Demalco: 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.
Demalco
Largest movements
- Cash -€58,398
down €58,398 (-33.6%), from €173,788 to €115,390
mainly Other debts (-€37,592) and Current investments (-€22,232)
- Current investments +€22,232
up €22,232 (+2.1%), from €1.0m to €1.1m
- Other debts -€37,592
down €37,592 (-96.8%), from €38,831 to €1,239
- Gross operating margin +€20,480
up €20,480 (+65.3%), from -€31,383 to -€10,903
- Taxes -€3,859
down €3,859 (-81.4%), from €4,743 to €883
- Financial income -€797
down €797 (-3.2%), from €25,080 to €24,283
- Other operating charges -€766
down €766 (-8.8%), from €8,683 to €7,917
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 | €1,864,922 | €1,812,009 | -€52,913 | -2.8% |
| Fixed assets | 21/28 | €599,909 | €582,615 | -€17,294 | -2.9% |
| Tangible fixed assets | 22/27 | €599,909 | €582,615 | -€17,294 | -2.9% |
| Land and buildings | 22 | €599,172 | €582,382 | -€16,790 | -2.8% |
| Furniture and vehicles | 24 | €737 | €233 | -€504 | -68.4% |
| Current assets | 29/58 | €1,265,014 | €1,229,394 | -€35,620 | -2.8% |
| Amounts receivable within one year | 40/41 | €1,204 | €4,261 | +€3,057 | +254% |
| Trade receivables | 40 | €1,204 | €261 | -€943 | -78.3% |
| Other amounts receivable | 41 | - | €4,000 | +€4,000 | |
| Current investments | 50/53 | €1,048,320 | €1,070,553 | +€22,232 | +2.1% |
| Cash at bank and in hand | 54/58 | €173,788 | €115,390 | -€58,398 | -33.6% |
| Deferred charges and accrued income | 490/1 | €41,701 | €39,190 | -€2,511 | -6.0% |
| Total equity and liabilities | 10/49 | €1,864,922 | €1,812,009 | -€52,913 | -2.8% |
| Equity | 10/15 | €1,752,888 | €1,742,239 | -€10,649 | -0.6% |
| Contributions | 10/11 | €467,309 | €467,309 | = | 0.0% |
| Capital | 10 | €467,309 | €467,309 | = | 0.0% |
| Issued capital | 100 | €467,309 | €467,309 | = | 0.0% |
| Reserves | 13 | €707,321 | €700,582 | -€6,740 | -1.0% |
| Non-distributable reserves | 130/1 | €146,034 | €146,034 | = | 0.0% |
| Legal reserve | 130 | €146,034 | €146,034 | = | 0.0% |
| Tax-exempt reserves | 132 | €561,287 | €554,548 | -€6,740 | -1.2% |
| Profit (loss) carried forward | 14 | €578,258 | €574,349 | -€3,909 | -0.7% |
| Provisions and deferred taxes | 16 | €66,683 | €64,436 | -€2,247 | -3.4% |
| Deferred taxes | 168 | €66,683 | €64,436 | -€2,247 | -3.4% |
| Amounts payable | 17/49 | €45,352 | €5,334 | -€40,018 | -88.2% |
| Amounts payable within one year | 42/48 | €44,902 | €4,884 | -€40,018 | -89.1% |
| Trade debts | 44 | €2,636 | €3,644 | +€1,008 | +38.2% |
| Suppliers | 440/4 | €2,636 | €3,644 | +€1,008 | +38.2% |
| Taxes, remuneration and social security | 45 | €3,434 | €0 | -€3,434 | -100% |
| Taxes | 450/3 | €3,434 | €0 | -€3,434 | -100% |
| Other amounts payable | 47/48 | €38,831 | €1,239 | -€37,592 | -96.8% |
| Accrued charges and deferred income | 492/3 | €450 | €450 | = | 0.0% |
| Non-recurring operating income | 76A | - | €9,000 | +€9,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,294 | €17,294 | = | 0.0% |
| Other operating charges | 640/8 | €8,683 | €7,917 | -€766 | -8.8% |
| Gross operating margin | 9900 | -€31,383 | -€10,903 | +€20,480 | +65.3% |
| Operating profit (loss) | 9901 | -€57,360 | -€36,113 | +€21,246 | +37.0% |
| Financial income | 75/76B | €25,080 | €24,283 | -€797 | -3.2% |
| Recurring financial income | 75 | €25,080 | €24,283 | -€797 | -3.2% |
| Financial charges | 65/66B | €126 | €182 | +€56 | +44.3% |
| Recurring financial charges | 65 | €126 | €182 | +€56 | +44.3% |
| Profit (loss) for the period before taxes | 9903 | -€32,405 | -€12,012 | +€20,393 | +62.9% |
| Transfer from deferred taxes | 780 | €2,247 | €2,247 | = | 0.0% |
| Income taxes | 67/77 | €4,743 | €883 | -€3,859 | -81.4% |
| Profit (loss) for the period | 9904 | -€34,901 | -€10,649 | +€24,252 | +69.5% |
| Transfer from tax-exempt reserves | 789 | €6,740 | €6,740 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€28,161 | -€3,909 | +€24,252 | +86.1% |
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.