DEMALUB: 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.
DEMALUB
Largest movements
- Receivables within one year +€242,603
up €242,603 (+106%), from €228,445 to €471,047
of which Trade receivables: +€259,036
- Stocks and contracts -€128,733
down €128,733 (-100%), from €128,733 to €0
- Cash -€8,509
down €8,509 (-67.4%), from €12,633 to €4,124
mainly Receivables within one year (-€242,603) and Contributions, distributions and other (-€32,000)
- Trade debts +€86,248
up €86,248 (+39.7%), from €217,032 to €303,280
- Other debts +€17,903
up €17,903 (+91.1%), from €19,654 to €37,558
- Gross operating margin +€19,109
up €19,109 (+75.9%), from €25,168 to €44,278
- Depreciation +€768
new in 2025: €768
- Taxes +€514
up €514 (+40.0%), from €1,283 to €1,796
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 | €370,184 | €479,277 | +€109,094 | +29.5% |
| Fixed assets | 21/28 | - | €3,501 | +€3,501 | |
| Tangible fixed assets | 22/27 | - | €3,501 | +€3,501 | |
| Furniture and vehicles | 24 | - | €3,501 | +€3,501 | |
| Current assets | 29/58 | €370,184 | €475,776 | +€105,592 | +28.5% |
| Stocks and contracts in progress | 3 | €128,733 | €0 | -€128,733 | -100% |
| Stocks | 30/36 | €128,733 | €0 | -€128,733 | -100% |
| Amounts receivable within one year | 40/41 | €228,445 | €471,047 | +€242,603 | +106% |
| Trade receivables | 40 | €33,600 | €292,636 | +€259,036 | +771% |
| Other amounts receivable | 41 | €194,845 | €178,412 | -€16,433 | -8.4% |
| Cash at bank and in hand | 54/58 | €12,633 | €4,124 | -€8,509 | -67.4% |
| Deferred charges and accrued income | 490/1 | €374 | €605 | +€231 | +61.9% |
| Total equity and liabilities | 10/49 | €370,184 | €479,277 | +€109,094 | +29.5% |
| Equity | 10/15 | €29,877 | €33,533 | +€3,656 | +12.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €11,277 | €14,933 | +€3,656 | +32.4% |
| Distributable reserves | 133 | €11,277 | €14,933 | +€3,656 | +32.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €340,307 | €445,744 | +€105,438 | +31.0% |
| Amounts payable within one year | 42/48 | €337,194 | €442,608 | +€105,414 | +31.3% |
| Financial debts | 43 | €100,000 | €100,000 | = | 0.0% |
| Credit institutions | 430/8 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €217,032 | €303,280 | +€86,248 | +39.7% |
| Suppliers | 440/4 | €217,032 | €303,280 | +€86,248 | +39.7% |
| Taxes, remuneration and social security | 45 | €508 | €1,771 | +€1,263 | +249% |
| Taxes | 450/3 | €508 | €1,771 | +€1,263 | +249% |
| Other amounts payable | 47/48 | €19,654 | €37,558 | +€17,903 | +91.1% |
| Accrued charges and deferred income | 492/3 | €3,112 | €3,136 | +€24 | +0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €768 | +€768 | |
| Other operating charges | 640/8 | €818 | €837 | +€19 | +2.3% |
| Gross operating margin | 9900 | €25,168 | €44,278 | +€19,109 | +75.9% |
| Operating profit (loss) | 9901 | €24,350 | €42,673 | +€18,322 | +75.2% |
| Financial income | 75/76B | €871 | €880 | +€10 | +1.1% |
| Recurring financial income | 75 | €871 | €880 | +€10 | +1.1% |
| Financial charges | 65/66B | €6,247 | €6,101 | -€146 | -2.3% |
| Recurring financial charges | 65 | €6,247 | €6,101 | -€146 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | €18,975 | €37,452 | +€18,478 | +97.4% |
| Income taxes | 67/77 | €1,283 | €1,796 | +€514 | +40.0% |
| Profit (loss) for the period | 9904 | €17,692 | €35,656 | +€17,964 | +102% |
| Profit (loss) for the period to be appropriated | 9905 | €17,692 | €35,656 | +€17,964 | +102% |
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 19 October 2026 via checked.be.