DEMAK: 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.
DEMAK
Largest movements
- Cash +€553,243
up €553,243 (+36.2%), from €1.5m to €2.1m
mainly Debts after one year (+€1.0m) and Current investments (+€500,000)
- Current investments -€500,000
down €500,000 (-27.8%), from €1.8m to €1.3m
- Receivables within one year -€119,384
down €119,384 (-85.3%), from €139,944 to €20,560
of which Other amounts receivable: -€120,249
- Tangible fixed assets +€107,223
up €107,223 (+2.6%), from €4.1m to €4.2m
of which Land and buildings: +€111,636
- Other debts -€1.2m
down €1.2m (-93.2%), from €1.3m to €87,917
- Debts after one year +€1.0m
up €1.0m (+133.2%), from €783,501 to €1.8m
- Reserves +€373,949
up €373,949 (+7.7%), from €4.9m to €5.2m
of which Distributable reserves: +€379,631
- Trade debts -€127,130
down €127,130 (-83.4%), from €152,500 to €25,370
- Gross operating margin -€135,820
down €135,820 (-13.0%), from €1.0m to €907,474
- Taxes -€64,217
down €64,217 (-26.5%), from €242,430 to €178,213
- Depreciation +€45,598
up €45,598 (+23.3%), from €195,819 to €241,417
- Financial income -€23,224
down €23,224 (-35.5%), from €65,448 to €42,224
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 | €7,644,985 | €7,685,435 | +€40,450 | +0.5% |
| Fixed assets | 21/28 | €4,086,734 | €4,193,957 | +€107,223 | +2.6% |
| Tangible fixed assets | 22/27 | €4,086,390 | €4,193,614 | +€107,223 | +2.6% |
| Land and buildings | 22 | €4,081,551 | €4,193,187 | +€111,636 | +2.7% |
| Furniture and vehicles | 24 | €4,839 | €427 | -€4,412 | -91.2% |
| Financial fixed assets | 28 | €343 | €343 | = | 0.0% |
| Current assets | 29/58 | €3,558,252 | €3,491,478 | -€66,773 | -1.9% |
| Amounts receivable within one year | 40/41 | €139,944 | €20,560 | -€119,384 | -85.3% |
| Trade receivables | 40 | €86 | €951 | +€865 | +1001.9% |
| Other amounts receivable | 41 | €139,858 | €19,609 | -€120,249 | -86.0% |
| Current investments | 50/53 | €1,800,000 | €1,300,000 | -€500,000 | -27.8% |
| Cash at bank and in hand | 54/58 | €1,528,362 | €2,081,605 | +€553,243 | +36.2% |
| Deferred charges and accrued income | 490/1 | €89,945 | €89,313 | -€632 | -0.7% |
| Total equity and liabilities | 10/49 | €7,644,985 | €7,685,435 | +€40,450 | +0.5% |
| Equity | 10/15 | €5,126,998 | €5,500,946 | +€373,949 | +7.3% |
| Contributions | 10/11 | €175,000 | €175,000 | = | 0.0% |
| Revaluation surpluses | 12 | €64,673 | €64,673 | = | 0.0% |
| Reserves | 13 | €4,869,799 | €5,243,748 | +€373,949 | +7.7% |
| Tax-exempt reserves | 132 | €117,099 | €111,418 | -€5,682 | -4.9% |
| Distributable reserves | 133 | €4,752,700 | €5,132,331 | +€379,631 | +8.0% |
| Profit (loss) carried forward | 14 | €17,525 | €17,525 | = | 0.0% |
| Provisions and deferred taxes | 16 | €60,297 | €57,371 | -€2,926 | -4.9% |
| Deferred taxes | 168 | €60,297 | €57,371 | -€2,926 | -4.9% |
| Amounts payable | 17/49 | €2,457,691 | €2,127,118 | -€330,573 | -13.5% |
| Amounts payable after more than one year | 17 | €783,501 | €1,826,801 | +€1.0m | +133.2% |
| Other amounts payable | 178/9 | €783,501 | €1,826,801 | +€1.0m | +133.2% |
| Amounts payable within one year | 42/48 | €1,640,643 | €274,027 | -€1.4m | -83.3% |
| Current portion of amounts payable after more than one year | 42 | €156,700 | €156,700 | = | 0.0% |
| Trade debts | 44 | €152,500 | €25,370 | -€127,130 | -83.4% |
| Suppliers | 440/4 | €152,500 | €25,370 | -€127,130 | -83.4% |
| Taxes, remuneration and social security | 45 | €47,885 | €4,040 | -€43,845 | -91.6% |
| Taxes | 450/3 | €47,885 | €4,040 | -€43,845 | -91.6% |
| Other amounts payable | 47/48 | €1,283,558 | €87,917 | -€1.2m | -93.2% |
| Accrued charges and deferred income | 492/3 | €33,547 | €26,290 | -€7,257 | -21.6% |
| Non-recurring operating income | 76A | - | €3,000 | +€3,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €195,819 | €241,417 | +€45,598 | +23.3% |
| Other operating charges | 640/8 | €103,350 | €101,392 | -€1,958 | -1.9% |
| Gross operating margin | 9900 | €1,043,294 | €907,474 | -€135,820 | -13.0% |
| Operating profit (loss) | 9901 | €744,126 | €564,665 | -€179,461 | -24.1% |
| Financial income | 75/76B | €65,448 | €42,224 | -€23,224 | -35.5% |
| Recurring financial income | 75 | €65,448 | €42,224 | -€23,224 | -35.5% |
| Financial charges | 65/66B | €58,796 | €57,653 | -€1,144 | -1.9% |
| Recurring financial charges | 65 | €58,796 | €57,653 | -€1,144 | -1.9% |
| Profit (loss) for the period before taxes | 9903 | €750,777 | €549,236 | -€201,541 | -26.8% |
| Transfer from deferred taxes | 780 | €2,926 | €2,926 | = | 0.0% |
| Income taxes | 67/77 | €242,430 | €178,213 | -€64,217 | -26.5% |
| Profit (loss) for the period | 9904 | €511,273 | €373,949 | -€137,324 | -26.9% |
| Transfer from tax-exempt reserves | 789 | €5,682 | €5,682 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €516,955 | €379,631 | -€137,324 | -26.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.