DEMARAX: 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.
DEMARAX
Largest movements
- Financial fixed assets -€166,230
down €166,230 (-60.7%), from €273,726 to €107,495
- Receivables within one year -€14,607
down €14,607 (-66.0%), from €22,120 to €7,513
of which Trade receivables: -€16,779
- Tangible fixed assets -€11,617
down €11,617 (-2.8%), from €420,934 to €409,317
- Debts after one year -€188,637
down €188,637 (-43.4%), from €435,125 to €246,488
- Reserves +€15,000
up €15,000 (+6.1%), from €244,500 to €259,500
- Tax, wage and social debts -€9,719
down €9,719 (-54.8%), from €17,725 to €8,005
- Gross operating margin -€6,452
down €6,452 (-13.8%), from €46,591 to €40,139
- Other operating charges -€4,313
down €4,313 (-86.7%), from €4,975 to €663
- Taxes +€847
up €847 (+7.0%), from €12,068 to €12,915
- Financial charges -€526
down €526 (-91.4%), from €576 to €50
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 | €730,040 | €533,401 | -€196,639 | -26.9% |
| Fixed assets | 21/28 | €694,659 | €516,812 | -€177,847 | -25.6% |
| Tangible fixed assets | 22/27 | €420,934 | €409,317 | -€11,617 | -2.8% |
| Land and buildings | 22 | €420,934 | €409,317 | -€11,617 | -2.8% |
| Financial fixed assets | 28 | €273,726 | €107,495 | -€166,230 | -60.7% |
| Current assets | 29/58 | €35,381 | €16,589 | -€18,792 | -53.1% |
| Stocks and contracts in progress | 3 | €4,060 | €3,413 | -€647 | -15.9% |
| Stocks | 30/36 | €4,060 | €3,413 | -€647 | -15.9% |
| Amounts receivable within one year | 40/41 | €22,120 | €7,513 | -€14,607 | -66.0% |
| Trade receivables | 40 | €22,119 | €5,340 | -€16,779 | -75.9% |
| Other amounts receivable | 41 | €1 | €2,173 | +€2,172 | +301,700% |
| Cash at bank and in hand | 54/58 | €9,058 | €5,517 | -€3,541 | -39.1% |
| Deferred charges and accrued income | 490/1 | €144 | €147 | +€3 | +1.8% |
| Total equity and liabilities | 10/49 | €730,040 | €533,401 | -€196,639 | -26.9% |
| Equity | 10/15 | €263,660 | €278,554 | +€14,895 | +5.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €244,500 | €259,500 | +€15,000 | +6.1% |
| Distributable reserves | 133 | €244,500 | €259,500 | +€15,000 | +6.1% |
| Profit (loss) carried forward | 14 | €560 | €454 | -€105 | -18.8% |
| Amounts payable | 17/49 | €466,381 | €254,847 | -€211,534 | -45.4% |
| Amounts payable after more than one year | 17 | €435,125 | €246,488 | -€188,637 | -43.4% |
| Other amounts payable | 178/9 | €435,125 | €246,488 | -€188,637 | -43.4% |
| Amounts payable within one year | 42/48 | €26,733 | €8,160 | -€18,572 | -69.5% |
| Trade debts | 44 | €2,854 | €155 | -€2,699 | -94.6% |
| Suppliers | 440/4 | €2,854 | €155 | -€2,699 | -94.6% |
| Taxes, remuneration and social security | 45 | €17,725 | €8,005 | -€9,719 | -54.8% |
| Taxes | 450/3 | €17,725 | €8,005 | -€9,719 | -54.8% |
| Other amounts payable | 47/48 | €6,154 | €0 | -€6,154 | -100% |
| Accrued charges and deferred income | 492/3 | €4,523 | €198 | -€4,325 | -95.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,617 | €11,617 | = | 0.0% |
| Other operating charges | 640/8 | €4,975 | €663 | -€4,313 | -86.7% |
| Gross operating margin | 9900 | €46,591 | €40,139 | -€6,452 | -13.8% |
| Operating profit (loss) | 9901 | €29,999 | €27,859 | -€2,140 | -7.1% |
| Financial charges | 65/66B | €576 | €50 | -€526 | -91.4% |
| Recurring financial charges | 65 | €576 | €50 | -€526 | -91.4% |
| Profit (loss) for the period before taxes | 9903 | €29,423 | €27,810 | -€1,614 | -5.5% |
| Income taxes | 67/77 | €12,068 | €12,915 | +€847 | +7.0% |
| Profit (loss) for the period | 9904 | €17,356 | €14,895 | -€2,461 | -14.2% |
| Profit (loss) for the period to be appropriated | 9905 | €17,356 | €14,895 | -€2,461 | -14.2% |
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 13 October 2026 via checked.be.