DEMCON: 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.
DEMCON
Largest movements
- Cash -€12,029
down €12,029 (-30.5%), from €39,478 to €27,449
mainly Receivables within one year (-€11,548) and Net result for the year (-€5,923)
- Receivables within one year +€11,548
up €11,548 (+36.8%), from €31,357 to €42,905
of which Trade receivables: +€10,480
- Tangible fixed assets -€8,547
down €8,547 (-11.2%), from €76,626 to €68,079
of which Land and buildings: -€6,275
- Profit (loss) carried forward -€5,923
down €5,923 (-140.1%), from -€4,229 to -€10,152
- Debts after one year -€5,439
down €5,439 (-9.2%), from €59,296 to €53,857
- Trade debts +€2,072
up €2,072 (+76.3%), from €2,716 to €4,788
- Gross operating margin -€820
down €820 (-10.5%), from €7,771 to €6,952
- Financial charges -€440
down €440 (-12.5%), from €3,515 to €3,074
- Depreciation -€309
down €309 (-3.5%), from €8,856 to €8,547
- Other operating charges +€241
up €241 (+17.8%), from €1,353 to €1,594
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 | €150,714 | €141,492 | -€9,222 | -6.1% |
| Fixed assets | 21/28 | €77,726 | €69,179 | -€8,547 | -11.0% |
| Tangible fixed assets | 22/27 | €76,626 | €68,079 | -€8,547 | -11.2% |
| Land and buildings | 22 | €68,635 | €62,360 | -€6,275 | -9.1% |
| Plant, machinery and equipment | 23 | €997 | €607 | -€390 | -39.1% |
| Other tangible fixed assets | 26 | €6,994 | €5,112 | -€1,882 | -26.9% |
| Financial fixed assets | 28 | €1,100 | €1,100 | = | 0.0% |
| Current assets | 29/58 | €72,988 | €72,314 | -€674 | -0.9% |
| Amounts receivable within one year | 40/41 | €31,357 | €42,905 | +€11,548 | +36.8% |
| Trade receivables | 40 | €15,400 | €25,880 | +€10,480 | +68.0% |
| Other amounts receivable | 41 | €15,957 | €17,026 | +€1,068 | +6.7% |
| Cash at bank and in hand | 54/58 | €39,478 | €27,449 | -€12,029 | -30.5% |
| Deferred charges and accrued income | 490/1 | €2,153 | €1,960 | -€193 | -9.0% |
| Total equity and liabilities | 10/49 | €150,714 | €141,492 | -€9,222 | -6.1% |
| Equity | 10/15 | €30,271 | €24,348 | -€5,923 | -19.6% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €14,500 | €14,500 | = | 0.0% |
| Distributable reserves | 133 | €14,500 | €14,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,229 | -€10,152 | -€5,923 | -140.1% |
| Provisions and deferred taxes | 16 | €49,504 | €49,504 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €49,504 | €49,504 | = | 0.0% |
| Pensions and similar obligations | 160 | €49,504 | €49,504 | = | 0.0% |
| Amounts payable | 17/49 | €70,939 | €67,641 | -€3,298 | -4.6% |
| Amounts payable after more than one year | 17 | €59,296 | €53,857 | -€5,439 | -9.2% |
| Financial debts | 170/4 | €59,296 | €53,857 | -€5,439 | -9.2% |
| Amounts payable within one year | 42/48 | €11,101 | €13,241 | +€2,140 | +19.3% |
| Current portion of amounts payable after more than one year | 42 | €5,337 | €5,439 | +€102 | +1.9% |
| Financial debts | 43 | €1,048 | €1,015 | -€33 | -3.2% |
| Credit institutions | 430/8 | €1,048 | €1,015 | -€33 | -3.2% |
| Trade debts | 44 | €2,716 | €4,788 | +€2,072 | +76.3% |
| Suppliers | 440/4 | €2,716 | €4,788 | +€2,072 | +76.3% |
| Taxes, remuneration and social security | 45 | €2,000 | €2,000 | = | 0.0% |
| Remuneration and social security | 454/9 | €2,000 | €2,000 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €543 | €543 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,856 | €8,547 | -€309 | -3.5% |
| Other operating charges | 640/8 | €1,353 | €1,594 | +€241 | +17.8% |
| Non-recurring operating charges | 66A | €265 | €0 | -€265 | -100.0% |
| Gross operating margin | 9900 | €7,771 | €6,952 | -€820 | -10.5% |
| Operating profit (loss) | 9901 | -€2,703 | -€3,189 | -€487 | -18.0% |
| Financial income | 75/76B | €520 | €573 | +€53 | +10.2% |
| Recurring financial income | 75 | €520 | €573 | +€53 | +10.2% |
| Financial charges | 65/66B | €3,515 | €3,074 | -€440 | -12.5% |
| Recurring financial charges | 65 | €3,515 | €3,074 | -€440 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | -€5,697 | -€5,690 | +€7 | +0.1% |
| Income taxes | 67/77 | €250 | €233 | -€17 | -6.7% |
| Profit (loss) for the period | 9904 | -€5,947 | -€5,923 | +€24 | +0.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,947 | -€5,923 | +€24 | +0.4% |
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.