DEMAPACK: 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.
DEMAPACK
Largest movements
- Tangible fixed assets -€167,669
down €167,669 (-6.1%), from €2.7m to €2.6m
of which Land and buildings: -€126,250
- Receivables within one year -€53,569
down €53,569 (-14.9%), from €359,392 to €305,823
of which Trade receivables: -€58,651
- Stocks and contracts -€52,493
down €52,493 (-15.9%), from €330,391 to €277,898
- Debts after one year -€147,865
down €147,865 (-8.4%), from €1.8m to €1.6m
of which Financial debts: -€147,865
- Trade debts -€103,372
down €103,372 (-37.0%), from €279,027 to €175,655
- Profit (loss) carried forward +€82,786
up €82,786, from -€79,080 to €3,706
- Reserves -€63,150
down €63,150 (-29.1%), from €216,820 to €153,670
of which Tax-exempt reserves: -€63,150
- Current portion of long-term debt -€40,340
down €40,340 (-21.5%), from €187,430 to €147,090
- Gross operating margin -€65,364
down €65,364 (-9.0%), from €728,460 to €663,096
- Staff costs -€42,454
down €42,454 (-10.1%), from €421,436 to €378,982
- Depreciation -€7,591
down €7,591 (-4.1%), from €186,812 to €179,221
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 | €3,501,982 | €3,192,617 | -€309,365 | -8.8% |
| Fixed assets | 21/28 | €2,755,820 | €2,584,994 | -€170,827 | -6.2% |
| Intangible fixed assets | 21 | €10,335 | €7,177 | -€3,158 | -30.6% |
| Tangible fixed assets | 22/27 | €2,745,486 | €2,577,817 | -€167,669 | -6.1% |
| Land and buildings | 22 | €2,610,753 | €2,484,502 | -€126,250 | -4.8% |
| Plant, machinery and equipment | 23 | €79,082 | €61,396 | -€17,687 | -22.4% |
| Furniture and vehicles | 24 | €55,651 | €31,919 | -€23,732 | -42.6% |
| Current assets | 29/58 | €746,162 | €607,624 | -€138,538 | -18.6% |
| Stocks and contracts in progress | 3 | €330,391 | €277,898 | -€52,493 | -15.9% |
| Stocks | 30/36 | €330,391 | €277,898 | -€52,493 | -15.9% |
| Amounts receivable within one year | 40/41 | €359,392 | €305,823 | -€53,569 | -14.9% |
| Trade receivables | 40 | €356,900 | €298,249 | -€58,651 | -16.4% |
| Other amounts receivable | 41 | €2,492 | €7,575 | +€5,082 | +203.9% |
| Cash at bank and in hand | 54/58 | €48,894 | €16,140 | -€32,753 | -67.0% |
| Deferred charges and accrued income | 490/1 | €7,484 | €7,762 | +€277 | +3.7% |
| Total equity and liabilities | 10/49 | €3,501,982 | €3,192,617 | -€309,365 | -8.8% |
| Equity | 10/15 | €1,061,443 | €1,081,080 | +€19,636 | +1.8% |
| Contributions | 10/11 | €475,000 | €475,000 | = | 0.0% |
| Revaluation surpluses | 12 | €448,704 | €448,704 | = | 0.0% |
| Reserves | 13 | €216,820 | €153,670 | -€63,150 | -29.1% |
| Tax-exempt reserves | 132 | €176,820 | €113,670 | -€63,150 | -35.7% |
| Distributable reserves | 133 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€79,080 | €3,706 | +€82,786 | |
| Amounts payable | 17/49 | €2,440,539 | €2,111,537 | -€329,001 | -13.5% |
| Amounts payable after more than one year | 17 | €1,757,469 | €1,609,604 | -€147,865 | -8.4% |
| Financial debts | 170/4 | €1,577,469 | €1,429,604 | -€147,865 | -9.4% |
| Other amounts payable | 178/9 | €180,000 | €180,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €674,902 | €494,211 | -€180,691 | -26.8% |
| Current portion of amounts payable after more than one year | 42 | €187,430 | €147,090 | -€40,340 | -21.5% |
| Financial debts | 43 | €89,849 | €77,873 | -€11,976 | -13.3% |
| Credit institutions | 430/8 | €89,849 | €77,873 | -€11,976 | -13.3% |
| Trade debts | 44 | €279,027 | €175,655 | -€103,372 | -37.0% |
| Suppliers | 440/4 | €279,027 | €175,655 | -€103,372 | -37.0% |
| Taxes, remuneration and social security | 45 | €71,116 | €59,700 | -€11,416 | -16.1% |
| Taxes | 450/3 | €38,819 | €30,422 | -€8,396 | -21.6% |
| Remuneration and social security | 454/9 | €32,297 | €29,278 | -€3,019 | -9.3% |
| Other amounts payable | 47/48 | €47,481 | €33,893 | -€13,588 | -28.6% |
| Accrued charges and deferred income | 492/3 | €8,167 | €7,723 | -€445 | -5.4% |
| Non-recurring operating income | 76A | - | €9,674 | +€9,674 | |
| Remuneration, social security and pensions | 62 | €421,436 | €378,982 | -€42,454 | -10.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €186,812 | €179,221 | -€7,591 | -4.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €34,079 | €36,694 | +€2,614 | +7.7% |
| Gross operating margin | 9900 | €728,460 | €663,096 | -€65,364 | -9.0% |
| Operating profit (loss) | 9901 | €86,132 | €68,198 | -€17,934 | -20.8% |
| Financial income | 75/76B | €24,485 | €22,686 | -€1,798 | -7.3% |
| Recurring financial income | 75 | €24,485 | €22,686 | -€1,798 | -7.3% |
| Financial charges | 65/66B | €69,142 | €62,151 | -€6,991 | -10.1% |
| Recurring financial charges | 65 | €69,142 | €62,151 | -€6,991 | -10.1% |
| Profit (loss) for the period before taxes | 9903 | €41,475 | €28,733 | -€12,741 | -30.7% |
| Income taxes | 67/77 | €12,582 | €9,097 | -€3,485 | -27.7% |
| Profit (loss) for the period | 9904 | €28,893 | €19,636 | -€9,256 | -32.0% |
| Transfer from tax-exempt reserves | 789 | - | €63,150 | +€63,150 | |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €28,893 | €82,786 | +€53,894 | +186.5% |
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 10 October 2026 via checked.be.