DEMCO: 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.
DEMCO
Largest movements
- Cash +€101,268
up €101,268 (+196%), from €51,683 to €152,952
mainly Net result for the year (+€143,824) and Depreciation (+€53,304)
- Tangible fixed assets -€44,290
down €44,290 (-14.3%), from €308,930 to €264,640
of which Plant, machinery and equipment: -€28,820
- Receivables within one year +€26,119
up €26,119 (+18.3%), from €142,502 to €168,621
of which Trade receivables: +€26,101
- Profit (loss) carried forward +€143,824
up €143,824, from -€141,548 to €2,276
- Trade debts -€85,356
down €85,356 (-97.8%), from €87,301 to €1,945
- Accrued charges and deferred income +€38,908
up €38,908 (+1,737%), from €2,240 to €41,149
- Debts after one year -€13,773
down €13,773 (-15.8%), from €87,227 to €73,454
- Gross operating margin +€268,990
up €268,990, from -€73,079 to €195,911
- Financial charges -€11,118
down €11,118 (-73.4%), from €15,145 to €4,027
- Financial income +€7,026
up €7,026 (+7,026,430%), from €0 to €7,027
- Depreciation +€2,247
up €2,247 (+4.4%), from €51,056 to €53,304
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 | €503,493 | €586,599 | +€83,107 | +16.5% |
| Fixed assets | 21/28 | €308,930 | €264,640 | -€44,290 | -14.3% |
| Tangible fixed assets | 22/27 | €308,930 | €264,640 | -€44,290 | -14.3% |
| Land and buildings | 22 | €215,724 | €200,254 | -€15,470 | -7.2% |
| Plant, machinery and equipment | 23 | €93,206 | €64,386 | -€28,820 | -30.9% |
| Current assets | 29/58 | €194,563 | €321,959 | +€127,397 | +65.5% |
| Amounts receivable within one year | 40/41 | €142,502 | €168,621 | +€26,119 | +18.3% |
| Trade receivables | 40 | €141,960 | €168,061 | +€26,101 | +18.4% |
| Other amounts receivable | 41 | €542 | €560 | +€17 | +3.2% |
| Cash at bank and in hand | 54/58 | €51,683 | €152,952 | +€101,268 | +196% |
| Deferred charges and accrued income | 490/1 | €377 | €387 | +€10 | +2.6% |
| Total equity and liabilities | 10/49 | €503,493 | €586,599 | +€83,107 | +16.5% |
| Equity | 10/15 | €297,258 | €441,082 | +€143,824 | +48.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €376,807 | €376,807 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €370,607 | €370,607 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€141,548 | €2,276 | +€143,824 | |
| Amounts payable | 17/49 | €206,234 | €145,517 | -€60,717 | -29.4% |
| Amounts payable after more than one year | 17 | €87,227 | €73,454 | -€13,773 | -15.8% |
| Financial debts | 170/4 | €87,227 | €73,454 | -€13,773 | -15.8% |
| Amounts payable within one year | 42/48 | €116,767 | €30,914 | -€85,852 | -73.5% |
| Current portion of amounts payable after more than one year | 42 | €13,773 | €13,773 | = | 0.0% |
| Trade debts | 44 | €87,301 | €1,945 | -€85,356 | -97.8% |
| Suppliers | 440/4 | €87,301 | €1,945 | -€85,356 | -97.8% |
| Other amounts payable | 47/48 | €15,693 | €15,196 | -€496 | -3.2% |
| Accrued charges and deferred income | 492/3 | €2,240 | €41,149 | +€38,908 | +1,737% |
| Non-recurring operating income | 76A | - | €65,804 | +€65,804 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,056 | €53,304 | +€2,247 | +4.4% |
| Other operating charges | 640/8 | €2,269 | €1,783 | -€485 | -21.4% |
| Gross operating margin | 9900 | -€73,079 | €195,911 | +€268,990 | |
| Operating profit (loss) | 9901 | -€126,404 | €140,824 | +€267,228 | |
| Financial income | 75/76B | €0 | €7,027 | +€7,026 | +7,026,430% |
| Recurring financial income | 75 | €0 | €7,027 | +€7,026 | +7,026,430% |
| Financial charges | 65/66B | €15,145 | €4,027 | -€11,118 | -73.4% |
| Recurring financial charges | 65 | €15,145 | €4,027 | -€11,118 | -73.4% |
| Profit (loss) for the period before taxes | 9903 | -€141,548 | €143,824 | +€285,372 | |
| Profit (loss) for the period | 9904 | -€141,548 | €143,824 | +€285,372 | |
| Profit (loss) for the period to be appropriated | 9905 | -€141,548 | €143,824 | +€285,372 |
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 13 October 2026 via checked.be.