DEMC: 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.
DEMC
Largest movements
- Receivables within one year -€91,382
down €91,382 (-30.0%), from €305,010 to €213,628
of which Other amounts receivable: -€90,785
- Tangible fixed assets -€28,398
down €28,398 (-22.4%), from €127,025 to €98,628
of which Furniture and vehicles: -€20,777
- Cash +€17,402
up €17,402 (+49.8%), from €34,934 to €52,336
mainly Receivables within one year (+€91,382) and Net result for the year (+€69,374)
- Other debts -€72,856
down €72,856 (-54.3%), from €134,184 to €61,328
- Debts after one year -€27,129
down €27,129 (-33.4%), from €81,133 to €54,004
- Reserves +€8,046
up €8,046 (+4.3%), from €188,751 to €196,798
- Current portion of long-term debt -€6,313
down €6,313 (-18.9%), from €33,442 to €27,129
- Tax, wage and social debts -€5,386
down €5,386 (-25.1%), from €21,484 to €16,098
of which Remuneration and social security: -€6,300
- Gross operating margin +€10,992
up €10,992 (+9.2%), from €119,435 to €130,426
- Depreciation +€3,128
up €3,128 (+10.3%), from €30,260 to €33,388
- Financial income -€2,544
down €2,544 (-17.4%), from €14,622 to €12,078
- Taxes +€2,317
up €2,317 (+7.8%), from €29,670 to €31,986
- Financial charges -€1,556
down €1,556 (-22.8%), from €6,828 to €5,273
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €466,969 | €364,966 | -€102,003 | -21.8% |
| Fixed assets | 21/28 | €127,025 | €98,628 | -€28,398 | -22.4% |
| Tangible fixed assets | 22/27 | €127,025 | €98,628 | -€28,398 | -22.4% |
| Land and buildings | 22 | €38,511 | €28,883 | -€9,628 | -25.0% |
| Plant, machinery and equipment | 23 | €702 | €0 | -€702 | -100.0% |
| Furniture and vehicles | 24 | €79,791 | €59,014 | -€20,777 | -26.0% |
| Other tangible fixed assets | 26 | €8,022 | €10,731 | +€2,709 | +33.8% |
| Current assets | 29/58 | €339,944 | €266,338 | -€73,606 | -21.7% |
| Amounts receivable within one year | 40/41 | €305,010 | €213,628 | -€91,382 | -30.0% |
| Trade receivables | 40 | €44,128 | €43,531 | -€597 | -1.4% |
| Other amounts receivable | 41 | €260,882 | €170,097 | -€90,785 | -34.8% |
| Cash at bank and in hand | 54/58 | €34,934 | €52,336 | +€17,402 | +49.8% |
| Deferred charges and accrued income | 490/1 | - | €374 | +€374 | |
| Total equity and liabilities | 10/49 | €466,969 | €364,966 | -€102,003 | -21.8% |
| Equity | 10/15 | €194,951 | €202,998 | +€8,046 | +4.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €188,751 | €196,798 | +€8,046 | +4.3% |
| Distributable reserves | 133 | €188,751 | €196,798 | +€8,046 | +4.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €272,018 | €161,968 | -€110,050 | -40.5% |
| Amounts payable after more than one year | 17 | €81,133 | €54,004 | -€27,129 | -33.4% |
| Financial debts | 170/4 | €81,133 | €54,004 | -€27,129 | -33.4% |
| Amounts payable within one year | 42/48 | €189,697 | €106,778 | -€82,919 | -43.7% |
| Current portion of amounts payable after more than one year | 42 | €33,442 | €27,129 | -€6,313 | -18.9% |
| Trade debts | 44 | €587 | €2,224 | +€1,636 | +278.6% |
| Suppliers | 440/4 | €587 | €2,224 | +€1,636 | +278.6% |
| Taxes, remuneration and social security | 45 | €21,484 | €16,098 | -€5,386 | -25.1% |
| Taxes | 450/3 | €15,184 | €16,098 | +€914 | +6.0% |
| Remuneration and social security | 454/9 | €6,300 | €0 | -€6,300 | -100.0% |
| Other amounts payable | 47/48 | €134,184 | €61,328 | -€72,856 | -54.3% |
| Accrued charges and deferred income | 492/3 | €1,188 | €1,186 | -€2 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,260 | €33,388 | +€3,128 | +10.3% |
| Other operating charges | 640/8 | €2,892 | €2,329 | -€563 | -19.5% |
| Non-recurring operating charges | 66A | - | €153 | +€153 | |
| Gross operating margin | 9900 | €119,435 | €130,426 | +€10,992 | +9.2% |
| Operating profit (loss) | 9901 | €86,282 | €94,556 | +€8,273 | +9.6% |
| Financial income | 75/76B | €14,622 | €12,078 | -€2,544 | -17.4% |
| Recurring financial income | 75 | €14,622 | €12,078 | -€2,544 | -17.4% |
| Financial charges | 65/66B | €6,828 | €5,273 | -€1,556 | -22.8% |
| Recurring financial charges | 65 | €6,828 | €5,273 | -€1,556 | -22.8% |
| Profit (loss) for the period before taxes | 9903 | €94,076 | €101,361 | +€7,285 | +7.7% |
| Income taxes | 67/77 | €29,670 | €31,986 | +€2,317 | +7.8% |
| Profit (loss) for the period | 9904 | €64,406 | €69,374 | +€4,968 | +7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €64,406 | €69,374 | +€4,968 | +7.7% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.