DEMCA: 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.
DEMCA
Largest movements
- Stocks and contracts -€75,624
down €75,624 (-9.8%), from €769,576 to €693,952
- Receivables within one year +€64,463
up €64,463 (+56.6%), from €113,956 to €178,419
of which Trade receivables: +€78,612
- Tangible fixed assets +€55,311
up €55,311 (+33.7%), from €164,223 to €219,533
of which Land and buildings: +€67,483
- Receivables after one year -€21,801
down €21,801 (-11.7%), from €186,153 to €164,353
- Current portion of long-term debt -€507,837
down €507,837 (-94.7%), from €536,475 to €28,639
- Short-term financial debts +€481,440
up €481,440 (+185.2%), from €260,000 to €741,440
- Debts after one year +€51,361
up €51,361 (+240.8%), from €21,328 to €72,689
- Other debts +€21,001
up €21,001 (+16.5%), from €127,609 to €148,610
- Financial income -€197,656
down €197,656 (-98.3%), from €201,164 to €3,507
- Taxes -€18,750
down €18,750 (-62.3%), from €30,075 to €11,324
- Gross operating margin -€16,296
down €16,296 (-4.5%), from €359,635 to €343,338
- Financial charges -€12,268
down €12,268 (-20.4%), from €60,240 to €47,973
- Staff costs -€10,193
down €10,193 (-4.4%), from €229,956 to €219,763
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 | €1,718,371 | €1,741,647 | +€23,276 | +1.4% |
| Fixed assets | 21/28 | €529,007 | €584,318 | +€55,311 | +10.5% |
| Tangible fixed assets | 22/27 | €164,223 | €219,533 | +€55,311 | +33.7% |
| Land and buildings | 22 | €83,870 | €151,353 | +€67,483 | +80.5% |
| Plant, machinery and equipment | 23 | €508 | €0 | -€508 | -100.0% |
| Furniture and vehicles | 24 | €45,715 | €45,859 | +€144 | +0.3% |
| Leasing and similar rights | 25 | €34,130 | €22,322 | -€11,808 | -34.6% |
| Financial fixed assets | 28 | €364,785 | €364,785 | = | 0.0% |
| Current assets | 29/58 | €1,189,364 | €1,157,330 | -€32,035 | -2.7% |
| Amounts receivable after more than one year | 29 | €186,153 | €164,353 | -€21,801 | -11.7% |
| Other amounts receivable | 291 | €186,153 | €164,353 | -€21,801 | -11.7% |
| Stocks and contracts in progress | 3 | €769,576 | €693,952 | -€75,624 | -9.8% |
| Stocks | 30/36 | €769,576 | €693,952 | -€75,624 | -9.8% |
| Amounts receivable within one year | 40/41 | €113,956 | €178,419 | +€64,463 | +56.6% |
| Trade receivables | 40 | €73,777 | €152,389 | +€78,612 | +106.6% |
| Other amounts receivable | 41 | €40,180 | €26,030 | -€14,150 | -35.2% |
| Cash at bank and in hand | 54/58 | €117,506 | €118,664 | +€1,158 | +1.0% |
| Deferred charges and accrued income | 490/1 | €2,173 | €1,942 | -€231 | -10.6% |
| Total equity and liabilities | 10/49 | €1,718,371 | €1,741,647 | +€23,276 | +1.4% |
| Equity | 10/15 | €720,454 | €710,181 | -€10,273 | -1.4% |
| Contributions | 10/11 | €75,000 | €75,000 | = | 0.0% |
| Reserves | 13 | €645,454 | €635,181 | -€10,273 | -1.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €645,454 | €635,181 | -€10,273 | -1.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €997,917 | €1,031,466 | +€33,549 | +3.4% |
| Amounts payable after more than one year | 17 | €21,328 | €72,689 | +€51,361 | +240.8% |
| Financial debts | 170/4 | €21,328 | €72,689 | +€51,361 | +240.8% |
| Amounts payable within one year | 42/48 | €964,873 | €948,946 | -€15,927 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €536,475 | €28,639 | -€507,837 | -94.7% |
| Financial debts | 43 | €260,000 | €741,440 | +€481,440 | +185.2% |
| Credit institutions | 430/8 | €260,000 | €741,440 | +€481,440 | +185.2% |
| Trade debts | 44 | €11,365 | €16,666 | +€5,301 | +46.6% |
| Suppliers | 440/4 | €11,365 | €16,666 | +€5,301 | +46.6% |
| Taxes, remuneration and social security | 45 | €29,423 | €13,591 | -€15,832 | -53.8% |
| Taxes | 450/3 | €22,630 | €5,718 | -€16,912 | -74.7% |
| Remuneration and social security | 454/9 | €6,794 | €7,874 | +€1,080 | +15.9% |
| Other amounts payable | 47/48 | €127,609 | €148,610 | +€21,001 | +16.5% |
| Accrued charges and deferred income | 492/3 | €11,716 | €9,831 | -€1,885 | -16.1% |
| Remuneration, social security and pensions | 62 | €229,956 | €219,763 | -€10,193 | -4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,420 | €30,578 | -€842 | -2.7% |
| Other operating charges | 640/8 | €14,835 | €22,114 | +€7,279 | +49.1% |
| Gross operating margin | 9900 | €359,635 | €343,338 | -€16,296 | -4.5% |
| Operating profit (loss) | 9901 | €83,424 | €70,884 | -€12,540 | -15.0% |
| Financial income | 75/76B | €201,164 | €3,507 | -€197,656 | -98.3% |
| Recurring financial income | 75 | €201,164 | €3,507 | -€197,656 | -98.3% |
| Financial charges | 65/66B | €60,240 | €47,973 | -€12,268 | -20.4% |
| Recurring financial charges | 65 | €60,240 | €47,973 | -€12,268 | -20.4% |
| Profit (loss) for the period before taxes | 9903 | €224,347 | €26,418 | -€197,929 | -88.2% |
| Income taxes | 67/77 | €30,075 | €11,324 | -€18,750 | -62.3% |
| Profit (loss) for the period | 9904 | €194,273 | €15,094 | -€179,179 | -92.2% |
| Profit (loss) for the period to be appropriated | 9905 | €194,273 | €15,094 | -€179,179 | -92.2% |
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 12 October 2026 via checked.be.