DEMANCO: 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.
DEMANCO
Largest movements
- Current investments +€67,010
up €67,010 (+15.2%), from €441,226 to €508,236
- Tangible fixed assets -€36,860
down €36,860 (-5.3%), from €692,801 to €655,941
of which Furniture and vehicles: -€25,868
- Receivables within one year -€27,205
down €27,205 (-66.1%), from €41,137 to €13,932
of which Trade receivables: -€21,175
- Cash +€14,317
up €14,317 (+16.0%), from €89,376 to €103,693
mainly Depreciation (+€51,241) and Net result for the year (+€39,192)
- Reserves +€35,000
up €35,000 (+8.7%), from €400,731 to €435,731
of which Distributable reserves: +€35,000
- Tax, wage and social debts -€22,392
down €22,392 (-72.8%), from €30,775 to €8,383
- Gross operating margin -€70,922
down €70,922 (-36.7%), from €193,033 to €122,112
- Taxes -€7,434
down €7,434 (-17.4%), from €42,688 to €35,254
- Financial income +€4,020
up €4,020 (+71.2%), from €5,642 to €9,662
- Depreciation +€3,330
up €3,330 (+7.0%), from €47,911 to €51,241
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 | €1,266,120 | €1,283,433 | +€17,313 | +1.4% |
| Fixed assets | 21/28 | €693,296 | €656,437 | -€36,860 | -5.3% |
| Tangible fixed assets | 22/27 | €692,801 | €655,941 | -€36,860 | -5.3% |
| Land and buildings | 22 | €594,926 | €582,018 | -€12,908 | -2.2% |
| Plant, machinery and equipment | 23 | €4,174 | €6,090 | +€1,916 | +45.9% |
| Furniture and vehicles | 24 | €93,701 | €67,833 | -€25,868 | -27.6% |
| Financial fixed assets | 28 | €496 | €496 | = | 0.0% |
| Current assets | 29/58 | €572,823 | €626,996 | +€54,173 | +9.5% |
| Amounts receivable within one year | 40/41 | €41,137 | €13,932 | -€27,205 | -66.1% |
| Trade receivables | 40 | €21,175 | - | -€21,175 | |
| Other amounts receivable | 41 | €19,962 | €13,932 | -€6,030 | -30.2% |
| Current investments | 50/53 | €441,226 | €508,236 | +€67,010 | +15.2% |
| Cash at bank and in hand | 54/58 | €89,376 | €103,693 | +€14,317 | +16.0% |
| Deferred charges and accrued income | 490/1 | €1,084 | €1,135 | +€51 | +4.7% |
| Total equity and liabilities | 10/49 | €1,266,120 | €1,283,433 | +€17,313 | +1.4% |
| Equity | 10/15 | €1,235,333 | €1,274,525 | +€39,192 | +3.2% |
| Contributions | 10/11 | €260,288 | €260,288 | = | 0.0% |
| Capital | 10 | €260,288 | €260,288 | = | 0.0% |
| Issued capital | 100 | €260,288 | €260,288 | = | 0.0% |
| Reserves | 13 | €400,731 | €435,731 | +€35,000 | +8.7% |
| Non-distributable reserves | 130/1 | €110,731 | €110,731 | = | 0.0% |
| Legal reserve | 130 | €110,731 | €110,731 | = | 0.0% |
| Distributable reserves | 133 | €290,000 | €325,000 | +€35,000 | +12.1% |
| Profit (loss) carried forward | 14 | €574,314 | €578,506 | +€4,192 | +0.7% |
| Amounts payable | 17/49 | €30,787 | €8,908 | -€21,879 | -71.1% |
| Amounts payable within one year | 42/48 | €30,787 | €8,908 | -€21,879 | -71.1% |
| Trade debts | 44 | €11 | €525 | +€513 | +4,494% |
| Suppliers | 440/4 | €11 | €525 | +€513 | +4,494% |
| Taxes, remuneration and social security | 45 | €30,775 | €8,383 | -€22,392 | -72.8% |
| Taxes | 450/3 | €30,775 | €8,383 | -€22,392 | -72.8% |
| Remuneration, social security and pensions | 62 | €211 | €27 | -€184 | -87.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,911 | €51,241 | +€3,330 | +7.0% |
| Other operating charges | 640/8 | €3,958 | €4,909 | +€951 | +24.0% |
| Gross operating margin | 9900 | €193,033 | €122,112 | -€70,922 | -36.7% |
| Operating profit (loss) | 9901 | €140,953 | €65,934 | -€75,019 | -53.2% |
| Financial income | 75/76B | €5,642 | €9,662 | +€4,020 | +71.2% |
| Recurring financial income | 75 | €5,642 | €9,662 | +€4,020 | +71.2% |
| Financial charges | 65/66B | €553 | €1,151 | +€598 | +108% |
| Recurring financial charges | 65 | €553 | €1,151 | +€598 | +108% |
| Profit (loss) for the period before taxes | 9903 | €146,043 | €74,446 | -€71,597 | -49.0% |
| Income taxes | 67/77 | €42,688 | €35,254 | -€7,434 | -17.4% |
| Profit (loss) for the period | 9904 | €103,355 | €39,192 | -€64,163 | -62.1% |
| Profit (loss) for the period to be appropriated | 9905 | €103,355 | €39,192 | -€64,163 | -62.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.