DEMAKENGI: 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.
DEMAKENGI
Largest movements
- Tangible fixed assets -€22,358
down €22,358 (-55.1%), from €40,542 to €18,184
of which Furniture and vehicles: -€13,741
- Cash +€10,913
up €10,913 (+17.5%), from €62,504 to €73,416
mainly Depreciation (+€22,358) and Tax, wage and social debts (+€13,977)
- Receivables within one year +€3,714
up €3,714 (+45.6%), from €8,144 to €11,859
- Reserves -€17,468
down €17,468 (-27.1%), from €64,569 to €47,101
of which Distributable reserves: -€17,468
- Tax, wage and social debts +€13,977
up €13,977 (+75.9%), from €18,419 to €32,396
of which Taxes: +€9,201
- Current portion of long-term debt -€7,522
down €7,522 (-68.6%), from €10,964 to €3,442
- Trade debts +€5,944
up €5,944 (+63.4%), from €9,380 to €15,325
- Debts after one year -€3,194
no longer reported in 2025 (was €3,194)
- Staff costs +€37,950
up €37,950 (+35.7%), from €106,426 to €144,376
- Gross operating margin +€33,914
up €33,914 (+23.0%), from €147,218 to €181,132
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 | €126,526 | €118,428 | -€8,097 | -6.4% |
| Fixed assets | 21/28 | €45,942 | €23,584 | -€22,358 | -48.7% |
| Tangible fixed assets | 22/27 | €40,542 | €18,184 | -€22,358 | -55.1% |
| Plant, machinery and equipment | 23 | €26,802 | €18,184 | -€8,617 | -32.2% |
| Furniture and vehicles | 24 | €13,741 | - | -€13,741 | |
| Financial fixed assets | 28 | €5,400 | €5,400 | = | 0.0% |
| Current assets | 29/58 | €80,584 | €94,844 | +€14,261 | +17.7% |
| Stocks and contracts in progress | 3 | €2,711 | €2,851 | +€140 | +5.2% |
| Stocks | 30/36 | €2,711 | €2,851 | +€140 | +5.2% |
| Amounts receivable within one year | 40/41 | €8,144 | €11,859 | +€3,714 | +45.6% |
| Other amounts receivable | 41 | €8,144 | €11,859 | +€3,714 | +45.6% |
| Cash at bank and in hand | 54/58 | €62,504 | €73,416 | +€10,913 | +17.5% |
| Deferred charges and accrued income | 490/1 | €7,225 | €6,719 | -€506 | -7.0% |
| Total equity and liabilities | 10/49 | €126,526 | €118,428 | -€8,097 | -6.4% |
| Equity | 10/15 | €84,569 | €67,101 | -€17,468 | -20.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €64,569 | €47,101 | -€17,468 | -27.1% |
| Tax-exempt reserves | 132 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €58,369 | €40,901 | -€17,468 | -29.9% |
| Amounts payable | 17/49 | €41,957 | €51,328 | +€9,371 | +22.3% |
| Amounts payable after more than one year | 17 | €3,194 | - | -€3,194 | |
| Financial debts | 170/4 | €3,194 | - | -€3,194 | |
| Amounts payable within one year | 42/48 | €38,763 | €51,328 | +€12,565 | +32.4% |
| Current portion of amounts payable after more than one year | 42 | €10,964 | €3,442 | -€7,522 | -68.6% |
| Trade debts | 44 | €9,380 | €15,325 | +€5,944 | +63.4% |
| Suppliers | 440/4 | €9,380 | €15,325 | +€5,944 | +63.4% |
| Taxes, remuneration and social security | 45 | €18,419 | €32,396 | +€13,977 | +75.9% |
| Taxes | 450/3 | €3,777 | €12,978 | +€9,201 | +244% |
| Remuneration and social security | 454/9 | €14,642 | €19,417 | +€4,776 | +32.6% |
| Other amounts payable | 47/48 | - | €165 | +€165 | |
| Remuneration, social security and pensions | 62 | €106,426 | €144,376 | +€37,950 | +35.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,458 | €22,358 | -€100 | -0.4% |
| Other operating charges | 640/8 | €1,295 | €1,334 | +€40 | +3.1% |
| Gross operating margin | 9900 | €147,218 | €181,132 | +€33,914 | +23.0% |
| Operating profit (loss) | 9901 | €17,040 | €13,064 | -€3,976 | -23.3% |
| Financial income | 75/76B | €165 | €609 | +€444 | +269% |
| Recurring financial income | 75 | €165 | €609 | +€444 | +269% |
| Financial charges | 65/66B | €2,041 | €2,862 | +€821 | +40.2% |
| Recurring financial charges | 65 | €2,041 | €2,862 | +€821 | +40.2% |
| Profit (loss) for the period before taxes | 9903 | €15,164 | €10,811 | -€4,353 | -28.7% |
| Income taxes | 67/77 | €4,499 | €3,279 | -€1,220 | -27.1% |
| Profit (loss) for the period | 9904 | €10,665 | €7,532 | -€3,133 | -29.4% |
| Profit (loss) for the period to be appropriated | 9905 | €10,665 | €7,532 | -€3,133 | -29.4% |
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 14 October 2026 via checked.be.