DEMALAS: 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.
DEMALAS
Largest movements
- Cash +€23,469
up €23,469 (+70.3%), from €33,369 to €56,838
mainly Net result for the year (+€35,229) and Other debts (+€26,423)
- Tangible fixed assets -€15,568
down €15,568 (-21.4%), from €72,682 to €57,114
- Receivables within one year +€9,664
up €9,664 (+26.2%), from €36,836 to €46,499
of which Trade receivables: +€14,234
- Intangible fixed assets -€8,000
down €8,000 (-40.0%), from €20,000 to €12,000
- Other debts +€26,423
up €26,423 (+69.8%), from €37,882 to €64,305
- Debts after one year -€16,087
down €16,087 (-31.4%), from €51,220 to €35,133
- Tax, wage and social debts +€10,325
up €10,325 (+121%), from €8,526 to €18,851
of which Taxes: +€7,442
- Current portion of long-term debt -€10,322
down €10,322 (-39.1%), from €26,410 to €16,087
- Gross operating margin +€21,389
up €21,389 (+39.2%), from €54,557 to €75,946
- Taxes +€4,589
up €4,589 (+90.5%), from €5,070 to €9,659
- Depreciation +€1,602
up €1,602 (+6.6%), from €24,085 to €25,687
- Financial charges -€988
down €988 (-16.4%), from €6,019 to €5,031
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 | €175,309 | €184,704 | +€9,395 | +5.4% |
| Fixed assets | 21/28 | €92,682 | €69,114 | -€23,568 | -25.4% |
| Intangible fixed assets | 21 | €20,000 | €12,000 | -€8,000 | -40.0% |
| Tangible fixed assets | 22/27 | €72,682 | €57,114 | -€15,568 | -21.4% |
| Land and buildings | 22 | €47,268 | €42,849 | -€4,419 | -9.3% |
| Plant, machinery and equipment | 23 | €7,072 | €5,585 | -€1,487 | -21.0% |
| Furniture and vehicles | 24 | €8,321 | €6,442 | -€1,879 | -22.6% |
| Leasing and similar rights | 25 | €8,924 | €1,419 | -€7,505 | -84.1% |
| Other tangible fixed assets | 26 | €1,096 | €819 | -€277 | -25.3% |
| Current assets | 29/58 | €82,627 | €115,590 | +€32,963 | +39.9% |
| Stocks and contracts in progress | 3 | €9,661 | €9,576 | -€85 | -0.9% |
| Stocks | 30/36 | €9,661 | €9,576 | -€85 | -0.9% |
| Amounts receivable within one year | 40/41 | €36,836 | €46,499 | +€9,664 | +26.2% |
| Trade receivables | 40 | €31,871 | €46,105 | +€14,234 | +44.7% |
| Other amounts receivable | 41 | €4,965 | €395 | -€4,570 | -92.1% |
| Cash at bank and in hand | 54/58 | €33,369 | €56,838 | +€23,469 | +70.3% |
| Deferred charges and accrued income | 490/1 | €2,761 | €2,677 | -€85 | -3.1% |
| Total equity and liabilities | 10/49 | €175,309 | €184,704 | +€9,395 | +5.4% |
| Equity | 10/15 | €41,399 | €41,629 | +€229 | +0.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €22,799 | €23,029 | +€229 | +1.0% |
| Distributable reserves | 133 | €22,799 | €23,029 | +€229 | +1.0% |
| Amounts payable | 17/49 | €133,909 | €143,075 | +€9,166 | +6.8% |
| Amounts payable after more than one year | 17 | €51,220 | €35,133 | -€16,087 | -31.4% |
| Financial debts | 170/4 | €51,220 | €35,133 | -€16,087 | -31.4% |
| Amounts payable within one year | 42/48 | €78,989 | €105,525 | +€26,537 | +33.6% |
| Current portion of amounts payable after more than one year | 42 | €26,410 | €16,087 | -€10,322 | -39.1% |
| Trade debts | 44 | €6,171 | €6,282 | +€110 | +1.8% |
| Suppliers | 440/4 | €6,171 | €6,282 | +€110 | +1.8% |
| Taxes, remuneration and social security | 45 | €8,526 | €18,851 | +€10,325 | +121% |
| Taxes | 450/3 | €8,526 | €15,968 | +€7,442 | +87.3% |
| Remuneration and social security | 454/9 | - | €2,883 | +€2,883 | |
| Other amounts payable | 47/48 | €37,882 | €64,305 | +€26,423 | +69.8% |
| Accrued charges and deferred income | 492/3 | €3,701 | €2,417 | -€1,284 | -34.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,085 | €25,687 | +€1,602 | +6.6% |
| Other operating charges | 640/8 | €653 | €640 | -€13 | -2.0% |
| Gross operating margin | 9900 | €54,557 | €75,946 | +€21,389 | +39.2% |
| Operating profit (loss) | 9901 | €29,818 | €49,619 | +€19,801 | +66.4% |
| Financial income | 75/76B | €118 | €300 | +€181 | +154% |
| Recurring financial income | 75 | €118 | €300 | +€181 | +154% |
| Financial charges | 65/66B | €6,019 | €5,031 | -€988 | -16.4% |
| Recurring financial charges | 65 | €6,019 | €5,031 | -€988 | -16.4% |
| Profit (loss) for the period before taxes | 9903 | €23,917 | €44,888 | +€20,971 | +87.7% |
| Income taxes | 67/77 | €5,070 | €9,659 | +€4,589 | +90.5% |
| Profit (loss) for the period | 9904 | €18,847 | €35,229 | +€16,382 | +86.9% |
| Profit (loss) for the period to be appropriated | 9905 | €18,847 | €35,229 | +€16,382 | +86.9% |
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 15 October 2026 via checked.be.