DEMALIS: 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.
DEMALIS
Largest movements
- Receivables within one year +€278,135
up €278,135 (+80.8%), from €344,228 to €622,363
of which Other amounts receivable: +€224,103
- Tangible fixed assets -€180,860
down €180,860 (-1.1%), from €16.1m to €15.9m
of which Land and buildings: -€114,051
- Debts after one year -€912,027
down €912,027 (-12.2%), from €7.5m to €6.6m
- Other debts +€527,968
up €527,968 (+19.8%), from €2.7m to €3.2m
- Reserves +€449,541
up €449,541 (+14.7%), from €3.1m to €3.5m
of which Distributable reserves: +€287,456
- Gross operating margin +€347,458
up €347,458 (+24.1%), from €1.4m to €1.8m
- Taxes +€75,640
up €75,640 (+109.8%), from €68,860 to €144,500
- Depreciation +€68,011
up €68,011 (+8.1%), from €843,368 to €911,379
- Other operating charges +€55,558
up €55,558 (+54.7%), from €101,538 to €157,097
- Write-downs +€48,900
new in 2025: €48,900
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 | €16,490,152 | €16,566,995 | +€76,843 | +0.5% |
| Fixed assets | 21/28 | €16,050,979 | €15,870,119 | -€180,860 | -1.1% |
| Tangible fixed assets | 22/27 | €16,050,979 | €15,870,119 | -€180,860 | -1.1% |
| Land and buildings | 22 | €15,538,347 | €15,424,297 | -€114,051 | -0.7% |
| Plant, machinery and equipment | 23 | €512,632 | €445,822 | -€66,810 | -13.0% |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Current assets | 29/58 | €439,173 | €696,876 | +€257,703 | +58.7% |
| Amounts receivable within one year | 40/41 | €344,228 | €622,363 | +€278,135 | +80.8% |
| Trade receivables | 40 | €158,836 | €212,868 | +€54,032 | +34.0% |
| Other amounts receivable | 41 | €185,392 | €409,495 | +€224,103 | +120.9% |
| Cash at bank and in hand | 54/58 | €4,415 | €25,579 | +€21,165 | +479.4% |
| Deferred charges and accrued income | 490/1 | €90,530 | €48,934 | -€41,597 | -45.9% |
| Total equity and liabilities | 10/49 | €16,490,152 | €16,566,995 | +€76,843 | +0.5% |
| Equity | 10/15 | €5,253,617 | €5,698,038 | +€444,421 | +8.5% |
| Contributions | 10/11 | €2,155,599 | €2,155,599 | = | 0.0% |
| Reserves | 13 | €3,051,573 | €3,501,114 | +€449,541 | +14.7% |
| Tax-exempt reserves | 132 | €225,235 | €387,320 | +€162,085 | +72.0% |
| Distributable reserves | 133 | €2,826,338 | €3,113,794 | +€287,456 | +10.2% |
| Investment grants | 15 | €46,446 | €41,326 | -€5,120 | -11.0% |
| Amounts payable | 17/49 | €11,236,535 | €10,868,957 | -€367,578 | -3.3% |
| Amounts payable after more than one year | 17 | €7,478,048 | €6,566,021 | -€912,027 | -12.2% |
| Financial debts | 170/4 | €7,478,048 | €6,566,021 | -€912,027 | -12.2% |
| Amounts payable within one year | 42/48 | €3,745,466 | €4,259,432 | +€513,966 | +13.7% |
| Current portion of amounts payable after more than one year | 42 | €913,440 | €912,027 | -€1,413 | -0.2% |
| Trade debts | 44 | €166,439 | €147,841 | -€18,597 | -11.2% |
| Suppliers | 440/4 | €166,439 | €147,841 | -€18,597 | -11.2% |
| Advances received on contracts in progress | 46 | - | €6,009 | +€6,009 | |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €2,665,587 | €3,193,555 | +€527,968 | +19.8% |
| Accrued charges and deferred income | 492/3 | €13,022 | €43,504 | +€30,482 | +234.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €843,368 | €911,379 | +€68,011 | +8.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €48,900 | +€48,900 | |
| Other operating charges | 640/8 | €101,538 | €157,097 | +€55,558 | +54.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,441,196 | €1,788,654 | +€347,458 | +24.1% |
| Operating profit (loss) | 9901 | €496,290 | €671,279 | +€174,989 | +35.3% |
| Financial income | 75/76B | €7,789 | €10,901 | +€3,112 | +39.9% |
| Recurring financial income | 75 | €7,789 | €10,901 | +€3,112 | +39.9% |
| Financial charges | 65/66B | €94,614 | €88,138 | -€6,476 | -6.8% |
| Recurring financial charges | 65 | €94,614 | €80,638 | -€13,976 | -14.8% |
| Non-recurring financial charges | 66B | - | €7,500 | +€7,500 | |
| Profit (loss) for the period before taxes | 9903 | €409,465 | €594,041 | +€184,577 | +45.1% |
| Income taxes | 67/77 | €68,860 | €144,500 | +€75,640 | +109.8% |
| Profit (loss) for the period | 9904 | €340,604 | €449,541 | +€108,937 | +32.0% |
| Transfer from tax-exempt reserves | 789 | - | €111,565 | +€111,565 | |
| Transfer to tax-exempt reserves | 689 | €0 | €273,650 | +€273,650 | |
| Profit (loss) for the period to be appropriated | 9905 | €340,604 | €287,456 | -€53,148 | -15.6% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.