- Reserves +€33,734
up €33,734 (+13.9%), from €243,390 to €277,124
- Debts after one year -€26,014
down €26,014 (-11.6%), from €224,426 to €198,412
- Trade debts -€25,791
down €25,791 (-42.9%), from €60,068 to €34,278
- Gross operating margin -€33,751
down €33,751 (-25.7%), from €131,141 to €97,390
- Taxes -€10,872
down €10,872 (-29.9%), from €36,416 to €25,544
- Depreciation +€4,829
up €4,829 (+25.8%), from €18,712 to €23,541
- Financial income -€1,420
down €1,420 (-76.1%), from €1,867 to €447
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 | €676,946 | €658,966 | -€17,980 | -2.7% |
| Fixed assets | 21/28 | €511,386 | €535,639 | +€24,252 | +4.7% |
| Tangible fixed assets | 22/27 | €511,386 | €535,639 | +€24,252 | +4.7% |
| Land and buildings | 22 | €509,362 | €529,266 | +€19,904 | +3.9% |
| Furniture and vehicles | 24 | €2,024 | €6,372 | +€4,348 | +214.8% |
| Current assets | 29/58 | €165,560 | €123,327 | -€42,233 | -25.5% |
| Amounts receivable after more than one year | 29 | €16,000 | €16,000 | = | 0.0% |
| Other amounts receivable | 291 | €16,000 | €16,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €15,770 | €36,582 | +€20,812 | +132.0% |
| Trade receivables | 40 | €13,695 | €14,550 | +€855 | +6.2% |
| Other amounts receivable | 41 | €2,074 | €22,031 | +€19,957 | +962.0% |
| Cash at bank and in hand | 54/58 | €125,713 | €62,518 | -€63,195 | -50.3% |
| Deferred charges and accrued income | 490/1 | €8,077 | €8,228 | +€151 | +1.9% |
| Total equity and liabilities | 10/49 | €676,946 | €658,966 | -€17,980 | -2.7% |
| Equity | 10/15 | €316,107 | €349,841 | +€33,734 | +10.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €243,390 | €277,124 | +€33,734 | +13.9% |
| Distributable reserves | 133 | €243,390 | €277,124 | +€33,734 | +13.9% |
| Profit (loss) carried forward | 14 | €54,117 | €54,117 | = | 0.0% |
| Amounts payable | 17/49 | €360,840 | €309,125 | -€51,714 | -14.3% |
| Amounts payable after more than one year | 17 | €224,426 | €198,412 | -€26,014 | -11.6% |
| Financial debts | 170/4 | €224,426 | €198,412 | -€26,014 | -11.6% |
| Amounts payable within one year | 42/48 | €119,649 | €93,948 | -€25,700 | -21.5% |
| Current portion of amounts payable after more than one year | 42 | €25,546 | €26,014 | +€468 | +1.8% |
| Financial debts | 43 | €10,204 | €5,095 | -€5,109 | -50.1% |
| Credit institutions | 430/8 | €10,204 | €5,095 | -€5,109 | -50.1% |
| Trade debts | 44 | €60,068 | €34,278 | -€25,791 | -42.9% |
| Suppliers | 440/4 | €60,068 | €34,278 | -€25,791 | -42.9% |
| Taxes, remuneration and social security | 45 | €23,810 | €28,542 | +€4,732 | +19.9% |
| Taxes | 450/3 | €23,810 | €28,542 | +€4,732 | +19.9% |
| Other amounts payable | 47/48 | €20 | €20 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €16,765 | €16,765 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,712 | €23,541 | +€4,829 | +25.8% |
| Other operating charges | 640/8 | €6,490 | €7,224 | +€734 | +11.3% |
| Gross operating margin | 9900 | €131,141 | €97,390 | -€33,751 | -25.7% |
| Operating profit (loss) | 9901 | €105,940 | €66,625 | -€39,315 | -37.1% |
| Financial income | 75/76B | €1,867 | €447 | -€1,420 | -76.1% |
| Recurring financial income | 75 | €1,867 | €447 | -€1,420 | -76.1% |
| Financial charges | 65/66B | €7,280 | €7,794 | +€513 | +7.0% |
| Recurring financial charges | 65 | €7,280 | €7,794 | +€513 | +7.0% |
| Profit (loss) for the period before taxes | 9903 | €100,526 | €59,278 | -€41,248 | -41.0% |
| Income taxes | 67/77 | €36,416 | €25,544 | -€10,872 | -29.9% |
| Profit (loss) for the period | 9904 | €64,110 | €33,734 | -€30,376 | -47.4% |
| Profit (loss) for the period to be appropriated | 9905 | €64,110 | €33,734 | -€30,376 | -47.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.