DEMALUX: 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.
DEMALUX
Largest movements
- Cash +€343,769
up €343,769 (+454%), from €75,739 to €419,507
mainly Net result for the year (+€339,004) and Stocks and contracts (+€106,024)
- Stocks and contracts -€106,024
down €106,024 (-26.3%), from €403,664 to €297,640
- Tangible fixed assets +€92,978
up €92,978 (+50.5%), from €184,289 to €277,266
of which Furniture and vehicles: +€57,985
- Reserves +€339,000
up €339,000 (+18.3%), from €1.8m to €2.2m
of which Distributable reserves: +€339,000
- Turnover +€608,148
new in 2025: €608,148
- Gross operating margin +€605,673
up €605,673, from -€71,301 to €534,372
- Taxes +€121,636
new in 2025: €121,636
- Other operating charges +€22,090
up €22,090 (+165%), from €13,426 to €35,516
- Financial income -€18,521
no longer reported in 2025 (was €18,521)
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 | €2,394,439 | €2,697,711 | +€303,273 | +12.7% |
| Fixed assets | 21/28 | €1,784,289 | €1,877,266 | +€92,978 | +5.2% |
| Tangible fixed assets | 22/27 | €184,289 | €277,266 | +€92,978 | +50.5% |
| Land and buildings | 22 | €52,583 | €52,583 | = | 0.0% |
| Plant, machinery and equipment | 23 | €61,987 | €96,980 | +€34,993 | +56.5% |
| Furniture and vehicles | 24 | €69,719 | €127,704 | +€57,985 | +83.2% |
| Financial fixed assets | 28 | €1,600,000 | €1,600,000 | = | 0.0% |
| Current assets | 29/58 | €610,150 | €820,445 | +€210,295 | +34.5% |
| Stocks and contracts in progress | 3 | €403,664 | €297,640 | -€106,024 | -26.3% |
| Stocks | 30/36 | €403,664 | €297,640 | -€106,024 | -26.3% |
| Amounts receivable within one year | 40/41 | €129,468 | €103,298 | -€26,169 | -20.2% |
| Other amounts receivable | 41 | €129,468 | €103,298 | -€26,169 | -20.2% |
| Cash at bank and in hand | 54/58 | €75,739 | €419,507 | +€343,769 | +454% |
| Deferred charges and accrued income | 490/1 | €1,280 | €0 | -€1,280 | -100% |
| Total equity and liabilities | 10/49 | €2,394,439 | €2,697,711 | +€303,273 | +12.7% |
| Equity | 10/15 | €2,202,194 | €2,541,198 | +€339,004 | +15.4% |
| Contributions | 10/11 | €126,500 | €126,500 | = | 0.0% |
| Capital | 10 | €126,500 | €126,500 | = | 0.0% |
| Issued capital | 100 | €126,500 | €126,500 | = | 0.0% |
| Reserves | 13 | €1,849,691 | €2,188,691 | +€339,000 | +18.3% |
| Non-distributable reserves | 130/1 | €20,452 | €20,452 | = | 0.0% |
| Legal reserve | 130 | €20,452 | €20,452 | = | 0.0% |
| Tax-exempt reserves | 132 | €14,240 | €14,240 | = | 0.0% |
| Distributable reserves | 133 | €1,815,000 | €2,154,000 | +€339,000 | +18.7% |
| Profit (loss) carried forward | 14 | €226,003 | €226,007 | +€4 | 0.0% |
| Amounts payable | 17/49 | €192,244 | €156,513 | -€35,731 | -18.6% |
| Amounts payable within one year | 42/48 | €192,244 | €156,513 | -€35,731 | -18.6% |
| Trade debts | 44 | €1,654 | €3,845 | +€2,190 | +132% |
| Suppliers | 440/4 | €1,654 | €3,845 | +€2,190 | +132% |
| Taxes, remuneration and social security | 45 | €38,685 | €24,818 | -€13,867 | -35.8% |
| Taxes | 450/3 | €38,685 | €24,818 | -€13,867 | -35.8% |
| Other amounts payable | 47/48 | €151,905 | €127,851 | -€24,054 | -15.8% |
| Turnover | 70 | - | €608,148 | +€608,148 | |
| Non-recurring operating income | 76A | €4,786 | - | -€4,786 | |
| Goods, raw materials, services and sundry goods | 60/61 | €76,087 | €73,776 | -€2,312 | -3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,202 | €37,960 | +€6,758 | +21.7% |
| Other operating charges | 640/8 | €13,426 | €35,516 | +€22,090 | +165% |
| Gross operating margin | 9900 | -€71,301 | €534,372 | +€605,673 | |
| Operating profit (loss) | 9901 | -€115,929 | €460,896 | +€576,825 | |
| Financial income | 75/76B | €18,521 | - | -€18,521 | |
| Recurring financial income | 75 | €18,521 | - | -€18,521 | |
| Financial charges | 65/66B | €53 | €256 | +€203 | +382% |
| Recurring financial charges | 65 | €53 | €256 | +€203 | +382% |
| Profit (loss) for the period before taxes | 9903 | -€97,461 | €460,639 | +€558,101 | |
| Income taxes | 67/77 | - | €121,636 | +€121,636 | |
| Profit (loss) for the period | 9904 | -€97,461 | €339,004 | +€436,465 | |
| Profit (loss) for the period to be appropriated | 9905 | -€97,461 | €339,004 | +€436,465 |
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 28 October 2026 via checked.be.