DEMAJO: what changed
What changed
DEMAJO
NACE 25.510, Coating of metals
filed annual accounts (NBB)
Net result for the year
€116,746
2024 · €2,443+€114,303
Equity
€27,910
2024 · -€88,836+€116,746
Cash
€43,387
2024 · €42,782+€604
Balance sheet total
€758,424
2024 · €869,034-€110,610
Largest movements
Assets
- Tangible fixed assets -€97,103
down €97,103 (-20.1%), from €482,312 to €385,209
of which Plant, machinery and equipment: -€90,572
- Intangible fixed assets -€22,538
down €22,538 (-19.2%), from €117,427 to €94,889
Equity and liabilities
- Profit (loss) carried forward +€116,746
up €116,746 (+98.2%), from -€118,836 to -€2,090
- Other debts -€85,000
down €85,000 (-21.0%), from €405,000 to €320,000
- Debts after one year -€62,143
down €62,143 (-27.3%), from €227,857 to €165,714
- Trade debts -€37,089
down €37,089 (-20.8%), from €178,713 to €141,623
- Current portion of long-term debt -€35,711
down €35,711 (-36.5%), from €97,853 to €62,143
Income statement
- Gross operating margin +€103,075
up €103,075 (+28.2%), from €365,108 to €468,183
- Staff costs -€8,907
down €8,907 (-4.1%), from €217,884 to €208,977
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€2,443
Gross operating margin
+€103,075
Staff costs
+€8,907
Depreciation
+€436
Other operating charges
-€93
Financial income
-€181
Financial charges
+€2,159
Result 2025
€116,746
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€104,857
Investment
€0
Financing
-€104,253
Cash 2024
€42,782
From operations (derived)
+€104,857
Net result for the year
+€116,746
Depreciation
+€119,641
Stocks and contracts
-€5,145
Receivables within one year
-€5,076
Deferred charges and accrued income
+€1,795
Trade debts
-€37,089
Tax, wage and social debts
-€896
Other debts
-€85,000
Accrued charges and deferred income
-€118
Financing
-€104,253
Debts after one year
-€62,143
Current portion of long-term debt
-€35,711
Short-term financial debts
-€6,400
Cash 2025
€43,387
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €869,034 | €758,424 | -€110,610 | -12.7% |
| Fixed assets | 21/28 | €599,944 | €480,303 | -€119,641 | -19.9% |
| Intangible fixed assets | 21 | €117,427 | €94,889 | -€22,538 | -19.2% |
| Tangible fixed assets | 22/27 | €482,312 | €385,209 | -€97,103 | -20.1% |
| Plant, machinery and equipment | 23 | €458,743 | €368,172 | -€90,572 | -19.7% |
| Furniture and vehicles | 24 | €23,569 | €17,038 | -€6,531 | -27.7% |
| Financial fixed assets | 28 | €205 | €205 | = | 0.0% |
| Current assets | 29/58 | €269,090 | €278,121 | +€9,031 | +3.4% |
| Stocks and contracts in progress | 3 | €42,297 | €47,442 | +€5,145 | +12.2% |
| Stocks | 30/36 | €42,297 | €47,442 | +€5,145 | +12.2% |
| Amounts receivable within one year | 40/41 | €179,457 | €184,533 | +€5,076 | +2.8% |
| Trade receivables | 40 | €152,347 | €164,146 | +€11,799 | +7.7% |
| Other amounts receivable | 41 | €27,110 | €20,387 | -€6,723 | -24.8% |
| Cash at bank and in hand | 54/58 | €42,782 | €43,387 | +€604 | +1.4% |
| Deferred charges and accrued income | 490/1 | €4,554 | €2,760 | -€1,795 | -39.4% |
| Total equity and liabilities | 10/49 | €869,034 | €758,424 | -€110,610 | -12.7% |
| Equity | 10/15 | -€88,836 | €27,910 | +€116,746 | |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€118,836 | -€2,090 | +€116,746 | +98.2% |
| Amounts payable | 17/49 | €957,870 | €730,514 | -€227,356 | -23.7% |
| Amounts payable after more than one year | 17 | €227,857 | €165,714 | -€62,143 | -27.3% |
| Financial debts | 170/4 | €227,857 | €165,714 | -€62,143 | -27.3% |
| Amounts payable within one year | 42/48 | €713,222 | €548,127 | -€165,096 | -23.1% |
| Current portion of amounts payable after more than one year | 42 | €97,853 | €62,143 | -€35,711 | -36.5% |
| Financial debts | 43 | €15,900 | €9,500 | -€6,400 | -40.2% |
| Credit institutions | 430/8 | €15,900 | €9,500 | -€6,400 | -40.2% |
| Trade debts | 44 | €178,713 | €141,623 | -€37,089 | -20.8% |
| Suppliers | 440/4 | €178,713 | €141,623 | -€37,089 | -20.8% |
| Taxes, remuneration and social security | 45 | €15,757 | €14,860 | -€896 | -5.7% |
| Remuneration and social security | 454/9 | €15,757 | €14,860 | -€896 | -5.7% |
| Other amounts payable | 47/48 | €405,000 | €320,000 | -€85,000 | -21.0% |
| Accrued charges and deferred income | 492/3 | €16,791 | €16,673 | -€118 | -0.7% |
| Remuneration, social security and pensions | 62 | €217,884 | €208,977 | -€8,907 | -4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €120,077 | €119,641 | -€436 | -0.4% |
| Other operating charges | 640/8 | €1,313 | €1,406 | +€93 | +7.1% |
| Gross operating margin | 9900 | €365,108 | €468,183 | +€103,075 | +28.2% |
| Operating profit (loss) | 9901 | €25,834 | €138,159 | +€112,325 | +435% |
| Financial income | 75/76B | €4,060 | €3,879 | -€181 | -4.5% |
| Recurring financial income | 75 | €4,060 | €3,879 | -€181 | -4.5% |
| Financial charges | 65/66B | €27,450 | €25,292 | -€2,159 | -7.9% |
| Recurring financial charges | 65 | €27,450 | €25,292 | -€2,159 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | €2,443 | €116,746 | +€114,303 | +4,678% |
| Profit (loss) for the period | 9904 | €2,443 | €116,746 | +€114,303 | +4,678% |
| Profit (loss) for the period to be appropriated | 9905 | €2,443 | €116,746 | +€114,303 | +4,678% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.